Glimpse of the "tax bomb"

[sazerac]

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This article came out a couple days ago:

http://www.nytimes.com/2014/03/28/y...bill-from-the-irs.html?hpw&rref=business&_r=0

While we talk theoretically about the "tax bomb" of taxable student loan forgiveness around the year 2030, the tax bomb is actually happening today for one sad segment of society: the suddenly disabled. If through some unfortunate event you do become disabled, your student loans are (taxably) forgiven, and then you are hit with a humongous tax bill right when you can't even get a job anymore.

This situation is obviously a lot different than an employed physician getting hit with a big tax bill, but it is still a sobering look at the tax bomb and how devastating it can be. Seniors are being forced to sell their family homes, etc.

 

[DrMidlife]

Forgiveageddon lives.

 

[deleted480308]

This article came out a couple days ago:

http://www.nytimes.com/2014/03/28/y...bill-from-the-irs.html?hpw&rref=business&_r=0

While we talk theoretically about the "tax bomb" of taxable student loan forgiveness around the year 2030, the tax bomb is actually happening today for one sad segment of society: the suddenly disabled. If through some unfortunate event you do become disabled, your student loans are (taxably) forgiven, and then you are hit with a humongous tax bill right when you can't even get a job anymore.

This situation is obviously a lot different than an employed physician getting hit with a big tax bill, but it is still a sobering look at the tax bomb and how devastating it can be. Seniors are being forced to sell their family homes, etc.

when you owe money, you owe money.....I'm not weeping for someone because they now owe 30% of what they were forgiven. Feel bad for someone due to their disability, this tax bill is not a reason to feel bad

 

[user3]

when you owe money, you owe money.....I'm not weeping for someone because they now owe 30% of what they were forgiven. Feel bad for someone due to their disability, this tax bill is not a reason to feel bad

👎

 

[Silent Cool]

This article came out a couple days ago:

http://www.nytimes.com/2014/03/28/y...bill-from-the-irs.html?hpw&rref=business&_r=0

While we talk theoretically about the "tax bomb" of taxable student loan forgiveness around the year 2030, the tax bomb is actually happening today for one sad segment of society: the suddenly disabled. If through some unfortunate event you do become disabled, your student loans are (taxably) forgiven, and then you are hit with a humongous tax bill right when you can't even get a job anymore.

This situation is obviously a lot different than an employed physician getting hit with a big tax bill, but it is still a sobering look at the tax bomb and how devastating it can be. Seniors are being forced to sell their family homes, etc.

The lesson being this:

Government has no business interfering in any market. Allow market pressure to set the costs of....everything--including education.

Education across the board should cost about 10% of what it actually does. The *only* reason we are paying what we are is government. Eliminate government and restore market-based pricing mechanisms to the education market, and all will be well.