Student loan forgiveness as taxable benefit

If people want to forgive student debt; why don't we do it, and have it constitute a taxable benefit?

The government can issue a 1099-G for the amount of the loan discharged. That amount is included in income on their next tax return and the tax burden is mostly levied on the individuals who actually took out the loans.

Granted there are a lot of problems with this solution but it's something I've always wanted to discuss.

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Your image pisses me off and your retard reddit spaced blog post pisses me off more
Fuck off.

Pay your loans faggot, discussion over.

If your workplace pays part of your student loans it is a taxable benefit. As for why this isn't done? Because the gov representatives don't want to pay 1 trillion in student loans off even subtracting tax revenue.

A bankruptcy lawyer explains how student loan debt is often just the first domino:
Here's what practical experience has taught me in the thousands of bankruptcy cases I've filed for clients: student loan debt perpetuates bankruptcy filings.

A pattern is emerging. Clients making $25,000-$40,000/year with student loans see us every decade to file a new Chapter 7 bankruptcy case. Why? They take out predatory loans and use credit cards to stay afloat. Why? Because the ~$50,000 in student loans wasn't discharged in the last bankruptcy. There are limited programs to get around the debt temporarily, but most are stuck in the cycle.

In a sense, the predatory loans and credit cards they are taking out again and not paying are paying the student loans they're stuck with (i.e. the money being paid on the student loans is offset by dischargeable debt they later take bankruptcy for to stay afloat). It's a vicious cycle.
There are a number of bad reasons to not discharge student loan debt, but there are no good reasons. Literally nothing good is going to come of trying to squeeze even more blood from those particular stones.

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How about instead we
-only allow credit to people with credit scores and co-signers or with some sort of equivalent collateral
-idiots stop circle jerking over stroking egos and prestige
-idiots go to a school they can afford if they’re so insistent

Oops I solved the student loan crisis thank me later. Fuck off back to r*ddit

>pay back student loans
>meanwhile corona loans to businesses are forgiven 5 minutes after they are given out
How about just printing the money.

How about getting a GI bill, a scholarship, tuition reimbursement, or going to community college.

Politics aside, eliminating student debt is the right thing to do. The power of the banks needs to be broken and this is the most effective way to begin doing that. Student loan debt is intrinsically predatory and cannot be justified, especially in light of the massive endowments of the elite universities.

The fact is that most people should not go to college. But if corporations are going to demand worthless pieces of paper for a job, then those worthless pieces of paper should be provided to everyone who wants one for free.

But the evil solipsism of baby boomers can probably be seen most clearly in this quote from Slashdot concerning the student loan debacle. "In response to students burying their obligations in court during the 1970s, anti-default provisions were imposed to make it almost impossible to shed student loans in bankruptcy." In other words, baby boomers took out student loans - in many cases to avoid Vietnam - defaulted on them, then passed a law to ensure that future generations would not be able to do the same. And their student loan debts were far smaller and far less onerous than the ones facing those who have graduated in the 2000s.