Chef Jim Posted August 30, 2022 Share Posted August 30, 2022 9 minutes ago, Over 29 years of fanhood said: Oh absolutely…. When taxes are cut to reduce how much of our money the government steals, they have no compunction about calling it a cost to be paid for. Again dude they don’t give a *****. The government doesn’t run on a balance sheet like the real world. If they don’t “steal” enough the just print more. Wake up. Link to comment Share on other sites More sharing options...
Over 29 years of fanhood Posted August 30, 2022 Share Posted August 30, 2022 3 minutes ago, Chef Jim said: Again dude they don’t give a *****. The government doesn’t run on a balance sheet like the real world. If they don’t “steal” enough the just print more. Wake up. I’m awake alright… if they just printed more and didn’t care I wouldn’t be sending them so much money. and yes when Congress blows up receipts they absolutely go elsewhere to find it at least in theatrics. if you don’t understand and see the redistribution at work then you aren’t quite as smart as once thought… Link to comment Share on other sites More sharing options...
Chef Jim Posted August 30, 2022 Share Posted August 30, 2022 6 minutes ago, Over 29 years of fanhood said: I’m awake alright… if they just printed more and didn’t care I wouldn’t be sending them so much money. and yes when Congress blows up receipts they absolutely go elsewhere to find it at least in theatrics. if you don’t understand and see the redistribution at work then you aren’t quite as smart as once thought… Redistribution. Good lord. No it’s pandering for votes plain and simple. It’s all ***** theater. Link to comment Share on other sites More sharing options...
Buffarukus Posted August 30, 2022 Share Posted August 30, 2022 (edited) 13 hours ago, All_Pro_Bills said: The term moral hazard comes to mind here. People are asking fundamental and legitimate questions. What about me? What about my debts? And why should I subsidize people with degrees from places like Harvard and Yale? Why aren't these universities with multiple billion dollar endowments pitching in a few pennies for paying off loans students took out for the sometimes worthless and high priced degrees these places are peddling? Other questions about personal responsibility. All legitimate questions. decent questions, Harvard and Yale most likely dont have people making below 125k...at least i hope not, or come from families who are well off. the endowment is a really good question. these colleges that make tens of millions off their sport teams alone and some how are not spreading that to the student body in any way. pure profit. its a complete scam, a buisness that has tons of revenue and make kids buy PAPER at the print shops, make kids update books with the SAME info just so they cant but last years book used. some books are 250 dollars! ect ect ect. hopefully this brings the importance of addressing this crap to the forefront. 13 hours ago, All_Pro_Bills said: And just why is student debt more worthy of forgiveness than other types of debt? What about home owners that are now underwater with their home loans? Owing more than the home is now worth, shouldn't they be forgiven a portion of their debt? Or car loan borrowers that are behind in their payments. Shouldn't people that depend on their car to get them to and from work or school or transporting the kids get a break? What about consumer credit card debt? Shouldn't consumers strapped with big balances and monthly payments at onerous rates above 20% have a portion of their debt forgiven? And while we're at it, why hasn't a presumed "progressive" majority proposed or passed legislation to cap obscene interest rate charges? ive never done it but cant all these loans be forgiven through bankruptcy? mostly all of them purchased assets that can be resold to recoup some and that money can be used to purchase somthing more affordable. so most loans do have ways to get out from under or mitigate but student loans are very unique as their is no way to ever get out. bankruptcy does not apply. 13 hours ago, All_Pro_Bills said: Joe has created more trouble than its worth here. Because the freebie Genie's out of the bottle and there's no putting it back. He'll end up placating a small minority of his base but pissing off and alienating almost everyone else. Politically stupid right now, and economically a disaster. At this point I'm wondering why any of us should have to service any loans or payments of any kind? I mean, we "deserve" nice things too, right? Let the government and the taxpayers take care of it. Time to enjoy the good life for everybody! true but just with obama care i see Rs being very angry but if they get power do they have a plan to address this? i doubt it. they will fight to stop the payments and then ignore any addressing of the issue and let it conflate more until the dems, once again, look to pay people off. Edited August 30, 2022 by Buffarukus Link to comment Share on other sites More sharing options...
