Pack93z
2 years ago

I've seen the (but what about corporations) deflecting comment so many times it's become something that just annoys me. Absolute bullshit angle, in my eyes.

Originally Posted by: Zero2Cool 



I responded to another post in the thread, especially in portion of how it affects the bottom line.

It has often times been stated in a manner that comes off as folks questioning (or blatantly against) student loan debt forgiveness are somehow perfectly fine with billion dollar bailouts or tax breaks for corporations.

Originally Posted by: Zero2Cool 



No one said anything about questioning it, simply responding to an angle about wild spending. Not directly tied.

My questions posed in the original post remain.

Originally Posted by: Zero2Cool 



See the above post, answered the question in my eyes. Sorry I didn't limit to just answering the OP.
"The oranges are dry; the apples are mealy; and the papayas... I don't know what's going on with the papayas!"
Zero2Cool
2 years ago

Since replying to one post in the thread wasn't proper; I will answer the question as I understand it.

The money has already been spent, the loan was paid out to the colleges years past. The government guaranteed the money interest free until the borrower left school (graduated or dropped out). Burden then shifts for repayment with interest.

So wiping out the money isn't spending new dollars; it is wiping it off the books of an accounts payable item back to the government; then put back into the budget to new loans or some other spending agenda.

So at this point; its lost revenue/incoming verses new spending.

Circles back to my opinion, wipe the interest away, lengthen the repayment out, withhold % of refunds, etc. Anything but wipe it off the books. I currently have one son paying his loan back, cutting the interest would do wonders in benefit. We were researching it the other night, one of the articles we read that covers basic nuts and bolts of the bill.

https://usafacts.org/articles/who-would-benefit-if-10000-of-student-loans-were-canceled/?utm_source=google&utm_medium=cpc&utm_campaign=ND-Education-Childcare&gclid=EAIaIQobChMImeTCv5Hv-QIVo2pvBB188QE7EAAYASAAEgK0sfD_BwE 

Originally Posted by: Pack93z 



Forgive my ignorance here, but does that mean the government is just saying we're not gonna collect the money then? Meaning, we're not gonna get raised taxes to forgive the student loan debt? That would also mean that we (tax payers) basically already paid the money, right?


I haven't had time to read all other posts, but this one was short and had me so I popped in some keystrokes. Back to work and monitor Tweeter for cut downs.
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Pack93z
2 years ago

Forgive my ignorance here, but does that mean the government is just saying we're not gonna collect the money then? Meaning, we're not gonna get raised taxes to forgive the student loan debt? That would also mean that we (tax payers) basically already paid the money, right?

Originally Posted by: Zero2Cool 



Not that the government works identical to a business and I am cutting much of the actual process / laws out; so speaking very generally.

The money they are forgiving it money on the books as incoming cash and the revenue portion is the interest coming back; so it is in a accounts receivable bucket and is factored into the budget and incoming funds.

By forgiving that; there will be less funds coming in. Those are going to be need to be made up someplace. Probably "hoping" that wiping out this debt translates into spending which will generate tax $$ to offset.

But more than likely, yes, we will see a tax hit for it; everything trickles down.

That said, this is why I was mentioning other facets that we forgive debt/bailout; it really comes out to the portion of funds handing out and how it flows back into the economy.


"The oranges are dry; the apples are mealy; and the papayas... I don't know what's going on with the papayas!"
Cheesey
2 years ago
That's one of the major problems. People see loan forgiveness, and think "FREE MONEY!" They either think that it just materializes out of no where, or don't care WHO ends up having to pay for it. Once again, it's the HOORAY FOR ME, AND F#@K YOU approach.
And sadly, a lot of people aren't smart enough to realize that the tax payers will be the one paying for it. As has been stated several times here already, FREE is not FREE. It WILL end up being paid for, and by us. Just kicking the can down the road.
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Pack93z
2 years ago

That's one of the major problems. People see loan forgiveness, and think "FREE MONEY!" They either think that it just materializes out of no where, or don't care WHO ends up having to pay for it. Once again, it's the HOORAY FOR ME, AND F#@K YOU approach.
And sadly, a lot of people aren't smart enough to realize that the tax payers will be the one paying for it. As has been stated several times here already, FREE is not FREE. It WILL end up being paid for, and by us. Just kicking the can down the road.

