Forgive Student Loans?

[C-south]

Why doesn’t the government just open a “student debt relief fund for idiots” that is funded exclusively by donations. I’m sure all those in favor would contribute massively.

 

[Majors]

lol.....That's probably little comfort to the hundreds of people Trump has swindled and left holding his debts.

Who has he swindled, can you validate that or just another Trump attempt because you fail to acknowledge life was easier during his time.

 

[utvolpj]

lol.....That's probably little comfort to the hundreds of people Trump has swindled and left holding his debts.

This thread is about the fed govt swindling citizens for over $2T. Then they want to swindle others to pay back their original swindle. Yeah, keep worrying about Trump’s personal dealings

 

[LouderVol]

I'll bite. I'm fine with it and I, at the same time, think there is more that can be done. Happy? Reminds me of the PPP loans. Reactionary, unfocused yet better than doing nothing.

Except were they really? All we keep doing is trading short term pain for longer term pain. It's why we never learn our lessons or fix our problems.

 

[luthervol]

This thread is about the fed govt swindling citizens for over $2T. Then they want to swindle others to pay back their original swindle. Yeah, keep worrying about Trump’s personal dealings

Nothing says I'm in touch with my base like a 170K vehicle.

Maybe a gold plated toilet seat.

My response was for Majors who was discussing being out of touch with the base.
Why didn't you feel the need to remind him what the thread was about? Rhetorical.

 

[LouderVol]

I've got some return news for you Pedro, if you do not understand that 90% of government in place today is a response to the failures of capitalism, then you aren't paying attention.

I would flip your percentages.

Military, SS, welfare, and the IRS have nothing to do with capitalism.

 

[Ashevolle]

It's printing money. It's just the other side of the equation. This is dumb to do in the middle of a recession and high inflation.

You know what happens when there's more inflation? Rates go up. Congrats, it was just extended even more so these people who allegedly can't get out of student loans certainly can't afford a house at a rate of 5.55%. As @volinbham noted, this'll be a net loss on the people you claim it helps but at the expense of everyone else too.

Agree to disagree that this is printing money. I think your logic is backwards

 

[Hoosier_Vol]

Biden student loan handout to cost roughly $500B, according to Committee for a Responsible Federal Budget

 

[Ashevolle]

we shouldn't be cutting taxes in an inflationary period

tax cuts almost always go to everyone whereas this is a targeted gift.

further those who complain about tax cuts for the rich seem cool with this eventhough it benefits upper middle income people with higher earning potential. The $250K / couple (assuming that's AGI) is closer to a $300K household. That puts the household in the 96th percentile! Even 250K is the 94th and for those 125K individuals they are in the 76th assuming no other household income.

so if we are calling out people selectively complaining then we need to expand the list

Tax cuts are rarely (in recent history) anything but a targeted gift to the top earners.

 

[Vol423]

Tax cuts are rarely (in recent history) anything but a targeted gift to the top earners.

Should it really come as any surprise that federal income tax cuts largely benefit individuals that actually pay federal income taxes? Roughly half of Americans don't.

 

[SpaceCoastVol]

I've got some return news for you Pedro, if you do not understand that 90% of government in place today is a response to the failures of capitalism, then you aren't paying attention.

You want a nanny state.

And your Pedro comment is racist

 

[Vol423]

tax cuts almost always go to everyone whereas this is a targeted gift.

I am in highly in favor of tax cuts, but your statement about tax cuts that I've quoted is not accurate. Actual decreases in tax rates almost always go to everyone. However, most "tax cuts" aren't changes to the tax rates. Most "tax cuts" are usually changes to the tax code made to benefit a very specific subset of individuals.

 

[Vol737]

Agree to disagree that this is printing money. I think your logic is backwards

These loans are money that was supposed to be paid back. Now, an estimated $500B will be transferred to the tax payers. You can parse words and split hairs all you want, the end result, same as printing money, is that now the 52% and or so if people that actually pay federal income tax are on the hook for the added debt. It’s the same net result.

 

[SpaceCoastVol]

Tax cuts are rarely (in recent history) anything but a targeted gift to the top earners.

 

[sonofUT62]

They're home to Chase, Discover, Bank of America, etc. but I'm sure he was just voting on his rock solid Scranton blue collar lunch pail coverall roots.

I’ll have to get my facts straight so I’m not slandering someone. But my INITIAL recollection is that when he and Dr Jill moved to DC and he became VP, a member of BOA board bought his house about 200K over appraisal. Which was natural since we had a blazing real estate market in the winter of 08.

 

[Vol737]

I've got some return news for you Pedro, if you do not understand that 90% of government in place today is a response to the failures of capitalism, then you aren't paying attention.

Smdh. Your disconnects are chronic and your rationale breathtakingly ridiculous.

 

[Orangeburst]

Disgusting

Top universities sitting on over $200B in endowments while taxpayers foot bill for Biden student debt handout

 

[82_VOL_83]

It's printing money. It's just the other side of the equation. This is dumb to do in the middle of a recession and high inflation.

You know what happens when there's more inflation? Rates go up. Congrats, it was just extended even more so these people who allegedly can't get out of student loans certainly can't afford a house that they want at a rate of 5.55%. As @volinbham noted, this'll be a net loss on the people you claim it helps but at the expense of everyone else too.

FIFY

We bought our first house at 10%. Want't the one we wanted but the one we could afford.

 

[PEPPERJAX]

You want a nanny state.

And your Pedro comment is racist

I never knew that you are Hispanic.

 

[sonofUT62]

Disgusting

Top universities sitting on over $200B in endowments while taxpayers foot bill for Biden student debt handout

But they spent millions of that endowment lobbying for forgiveness.

 

[Majors]

You want a nanny state.

And your Pedro comment is racist

Very insensitive comment to the Spanish Vols on this board.

 

[Orangeburst]

The cumulative federal student loan debt has skyrocketed to $1.6 trillion for 45 million borrowers. While Biden's plan would chip away at that figure using tax revenue, total student loan debt will return to $1.6 trillion in just five years, according to the Committee for a Responsible Federal Budget.

 

[sonofUT62]

I've got some return news for you Pedro, if you do not understand that 90% of government in place today is a response to the failures of capitalism, then you aren't paying attention.

Absolutely. A good reminder is this weeks 30 year anniversary of the Marshal Service and FBI murdering those billionaires out in Idaho. Capitalist pigs had it coming!!!!

 

[volinbham]

Tax cuts are rarely (in recent history) anything but a targeted gift to the top earners.

demonstrably untrue - they almost always provide a reduction in taxes for all income levels. It may not be the exact same amount to all income levels but they have impacts across the board.

 

[82_VOL_83]

Tax cuts are rarely (in recent history) anything but a targeted gift to the top earners.

And all the recent handouts for Covid and other things are targeted to buy votes for the low information voter. What's your point?