RUMOR - Biden to announce cancellation of student debt

[*Nately120*]

(08-25-2022, 10:57 PM)BengalHawk62 Wrote: If you ask me, student loan debt forgiveness is WAY better than government bailouts for banks, subsidies for fossil fuel companies, and PPP loan forgiveness for ungrateful millionaire business owners.

Plus, it's not like our government is going to stop doing all that stuff just because they did this loan thing once.

[StoneTheCrow]

Hell yeah, household income was $222k! Shame we don’t drive electric yet, soon though. Fingers crossed we’ll be there soon, Utopia!

[Belsnickel]

(08-25-2022, 09:16 PM)Nately120 Wrote: My taxes should go towards paying for bombs to drop on people I've never met, not paying the student loans of people I've never met.

(08-25-2022, 10:09 PM)KillerGoose Wrote: You are a true fuggin’ patriot, my friend.

o7

[BigPapaKain]

(08-25-2022, 08:17 AM)XenoMorph Wrote: True life is about being Responsible for yourself not paying the bills of people you never met

I mean you're free to go buy an island that hasn't been claimed by any nation and set up your own laws and not write a tax code.

It'll just cost you $30,000 to denounce your American citizenship.

Until then, I guess you're stuck paying taxes to the feds - a bunch of which go to states that aren't yours (depending on which state you live in).

[*Nately120*]

I have to say it's a bit odd seeing conservatives go back to complaining about something as mundane as the old "why should my taxes pay for XXX?" when they've been screaming about everything from our entire democracy being a farce, to mandatory vaccines causing you to become magnetic, to the FBI framing Trump and other wacky stuff.  This is some real throw-back butthurt...it seems downright sane.

[samhain]

My view as a privileged individual who has a relative pay for his schooling is this: The whole system of college loans has been a scam for a long time. Kids that age should in no way be making decisions with that amount of money and potential lifelong consequences without some serious financial education. They should be forced to listen to testimony from older borrowers who had their lives significantly impacted by borrowing upwards of 50k when they were in their late teens/early 20's. They should understand that graduating does not equal automatic employment with a salary large enough to live a decent quality of life while paying the debt.

Lenders have a huge advantage when it comes to kids out of high school. The kids come out expecting to leave home and have a traditional college experience because it's what we were all told we had to do for a few decades. Many of these kids have zero direction when it comes to a profession or employable skill. They're going to go to school and figure it all out while simultaneously being given the largest amount of personal freedom they've ever experienced, with very little real world responsibility-or so it seems. If you don't have a somewhat clear path, you are doomed.

Honestly, you'd be better off becoming a parent as a teen than you would borrowing to go to college without a real plan for what happens after. It's every but as bad of a life decision if you don't have parents with money to pay for it. College is a hell of a lot more fun than work, but if I skipped college and got a job similar to some of the ones that my non-college attending friends did out of high school, I'd have close to a mil in my 401K and be eyeing retirement at 50 in about 5 years. Most kids don't figure that sort of thing out until it's way too late.

I have no problem with forgiveness of the loans. I actually think they should forgive them all and employ a more stringent policy for lending in the future. Borrowers should be people that have legit, definable career goals in mind and no means to obtain it. The people going to college to party and dick around at young adult day camp for 4 years need to be weeded out.

[BmorePat87]

Pell grants and I make under $125k. Hell yea, baby. Goodbye $14k federal loans.

[Leon]

disagree with alot of what biden does but aint got no problem with this

[Arturo Bandini]

[CarolinaBengalFanGuy]

The real question is does this change how midterms turn out? I think so. For full effect he should have done this in October

[BmorePat87]

I'm seeing some wild claims about the impact on taxpayers. I've seen estimates from $240-600m (over 10 years).

We're talking from less than half a percent to upwards of 2% of the total federal budget.

I saw one article note the 10 year price tag and then present the taxpayer burden as a lump sum (total cost divided by tax payers). Using an average is incredibly disingenuous in this case, as we know that tax burdens are not equally applied to all tax payers.

It's also wild how something that directly benefit individuals making under $125k is raising a bigger stink than PPP "loans" that primarily helped the wealthy, cost more, and were not paid back.

[*pally*]

(08-28-2022, 03:28 AM)CarolinaBengalFanGuy Wrote: The real question is does this change how midterms turn out? I think so. For full effect he should have done this in October

Well according to Ted Cruz, it means that entitled baristas are going to put down their bongs to vote with mail in ballots hand delivered to them by Democrats.

It is amazing to me that Cruz thinks insulting hard working service employees is the way to go. It is not like they are sitting around doing nothing. Working in food service is bloody hard work.

My 3 nieces get loan relief. Niece 1 is a critical care nurse practitioner. She spent 80+ hours per week caring for COVID patients in the ICU. Niece #2 is a medical hospital based social worker. Niece #3 is a Trauma Air Care nurse. Her helicopter crashed last month and she badly injured her spine. She may never be able to work again. This loan relief lifts a major burden from her at a time when her future is uncertain.

[CarolinaBengalFanGuy]

(08-29-2022, 04:20 AM)pally Wrote: Well according to Ted Cruz, it means that entitled baristas are going to put down their bongs to vote with mail in ballots hand delivered to them by Democrats.

It is amazing to me that Cruz thinks insulting hard working service employees is the way to go. It is not like they are sitting around doing nothing. Working in food service is bloody hard work.

