alt Hacker NewsIsn't the entire point of these assessments to look at total assets, and not just annual income?
I dont think this was an oversight or mistake. I think the expectation was that yes, people should sell assets if they have them .
Replies
switchbak • last Wednesday at 11:34 PM
Should they also cut their kidneys out and sell those too?
For someone not in your system, the expectations that seem normal to you sound absolutely insane to others.
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to11mtm • last Thursday at 12:04 AM
I'd ask how the assets are structured internally.
Is it a small business netting the owner 100K a year with 500K in the bank?
That's different than a small business netting the owner 75K a year but the trucks and equipment for the landscaping business (easiest example, replace as needed) being worth 200K...
It's complicated.
The "mistake" is that the assets themselves are the source of income. Sell them off, and the income goes away too. It's the equivalent of expecting the parents to use 100% of their income to put their kids into college, which is impossible.