Originally Posted by: Cheesey 



I am all for the hard line approach; but then it has to be applied equally and fairly. If we are worried about this money; then we have to be worried about money elsewhere just as much.

I am definitely a centrist in philosophy; I can't get behind either parties blanket approach to governing. I do not find it appalling that we are helping in this regard; just can't get behind forgiveness. But not taking interest on that borrowed money is a good middle ground to help those in debt to try an better themselves.

And yes, there are those that abuse the system; just like there are in all facets of life.
"The oranges are dry; the apples are mealy; and the papayas... I don't know what's going on with the papayas!"
dhazer
2 years ago

Generally speaking, yes, there are benefits to the government investing in education. A better-educated workforce means more highly skilled work stays in the country, which means better products are invented and produced, we're more competitive in the global market, wages for the working class go up, GDP increases, and society as a whole is better off. Education spending is one of the most effective and efficient uses of government money over the long term.

Now, whether student loan forgiveness is the most efficient way to go about investing in secondary education is certainly debatable. Personally, I would rather see programs that provide free or low-cost secondary education going forward, whether that be free community college, state college, or significantly expanding programs that provide financial aid to lower-income individuals so they can afford to get an education. The fact of the matter is the costs of secondary education in this country are extremely high compared to most developed nations, many of which offer completely free secondary education to those who want it.

Free or low-cost secondary education tends to give the working class much more social mobility. When you can, at any time in life, go back and get a degree, train at a technical school and learn a new skill, it empowers people to better themselves (which in turns helps the wheels of the economy turn). Someone below the poverty line who is already working two or three jobs doesn't have the luxury of time or the money required to get educated and improve their circumstances, which is a real catch-22 sort of problem that keeps them stuck at the bottom of the ladder.

Another thing to keep in mind is that progress toward universal secondary education or similar programs will always be "unfair" to some people. In the same sense that the cost of education for people looking to go to college is much higher these days than it was 20, 30, 50 years ago. That is also unfair. So by lowering the cost of education (in whatever form) fairness is being restored more than anything.

Yes, I realize "free" education means society as a whole pays for it in taxes. The thing I don't understand is why we seem to collectively agree that it's a good use of our tax money to provide education up to the age of 18, but after that, spending a solitary cent is beyond the pale. Especially these days when a bachelor's and even in some cases a master's degree is required for many jobs that Boomers were able to get with a high school diploma.

Investing in secondary education is just as beneficial to society as investing in K-12.

Originally Posted by: earthquake 



To be honest with you I think College should be something that is tough to get into and limited to people, how many of these kids will actually go into the field they are majoring in such as basket weaving or gender identity? As I am getting a Bachelor's Degree I think it's useless. I am doing online classes and basically teaching myself but have to pay too much money for the class and webbooks. I can't see how anyone can possibly fail out of college when everything is done online and you can google all your answers.
A perfect example was i had many females get an Associate degree in computer support and still have me fix their computers because they have no clue but they were able to memorize a textbook. These kids need to go to trade schools and actually learn how to work. our schools as a whole is very sad. Go to a grocery store and when they tell you the bill is 20.50 and you give them 30 and they type it in and then you turn around and hand them another 1.50 and they are lost on how much change to give back.
Just Imagine this for the next 6-9 years. What a ride it will be 🙂 (PS, Zero should charge for this)
UserPostedImage
dhazer
2 years ago

Since replying to one post in the thread wasn't proper; I will answer the question as I understand it.

The money has already been spent, the loan was paid out to the colleges years past. The government guaranteed the money interest free until the borrower left school (graduated or dropped out). Burden then shifts for repayment with interest.

So wiping out the money isn't spending new dollars; it is wiping it off the books of an accounts payable item back to the government; then put back into the budget to new loans or some other spending agenda.

So at this point; its lost revenue/incoming verses new spending.