leh-nerd skin-erd Posted August 30, 2022 Share Posted August 30, 2022 7 hours ago, Buffarukus said: decent questions, Harvard and Yale most likely dont have people making below 125k...at least i hope not, or come from families who are well off. the endowment is a really good question. these colleges that make tens of millions off their sport teams alone and some how are not spreading that to the student body in any way. pure profit. its a complete scam, a buisness that has tons of revenue and make kids buy PAPER at the print shops, make kids update books with the SAME info just so they cant but last years book used. some books are 250 dollars! ect ect ect. hopefully this brings the importance of addressing this crap to the forefront. This site references the US Department of Education and suggests the average Yale graduate will qualify under the Biden plan. Interestingly, the same site suggests the median student loan debt is $13,500. In that regard, the data suggests that 84% of Yale graduates were actively paying their loan v the national average of 47%. https://www.collegesimply.com/colleges/connecticut/yale-university/salaries/ It’s an interesting conundrum that when applying for FASFA, household income is considered as a critical element yet family ability to repay post-grad not so much. Finally, it isn’t just Yale or Harvard, there are many high profile schools that cost a ton and have significant endowments not contributing to solve the problem. 7 hours ago, Buffarukus said: ive never done it but cant all these loans be forgiven through bankruptcy? mostly all of them purchased assets that can be resold to recoup some and that money can be used to purchase somthing more affordable. so most loans do have ways to get out from under or mitigate but student loans are very unique as their is no way to ever get out. bankruptcy does not apply. The easy bankruptcy out is another problem in the country. 7 hours ago, Buffarukus said: true but just with obama care i see Rs being very angry but if they get power do they have a plan to address this? i doubt it. they will fight to stop the payments and then ignore any addressing of the issue and let it conflate more until the dems, once again, look to pay people off. One of the major reasons Trump won the election was the recognition that establishment Republicans were not all that different that establishment Democrats. Lots of words, lots of talk, same old men in power. If I hear Lindsey Graham suggest one more time to “Stay tuned” I’ll vomit. Stepping back a bit, it’s common knowledge that corporations and unions have a tremendous amount of power in our system. We’ve all heard it. Pharma. Oil. Finance. Health Insurance. Somehow, though, education is talked about, raged about, emotions raw….and nothing changed. While I don’t necessarily ascribe to @Chef Jim approach to “Ah, f*** it”, he’s not wrong on the shell game aspect of it all. Some people win, some people lose. 1 Link to comment Share on other sites More sharing options...
SoCal Deek Posted August 30, 2022 Share Posted August 30, 2022 11 hours ago, Chef Jim said: I paid off my loan. I’m not pissed. Rules and laws change all the time. So what. Some people will now have $100 or more a month to spend. Big deal. Good for them. It’s those that come after. “What about us?!?!” Just wait. You’ll get yours in 2024. I just laugh at those that gobble this up as some great thing. Chef, nobody’s arguing against this on the fiscal policy you seem to be focused on. The argument is on the fairness policy. Does this money matter to the government? No. Does it matter to the individual taxpayer? Yes. Link to comment Share on other sites More sharing options...
Tiberius Posted August 30, 2022 Share Posted August 30, 2022 2 minutes ago, SoCal Deek said: Chef, nobody’s arguing against this on the fiscal policy you seem to be focused on. The argument is on the fairness policy. Does this money matter to the government? No. Does it matter to the individual taxpayer? Yes. I pay taxes, A LOT of taxes, yet I don't see how this impacts me. Won't those given forgiveness spend more money, generate economic growth and help everyone? Yes! Link to comment Share on other sites More sharing options...
SoCal Deek Posted August 30, 2022 Share Posted August 30, 2022 15 minutes ago, Tiberius said: I pay taxes, A LOT of taxes, yet I don't see how this impacts me. Won't those given forgiveness spend more money, generate economic growth and help everyone? Yes! Nope I pay my taxes also… a ton of them. But would I rather the government send me the $10,000 that they’re selectively choosing to give as a Christmas present to the parents that told their kids to go get a loan? Yes, I’d rather have the money back. Link to comment Share on other sites More sharing options...
T master Posted August 30, 2022 Share Posted August 30, 2022 On 12/10/2020 at 6:32 PM, shoshin said: What a terrible idea. Don’t want to pay it back? Don’t take out the loan. https://www.nytimes.com/2020/12/10/us/politics/biden-student-loans.html?action=click&module=Top Stories&pgtype=Homepage I here there are a bunch of Dems jumping on the band wagon that this is a terrible idea which go figure why they wouldn't know that prior to the vote it's just common sense not to mention how many of those folks the sacrificed to pay off their debt will change their vote because of this . But you got to give it to them they are trying to buy more votes but i think it will back fire . Link to comment Share on other sites More sharing options...
B-Man Posted August 30, 2022 Share Posted August 30, 2022 "A majority of the dollars of student loan debt are owed by a small fraction of borrowers who, on average, have high incomes." "They often borrowed to go to professional schools for degrees in law, medicine and business. They don’t have much trouble handling their payments, and their default rates are low. By contrast, a majority of people holding student debt have moderate incomes and low balances. Many have no degree, having dropped out of a public college or for-profit vocational school after a few semesters. They carry little debt, but they also do not get the benefit of a college degree to help them pay off that debt. Defaults and financial distress are concentrated among the millions of students who drop out without a degree.... A full 30 percent of first-generation freshmen drop out of four-year colleges within three years.... Delinquency and default leave a longstanding blot on credit records, keeping borrowers from buying homes and cars, renting apartments and getting jobs. By allowing borrowers to once again get access to credit, housing and job markets, forgiving loans can therefore have a real effect on lives and the economy.... I once thought forgiveness to be an expensive Band-Aid, a distraction from fundamental reform. But I have seen so little progress on these issues that I now think we must make amends to those we have harmed...." From "Why I Changed My Mind on Student Debt Forgiveness" by Harvard econprof Susan Dynarski.(NYT). https://www.nytimes.com/2022/08/30/opinion/student-loan-debt-relief-biden.html?smid=url-share 1 Link to comment Share on other sites More sharing options...
