Student Loan “forgiveness”

[Baker Boy 1,699]

1 hour ago, Shooter McGavin said:

Wrong.  I didn't get covid money, income was too high.

This is another govt program to help poor people, just like covid money helped you

CBS News report: Biden student loan handout would benefit wealthy, raises question of ‘fairness’
 

The benefit of erasing billions in college loans would mostly go toward Americans higher up the income ladder, the analysis also found. More than two-thirds of the debt forgiveness would help people in the top 60% of the income distribution — or those who earn $82,400 or more per year," Picchi wrote. 
 

https://www.msn.com/en-us/money/markets/cbs-news-report-biden-student-loan-handout-would-benefit-wealthy-raises-question-of-e2-80-98fairness-e2-80-99/ar-AA1132KE

[nobody 2,673]

10 minutes ago, Hardcore troubadour said:

No, it is known this applies to a certain income level. Know what you’re taking about before piping in to brag. Wait, you did know that, but wanted to let us all know what a success you are. Or you didn’t know? Which one is it? 

So your argument is "not everyone gets this relief therefore it's wrong unlike covid money which also not everyone got."

Fine, have a retarded take.

[KSB2424 3,148]

Doesn’t even look at the root cause.  Dumb.

[Hardcore troubadour 15,439]

Just now, nobody said:

So your argument is "not everyone gets this relief therefore it's wrong unlike covid money which also not everyone got."

Fine, have a retarded take.

You didn’t know about the income level for this?

[Gepetto 1,368]

58 minutes ago, peenie said:

Wait, how was Cartman able to afford to pay off everyone’s debt? Why was Obama credited at the end? 

That's Kyle, not Cartman. In the end, it was Kyle’s use of an AmEx card with no spending limit (“Faith is what makes an economy exist”) to forgive everyone’s debt that saved the day. The episode was the most back-handed endorsement imaginable of President Obama’s economic bailout plan. Or the most withering dismantling of it. As usual, South Park had it both ways. https://ew.com/article/2009/03/26/south-park-come/

The news incorrectly acknowledges President Barack Obama for the sacrifices he made and credits him for bringing these improvements in the economy, leaving Kyle flabbergasted. https://en.wikipedia.org/wiki/Margaritaville_(South_Park) 

[nobody 2,673]

Just now, Hardcore troubadour said:

You didn’t know about the income level for this?

Do you understand how a conversation works?

You: A therefore B

Me: A isn't true

You: I know A isn't true.  Did you also know A isn't true because of X?

What the fūck is going on here?  Are you just trying to change the subject because you realize your argument doesn't make sense?  Just make up a new argument why this sucks.  There are plenty of them out there.  I'm on your team here.  I just don't want our team making dumb arguments.

[Hardcore troubadour 15,439]

1 minute ago, nobody said:

Do you understand how a conversation works?

You: A therefore B

Me: A isn't true

You: I know A isn't true.  Did you also know A isn't true because of X?

What the fūck is going on here?  Are you just trying to change the subject because you realize your argument doesn't make sense?  Just make up a new argument why this sucks.  There are plenty of them out there.  I'm on your team here.  I just don't want our team making dumb arguments.

No, if you knew about the income level it would be apparent what I was talking about. No need for specifics. It is known. So, did you know? Simple question. That you won’t answer for some reason.  

[5-Points 3,535]

There's no such thing as "student loan forgiveness." The loan isn't being forgiven, it's being transferred. This is student loan transference. 

And its a focking buIIshit attempt to buy votes 80 days out from an election. 

[nobody 2,673]

6 minutes ago, Hardcore troubadour said:

No, if you knew about the income level it would be apparent what I was talking about. No need for specifics. It is known. So, did you know? Simple question. That you won’t answer for some reason.  

Huh?  My statement is that your argument that "loan relief is wrong because not everyone got it, but covid relief is cool because also not everyone got it" is dumb.

We both agree that covid money wasn't given to everyone that's the crux of why your argument is dumb.  Why does it matter the reason why not everyone got covid money or if I'm aware of it?

I think I get where you're going.  You want to say I'm bragging if I knew or I'm dumb if I didn't know.  I don't care.  Just pick one and take your awesome gotcha moment.  Does either matter to this discussion?  Your original argument is still dumb. 