Circles back to my opinion, wipe the interest away, lengthen the repayment out, withhold % of refunds, etc. Anything but wipe it off the books. I currently have one son paying his loan back, cutting the interest would do wonders in benefit. We were researching it the other night, one of the articles we read that covers basic nuts and bolts of the bill.

https://usafacts.org/articles/who-would-benefit-if-10000-of-student-loans-were-canceled/?utm_source=google&utm_medium=cpc&utm_campaign=ND-Education-Childcare&gclid=EAIaIQobChMImeTCv5Hv-QIVo2pvBB188QE7EAAYASAAEgK0sfD_BwE 


Originally Posted by: Pack93z 



Just wanted to point out it is an illegal executive order he is trying to do, a bill has to pass thru congress which by law should have to do.

Just Imagine this for the next 6-9 years. What a ride it will be 🙂 (PS, Zero should charge for this)
UserPostedImage
Cheesey
2 years ago

Just wanted to point out it is an illegal executive order he is trying to do, a bill has to pass thru congress which by law should have to do.

Originally Posted by: dhazer 



Don't you know? The rules/laws don't apply to Biden and his cronies!😁đŸ€Ș
UserPostedImage
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dfosterf (4h) : So eerily quiet here in Alexandria. I live in the flight path of commercial craft coming from the south and west, plus the military craft
dfosterf (4h) : So eeri
Mucky Tundra (8h) : Now that's a thought, maybe they're looking at the college ranks? Maybe not head coaches but DC/assistant DCs with league experience?
beast (9h) : College Coaches wouldn't want that publicly, as it would hurt recruiting and they might not get the job.
beast (9h) : I thought they were supposed to publicly announce them, at least the NFL ones. Hafley was from college, so I believe different rules.
Mucky Tundra (9h) : Who knows who they're interviewing? I mean, nobody knew about Hafley and then out of nowhere he was hired
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TheKanataThrilla (26-Jan) : Exactly buck...Washington came up with the ball. It is just a shitty coincidence one week later
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buckeyepackfan (26-Jan) : That brings up the question, why wasn't Nixon down by contact? I think that was the point Kanata was making.
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packerfanoutwest (26-Jan) : well, he was
TheKanataThrilla (26-Jan) : Eagles down by contact on the fumble....fuck you NFL
Mucky Tundra (26-Jan) : I think this games over
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packerfanoutwest (26-Jan) : that being said, The Ravens are the Browns
packerfanoutwest (26-Jan) : Browns, Dolphins have longest AFC Championship droughts
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beast (26-Jan) : Someone pointed out, with Raiders hiring Carroll, the division games between Carroll and Jim Harbaugh are back on (who can whine more games)
beast (26-Jan) : I'm confused, Pete Carroll and Brian Schottenheimer? When Todd Monken, Joe Brady, Kellen Moore, Kliff Kingsbury and Zac Robinson are availab
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Martha Careful (25-Jan) : thank you Mucky for sticking up for me
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Mucky Tundra (24-Jan) : Rude!
beast (24-Jan) : Martha? 😋
Zero2Cool (24-Jan) : Raiders hired someone from the elderly home.
dfosterf (24-Jan) : I'm going with a combination of the two.
beast (24-Jan) : Either the Cowboys have no idea what they're doing, or they're targeting their former OC, currently the Eagles OC
Zero2Cool (23-Jan) : Fake news. Cowboys say no
Zero2Cool (23-Jan) : Mystery candidate in the Cowboys head coaching search believed to be Packers ST Coordinator Rich Bisaccia.
beast (23-Jan) : Also why do both NYC teams have absolutely horrible OL for over a decade?
beast (23-Jan) : I wonder why the Jets always hire defensive coaches to be head coach
Zero2Cool (22-Jan) : Still HC positions available out there. I wonder if Hafley pops up for one
Zero2Cool (22-Jan) : Trent Baalke is out as the Jaguars GM.
dfosterf (22-Jan) : Jeff Hafley would have been a better choice, fortunately they don't know that. Someone will figure that out next off season
Zero2Cool (22-Jan) : Aaron Glenn Planning To Take Jets HC Job
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