For the same reason you and your kids are ultimately responsible for paying off Trump’s tax cuts for the Uber wealthy in 2017. Only difference is now it rewards someone who, IMO, DESERVES it as opposed to someone who should choke to death on a dildo.
Agree. And if financiers are still willing to back him, buyer beware. Likewise for those that sign contracts with him. Take your lumps when it hits the fan. His stripes have been well established.
Mine is certainly a claim based on certain assumptions and values. Here’s where my mind is: Grades in school are paramount. If you want to get into medical or graduate school, a 3.7 GPA versus a 3.1 can be a huge difference that can permanently change your career trajectory. Meanwhile, making an extra $200 dollars at Panera in a given week is nice but simply doesn’t carry the potential of finality that comes with a poor grade in a core course. My personal calculus has it that the short term monetary gain just isn’t worth the long term career risk. My wife and I are fortunate to be able to start saving for our little kids’ future college in advance. We don’t have a ton, but I think we’ll be able to take care of the lion’s share of their college costs without them having to work. I do think working is great experience, so I’ll be encouraging that before college or during summer, but I would prefer if it didn’t risk their college performance.
Yeah, imagine them wanting government to care about their financial issues. Not like those elderly people demanding social security or middle aged workers demanding income tax cuts. Who said they didn't intend to pay it back? Seems like quite the leap.
Just pass a law if you want to forgive student debt. I think I’ve read in a document somewhere that there a procedure for this involving, some sort of democratic process. The opinion on this case more or less states that is the correct way to go about this. You do believe in the democratic process, don’t you?
So exactly how do they “deserve it”? Your logic seems to be that since we did stupid stuff in the past then it’s ok to do stupid stuff now. As to Bush tax cuts many people benefited from the tax cuts via lower taxes. Not just the rich. I’m not endorsing them, quite the opposite, but most people now pay lower taxes at all income levels due to those cuts.
Yep, and just like SBA loan payments, the payments were waived for the time of a national emergency. Fortunately now the COVID is over all the payments can resume. That’s how I would interpret what you just posted, of course I’m no lawyer and I can’t afford the kinds of vacations that SCOTUS membership entitles one to. And now that COVID is over, I finally got it last Friday and have had a miserable week, but now I think COVID is even over for me.
I don’t doubt it. And I don’t have a problem with it. Of course, the way to do that is to address the underlying issues causing the problem, which this imperial decree did not do. I’m going out on a limb here, but may I assume you don’t want to forgive all of the debt once just to do it again in five years when everyone maxes out their loans and spends it on BS, knowing — Eff it!!! — President Harris will just forgive it again? If I was in Congress, I could be persuaded to forgive the debt as a one-time measure in return for reform that strongly mitigates the chances of a repeat. Do that.
It is amazing to see how indoctrinated people are these days. How do tax cuts figure into this discussion at all? Loan forgiveness and tax cuts aren't in the same galaxy. A loan is money you borrow with a promise to repay. Tax cuts involve money YOU generated with your own labor and they took it from you and now they're going to give a little bit of your money back to ya. It wasn't the government's money to begin with. That people look at loan forgiveness and equate it in their heads to a tax cut boggles the mind. Indoctrination..
That's just splitting hairs. I've seen many biz loans fail with virtually no assets to support them, especially service oriented companies. Im also sure we can assume some students didn't retain much useful knowledge that their loan paid for, especially those that went to crappy for profit colleges. .
If you want the price of education to skyrocket, then loan forgiveness is the way to do it. The precedent will be set that the government will pick up the tab. Once that precedent is set educational institutions will extort the government knowing they'll pay for it. It will also create an incredible amount of demand since most people will have no expectation of paying for their education anymore. Furthermore, welfare programs rarely ever get repealed. So, buckle up and prepare for the government to run up an exorbitant deficit on the government credit card that will spike the price of education. Of course, our children and grandchildren will pay that debt, but who cares right? Boomers, hold our beers while we show you how selfish we are.
100% spot on. That’s why my position is, do it once but with measures that make it very difficult (“prevents” is sadly unrealistic) for the situation to occur again.
The same holds true for the Trump tax cuts to a degree (which I didn’t support either). Trump and Republicans were elected and they did what they said they would. Many people could have voted for Hillary but they didn’t because she wasn’t exciting enough, so they didn’t vote or voted for Jill Stein. Elections have consequences. This loan giveaway didn’t go through the legislative process. If the Democrats can muster up enough support in congress for poor non college aged people to pay for upper middle class student debt, more power to them.
So I have to agree that having to close The Olde College Inn kitchen most nights had an adverse impact on my grades, and driving all around the state on weekends measuring the water table in piezometers in swamps scattered about central FL wasn’t much better. The second job, however, changed my career trajectory by building environmental field skills that made this graduated engineer intern highly desirable in a developing state with rapidly increasing regulatory requirements. Better grades would have been meaningless when consulting firms were after EITs with the kind of experience I gained working through school. I wasn’t proud of my grades but was damn proud to be the first in my family history to earn a college degree. Having had to pull myself up by the bootstraps, I have extremely limited concern for those that make worse decisions.
It did go through Congress, though. They passed a law that gave the executive the power to waive or modify loans during a national emergency. That may or may not have been a wise thing to do, but they did it all the same.
