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+--- Thread: Campaign promise fulfilled: student loan forgiveness (/showthread.php?tid=270047)
Re: Campaign promise fulfilled: student loan forgiveness - DeusxMac - 08-25-2022
C(-)ris wrote:
Yet again rewarding those who didn’t work their way through life doing what they could afford. How about those who ate ramen for 10 years, lived in a shared apartment, and only bought what they could afford who paid their $50k in loans off on time?
That's called "born too soon". In one form or another it happens to everyone.
Re: Campaign promise fulfilled: student loan forgiveness - Filliam H. Muffman - 08-25-2022
Re: Campaign promise fulfilled: student loan forgiveness - Lemon Drop - 08-25-2022
Filliam H. Muffman wrote:
Ralph Norman, who is worth millions, just posted this
https://twitter.com/RepRalphNorman/status/1562125195879620610?t=gmt_lcIPdeDpMGgowWztog&s=19
Re: Campaign promise fulfilled: student loan forgiveness - Acer - 08-25-2022
It seems rather unChristian to begrudge the good fortune of others.
Re: Campaign promise fulfilled: student loan forgiveness - C(-)ris - 08-25-2022
Acer wrote:
It seems rather unChristian to begrudge the good fortune of others.
It isn't the good fortune that is begrudged. If they had funded this via lottery sales or a settlement against private colleges, or any other revenue source besides taxes that would be one thing. Even if they would have made it a tax deduction to reduce income taxes to zero that would have been more agreeable. But straight up gifting $20k to someone who made the conscious choice to be irresponsible with their future is....well, irresponsible with others money.
Re: Campaign promise fulfilled: student loan forgiveness - vision63 - 08-25-2022
C(-)ris wrote:
[quote=Acer]
It seems rather unChristian to begrudge the good fortune of others.
It isn't the good fortune that is begrudged. If they had funded this via lottery sales or a settlement against private colleges, or any other revenue source besides taxes that would be one thing. Even if they would have made it a tax deduction to reduce income taxes to zero that would have been more agreeable. But straight up gifting $20k to someone who made the conscious choice to be irresponsible with their future is....well, irresponsible with others money.
The past is the past. We make the future better. Imagine how my grandparents, great-grandparents and all Black Americans of that time felt paying taxes in America to build neighborhoods, institutions, schools and roads they were banned from.
Re: Campaign promise fulfilled: student loan forgiveness - Acer - 08-25-2022
C(-)ris wrote:
[quote=Acer]
It seems rather unChristian to begrudge the good fortune of others.
It isn't the good fortune that is begrudged. If they had funded this via lottery sales or a settlement against private colleges, or any other revenue source besides taxes that would be one thing. Even if they would have made it a tax deduction to reduce income taxes to zero that would have been more agreeable. But straight up gifting $20k to someone who made the conscious choice to be irresponsible with their future is....well, irresponsible with others money.
OK, I take issue with "irresponsible with their future." These are young people who made an investment in their future. They borrowed money to do it. BIG, DEAL. We borrow money to invest in a house, why not invest in a career--something that will bring returns for the rest of their lives? Most of them are up to date on their loans. Most of them are having to pay those loans back when they are at the lowest earning years of their new careers, while also getting married, having children, paying rent, saving for a house, repairing their cars. You may disagree that they need or deserve loan forgiveness, but there's no call to insult them.
Re: Campaign promise fulfilled: student loan forgiveness - C(-)ris - 08-25-2022
Acer wrote:
[quote=C(-)ris]
[quote=Acer]
It seems rather unChristian to begrudge the good fortune of others.
It isn't the good fortune that is begrudged. If they had funded this via lottery sales or a settlement against private colleges, or any other revenue source besides taxes that would be one thing. Even if they would have made it a tax deduction to reduce income taxes to zero that would have been more agreeable. But straight up gifting $20k to someone who made the conscious choice to be irresponsible with their future is....well, irresponsible with others money.
OK, I take issue with "irresponsible with their future." These are young people who made an investment in their future. They borrowed money to do it. BIG, DEAL. We borrow money to invest in a house, why not invest in a career--something that will bring returns for the rest of their lives? Most of them are up to date on their loans. Most of them are having to pay those loans back when they are at the lowest earning years of their new careers, while also getting married, having children, paying rent, saving for a house, repairing their cars. You may disagree that they need or deserve loan forgiveness, but there's no call to insult them.
We certainly do borrow money to invest in many things. Can I get $20k because I have a mortgage or a car loan? Perhaps a better idea than giving out free money would be to defer the payments(and no interest) 5 years from graduation.
I thought the point of the forgiveness was because the recipients weren't able to pay for the loans and keep a roof over their head. As in, they took out WAY to much in loans than they could possibly afford and it will take a lifetime to pay them back.
The people you are describing have the ability to pay the loans back and should continue to pay them on the normal payment schedule. They are not irresponsible, they are doing exactly what they should be doing. Investing in their future. However, if the government gives them a gift of $20k of taxpayer money the government is the irresponsible one. These aren't the people who need the $20k so they can eat and put a roof over the heads. They are just getting a nice chunk of change giving them an advantage over others for no reason.
Re: Campaign promise fulfilled: student loan forgiveness - mrbigstuff - 08-25-2022
I really was hoping to see a graduated or tiered system of loan forgiveness, forgive all of the loans below a certain income, adjusted up to no forgiveness at X dollars. But I'm guessing that was just too impossible to calculate and manage, hence the blanket policy.
Re: Campaign promise fulfilled: student loan forgiveness - Acer - 08-25-2022
I would not worry about these young people not learning their life lessons about managing money. It's only $10K. The average student debt burden is $28,950. The aggregate Federal loan portfolio is $1.6 trillion. That's still a lot of hours delivering pizzas in the evenings. Meanwhile, they are our nurses, teachers, engineers, lawyers (oops, bad example), coders, architects, social workers, etc.