Greed. Get ready because they’re coming for free public k-12 next.
Maybe stop paying the coaches so much?
I agree, but that ain’t gonna fix $1.7 trillion in student loan debt.
Eat the rich.
Americans with income over $74,000 hold about 60% of the total public student loan debt
The holders of college debt are, relatively speaking, the rich in this scenario, lol. They’re sure a lot richer than all the taxpayers who never went to college, who will be the primary ones footing the bill for any college debt forgiveness that occurs.
$74K while they’re paying off student loans isn’t anything close to rich. Why are taxpayers who didn’t go to college footing the bill, is someone failing to make corporations and billionaires pay their fair share?
$74K while they’re paying off student loans isn’t anything close to rich.
It is compared to those not in college, and even moreso as time goes on–college grads make a million more over their lives than others.
Why are taxpayers who didn’t go to college footing the bill, is someone failing to make corporations and billionaires pay their fair share?
There’s no provision preventing the ~85% of the population who never went to college from having to pay, is there? No one’s handing only the even richer minority a bill for it.
Just like how income tax was first proposed as something only the rich would pay, but in reality the middle class pays the majority of it, this is no different.
This is such an idiotic take. It’s clear that you just want to rile people up with fear-driven rhetoric. “They’re stealing from you!” That kind of thing works with your you and your pals but not on people who understand the division in the class war waged against us doesn’t start at $74k while under a mountain of debt.
I have to pay taxes which go to government services I don’t always use. Welcome to society. That’s how it works.
By the way, could you link me to where you were screeching and whining about PPP loan forgiveness? I have a theory to test.
This is such an idiotic take.
It’s not a “take”, it’s a fact.
If you seriously think that NONE of the taxpayer money being used to forgive student loans is coming from the 85% of the non-college taxpaying population, and ALL of it is being paid for by the ultra-wealthy/billionaires, you’re just delusional.
I have to pay taxes which go to government services I don’t always use. Welcome to society. That’s how it works.
So first it’s adamantly denying that the non-college majority will be paying forgiven college students’ loans, and now it’s “actually, it’s good that they do”, lol.
Student loan forgiveness is regressive, period. It’s a wealth transfer from poorer to richer.
By the way, could you link me to where you were screeching and whining
Really pathetic attempt to devalue my factual statements. Ideologue tactics 101.
about PPP loan forgiveness?
All voluntary loans should be paid back by the borrower, and no taxpayer-funded forgiveness should exist. If anything, perhaps bring the loan to 0% interest, though that’s arguably still unfair to the lender.
I bet you really thought that was a gotcha, huh? I’m not one of your stupid stereotype boogeymen, stop pretending you know me.
We do know you. You are a clown pretending that student loan forgiveness is transferring wealth from the poor to the wealthy. You want to ensure education remains unavailable for poor people so the only opportunities they have are trades.
You want to pretend that paying taxes into the government means they’re funding these directly. Delusional. You cannot even read.
I wish they still taught basic civics in schools. Then people wouldn’t have to explain the basics to you.
No, I don’t want you pretending you’re against PPP forgiveness now, I want to see where you are grumpy enough about it at the time to complain about it. It’s easy for fellows like you to be consistent for a few hours at a time.
pretending that student loan forgiveness is transferring wealth from the poor to the wealthy.
Just because it’s not the poorEST to the wealthiEST doesn’t mean it’s not regressive.
It is–the recipients of the monetary handout are receiving it primarily from those who are poorer than them on average. The majority of people whose tax money will be paying this forgiveness, already have less wealth than those getting it.
These are objective facts.
Excluding the value of education from a calculation of net worth while including debt used to finance that education is like measuring a homeowner’s wealth by subtracting their mortgage but ignoring the value of the home itself. You’d find that homeowners were poorer than renters, and that people living in mansions were the poorest members of society.
That’s clearly wrong, yet advocates for debt forgiveness make the same mistake, arguing that recent college graduates with student debt have negative wealth and are thus worse off than otherwise similar Americans who have not gone to college. Consider that the median doctor graduating from medical school in 2017 or 2018 owed $171,000 in student debt, according to the College Scorecard, the median MBA owed $46,000, the median borrower with a BA in business $25,000, and the median AA degree holder in business $18,000. The implied conclusion is that doctors are the worst-off individuals, those with the two-year AA degrees are doing far better, and richest of all are those who never went to college.
You want to pretend that paying taxes into the government means they’re funding these directly.
The government does not spend its tax revenue depending on which class of people paid those particular dollars of tax. There is zero reason to think the distribution will be any different than anything else.
If the top 1% pays 45%, the middle class pays 40%, and the lower class 15% (random numbers, not themselves relevant to the point), then every single thing the government pays for, with tax money, is 45% funded by the 1%, 40% funded by the middle class, and 15% funded by the lower class.
Unless some provision is added that there will be a tax hike ONLY on those with more wealth than the recipients of the handout, that is the case.
And people who pay taxes and never went to college should absolutely NOT be on the hook for a penny of richER people’s loans.
No, I don’t want you pretending you’re against PPP forgiveness now
This is getting sad now. Constantly saying I’m “pretending” to have certain values like you know fucking anything, lmao. It must be a simple life indeed to never have to take on the mental burden of assessing people as individuals instead of members of your pre-built stereotype-driven collectives.
Ronald Reagan. That’s how this happened.
Not that simple. This got started before he took office, and it culminated long after he was out of office. Way more than one person is to blame.
https://www.tateesq.com/learn/student-loan-bankruptcy-law-history
Student loans first became nondischargeable in bankruptcy in 1976 due to an amendment in the Higher Education Act. Section 439A of this act made student loan debt non-dischargeable until five years after the start of the repayment period, except in cases of undue hardship. Over time, laws were tweaked and widened to reinforce this limitation.
How Did This Happen?
College loans are not dischargeable in bankruptcy. Simple as that.
With lenders knowing that the government will make sure they get paid, they’re happy to loan out any amount of money to anyone regardless of credit worthiness, because they take on literally zero risk.
Then colleges realize the same, and jack up their prices in turn. The feedback loop brings us to where we are today. There is no market (or other) force putting any downward pressure on tuition costs, at all. This is the inevitable result.
College loans are not dischargeable in bankruptcy. Simple as that.
Yes Biden is basically running on the idea of solving a lot of the problems he created. He spent most of his life in government. Those of us who are informed came to terms with that in 2020
Not so much “came to terms” with it as much as “this dumb motherfucker is the only way we escape Trump. I hate him and his policies but I’ll vote for him I fucking guess.” Just like where we are now, but now many are even more pissed because it was already supposed to be just one term of a lesser evil before we’d have new options. Now goal posts are being moved and we all have to do it AGAIN for an asshole like Joe Biden who does not deserve it.
Why can’t these old fuckers just die already?
