Except, the feds forced businesses to shut down.

Except, the feds forced businesses to shut down.
by EricCartman (2024-02-23 23:54:56)

In reply to: That doesn’t mean it was taxed posted by gregmorrissey

PPP was just an easier way to fund UE benefits. The alternative was mass layoffs and breadlines.

In contrast, no one forced anyone to attend college. People entered into these loans under their own free will and knowingly took out the loans in pursuit of an asset that they can monetize for the rest of their life.

As we have discussed before, the PPP comparison is completely off base here.

Replies:

We’re talking about the double dip which cost me $150b - gregmorrissey 2024-02-24 08:04:06
- This was not a gift. It changed decision-making - catripledomer 2024-02-24 19:52:56
  - It was not taxable. So you might want to amend. - gregmorrissey 2024-02-25 07:42:16
    - What’s the JE to remove the loan? - EricCartman 2024-02-25 09:55:37
      - Depends. Doesn’t really matter. Just a tax vs book differenc - gregmorrissey 2024-02-25 10:20:01
        I understand tax vs GAAP. I passed the CPA exam. - EricCartman 2024-02-25 22:36:30
        There’s nothing at play. It’s just basic math. - gregmorrissey 2024-02-26 00:29:49
        IRS says no double-dipping (see link) - EricCartman 2024-02-26 08:57:00
        Outdated. Congress codified in the next COVID bill - gregmorrissey 2024-02-26 09:23:17
        Thanks. - EricCartman 2024-02-26 14:32:42
        Hope you understand my frustration over the last 2 years - gregmorrissey 2024-02-26 21:48:25