Friday, September 30, 2022

The law of unintended consequences strikes again -

Especially if you're stupid - and an attorney.

Pacific Legal Foundation, a 'Libertarian public interest law firm' in California, is representing Frank Garrison of Indiana in a lawsuit against the U.S. Department of Education and Secretary Miguel Cardona. 
Garrison, who works for Pacific Legal Foundation as an attorney, is on track to have his student loans forgiven, tax free, through the Public Service Loan Forgiveness program. He's on year 6 of monthly payments through the 10-year-plan. After 10 years, the remainder of his student loan debt would be forgiven tax-free. However, Biden's plan would automatically cancel $20,000 Garrison's debt. Indiana is one of seven states that plans to tax any debt forgiven in Biden's plan, so Garrison would owe more than $1,000 in state and local taxes.
So - if I get this straight - the guy doesn't want to get rid of $ 10,000.00 worth of debt because then he'd owe $ 1,000.00 in taxes. 
Why - that makes perfect sense to me... 




1 comment:

  1. Maybe Mr Garrison is simply an honorable man whose ethical commitment to paying his consciously entered-into debt can’t be bought for $9,000.

    ReplyDelete

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