I know how it works. You pay the tax on the amount forgiven as if it were income. That amounts to paying roughly 30-40% of the total amount, which is far from "the whole amount," particularly when you factor in inflation. There's a great forgiveness calculator
elsewhere on the web that can show you what your forgiveness amount will end up costing you in present dollars.
As to corporations, by leaving the US, they are no longer US-taxable entities in the same way that US citizens that renounce their citizenship are no longer taxable. The reason for not taxing multinational corporations' global income is because they're
multinational. If we tax their global income, every single one of them will vacate the United States. There is no downside to their doing so, at all, whatsoever, and a whole hell of a lot to gain. We need to have favorable tax treatment if we want to keep such corporations around at all, as they have many options in a global world.
And I know plenty. Disagreeing with you doesn't mean that I know nothing, it means that I disagree with you. My assessment of the facts leads me to a different conclusion than your own. I'm pretty well versed in the unintended economic effects that were brought about by both the federally-backed loan programs and Medicare, both of which caused spending to skyrocket because schools, physicians, and hospitals realized they could charge far more since the government was providing an easy way for them to get paid, and there was no longer an incentive to hold prices down to a reasonable level that people could afford.
