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There have been a few proposals to close that loophole. The main reason it exists is because debt isn't counted as income since it has to be repaid.
by jeffreyrogers 5mo ago
There have been a few proposals to close that loophole. The main reason it exists is because debt isn't counted as income since it has to be repaid.
- whatshisface 5mo agoYes, even if it never is. But you have to realize that these proposals to close loopholes are massive tax increases, not technicalities.