Forgive Student Loans?

[sonofUT62]

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

Low information/ don’t want to be informed as long as the checks keep coming. Guess it’s same thing.

 

[82_VOL_83]

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.

That is patently incorrect. Capitalism is success AND failure. The Fed should let any capitalist venture that fails, fail. Don't bail out anyone. Government shrinks and businesses become more responsible. Your government bloat is from the Feds efforts to help. Get the **** out of the way and let the economy be the economy.

Short answer, it's not capitalism at fault, it's the .gov at fault.

 

[RikidyBones]

FIFY

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

It'll be a rough lesson for my generation (millennial) and younger. But that's what happens when you pound the table in support of dumb economic policies.

I've purchased four houses at the age of 34. The current price with the rate makes it an ugly scene. At least here in Florida.

 

[82_VOL_83]

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.

Can I figure out how much of that bill I have to pay and go repossess a car or ten to make up for it?

 

[volinbham]

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

As you noted in a prior post this is lost revenue to the US government with no matching reduction in costs. By definition that is a revenue shortfall that must be covered - the Fed can do that by borrowing money or printing money.

There's no way around it.

 

[Vol737]

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

And why is that? Because any percentage cut in taxes is reflected as a larger dollar amount for higher earners. It’s simple math. 48+ percent pay no federal income tax at all. Now, who pays most of our federal income taxes??



We can argue what tax rates should or should not be, or where tax cuts or increases should be targeted. The reason we won’t see tax rates going much higher than a couple of percentage points for the foreseeable future is sitting right there in the House and Senate….rich democrat reps that keep you believing they’re on your side and they are fighting the good fight on your behalf. Psshhhht!! And the $500B that Joe just transferred to the taxpayers and added to the national debt further eviscerates the purchasing power of the middle class. A 50% reduction in the size and scope of the .gov is a better answer than the 2-3% tax increase on the top 10%. It does nothing.

 

[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.

Here’s some return news for you. 90% of what’s wrong with capitalism is caused by the government…….

 

[SpaceCoastVol]

I never knew that you are Hispanic.

I love Mexican food

 

[PEPPERJAX]

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.

What is your solution? Expand the government even more to make capitalism better? Please snort smart pills for once in your life.

 

[volinbham]

What is your solution? Expand the government even more to make capitalism better? Please snort smart pills for once in your life.

I'd like to know what the 10% of government is that isn't a response to failures of capitalism...

 

[volfanhill]

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.

It's the laziest argument democrats make when it comes to tax cuts. Of course those who pay the most, (rich people), benefit the most from tax cuts as we have a graduated income tax system. They will max out the cut at every level of the graduated system.

 

[volbound1700]

Capitalism isn't a philosophy or something people choose to do, it is the natural state of the economy. It isn't great but it is the DEFAULT. All systems work under it, even the ones with government intervening to be a player. At some point there is value to a good, supply and demand, etc. You are NOT going to escape Capitalism because it is reality.

Please go read Adam Smith's Wealth of Nations before spouting political nonsense. Issue with people today is that they are free to give opinions without reading or understanding the topic they are commenting on.

 

[kiddiedoc]

I must have missed something. Did only democrats get the 10k forgiveness?

Correct. The rest of us actually found gainful employment, had a financial plan, and paid off our own damn loans.

 

[RikidyBones]

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

You sure about that, chief?

 

[luthervol]

You want a nanny state.

And your Pedro comment is racist

I was going for an equally stupid, juvenile, and offensive of term as "Chief". Glad to see you got the point.

 

[allvol123]

Better start growing that “forgiveness “ account.

UT leaders get creative with student housing in a record-breaking year of enrollment | wbir.com

 

[LouderVol]

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.

Someone check my math, but for me this comes out to an average of over 35k per person.

So the write off would theoretically reduce amounts owed by 1/3. But it comes back in 5 years? woof.

 

[LouderVol]

Here’s some return news for you. 90% of what *luther believes is* wrong with capitalism is caused by the government…….

Fyp a bit

 

[82_VOL_83]

Better start growing that “forgiveness “ account.

UT leaders get creative with student housing in a record-breaking year of enrollment | wbir.com

What did they do over the smoking hole that was Andy Holt?

 

[MOOOOONEY]

You're saying doing the wrong thing is good business if it puts a dollar in your pocket? That's where we disagree and that is precisely the type of thinking that necessitates government.
Do better and there will be less government.

Government: we are going to guarantee student loans. We want everyone who applies to be approved. It doesn’t matter what they plan to major in, their high school GPA, or credit worthiness.

Banks: OK we will loan to anyone who has applied.

Universities: Great! We may need to lower our admittance standards and create new worthless degrees, but we welcome the opportunities to increase our enrollment and tuition costs.

Campus bookstores: we need our share also. Let’s change the edition of books that are used in our classes every 2 years. All we have to do is change the chapters around and call it a new edition.

Luther: we need more government!

 

[Majors]

Government: we are going to guarantee student loans. We want everyone who applies to be approved. It doesn’t matter what they plan to major in, their high school GPA, or credit worthiness.

Banks: OK we will loan to anyone who has applied.

Universities: Great! We may need to lower our admittance standards and create new worthless degrees, but we welcome the opportunities to increase our enrollment and tuition costs.

Campus bookstores: we need our share also. Let’s change the edition of books that are used in our classes every 2 years. All we have to do is change the chapters around and call it a new edition.

Luther: we need more government!

Tennessee going back to the ACT 18 and 2.0 GPA

 

[82_VOL_83]

You're saying doing the wrong thing is good business if it puts a dollar in your pocket? That's where we disagree and that is precisely the type of thinking that necessitates government.
Do better and there will be less government.

Why is it wrong?

 

[allvol123]

What did they do over the smoking hole that was Andy Holt?

More housing I believe. I don’t know the name of it.

 

[SpaceCoastVol]

I was going for an equally stupid, juvenile, and offensive of term as "Chief". Glad to see you got the point.

What, that you are a racist AND a socialist?

We all know that, stud.

 

[RikidyBones]

I was going for an equally stupid, juvenile, and offensive of term as "Chief". Glad to see you got the point.

Whats offensive about "chief"?