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So an ass walks into my office, and bleats out a lie. [1]

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Date: 2022-10-19

Lol. Repubs so desperately want to believe, that logic is overridden by emotion. I had a colleague tell me yesterday that the IRS was going to tax my daughters loan forgiveness amount. He said it with such conviction, that of course, I had my doubts, and upon inspection, turns out be not true.

The Dems, of course wrote the American Rescue Plan with a clause that exempts the money from taxation from the federal government (aka the IRS). Now, the Dems can’t control what states that have a state income tax will do, and yes, there are seven states, including California, that appear to need some action by their state legislatures to exempt this from state income tax, and some are still reviewing their statutes, but good ol’ Mississippi has chimed in that, yes, will not change their statutes and will collect state income tax on the forgiveness. (Someone’s gotta pay for that damn volleyball palace at the University of Southern Mississippi, lol).

Hannity and Tuck’ems both do this all the time. Take a kernel of truth (loan forgiveness is counted as taxable by the IRS), mix in a few outrageous leaps of logic, sprinkle in a Pelosi, Biden, or the Squad, come to an obvious (to them, anyway) conclusion, which of course makes the whole conspiracy like catnip to my dumbass colleague(s).

My daughter and soon to be son-in-law knocked the form out quickly.

So, the moral of the story is:

*The IRS ain’t taxing loan forgiveness.

*If your state doesn’t have a state income tax, it ain’t taxing loan forgiveness.

*One of the articles names the 7 states in question. Each of them has an issue. If you live in one of these states, then check with your state government.

A couple of September links.

www.taxpolicycenter.org/…

www.npr.org/...

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[1] Url: https://www.dailykos.com/stories/2022/10/19/2130057/-So-an-ass-walks-into-my-office-and-bleats-out-a-lie

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