[listen2me 23 1,873]

Not many centrists in here.  Shooter an alias.  Rusty did pop in to say this is dumb before he headed back to his TDS bus.  

Liberal ideas and policies are always stupid.  Even their voters know that.  Bizarre really.  

[Hawkeye21 2,399]

1 minute ago, listen2me 23 said:

Not many centrists in here.  Shooter an alias.  Rusty did pop in to say this is dumb before he headed back to his TDS bus.  

Liberal ideas and policies are always stupid.  Even their voters know that.  Bizarre really.  

Has anyone on the forum said they are for it yet?  I'm not sure I've seen much support of it.  Most of us are all older and have our student loans paid off so it makes sense for us not to be in favor of it.

[Hardcore troubadour 15,439]

26 minutes ago, nobody said:

Huh?  My statement is that your argument that "loan relief is wrong because not everyone got it, but covid relief is cool because also not everyone got it" is dumb.

We both agree that covid money wasn't given to everyone that's the crux of why your argument is dumb.  Why does it matter the reason why not everyone got covid money or if I'm aware of it?

I think I get where you're going.  You want to say I'm bragging if I knew or I'm dumb if I didn't know.  I don't care.  Just pick one and take your awesome gotcha moment.  Does either matter to this discussion?  Your original argument is still dumb. 

I’ll go with brag. You’re not dumb, like Hack and that boring guy from Iowa. Hawkins or something. 

[Baker Boy 1,699]

31 minutes ago, nobody said:

Huh?  My statement is that your argument that "loan relief is wrong because not everyone got it, but covid relief is cool because also not everyone got it" is dumb.

We both agree that covid money wasn't given to everyone that's the crux of why your argument is dumb.  Why does it matter the reason why not everyone got covid money or if I'm aware of it?

I think I get where you're going.  You want to say I'm bragging if I knew or I'm dumb if I didn't know.  I don't care.  Just pick one and take your awesome gotcha moment.  Does either matter to this discussion?  Your original argument is still dumb. 

Morethan two-thirds of the debt forgiveness would help people in the top 60% of the income distribution — or those who earn $82,400 or more per year," Picchi wrote. 

[easilyscan 926]

51 minutes ago, KSB2424 said:

Doesn’t even look at the root cause.  Dumb.

Thank You.

1: Identify root cause.

2: Take corrective action.

3: Follow up/monitor.

 

[easilyscan 926]

Compare this with the Social Security tax passed by Congress in 1983 & 1993 

1983: 
Individuals with combined income between 25 & 34K have to pay income tax on 50% of benefits.   
Couples with combined income between 32 & 44K, have to pay income tax on 50% of benefits. 

In 1993 they added this:
Individuals: More than 34K 85% of your benefits are taxable. 
Couples: More than 44K 85% of your benefits are taxable.

Translation: For a ‘single’ retiree in 2022, you're living large if your income is $34k a year, $44k for couples
But when it comes to working individuals with student loan debt, 125K is the poverty line, 250k for couples. 

*Current President Joe 'Flounder' Biden voted in favor of the SS tax both times*

[TBayXXXVII 2,546]

6 hours ago, MTSkiBum said:

 

The government probably does need to do more to reduce the cost of college, along with persuading people that they do not need to go to college.

We should try to push more people towards trade schools. There are too many people getting useless degrees.

I don't think the government needs to do any such thing to reduce the cost of colleges.  I think PEOPLE need to start realizing that the name on the Diploma doesn't mean as much as the school's public relations department thinks it means.  PEOPLE also need to stop pretending that "it means something more" to leave your state to go to college and pay all of those higher "out of state" costs.  PEOPLE also need to be more active in getting cheaper books and using free information.

[Gepetto 1,368]

I think colleges and universities need to be finding quality employment for their graduates and if they can't do that, then they need to be forced to forgive the loan.

[nobody 2,673]

21 minutes ago, Baker Boy said:

Morethan two-thirds of the debt forgiveness would help people in the top 60% of the income distribution — or those who earn $82,400 or more per year," Picchi wrote. 

That's weird.  I was just on Twitter and i saw at least three posts saying you're the devil if you don't like this because 90% of the funds are going to people making 75k per year or less.

