Austin Murray

Lawyer. I drop my phone a lot. I'm not cool but at least I'm also not funny. I played a girl's hands in a movie.

[derek @brainedimage]

chatgpt: I am conscious. I feel!

me: ok invent hell and go there for 32948293842 years per second. invent a loving family and blow them up 934892384 times and cry forever and suffer

chatgpt: Done. Anything else?

me: in fridge have mustard and celery what make for dinner

[Meg @megannn_lynne]

mcnulty: sorry i’m late, i was having sex. where are we on stringer bell

kima: sorry i’m late, blame my annoying baby. gotta go find bubs

bunk: despite drinking enough to kill a horse nightly, i’m never late

lester: I Am Become Computer

[DC Pierson @DCpierson]

DON DRAPER: "We quiero many things. Family, safety, love. But this guy--"
(Taps drawing of chihuahua)
"There's only one thing he quieros."

[Matt Margolis @ItsMattsLaw]

Surround yourself with lawyers who can email at this level

[Austin Murray @Austin_Murray]

@BlueelvisEric @engineofgod @ian_mckelvey I agree with this definition.

[Austin Murray @Austin_Murray]

@BlueelvisEric @engineofgod @ian_mckelvey Yes the analogy here is inapplicable to government lending I agree.

Money is fungible. The government is constantly spending tax revenues or declining to pursue entitled tax revenues on things that a subset of taxpayers disagree with. This is how representative democracy works.

[Austin Murray @Austin_Murray]

@BlueelvisEric @engineofgod @ian_mckelvey I'm only here to dispute @ian_mckelvey incorrectly stating that in the $10 debt scenario, the obligee suffered a loss when in reality this was a debt forgiveness.

[Austin Murray @Austin_Murray]

@BlueelvisEric @engineofgod @ian_mckelvey You've introduced a lot of new facts and assumptions here that don't exist in the original analogy.

[Austin Murray @Austin_Murray]

@engineofgod @ian_mckelvey @BlueelvisEric Respectfully, this is wrong. Under cash accounting, it's not income until you actually receive the $10. If you forgive it before you do, it's never income and will never be taxed. See IRC 451(a).

[Austin Murray @Austin_Murray]

@ESchmitt0 @BlueelvisEric @ian_mckelvey Yes tax remittances are the largest source of revenue for the federal government. I'm just saying that for the government, there are many times when it's good policy, fiscal or otherwise, to forgive debt.

[Austin Murray @Austin_Murray]

@BlueelvisEric @ESchmitt0 @ian_mckelvey The US government is the obligor on the national debt. In the original example it was the obligee forgiving the debt.

[Austin Murray @Austin_Murray]

@BlueelvisEric @ESchmitt0 @ian_mckelvey It depends on a lot things but mostly how many 8 year gender studies grads you have living with you.

[Austin Murray @Austin_Murray]

@ESchmitt0 @BlueelvisEric @ian_mckelvey The reason this matters is because the original contention was incorrect.

With respect to governmental lending, there are numerous fiscally sound reasons to forgive debt or to elect not to pursue obligations. The government does it every day all across the government

[Austin Murray @Austin_Murray]

@BlueelvisEric @ian_mckelvey Approx 2.5% of IRS staff can carry a weapon

[Austin Murray @Austin_Murray]

@BlueelvisEric @ian_mckelvey Respectfully, this also is incorrect. The 87,000 hires (over a decade) was a subcomponent of a Treasury Department request. It was not a mandate. Virtually no IRS agents are armed.

[Austin Murray @Austin_Murray]

@BlueelvisEric @ian_mckelvey Government forgives or elects not to pursue debt it is legally entitled to all the time for a multitude of sound economic reasons. Further, government also elects not to pursue tax revenues it's entitled to again for numerous sound economic reasons.

[Austin Murray @Austin_Murray]

@BlueelvisEric @ian_mckelvey It doesn't apply. Governmental entities don't pay tax. This example was two private individuals "l" and "you".

[Austin Murray @Austin_Murray]

@BlueelvisEric @dave_wer @ian_mckelvey It isn't satire and introducing a "contract of repayment" doesn't change the rules. IRC section 166 defines bad debts. It requires they be bona fide, which they are in this example, and it requires a good faith attempt to collect. Forgiveness, as happened here, disqualifies.

[Austin Murray @Austin_Murray]

@ian_mckelvey @BlueelvisEric Hey I'm a tax attorney and respectfully you guys are wrong. Under cash accounting, you can't recognize the $10 as income so you can't recognize the loss. Under accrual method, saying "forget about it" is voluntary forgiveness. It doesn't meet the statutory definition of bad debt

[Austin Murray @Austin_Murray]

@JacobsFieldRBW I'm a bad lawyer. The reason this isn't contempt, among other dumb reasons, is the administration can argue the legal definition of "facilitate."