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Should Wall Street pay off student debt - Printable Version +- Cincinnati Bengals Message Board / Forums - Home of Jungle Noise (http://thebengalsboard.com) +-- Forum: Off Topic Forums (http://thebengalsboard.com/Forum-Off-Topic-Forums) +--- Forum: Politics & Religion 2.0 (http://thebengalsboard.com/Forum-Politics-Religion-2-0) +---- Forum: P & R Archive (http://thebengalsboard.com/Forum-P-R-Archive) +---- Thread: Should Wall Street pay off student debt (/Thread-Should-Wall-Street-pay-off-student-debt) |
RE: Should Wall Street pay off student debt - michaelsean - 06-26-2019 (06-26-2019, 11:24 AM)Mike M (the other one) Wrote: Bernie Sanders wants Wall Street to pay off the US's $1.6 trillion student-loan debt. Even Democrats are likely to push back on the plan.[*] Hell yeah! I just had a daughter graduate, and a son that will (hopefully) be going in a year. I own mutual funds so really not any transactions. Bring it on Bernie. My turn to be a taker. RE: Should Wall Street pay off student debt - Dill - 06-26-2019 (06-26-2019, 11:24 AM)Mike M (the other one) Wrote: [*]Presidential candidate Sen. Bernie Sanders proposed on Monday a plan to eliminate the $1.6 trillion in student-loan debt held in the US and make all public higher education tuition-free, carving out new territory in a competitive Democratic presidential primary.[*] All for a tax on financial transactions. Just curious about how free public higher ed would affect the US ed system. Would it make private schools even more prestigious? A realistic initial goal would be to reduce tuition by 1/4 at public institutions over three years. Then reduce it to half over ten years. Stop there to assess. RE: Should Wall Street pay off student debt - Benton - 06-26-2019 (06-26-2019, 12:26 PM)Dill Wrote: [*][*] There are a few countries that offer free post secondary. I like that. Trade or 2 year degree is free (or close to it). Anything beyond is on you. Overall I think the "you have to have a degree" mindset is a bad. RE: Should Wall Street pay off student debt - michaelsean - 06-26-2019 (06-26-2019, 01:30 PM)Benton Wrote: [*][*] Eff that. Gimme my 80 grand. Well not me. Best send it right to whoever it's owed to. I still got some redneck in me. RE: Should Wall Street pay off student debt - Dill - 06-27-2019 (06-26-2019, 01:30 PM)Benton Wrote: [*] I'm with you on the trade and 2 year degrees. But the "you have to have a degree" mindset is embedded in a larger, more serious problem--the view that education is just job training, and higher ed is just higher job training. From that starting point, the problem of job training, access to other and cheaper kinds looks like a solution. Education--i.e., liberal education--is not in the picture at all. I'm not for that version of higher ed. RE: Should Wall Street pay off student debt - Belsnickel - 06-27-2019 (06-27-2019, 01:17 AM)Dill Wrote: I'm with you on the trade and 2 year degrees. That's capitalism for you. RE: Should Wall Street pay off student debt - michaelsean - 06-27-2019 (06-27-2019, 09:17 AM)Belsnickel Wrote: That's capitalism for you. Well I'm not dropping 80 grand so I can better discuss archaic philosophy with Dill. ![]() RE: Should Wall Street pay off student debt - Dill - 06-27-2019 (06-27-2019, 10:55 AM)michaelsean Wrote: Well I'm not dropping 80 grand so I can better discuss archaic philosophy with Dill. ?? you just relinquished your claim. They transferred it to my account. I spent four hundred dollars on a leather bound complete works of Plato and Aristotle, and used the rest for a motorcycle and a brand new Silverado. RE: Should Wall Street pay off student debt - michaelsean - 06-27-2019 (06-27-2019, 11:31 AM)Dill Wrote: ?? you just relinquished your claim. They transferred it to my account. Nah I already dropped that on my daughter. I'm getting what's mine. RE: Should Wall Street pay off student debt - Au165 - 06-27-2019 Do those who actually paid their debt themselves get a refund? I am up for making higher education free, or cheaper, but I am not interested in paying off someone who knowingly took on 100k in debt for a fine arts degree. What you are rewarding here is people who improperly estimated their earning power based on their chosen degree, or simply didn't care. That is an insult to those of who put "following your dreams" aside for making smart financial decisions in terms of career and education choices. RE: Should Wall Street pay off student debt - Mike M (the other one) - 06-27-2019 (06-27-2019, 02:27 PM)Au165 Wrote: Do those who actually paid their debt themselves get a refund? I am up for making higher education free, or cheaper, but I am not interested in paying off someone who knowingly took on 100k in debt for a fine arts degree. What you are rewarding here is people who improperly estimated their earning power based on their chosen degree, or simply didn't care. That is an insult to those of who put "following your dreams" aside for making smart financial decisions in terms of career and education choices. And