Deadbeats to Stop Getting Free Ride

Mortgage deadbeats no longer get tax-free loan forgiveness

George W. Bush signed into law the “Deadbeat Specuvestor Act of 2007” which exempted forgiven mortgage debt from income tax. Fortunately, it expires 1/1. The elimination of this would go a long way to closing our deficit, and making the 99% start to pay their fair share of taxes, too. …