We get to pay for student loans. Great.

[Missouri_Mike]

Biden to Announce That Taxpayers Will Foot the Bill for a Chunk of Student Loans

redstate.com

So if you’re making 125 grand a year, those making half that will pay for your college loans. Fucking awesome.

 

[multivita-man]

I am generally not a fan of this. I don't necessarily agree with the premise that we're eating the bill for it, as those loans were already disbursed. But I kind of agree with Larry Summers in that this could lead to inflationary pressure going back in the wrong direction. Beyond that, I think it's just opening up a major can of worms. Like who decides that someone earning $100-125K (which is still a decent income by the way) should get loan exemptions, but someone earning $130K or 150K should not? Just not a good idea.

 

[Dekster]

Biden to Announce That Taxpayers Will Foot the Bill for a Chunk of Student Loans

redstate.com

So if you’re making 125 grand a year, those making half that will pay for your college loans. Fucking awesome.

$10K will help those who borrowed their frat dues and beer money, or who dropped out their freshman year. If it makes you feel better, it will piss the left off even more than the right that $10K is all he is doling out. For the people in the worst shape, that won't even change their payments. It will be like a year's interest for those who pay less than interest only payments on an IDR plan. Unless he is piggy backing this onto an announcement of something bigger and newer like retroactively decapitalizing interest that put some borrowers deeply underwater (especially grad students), Biden is costing the DNC support in November.

 

[Missouri_Mike]

I am generally not a fan of this. I don't necessarily agree with the premise that we're eating the bill for it, as those loans were already disbursed. But I kind of agree with Larry Summers in that this could lead to inflationary pressure going back in the wrong direction. Beyond that, I think it's just opening up a major can of worms. Like who decides that someone earning $100-125K (which is still a decent income by the way) should get loan exemptions, but someone earning $130K or 150K should not? Just not a good idea.

Wait, you’re worried people making more than 125k a year may be upset? Really! How about the people that make 60k and never got a college loan? Think they might be a bit pissed off?

 

[ColonelAngus]

Loan money for kids to go to a university.
Indoctrinate those kids into communism.
Forgive the loan debt.

This is the cult agenda.

 

[Missouri_Mike]

$10K will help those who borrowed their frat dues and beer money, or who dropped out their freshman year. If it makes you feel better, it will piss the left off even more than the right that $10K is all he is doling out. For the people in the worst shape, that won't even change their payments. It will be like a year's interest for those who pay less than interest only payments on an IDR plan. Unless he is piggy backing this onto an announcement of something bigger and newer like retroactively decapitalizing interest that put some borrowers deeply underwater (especially grad students), Biden is costing the DNC support in November.

Oh ok. I’m supposed to feel bad because it’s not enough money being thrown on the backs of people who never took out the loans or paid theirs off. What I really enjoy doing is paying taxes so these poor college kids can skip out on paying their frat dues and beer tabs.

I don’t think you’re helping here.

 

[Missouri_Mike]

Loan money for kids to go to a university.
Indoctrinate those kids into communism.
Forgive the loan debt.

This is the cult agenda.

It is. You are owed, other people will pay your way, especially those that are below you. Don’t worry about paying your loans out of your 125k a year. Those irredeemables will cover it.

 

[Dekster]

Oh ok. I’m supposed to feel bad because it’s not enough money being thrown on the backs of people who never took out the loans or paid theirs off. What I really enjoy doing is paying taxes so these poor college kids can skip out on paying their frat dues and beer tabs.

I don’t think you’re helping here.

You aren't paying back a single penny. Does that make you feel better? The money was already borrowed via prior bonds and already spent via prior tuition payments so it costs you nothing more.

If not then you should be happy to know your income taxes are based on what you make, not what the government spends, so you will be paying exactly the same amount of money (assuming you even pay income taxes) whether he does this or not.

 

[1srelluc]

Blow it out your ass Tater.

 

[multivita-man]

Wait, you’re worried people making more than 125k a year may be upset? Really! How about the people that make 60k and never got a college loan? Think they might be a bit pissed off?

I mean, sure they can be pissed off, too, I reckon. I'm just thinking more in terms of a specific group of people who made a specific type of purchase. If Biden really wanted to pursue this he'd be better off having a program that factored in total debt to income ratio. It's not even likely that he has the power to act unilaterally on this - Congress would not to revise the law.

 

[Missouri_Mike]

You aren't paying back a single penny. Does that make you feel better? The money was already borrowed via prior bonds and already spent via prior tuition payments so it costs you nothing more.

If not then you should be happy to know your income taxes are based on what you make, not what the government spends, so you will be paying exactly the same amount of money (assuming you even pay income taxes) whether he does this or not.

You failed math class didn’t you.

 

[Missouri_Mike]

I mean, sure they can be pissed off, too, I reckon. I'm just thinking more in terms of a specific group of people who made a specific type of purchase. If Biden really wanted to pursue this he'd be better off having a program that factored in total debt to income ratio. It's not even likely that he has the power to act unilaterally on this - Congress would not to revise the law.

It’s nice you’re so concerned about those that took out loans and how fair it is for them. Why the fuck aren’t you concerned about making the people who didn’t take out a loan at all, or who paid theirs off?

 

[Dekster]

You failed math class didn’t you.

Got a 4 on my AP calculus exam.....you know, the class you walked past on your way to autobody....

 

[whitehall]

Why doesn't Brandon pay off my car loan?

 

[Missouri_Mike]

Got a 4 on my AP calculus exam.....you know, the class you walked past on your way to autobody....

Fantastic. So it should be very easy for you to to show how the government who runs on nothing but tax dollars and loans was able to pay for college yet if they don’t demand payment back somehow that money they spent just disappears. Slides right off the books, never existed, doesn’t have to be paid back, it was just never actually real,

 

[Missouri_Mike]

Got a 4 on my AP calculus exam.....you know, the class you walked past on your way to autobody....

Hold up. A four? Out of 100? That explains your failure here.

 

[Orangecat]

Will people be able to take out a $10,000 school loan in 2023 and not have to pay it back? 2024? The future?

 

[Dekster]

Hold up. A four? Out of 100? That explains your failure here.

That you don't know that 5 is the top score explains your failure on a lot of things

 

[Dekster]

Fantastic. So it should be very easy for you to to show how the government who runs on nothing but tax dollars and loans was able to pay for college yet if they don’t demand payment back somehow that money they spent just disappears. Slides right off the books, never existed, doesn’t have to be paid back, it was just never actually real,

The government never pays its debts. It pays interest only and then refinances it in perpetuity. Welcome to Fiat Currency 101.

 

[TroglocratsRdumb]

In Left Wing economics the middle class are the slaves.
The corrupt Democrat Party treats the taxpayers like they are their slaves.
Eventually there will be nothing left to steal.
Socialist always destroy countries.