minus-squarePateecakes@lemmy.worldtoNews@lemmy.world•Supreme Court to hear major case that could upend tax code and doom "wealth tax" proposalslinkfedilinkarrow-up2·2 years agoThat puts it pretty simply, but yes. And at least in 2008 it was mostly loans instead of hand outs so it got paid back. linkfedilink
minus-squarePateecakes@lemmy.worldtoNews@lemmy.world•Supreme Court to hear major case that could upend tax code and doom "wealth tax" proposalslinkfedilinkarrow-up6·2 years agoWhen the asset doesn’t pay off you get to write that off on your taxes. linkfedilink
That puts it pretty simply, but yes. And at least in 2008 it was mostly loans instead of hand outs so it got paid back.