[Chronic Fockster 106]

1 hour ago, Hardcore troubadour said:

Your daughter is poor? Not for long. Her daddy taught her how to scam. 

Did you reject your covid money or did you scam that?

[iam90sbaby 2,611]

If they do do this people that were responsible and paid their loans off should get some kind of reward. 

[Chronic Fockster 106]

41 minutes ago, Hawkeye21 said:

Has anyone on the forum said they are for it yet?  I'm not sure I've seen much support of it.  Most of us are all older and have our student loans paid off so it makes sense for us not to be in favor of it.

I think it's dumb, but it's another example in a long line of dumb govt handouts, of which people are good with as long as they get them.

[Hardcore troubadour 15,439]

4 minutes ago, Chronic Fockster said:

Did you reject your covid money or did you scam that?

He intentionally had her take out a loan she didn’t need banking on this. Piss off.  

[nobody 2,673]

It's like they expect the strongest members of society to be tasked with dragging everyone to shore before they drown except they keep letting the people they need to save decide to pick up anchors along the way.  Then they have the nerve to wave the anchor in your face while they look for another one to grab.

Then when we all drown, they won't want to hear it's their fault.

[MLCKAA 574]

1 hour ago, Hardcore troubadour said:

Everyone under 125k did. On this one it’s only college students. But congrats, your humble brag is noted 

There’s no comparison between the Covid payment and this.  The Covid payment came during a time of crisis.  Loan forgiveness is a bailout for people with regret.

Declining a Covid payment, if that was a thing, would have been foolish.  That was taxpayer money being returned to taxpayers, aside from a small percentage of people making over a certain income.  LF is a far more arbitrary and discriminatory action.  45 million out of 335 million people are being saved from a problem of their own making.

Another point that may have already been made is that there has to be a high percentage of the eligible who don’t actually need the help.  A single man in Louisville making $55k a year is eligible but that’s not a man in hardship!  Is he living LARGE like the Big Guy?  No, but he’s not in need of salvation from Lord Biden either.

The eligibility standards are a fcking joke.

[Sean Mooney 1,983]

I'm not really for this either. The problem with student loans is the interest that is charged on them which I believe is anywhere between 5 and 7 percent. For my unsubsidized loans I was paying 6.8% in interest. My mortgage interest is less than half of that. The interest is the problem with college and makes it a money sink for a long time.

10,000 though allows Biden to say he fulfilled his promise and also allows him to say he didn't allow the 50,000 like the more progressive people wanted.

The biggest thing they did under the current administration was fixing the PSLF stuff. Also, this newest move does create a new IDR payment plan which will help people. 

As to the person who said "Oh so you hate this but you'll still vote Democrat in November..." to someone. Well you see, there are multiple issues to vote on....Republicans have better answers on some things, Democrats on others.  

[nobody 2,673]

2 minutes ago, Sean Mooney said:

As to the person who said "Oh so you hate this but you'll still vote Democrat in November..." to someone. Well you see, there are multiple issues to vote on. 

The problem is libs are voting to drive the economy off a cliff over abortions and gay pride.

The economy should dwarf most issues for most people and it's obvious this motherfocker doesn't give two sh¡ts about Jimmy Cartering our asses.

[Sean Mooney 1,983]

1 minute ago, nobody said:

The problem is libs are voting to drive the economy off a cliff over abortions and gay pride.

The economy should dwarf most issues for most people and it's obvious this motherfocker doesn't give two sh¡ts about Jimmy Cartering our asses.

It is far too early to make any indications about what this will do. Already today I've read a piece saying this will increase inflation and another piece saying that it will improve the economy. It is basically whatever side you want to be right will be right. 

Also, the economy is not in dire shape right now. 

[Baker Boy 1,699]

12 minutes ago, Sean Mooney said:

It is far too early to make any indications about what this will do. Already today I've read a piece saying this will increase inflation and another piece saying that it will improve the economy. It is basically whatever side you want to be right will be right. 

Also, the economy is not in dire shape right now. 

Come on Mooney, this is Econ 101 get with program. How will this improve the economy, putting more money out there for fewer goods. There are 10.5 million open jobs out there and if a college graduate can’t find a job they shouldn’t be rewarded with a $10,000 check.