Tiberius Posted August 30, 2022 Share Posted August 30, 2022 2 hours ago, SoCal Deek said: Nope I pay my taxes also… a ton of them. But would I rather the government send me the $10,000 that they’re selectively choosing to give as a Christmas present to the parents that told their kids to go get a loan? Yes, I’d rather have the money back. So you are jealous? great Link to comment Share on other sites More sharing options...
B-Man Posted August 30, 2022 Share Posted August 30, 2022 1 1 Link to comment Share on other sites More sharing options...
Chef Jim Posted August 30, 2022 Share Posted August 30, 2022 4 hours ago, SoCal Deek said: Chef, nobody’s arguing against this on the fiscal policy you seem to be focused on. The argument is on the fairness policy. Does this money matter to the government? No. Does it matter to the individual taxpayer? Yes. I'm not focusing on the fiscal policy at all. I'm focusing on the whining vs the winning. For the whiners. How does this matter to you? What direct affect does this have on your taxes? As for those calling it a win? It ain't. It's all stupid optics. 1 Link to comment Share on other sites More sharing options...
Chef Jim Posted August 30, 2022 Share Posted August 30, 2022 4 hours ago, Tiberius said: I pay taxes, A LOT of taxes, yet I don't see how this impacts me. Won't those given forgiveness spend more money, generate economic growth and help everyone? Yes! I agree with your fist part. Your second part is your usual asinine self. Giving away money is a short term boost to the economy and a long term disaster. You know that thing called inflation? You may have heard of it. How about this. We figure a way to make college more affordable. That's the long term fix and what should be demanded not the forgiveness of debt. But go ahead. You cheer this on as if it was going to do something. 1 Link to comment Share on other sites More sharing options...
SectionC3 Posted August 30, 2022 Share Posted August 30, 2022 15 minutes ago, Chef Jim said: I agree with your fist part. Your second part is your usual asinine self. Giving away money is a short term boost to the economy and a long term disaster. You know that thing called inflation? You may have heard of it. How about this. We figure a way to make college more affordable. That's the long term fix and what should be demanded not the forgiveness of debt. But go ahead. You cheer this on as if it was going to do something. Sounds like socialism to me. Sick. Link to comment Share on other sites More sharing options...
Doc Posted August 30, 2022 Share Posted August 30, 2022 2 hours ago, SectionC3 said: Sounds like socialism to me. Sick. Hoax. Link to comment Share on other sites More sharing options...
reddogblitz Posted August 30, 2022 Share Posted August 30, 2022 7 hours ago, T master said: It you got to give it to them they are trying to buy more votes but i think it will back fire . I would agree if they didn't have abortion in their back pocket. Link to comment Share on other sites More sharing options...
T master Posted August 30, 2022 Share Posted August 30, 2022 19 hours ago, Chef Jim said: Seriously? You think the government has or cares about accounts receivable? 😂😂😂😂😂😂 That's the big bamboozle there are a few here that believe the gov't truly cares about all the people when in reality they don't give a rat's ass about any of us as long as they get what they want it's al good in DC & retirement ... 1 Link to comment Share on other sites More sharing options...
SoCal Deek Posted August 30, 2022 Share Posted August 30, 2022 4 hours ago, Chef Jim said: I'm not focusing on the fiscal policy at all. I'm focusing on the whining vs the winning. For the whiners. How does this matter to you? What direct affect does this have on your taxes? As for those calling it a win? It ain't. It's all stupid optics. What? Oh come on! That could literally be your response to anything then. I have no idea where you’re coming from on this topic. Forgiving these loans is one the worst ideas I’ve heard in a long time…and there have been some really really bad suggestions from our friends in Washington over the years. Link to comment Share on other sites More sharing options...
Over 29 years of fanhood Posted August 30, 2022 Share Posted August 30, 2022 54 minutes ago, SoCal Deek said: What? Oh come on! That could literally be your response to anything then. I have no idea where you’re coming from on this topic. Forgiving these loans is one the worst ideas I’ve heard in a long time…and there have been some really really bad suggestions from our friends in Washington over the years. i know every time politicians give away a bunch of money, Unless it’s a reduction in taxation (and since I live well beneath my means, repaid my loans, work a lot, support a family & household, have made good choices and grown income and wealth) what ever they are doing will cost me more in the short term, the long term or both, because they have to sustain redistribution to their nonproductive sheep on the backs of the productive. and to the financially illiterate debt is money… 😂 And removing a half a trillion dollars of future inflows are going to be attempted to be backfilled somehow. Link to comment Share on other sites More sharing options...
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