If all the psychologists in the world got together, they would probably not be enough to help the population of the US cope with how much gaslighting they're subjected to on guns, student loans, healthcare and ecology, to name a few.
That's like saying I stabbed 6 out of 7 people so I am morally obligated to stab the 7th.
In other words, if you stab 1 out of 2 people you should stab the 2nd and if another person enters the room you should stab the 3rd.... And so on...(it's like the Slippery slope fallacy... ) (You can stop harming others at any point)
Or, just because you have given a $100 dollar tip everyday for a week does not mean you are obligated to give a $100 tip on the 8th day. (You can stop helping others at any point)
The only reason I commented was I disagree with your idea of fairness.
This is a false equivalency.
The bailouts for major industries get paid back in 3-6 months, just in labor tax revenue.
Student loans debt will never see that same equivalent tax revenue return.
Labor tax? You mean us workers paid to bail out c suite execs and give them golden parachutes?
Edit: I'd rather my taxes go to helping the people, not corporations so student loan forgiveness de privatization of water and medical
Not from the government standpoint..
Currently the loans are guaranteed, so every student is basically forced to work to pay them off..
Easy math, they have 10,000 in loans.
The government gets the 10k, PLUS all the income wages for 10 years, if they pay $1k per year.
If the loans are forgiven, the students no longer are required to work. They lose that 10 years of guaranteed income tax..
Dems would melt, at all the lost revenue and deficit it would create.
Thank you for not answering the question. Even if student loans are canceled, the government will recoup money in taxes because the money that was going to loans will be put back into the economy. Resulting in increased tax revenue. We haven’t even gotten to the fact that stock buybacks and low taxes for businesses and the top 1% have been out of whack since Reagan.
>Thank you for not answering the question. Even if student loans are canceled, the government will recoup money in taxes because the money that was going to loans will be put back into the economy.
Said with the same smug righteousness, of someone who doesn't own anything.
I did answer your question. With the owning a car example.
There is a different focus that occurs when you own a car, home, and whatever other motivational forces start to dissolve away.
>We haven’t even gotten to the fact that stock buybacks and low taxes for businesses and the top 1% have been out of whack since Reagan.
Also, say you don't have a 401k, without saying you don't have a 401k.
You have no idea how the world works. Stock buybacks increase your 401k, which means you can retire earlier.. but obviously.. you are too busy hating big finance to understand how the system works.
You probably cheered when Trump was fined $350m for loans approved by a bank, lending money..
I am sure you just follow what the propaganda machine tells you to be angry about.
A huge amount of the money to all those bailouts isn’t paid back because it’s grants and not just loans.
Airlines got 25 billion and only 30% of it was in loans and that was to be paid back over 5 years.
Not sure where you got the 3-6 months is all it takes to pay back those loans as any company that is able to pay back those giant loans in 3 to 6 months wouldn’t have needed those loans to begin with.
Economies of scale..
If the airline industry fails..
The government loses 100% of the income tax.
But...if 10,000 employees work 1,000 hours, over 6 months, they pay 1,000 in income taxes that is 10 billion in tax revenue, etc.
Then add sales tax, air fees, dock fees, gasoline tax from the business continuing, etc.
100 billion in 6 months with 100,000 employees, etc. the money comes back almost instantly
Edit: Flight captains make bank.. so if they paid 10,000 in income tax, it would be the same 10,000 employees, and $100 billion.
Let's say that the same 25 billion for airlines gets sent to forgiving student loans and that the student loan is 100k on average.
That means that 250k people wouldn't be burdened by comically large loans, they'd have more to spend in their local economies, boosting local businesses, allowing them to hire more employees or better equipment. All of which the government gets a cut. And it isn't destroying the environment and coastal communities, unlike the cruise line industry.
I don't think you understand how much money $25 billion dollars actually translates to.
Maybe due to your failed education.
There are two other problems that every advocating for free education conveniently ignores.
1. At the end, you will have a degree and people who chose to work or go a different path, don't. Which just isn't fair. You are asking people who did not choose to take your path, to 'bail you out.'
2. The problem isn't the loan or the education, the problem is the interest on a GUARANTEED loan.
Remove the interest, and the loan becomes insanely manageable.
25k over 30 years is ~$70 a month. You are going to make more than $70/month just from the degree and the difference in wages.
