After Paying Off My Own Tuition I Get To Pay Off More Than $2,000 of One Of Joe Biden's Staffer's College Debt

[there4eyeM]

If this debt is somehow unfair, it doesn't seem right to do something unfair to taxpayers to make up for it. The loan companies and/or learning institutions, perhaps, but not the dubiously Constitutional tax method.

 

[Lisa558]

Well first, they don't "have to pay for it". Your taxes are based on your income period. And second, the US doesn't pay off its bills. That debt just gets refinanced when the bonds come due. and third, if they write down $10K on a loan that was made 10 years ago, it almost literally costs people nothing more than than whatever they have to pay the servicers to make the changes as the money was loaned ten years ago and is already part of the debt we never pay. It is just a matter of the government not having that money to spend in the future. It isn't like the Department of Ed has to suddenly come up with $10K to pay the department of ed servicer $10K.

You are an example of why the Dems have no understanding of economics. It’s NOT “just” a matter of the government not having that money to spend in the future. We are already $30 trillion in debt and running at a deficit. That means that OTHER PEOPLE will have to pay for this, via their taxes, either now or in the future.

And to say that it’s just added to the debt we never pay is the attitude that will cause major problems. SOMEONE will have to pay. Eventually.

 

[Lisa558]

And yet you and any other republican would be absolutely alright with another tax cut gift to the "job creators".

Well, I got a tax cut too under Trump, and I’m a moderate retiree income.

And second, the tax cut to the “job creators” means higher wages to the lower-income and more jobs in general. That’s why the economy was doing so well under Trump until the Fauci/China virus was released.

 

[Lisa558]

And the attacks on the middle class continue in earnest. The USA as we knew it is dead, and bloated. Now we bear witness to the plethora of scavenger feeding off of what remains of this behemoths carcass.

It’s obvious that the Democratic Marxists are out to destroy the middle class. The bulk of Biden’s tax increase will be paid by small businesses with incomes under $200,000.

Increased inflation and higher taxes: Lenin’s way to destroy the middle class.

 

[occupied]

Well, I got a tax cut too under Trump, and I’m a moderate retiree income.

And second, the tax cut to the “job creators” means higher wages to the lower-income and more jobs in general. That’s why the economy was doing so well under Trump until the Fauci/China virus was released.

No one has ever shown a direct correlation between tax cuts and more jobs. It's a giveaway to rich donors and nothing else. Incidentally your tax cut expired a couple of years ago while the rich got to keep theirs. Bait and switch.

 

[SweetSue92]

In addition to the media reporting almost all of Joe Biden's staffers are eligible for his Student Loan Forgiveness, I just found out every tax-paying US citizen - even those like me who have already paid off their own college debt - gets to pay more than $2,000 each to help pay off someone else's - like one of Biden's staffers - student debt.

2 things....

1. Thanks, Joe.

2. Let's go, Brandon

Biden’s Student-Debt Cancellation Will Cost More than $2,000 Per Taxpayer | National Review

President Biden revealed details of an executive order that will cancel $10,000 of student-loan debt per borrower for individuals earning up to $125,000.

www.nationalreview.com

The Democrats are doing a great job of blowing everything up in their own faces since Joe Biden.

This is blowing up too.

 

[JoeB131]

In addition to the media reporting almost all of Joe Biden's staffers are eligible for his Student Loan Forgiveness, I just found out every tax-paying US citizen - even those like me who have already paid off their own college debt - gets to pay more than $2,000 each to help pay off someone else's - like one of Biden's staffers - student debt.

2 things....

1. Thanks, Joe.

2. Let's go, Brandon

I paid for my college by joining the military...

And I'm perfectly fine with this program. Saddling kids with tens of thousands in debt to the point where they put off buying homes and starting families is not good for the country as a whole.

 

[Dekster]

You are an example of why the Dems have no understanding of economics. It’s NOT “just” a matter of the government not having that money to spend in the future. We are already $30 trillion in debt and running at a deficit. That means that OTHER PEOPLE will have to pay for this, via their taxes, either now or in the future.

And to say that it’s just added to the debt we never pay is the attitude that will cause major problems. SOMEONE will have to pay. Eventually.

