Comments by "Colorme Dubious" (@colormedubious4747) on "You've Got To Be Kidding Me Joe!!! How Could YOU?!!?!?" video.

  1. I think this student loan forgiveness scheme is a thinly disguised bribe that's an inflationary budget-buster at best and I'm against it. That being said, how can anyone POSSIBLY be worse off due to the income tax hit from debt forgiveness? If you have an effective tax rate of 20% and get $50K forgiven, you'd owe $10K in tax. That means your net worth just INCREASED by $40K. $40K is more and more is BETTER. Is there anyone left in this country who can do basic elementary school math? I understand that there might be a cashflow timing issue for some people, but it's fairly easy to request an Installment Agreement from the IRS and most state tax agencies. Alternatively, they just had $50K of credit freed up and could borrow against that. Think, McFly, think!
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