Student Debt

[Doomsday Dallas]

primetime used to be a good poster? wtf

I'm pretty sure he just doesn't like Trump.

He's not a true Hillary supporter.

[Cleverness]

My wife just finished her masters...she holds $60k in student debt...makes $900 a month payments.

THAT SAID, we both foresee her making six figures 4-5 years down the road. So it was well worth it.


The problem is that $900 a month holds her down from doing anything. If she wasn't living with me, she would be forced to live at home with her parents.

Hillary's plan will reduce her payments to $150 a month. Giving her the ability to breathe. And her story matches the story of millions out there. Held down by student debt, can't do anything. And freeing that up for everyone will most certainly be a huge jump to the economy.

How does her plan drastically change your loan payments? Is your wife not eligible for PAYE or even IBR?

[sammichoffate]

I don't understand why taxing hire-income individuals is a bad thing necessarily, wouldn't you want the lower and middle classes to have more disposable income to buy your products and services if you're rich? Ik that's grossly oversimplifying things, but is it because of ROI from lost tax revenue or from greed? Doesn't the economy grow when demand for products is higher(more transactions from consumers due to higher levels of income ala marketable skills/degree) and everyone is better off?

[BigNBAfan]

I don't understand why taxing hire-income individuals is a bad thing necessarily, wouldn't you want the lower and middle classes to have more disposable income to buy your products and services if you're rich? Ik that's grossly oversimplifying things, but is it because of ROI from lost tax revenue or from greed? Doesn't the economy grow when demand for products is higher(more transactions from consumers due to higher levels of income ala marketable skills/degree) and everyone is better off?

Because the high income people (1%-ers) are never taxed more. They have portfolios with incredibly high losses to credit for taxes. My parents own a agricultural grove just to avoid taxes because each tree can be credited towards depreciation. What this results in is essentially is 0 tax.... just credit and in fact a large estate without property tax.

That is why a lot of wealthy folks own ranches....

The increase in tax essentially just targets the dying middle class.

[Cleverness]

I don't understand why taxing hire-income individuals is a bad thing necessarily, wouldn't you want the lower and middle classes to have more disposable income to buy your products and services if you're rich? Ik that's grossly oversimplifying things, but is it because of ROI from lost tax revenue or from greed? Doesn't the economy grow when demand for products is higher(more transactions from consumers due to higher levels of income ala marketable skills/degree) and everyone is better off?

I'm assuming you meant higher-income individuals. So what defines higher-income? 100k/yr? 250k/yr? 1m/yr? 100m/yr?

Why do we care more about taxing others and not our own taxes? With your proposal, wouldn't it make more sense to lower income taxes for the middle class so they have more disposable income to buy products?

[sammichoffate]

I'm assuming you meant higher-income individuals. So what defines higher-income? 100k/yr? 250k/yr? 1m/yr? 100m/yr?

Why do we care more about taxing others and not our own taxes? With your proposal, wouldn't it make more sense to lower income taxes for the middle class so they have more disposable income to buy products?

That's a question that will never have a concrete answer unfortunately, i've seen all kinds of proposals like tax brackets deductions, reformed progressive, getting rid of certain taxes, implementing intellectual property taxes, etc. I would say 1m/yr but ppl will disagree with me.

That would also be a viable idea if it ever got through Congress/State legislatures. Question is, how much would be a good amount?

[Doomsday Dallas]

bump

[Manny98]

Yh since I am doing 5 years at university my student debt is going to be 100k

Luckily it works different hear in the UK where you don't have to pay anything unless you are earning above a certain threshold

[FultzNationRISE]

I don't understand why taxing hire-income individuals is a bad thing necessarily, wouldn't you want the lower and middle classes to have more disposable income to buy your products and services if you're rich? Ik that's grossly oversimplifying things, but is it because of ROI from lost tax revenue or from greed? Doesn't the economy grow when demand for products is higher(more transactions from consumers due to higher levels of income ala marketable skills/degree) and everyone is better off?

In the end it doesnt really matter.

Wealthy people control the politics regardless. Taxing the rich and having politicians distribute the money is a circular endeavor. At the end of the day each person is gonna get what theyre able to fight for and earn no matter if it’s capitalism, communism, or otherwise. If you dont have some combination of talent, work ethic, and balls... you’ll always be screwed.

[Cleverness]

Yh since I am doing 5 years at university my student debt is going to be 100k

Luckily it works different hear in the UK where you don't have to pay anything as long as you stay poor

It works that way here in the US too, as long as you have the right loans eligible for PAYE/IBR. Theoretically, you can borrow $200k and pay nothing forever.

[Nanners]

I would bet the farm that this student debt reduction never actually comes to pass. Bidens admin published a press release claiming that they would like to forgive 10-20k in loans, but there has been nothing submitted in terms of legislation or executive orders that would actually make this happen.

A couple years ago Nancy Pelosi said it was impossible for the president to forgive any student loans without congress, and I dont think that has changed - maybe an executive order can get it done and skirt past the inevitable court cases, but my guess is doing this will take a vote in congress, and currently there is no way that this vote would pass the senate.

[diamenz]

I would bet the farm that this student debt reduction never actually comes to pass. Bidens admin published a press release claiming that they would like to forgive 10-20k in loans, but there has been nothing submitted in terms of legislation or executive orders that would actually make this happen.

A couple years ago Nancy Pelosi said it was impossible for the president to forgive any student loans without congress, and I dont think that has changed - maybe an executive order can get it done and skirt past the inevitable court cases, but my guess is doing this will take a vote in congress, and currently there is no way that this vote would pass the senate.

iirc it is in fact being done through exec order. whether it gets through without the courts though like u said is a different story.

[Nanners]

iirc it is in fact being done through exec order. whether it gets through without the courts though like u said is a different story.

Well I am eagerly waiting to see this executive order... I stand to personally benefit from this and I def hope this goes through. In addition to the fun of having most of my remaining debt wiped out, it would be a lot of fun to thank RufusPaul and Highwhey for subsidizing my education, especially the parts where I learned about how big pharma are soulless liars and climate change is fake and gay.

[BigKobeFan]

Well I am eagerly waiting to see this executive order... I stand to personally benefit from this and I def hope this goes through. In addition to the fun of having most of my remaining debt wiped out, it would be a lot of fun to thank RufusPaul and Highwhey for subsidizing my education, especially the parts where I learned about how big pharma are soulless liars and climate change is fake and gay.

he said it to drum up demon support and then nothing happens again. Remember the ice cube platinum plan?

[Nanners]

he said it to drum up demon support and then nothing happens again. Remember the ice cube platinum plan?

Bingo... this debt relief idea is nothing more than a carrot that will be dangled over voters heads in 2 years from now, and then regardless of who wins in 2024 the debt relief will never happen.