Nobody ever has to pay it and it has nothing to do with "economics". If a cop pulls you over for speeding, I can put a "cost" number to that for government for the gas used to pull you over, the labor cost of him spending 15 minutes with you, the price of the paperwork, etc, but in reality the cop was already going to be working and that car was already going to be burning gas so the only added cost for pulling you over is really the cost of replacing that paper ticket with a new one. That is why the announcement applied to direct loan borrowers only. Including other types of government backed loans would have required Congress to come up with funding to pay for it. Now instead it is just a matter of adjusting the accounting and paying whatever fee they will have to pay to the servicers to get them to update their database. The Department of Ed was already updating their own software anyway because of the numerous lawsuits against it by borrowers that are costing them actual new money that the Congress will actually have to come up with new money to pay out.

 

[JoeB131]

It annoys me that I worked five nights a week bartending then got up the next morning and staggered off to class because I didn't want to incur student debt but now I'm expected to pay the debt of people who DIDN'T want to work like I did! I can't imagine how pissed this must make people who can't get high paying jobs because they don't have college degrees but now they're going to be asked to pay for the debt of people who CAN get those jobs!

Wow, Dog Style, really?

Let's look at that.

I paid for my college by joining the National Guard and working two minimum wage jobs during college. So in theory, I should be upset that Biden is doing this, right?

Nope.

When I went to college in the 1980's (also known as the era of Big Hair.) You could attend UIC full time at for $1500 a year in fees and tuition. Which means you could work a minimum wage job back then only working 10 hours a week to pay tuition.

Today, Fees and Tuition at UIC is $17,000 a year. Even adjusting for inflation, it's a 400% increase. Meanwhile, minimum wage hasn't even kept up with inflation.

As for people who don't have high paying jobs, they aren't the ones paying for it, because as your side constantly points out, they don't pay that much in income tax.

This is GOOD for the country. This means these kids can get to buying homes and starting families earlier... a benefit for a country already in demographic decline.

 

[JoeB131]

When you do things to make life easier for YOUR base at the expense of other Americans then you don't really have the welfare of the country at heart! Biden is making poor people pay for rich people's college educations and he's doing that because those wealthy college educated professionals are his biggest supporters.

It's funny to watch the Right Wing suddenly pretend they care about poor people...

Almost as funny as watching them turn into a Hippy Drum Circle because the Pentagon wouldn't let Trump start a war with Iran.

 

[JoeB131]

You are an example of why the Dems have no understanding of economics. It’s NOT “just” a matter of the government not having that money to spend in the future. We are already $30 trillion in debt and running at a deficit. That means that OTHER PEOPLE will have to pay for this, via their taxes, either now or in the future.

And to say that it’s just added to the debt we never pay is the attitude that will cause major problems. SOMEONE will have to pay. Eventually.

Okay.

Stop subsidizing Israel... That's going to be a huge savings... since we are in debt and all.

I'd rather help a young American family than a bunch of Zionist Squatters stealing someone else's land and constantly dragging us into wars.

 

[Lisa558]

No one has ever shown a direct correlation between tax cuts and more jobs. It's a giveaway to rich donors and nothing else. Incidentally your tax cut expired a couple of years ago while the rich got to keep theirs. Bait and switch.

I don’t care about rich donors. I care about the financial hardships that Biden is putting on the middle class, myself included, with the double whammy of inflation and higher taxation. Your hatred of the rich will lead America right to the poorhouse, and destruction.

 

[Lisa558]

Nobody ever has to pay it and it has nothing to do with "economics". If a cop pulls you over for speeding, I can put a "cost" number to that for government for the gas used to pull you over, the labor cost of him spending 15 minutes with you, the price of the paperwork, etc, but in reality the cop was already going to be working and that car was already going to be burning gas so the only added cost for pulling you over is really the cost of replacing that paper ticket with a new one. That is why the announcement applied to direct loan borrowers only. Including other types of government backed loans would have required Congress to come up with funding to pay for it. Now instead it is just a matter of adjusting the accounting and paying whatever fee they will have to pay to the servicers to get them to update their database. The Department of Ed was already updating their own software anyway because of the numerous lawsuits against it by borrowers that is costing them actual new money that the Congress will actually have to come up with new money to pay out.

“Adjusting the accounting”? OMG. It is costing the American taxpayers an additional $300 billion, on top of the Green Deal the Dems just rammed through Congress, and SOMEONE will eventually have to pay for it.

 

[Frankeneinstein]

Cry me a river.
When I went off to university back in the Paleolithic there was no such thing as "student loans".
If you went to school you either had a rich family.....or you worked two or three jobs between or after classes.
The 'rich family' option was a no-go for me.
So I worked the work.

one of the most indelible.....and valuable......life-lessons

And it paid off. Which was the expectation.
I ain't pitching any bitch, cryin' in my beer, or grievance-ridden that things have changed in all those years.
Get on with life. And don't whine about.
That is one of the most indelible.....and valuable......life-lessons I got from my years at university.