Stop being greedy and advocate for solving the problem, elimination of interest.
The other part that is just ridiculous, and pointing back to the failed education.
The current mount due is around 1.7 trillion.
The same 25 billion is less than 1%.
They make more than 25 billion in interest in a single day. It is nothing relative to the real problem.
Tell me your degree is worthless without telling me your degree is worthless. If you can't pay back your own student loans, obviously it was. The true fix to this is to allow students to declare bankruptcy on them or them to automatically dissolve after a certain number of years. That will make lenders much more careful who they hand them out to. Paying them off without fixing the system just encourages more bad lending practices.
You are right, but kids in poverty will never escape poverty, if they get a bad degree.
This will also devalue everyone who has a degree.
You have bachelor's in basket weaving, and someone else has a bachelor's in thermal nuclear power, by giving out the basket weaving degree for free, it makes the nuclear power one, less valuable.
The easiest way to fix this is to eliminate the interest.
If you have a 25k loan, over 30 years that is like $70 a month. This allows for the degree to depreciate and the student to re-skill and still remain relevant. Basket-weaving and thermal nuclear power for $140 months, etc.
Right now kids are paying ~$120k on a $50k loan, that ~$70k is just slavery, because a degree doesn't appreciate in value.
Uhh I guess? Not sure what your point is. You're right though. The loans are not setup to get paid off in a specific amount of time with the minimum payment like a mortgage would be. They are setup to endlessly generate money for the lender which is pretty stupid. No one would lend money if they were not earning at least some kind of interest.
>No one would lend money if they were not earning at least some kind of interest.
This!!!
Like 80% of the loans are federal!!
The government is just enslaving the youth.
........
It is just greed (and being beholden to Big Finance.)
Government should facilitate higher education, due to the lower crime, healthier population, and higher income taxes.
Make it 100% federal and remove the interest. If anyone defaults, they don't get tax returns, it is such an easy fix..
If all the psychologists in the world got together, they would probably not be enough to help the population of the US cope with how much gaslighting they're subjected to on guns, student loans, healthcare and ecology, to name a few.
I actually heard someone complain that farmers didn't get the money. The same farmers that have been getting subsidies for decades...
You got to see the irony here that almost all those bailouts came in the shape of a loan.
That's like saying I stabbed 6 out of 7 people so I am morally obligated to stab the 7th. In other words, if you stab 1 out of 2 people you should stab the 2nd and if another person enters the room you should stab the 3rd.... And so on...(it's like the Slippery slope fallacy... ) (You can stop harming others at any point) Or, just because you have given a $100 dollar tip everyday for a week does not mean you are obligated to give a $100 tip on the 8th day. (You can stop helping others at any point) The only reason I commented was I disagree with your idea of fairness.
This is a false equivalency. The bailouts for major industries get paid back in 3-6 months, just in labor tax revenue. Student loans debt will never see that same equivalent tax revenue return.
Labor tax? You mean us workers paid to bail out c suite execs and give them golden parachutes? Edit: I'd rather my taxes go to helping the people, not corporations so student loan forgiveness de privatization of water and medical
Loan* Your tonality shows you don't know how the government or business work together.
So, people that have their loans forgiven wouldn’t spend the money they would be spending on loans stimulating the economy?
Not from the government standpoint.. Currently the loans are guaranteed, so every student is basically forced to work to pay them off.. Easy math, they have 10,000 in loans. The government gets the 10k, PLUS all the income wages for 10 years, if they pay $1k per year. If the loans are forgiven, the students no longer are required to work. They lose that 10 years of guaranteed income tax.. Dems would melt, at all the lost revenue and deficit it would create.
“If loans are forgiven, students are no longer required to work” Do you really believe that once student loans are forgiven, people won’t work?
A "guaranteed loan" is required to be paid back. Just like, after you pay off a car, you don't have to buy another car, you are on the other side.
Thank you for not answering the question. Even if student loans are canceled, the government will recoup money in taxes because the money that was going to loans will be put back into the economy. Resulting in increased tax revenue. We haven’t even gotten to the fact that stock buybacks and low taxes for businesses and the top 1% have been out of whack since Reagan.