My 3 nieces get loan relief. Niece 1 is a critical care nurse practitioner. She spent 80+ hours per week caring for COVID patients in the ICU. Niece #2 is a medical hospital based social worker. Niece #3 is a Trauma Air Care nurse. Her helicopter crashed last month and she badly injured her spine. She may never be able to work again. This loan relief lifts a major burden from her at a time when her future is uncertain.

Honestly younger generations can’t even drive to vote when they’re perfectly capable to I do not see them mailing in a ballot. Probably never mailed anything in their life. But I do think they will come out in force to vote in person.

[Arturo Bandini]

(08-29-2022, 04:20 AM)pally Wrote: Well according to Ted Cruz, it means that entitled baristas are going to put down their bongs to vote with mail in ballots hand delivered to them by Democrats.

It is amazing to me that Cruz thinks insulting hard working service employees is the way to go. It is not like they are sitting around doing nothing.  Working in food service is bloody hard work.

My 3 nieces get loan relief.  Niece 1 is a critical care nurse practitioner.  She spent 80+ hours per week caring for COVID patients in the ICU.  Niece #2 is a medical hospital based social worker. Niece #3 is a Trauma Air Care nurse. Her helicopter crashed last month and she badly injured her spine.  She may never be able to work again.  This loan relief lifts a major burden from her at a time when her future is uncertain.

Ted Cruz discovering that when you do things for real people they vote for you.

But I guess he doesn't care because of gerrymandering.

[BigPapaKain]

(08-29-2022, 07:45 AM)CarolinaBengalFanGuy Wrote: Honestly younger generations can’t even drive to vote when they’re perfectly capable to I do not see them mailing in a ballot. Probably never mailed anything in their life. But I do think they will come out in force to vote in person.

Broad strokes.

If you actually talked to younger people, you'd realize that they can't afford to take time off of work to go vote. That's why they're always saying that voting day needs to be a national holiday. They want to, but they're locked into a paycheck-to-paycheck lifestyle. Couple that with politicians consistently making it more difficult to vote and doing everything they can to disenfranchise voters, it's no surprise the only people who vote in every cycle are the people waiting for Death or a call from their grandkids.

[*Nately120*]

(08-29-2022, 07:45 AM)CarolinaBengalFanGuy Wrote: Honestly younger generations can’t even drive to vote when they’re perfectly capable to I do not see them mailing in a ballot. Probably never mailed anything in their life. But I do think they will come out in force to vote in person.

I live in PA and I think we should just have two places to vote, Pittsburgh and Philly.  If you can't get off your ass and drive to a real city and vote then you just need to admit that you can't be bothered. 

When this country was founded people probably had to ride a buggy 100 miles to vote.  We is a lazy ass group now.


I'm being hyperbolic here, but isn't this just another one of those situations where people say that it should be harder to do something, but they really mean that it should be harder for others and/or people who aren't going to vote like you to do it?  Lordy in 2016 one of my buddies had a mom who saw a stat that said Trump would easily win if women weren't allowed to vote and she tried to convince us that women were too emotionally unstable to vote and shouldn't be allowed to.  The ends always justify the means, I guess. 

[*pally*]

All I know, that at this point, I never ever want to hear another Republican advocate for private school vouchers that only benefit people who can afford the private schools in the first place.

[Mickeypoo]

(08-24-2022, 05:54 PM)NATI BENGALS Wrote: I prefer helping out the lower and middle class. Compared to pandering to the rich. If you vote for the GOP you would rather see this money go to the rich. If you vote for democrats you would rather see this money go to lower and middle class.

Now under democratic control. The lower and middle class are getting a break. And the rich are getting an army of IRS agents to cast a wide net and catch a bunch of tax cheats.

Won’t see me crying about it

You've biased yourself so badly into OMB and GOP evil you cannot see they both work for the same people and they both suck, nor do they care about the peasants.  Open your eyes bro.

A household making up to 250k is not lower/lower middle.  That is rich.  Legitimately rich.  

If my wife and I made a combined 250k I could literally have anything I ever wanted to buy in my life.  I would be 100% debt free.  No home loan, no vehicle loans, no credit card debt, everything would be paid a year in advance.  My wife and I couldn't sniff 250k if it was the stankest green on the planet.

[Mickeypoo]

(08-25-2022, 09:16 PM)Nately120 Wrote: My taxes should go towards paying for bombs to drop on people I've never met, not paying the student loans of people I've never met.

Even though this is a joke, I still agree.  

[KillerGoose]

(08-30-2022, 12:18 PM)Mickeypoo Wrote: You've biased yourself so badly into OMB and GOP evil you cannot see they both work for the same people and they both suck, nor do they care about the peasants.  Open your eyes bro.

A household making up to 250k is not lower/lower middle.  That is rich.  Legitimately rich.  

If my wife and I made a combined 250k I could literally have anything I ever wanted to buy in my life.  I would be 100% debt free.  No home loan, no vehicle loans, no credit card debt, everything would be paid a year in advance.  My wife and I couldn't sniff 250k if it was the stankest green on the planet.

$250k household is considered upper, but not rich. Depending on the area you live in, $250k won't go as far as you think it will. The top 1% is considered rich, or wealthy. That is $500k+.

Now, if we are talking about a single individual making $250k, then you're pretty damn close to rich territory, with the caveat of location.