So quit being a baby about it. Get on with your life.

well well well, fancy meeting you here chills, and spinning yarns about pulling yourself up by the bootstraps of all things.
How about no student loans for any education that cannot pay for itself?

That is one of the most indelible.....and valuable......life-lessons I got from my years at university.

so how does that work on the left chilly?
Ya borrow to go to college?
then ya get a job, and then ya pay it off in a year so you can quit your job?

.

 

[Penelope]

In addition to the media reporting almost all of Joe Biden's staffers are eligible for his Student Loan Forgiveness, I just found out every tax-paying US citizen - even those like me who have already paid off their own college debt - gets to pay more than $2,000 each to help pay off someone else's - like one of Biden's staffers - student debt.

2 things....

1. Thanks, Joe.

2. Let's go, Brandon

Biden’s Student-Debt Cancellation Will Cost More than $2,000 Per Taxpayer | National Review

President Biden revealed details of an executive order that will cancel $10,000 of student-loan debt per borrower for individuals earning up to $125,000.

www.nationalreview.com

Were the tramps tax cuts worried about the debt, NO.

 

[occupied]

I don’t care about rich donors. I care about the financial hardships that Biden is putting on the middle class, myself included, with the double whammy of inflation and higher taxation. Your hatred of the rich will lead America right to the poorhouse, and destruction.

You should care about rich donors. The people you vote for are still trying to make trickle down work. .

 

[Vastator]

I don’t care about rich donors. I care about the financial hardships that Biden is putting on the middle class, myself included, with the double whammy of inflation and higher taxation. Your hatred of the rich will lead America right to the poorhouse, and destruction.

At this point, the intent, and impending result of this administrations actions, are quite clear. While the is very little we can do about there actions of "upper management", we do still have some control down here in the trenches.

Divesting, and decoupling as much as possible from FedGov is really ones only option for weathering the storm. The more one is in bed with the machine, the more likely one is to get caught up in its gears. The best bet is to murder your tax burden. Do everything lawfully possible to pay as few taxes as possible. Take a very scrutinizing look at one's own personal economy; and use, or develop as many means as possible to control one's own import/export dynamic. This can take many forms but most rely on principles of self sufficiency. Anything you buy from the machine, or its minions; find another source. One of the easiest amongst the imports is food. One can grow much of their own, or pay cash at farmers markets. Same goes with certain building materials. Explore all alternative sources, and deny the beast every possible tax penny you can, at every opportunity that presents itself.

Stop feeding the beast, and it withers. Stop feeding it long enough, and it dies...

 

[Dekster]

“Adjusting the accounting”? OMG. It is costing the American taxpayers an additional $300 billion, on top of the Green Deal the Dems just rammed through Congress, and SOMEONE will eventually have to pay for it.

No, it will cost the government a couple billion at most and OMG $300B less in other people's money in the future to spend. The number of stories of people who have paid back more than they ever borrowed and are still in 6 digit debt to the Department of Education are legion and for many of them this $10K is nothing more than a year or so's less interest they will have to pay. Many of these loans will ultamately be discharged anyway once the borrower reaches their 20 or 25 year drop dead date on the debt and for those people the $10K won't even change their monthly payment because their required payment doesn't even cover a month's interest on the debt.

 

[Lisa558]

You should care about rich donors. The people you vote for are still trying to make trickle down work. .

I don’t spend my life resentful of rich people. I concentrate on my own financial success, and I was doing a lot better under Trump (until the Fauci China virus was released). Now I am gasping in shock at the grocery prices, like the rest of middle America, while Biden is raising taxes on us.

 

[Lisa558]

No, it will cost the government a couple billion at most and OMG $300B less in other people's money in the future to spend. The number of stories of people who have paid back more than they ever borrowed and are still in 6 digit debt to the Department of Education are legion and for many of them this $10K is nothing more than a year or so's less interest they will have to pay. Many of these loans will ultamately be discharged anyway once the borrower reaches their 20 or 25 year drop dead date on the debt and for those people the $10K won't even change their monthly payment because their required payment doesn't even cover a month's interest on the debt.

So why give people earning $100,000 a year another $400 a month or whatever to pump back into the economy? Inflation isn’t high enough?