>>Anytime someone wants to hand me $200K, I'll gladly pay the tax on it.
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>I think a point is being missed here.
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>Someone who can't pay $250 a month (or whatever) on a 25K student loan, and winds up defaulting on it, is not likely to be able to pay the tax on what the feds will treat as earned income. And even if the person winds up going on a payment plan with the IRS for the money, the IRS is more than likely to put a lien on the person, which damages the person's credit.

I know people (one in particular) that pay more like $800 a month and have over $60,000 in student loans. Even if you file bankruptcy a student loan sticks with you. If you don't pay on it then they start garnishing your paychecks. The interest rate is high and they can even garnish Social Security disability and retirement benefit payments.
As for my friend in this position, having an $800 payment every month doesn't do credit score any good even though she pays on it as she should because there is a lot of $ going out. I do not think she (or anyone else) with a student loan like this would have any problems that compare to the ones they have now by canceling the debt.

>My point here is that Warren is not doing ANYONE a favor by claiming she could cancel 95% of student debt - because it won't make life simpler. It'll simply give many an entirely new set of problems.
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>This is a point that every so-called analyst in the MSM has missed when interviewing Warren. Either Warren doesn't understand federal tax laws or she thinks she can convince people she can override them.
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>So - willing to concede she wasn't a good candidate, or should we move on to Round 2? :)

My 2 cents .. I think the was a smart, well-qualified woman for the job -- she wasn't considered a good candidate by some because she wasn't a white male.