[Hardcore troubadour 15,439]

Mooney- “ I don’t agree with this but let me tell you good things about it”. Clown. 

[Sean Mooney 1,983]

20 minutes ago, Baker Boy said:

Come on Mooney, this is Econ 101 get with program. How will this improve the economy, putting more money out there for fewer goods. There are 10.5 million open jobs out there and if a college graduate can’t find a job they shouldn’t be rewarded with a $10,000 check.

Moody's Analytics says:

Quote

 

"The end of the moratorium will weigh on growth and inflation, while the debt forgiveness will support growth and inflation," Moody's Analytics chief economist Mark Zandi said. "The net of these cross-currents is largely a wash."

Moody's estimates that the combined impact will reduce real GDP in 2023 by 0.05 percentage points, drive down unemployment by 0.02 percentage points and cut inflation by 0.03 percentage points. In other words, a very tiny effect.

 

There is an argument that people having more money to buy things will drive production leading to more people needed for jobs. Don't know that I buy that anymore than I buy cut taxes for rich businesses so they hire more people- but it's a case that's been made. 

[Sean Mooney 1,983]

17 minutes ago, Hardcore troubadour said:

Mooney- “ I don’t agree with this but let me tell you good things about it”. Clown. 

What did I say good about it?

Please quote it. 

[nobody 2,673]

17 minutes ago, Sean Mooney said:

There is an argument that people having more money to buy things will drive production leading to more people needed for jobs. Don't know that I buy that anymore than I buy cut taxes for rich businesses so they hire more people- but it's a case that's been made. 

Putting money in the pocket of people too stupid to realize they can't pay back the loans they are taking out isn't a good idea.  They'll run out and waste it on BS driving up inflation.  They'll also leverage that money by taking out even more debt against it.  

This guy loves focking sh¡t up.  Anything to buy those votes.  And, of course we'll all have to act surprised when inflation jumps 2% in 3 months. The funny thing is the cats he's paying off for votes are clowns that were going to vote for him anyway if they can even take the time to vote.  God damn.  The dude just can't help himself.

[Hardcore troubadour 15,439]

Payback for the mostly peaceful riots in 2020. And all the ballot harvesting/ stuffing. 

[nobody 2,673]

The dude just lit 300 billion on fire for no reason, raised all of our taxes, and gave us all a pay cut due to the resulting inflation.  What a focking disaster this guy is.  I guess no mean tweets though. 

 

[Baker Boy 1,699]

https://www.foxnews.com/politics/colleges-universities-may-benefit-biden-student-loan-giveaway-spent-130-million-lobbying
 

Colleges, universities that may benefit from Biden student loan giveaway spent over $130 million on lobbying

[MLCKAA 574]

This thread has received more replies than all my 20+ years of threads combined.

[Sean Mooney 1,983]

14 minutes ago, Hardcore troubadour said:

Payback for the mostly peaceful riots in 2020. And all the ballot harvesting/ stuffing. 

So nothing to quote?

[Sean Mooney 1,983]

21 minutes ago, nobody said:

Putting money in the pocket of people too stupid to realize they can't pay back the loans they are taking out isn't a good idea.  They'll run out and waste it on BS driving up inflation.  They'll also leverage that money by taking out even more debt against it.  

This guy loves focking sh¡t up.  Anything to buy those votes.  And, of course we'll all have to act surprised when inflation jumps 2% in 3 months. The funny thing is the cats he's paying off for votes are clowns that were going to vote for him anyway if they can even take the time to vote.  God damn.  The dude just can't help himself.

I'm not sure how much of it is "too stupid to realize they can't pay back the loans" versus "Interest makes it harder, or longer, to pay off those loans"

Also, what leads you to the conclusion that they will run out and waste the money on BS driving up inflation? 

[nobody 2,673]

Just now, Sean Mooney said:

I'm not sure how much of it is "too stupid to realize they can't pay back the loans" versus "Interest makes it harder, or longer, to pay off those loans"

So they claimed the loans didn't have interest when they gave them out or something?

[nobody 2,673]

That's probably the difference between a dumb person and a smart person.

Dumb person:  You want to give me $100k?!@?!/!~  OMG, sign me up right now~#@!#!

Smart person: You want to give me $100k?  What's the catch?