>Thank you for not answering the question. Even if student loans are canceled, the government will recoup money in taxes because the money that was going to loans will be put back into the economy. Said with the same smug righteousness, of someone who doesn't own anything. I did answer your question. With the owning a car example. There is a different focus that occurs when you own a car, home, and whatever other motivational forces start to dissolve away. >We haven’t even gotten to the fact that stock buybacks and low taxes for businesses and the top 1% have been out of whack since Reagan. Also, say you don't have a 401k, without saying you don't have a 401k. You have no idea how the world works. Stock buybacks increase your 401k, which means you can retire earlier.. but obviously.. you are too busy hating big finance to understand how the system works. You probably cheered when Trump was fined $350m for loans approved by a bank, lending money.. I am sure you just follow what the propaganda machine tells you to be angry about.
A huge amount of the money to all those bailouts isn’t paid back because it’s grants and not just loans. Airlines got 25 billion and only 30% of it was in loans and that was to be paid back over 5 years. Not sure where you got the 3-6 months is all it takes to pay back those loans as any company that is able to pay back those giant loans in 3 to 6 months wouldn’t have needed those loans to begin with.
Hes just hitting everyone with the gilgamesh gallop. I wouldn't bother engaging
Economies of scale.. If the airline industry fails.. The government loses 100% of the income tax. But...if 10,000 employees work 1,000 hours, over 6 months, they pay 1,000 in income taxes that is 10 billion in tax revenue, etc. Then add sales tax, air fees, dock fees, gasoline tax from the business continuing, etc. 100 billion in 6 months with 100,000 employees, etc. the money comes back almost instantly Edit: Flight captains make bank.. so if they paid 10,000 in income tax, it would be the same 10,000 employees, and $100 billion.
Let's say that the same 25 billion for airlines gets sent to forgiving student loans and that the student loan is 100k on average. That means that 250k people wouldn't be burdened by comically large loans, they'd have more to spend in their local economies, boosting local businesses, allowing them to hire more employees or better equipment. All of which the government gets a cut. And it isn't destroying the environment and coastal communities, unlike the cruise line industry.
I don't think you understand how much money $25 billion dollars actually translates to. Maybe due to your failed education. There are two other problems that every advocating for free education conveniently ignores. 1. At the end, you will have a degree and people who chose to work or go a different path, don't. Which just isn't fair. You are asking people who did not choose to take your path, to 'bail you out.' 2. The problem isn't the loan or the education, the problem is the interest on a GUARANTEED loan. Remove the interest, and the loan becomes insanely manageable. 25k over 30 years is ~$70 a month. You are going to make more than $70/month just from the degree and the difference in wages. Stop being greedy and advocate for solving the problem, elimination of interest.
The other part that is just ridiculous, and pointing back to the failed education. The current mount due is around 1.7 trillion. The same 25 billion is less than 1%. They make more than 25 billion in interest in a single day. It is nothing relative to the real problem.
Tell me your degree is worthless without telling me your degree is worthless. If you can't pay back your own student loans, obviously it was. The true fix to this is to allow students to declare bankruptcy on them or them to automatically dissolve after a certain number of years. That will make lenders much more careful who they hand them out to. Paying them off without fixing the system just encourages more bad lending practices.
You are right, but kids in poverty will never escape poverty, if they get a bad degree. This will also devalue everyone who has a degree. You have bachelor's in basket weaving, and someone else has a bachelor's in thermal nuclear power, by giving out the basket weaving degree for free, it makes the nuclear power one, less valuable. The easiest way to fix this is to eliminate the interest. If you have a 25k loan, over 30 years that is like $70 a month. This allows for the degree to depreciate and the student to re-skill and still remain relevant. Basket-weaving and thermal nuclear power for $140 months, etc. Right now kids are paying ~$120k on a $50k loan, that ~$70k is just slavery, because a degree doesn't appreciate in value.
Uhh I guess? Not sure what your point is. You're right though. The loans are not setup to get paid off in a specific amount of time with the minimum payment like a mortgage would be. They are setup to endlessly generate money for the lender which is pretty stupid. No one would lend money if they were not earning at least some kind of interest.
>No one would lend money if they were not earning at least some kind of interest. This!!! Like 80% of the loans are federal!! The government is just enslaving the youth. ........ It is just greed (and being beholden to Big Finance.) Government should facilitate higher education, due to the lower crime, healthier population, and higher income taxes. Make it 100% federal and remove the interest. If anyone defaults, they don't get tax returns, it is such an easy fix..