that's a fine point. What I would do is create a list of degrees that are necessary and that we have a shortage of people working in those fields, and those peeps get 100% of the max refund that will be allocated. Then other degrees people would get half or less depending on the usefulness of the degree. RE: Should Wall Street pay off student debt - Au165 - 06-27-2019 (06-27-2019, 03:23 PM)Mike M (the other one) Wrote: And that's a fine point. What I would do is create a list of degrees that are necessary and that we have a shortage of people working in those fields, and those peeps get 100% of the max refund that will be allocated. Then other degrees people would get half or less depending on the usefulness of the degree. I'd be more able to stomach something like this. Teacher? sure give them 100%. Leisure studies? Kick rocks. RE: Should Wall Street pay off student debt - Aquapod770 - 06-27-2019 (06-26-2019, 12:26 PM)Dill Wrote: [*][*] I'm surprised nobody has brought this up yet, but Sweden actually tried Bernie boi's idea. https://www.ft.com/content/b9b40fee-9236-11e2-851f-00144feabdc0 It was pretty much a huge disaster. RE: Should Wall Street pay off student debt - Dill - 06-27-2019 (06-27-2019, 04:29 PM)Aquapod770 Wrote: [*][*] Dead link? Or do I have to subscribe to the Financial Times? RE: Should Wall Street pay off student debt - Dill - 06-27-2019 (06-27-2019, 02:27 PM)Au165 Wrote: Do those who actually paid their debt themselves get a refund? I am up for making higher education free, or cheaper, but I am not interested in paying off someone who knowingly took on 100k in debt for a fine arts degree. What you are rewarding here is people who improperly estimated their earning power based on their chosen degree, or simply didn't care. That is an insult to those of who put "following your dreams" aside for making smart financial decisions in terms of career and education choices. (06-27-2019, 03:23 PM)Mike M (the other one) Wrote: And that's a fine point. What I would do is create a list of degrees that are necessary and that we have a shortage of people working in those fields, and those peeps get 100% of the max refund that will be allocated. Then other degrees people would get half or less depending on the usefulness of the degree. Does the market then decide what is "necessary" or "useful"? "Earning power"? As I mentioned above--seems the rationale for liberal education and citizenship is truly lost, and at a time they seem most necessary and useful. RE: Should Wall Street pay off student debt - Aquapod770 - 06-27-2019 (06-27-2019, 04:42 PM)Dill Wrote: [*][*] Hmm. That's weird, it let me read it at first but now asks for a subscription ![]() https://sverigesradio.se/sida/artikel.aspx?programid=2054&artikel=5302017 https://www.businessinsider.com/sweden-explains-why-a-european-financial-transaction-tax-wont-work-2011-9 https://www.modernmarketsinitiative.org/archive/2018/11/13/this-is-a-test-post RE: Should Wall Street pay off student debt - Dill - 06-27-2019 (06-27-2019, 04:49 PM)Aquapod770 Wrote: [*][*] Looks like a substantial point. Would US traders also move their businesses? I'm not sure. Perhaps not if the tax ultimately costs less than the move. RE: Should Wall Street pay off student debt - michaelsean - 06-27-2019 (06-27-2019, 05:02 PM)Dill Wrote: [*][*] I hope the guy isn't just looking at the number of trades we currently have and going by that like it seems those countries in the one article must have done. They didn't even come close to their projections. RE: Should Wall Street pay off student debt - Mike M (the other one) - 06-28-2019 (06-27-2019, 04:49 PM)Dill Wrote: Does the market then decide what is "necessary" or "useful"? "Earning power"? Yes market would dictate the degrees. Currently Skilled Trades Technology Business Finance Medical Engineering Scientists Education All of those are in high demand jobwise. Maybe find a way to limit the number of people that want a specific degree and award the ones that seem the best fit. The others can still take it, they just pay out of pocket and get a reduced amount from the gov rather than the full reimbursement. There is always a way, just might not be the most desired one. RE: Should Wall Street pay off student debt - Au165 - 06-28-2019 (06-28-2019, 12:43 PM)Mike M (the other one) Wrote: Yes market would dictate the degrees. I always felt like it would make sense for schools to price tuition based on your major and it's expected earning potential. Everyone pays the freshman fee to take general classes then after that it is wholly dictated by the major and it's potential earning power. I am also intrigued by the idea of, instead of taking loans you can simply promise a percentage of your first x years of wages as their payment. If you can't find a good paying job because of the degree they awarded you then you both can feel the pain together. This would incentivize the schools to help you get not just any job but a good paying one. It also would force schools who peddle in worthless degrees to reconsider their business model. |