If Biden's economy is so great...why can't folks pay off their student loans???

[sealybobo]

I'm worried about the deadbeats not paying back their loans.

Remember when Obama took over student loans and Senator Warren was
whining that the government was making huge profits on the loans and that
it was unfair? Now she and the rest of the Demtwits want the program to lose
trillions. Fucking useless democrats.

I've already defended the program but I'll say just this. Trump and Bush passed tax breaks to the rich that passed on the tax burden more on to us, the masses.

Biden's student loan forgiveness is a great idea and mostly benefits people who make under $75K.

We need these people to breed. They aren't having enough kids. Biden's policies help the middle class. The struggling middle class.

Now why didn't you cry when Bush and Trump gave tax breaks to rich people like you cry about this?

 

[Indeependent]

I've already defended the program but I'll say just this. Trump and Bush passed tax breaks to the rich that passed on the tax burden more on to us, the masses.

Biden's student loan forgiveness is a great idea and mostly benefits people who make under $75K.

We need these people to breed. They aren't having enough kids. Biden's policies help the middle class. The struggling middle class.

Now why didn't you cry when Bush and Trump gave tax breaks to rich people like you cry about this?

Kids aren't getting married and having babies because of our non-existent morals.
They shack up and fuck.

 

[Dont Taz Me Bro]

If you look at student loans and how much those kids have to pay. And if you take into affect most of the people who will get this money are making less than $75K. How about that? A lot of them are making less than $75K.

And I think they only get $10K forgiven or something like that. Not all of it.

It's insane how much they have to pay. They will

1. Never save enough for retirement
2. Have children and that's becoming a problem. Biden's solution will help fix that problem.
3. Never be able to afford to own a home

Are you pro middle class? This student loan forgiveness thing was very pro middle class. Of course the Supreme's are going to strike it down. And of course Republicans are against it.

I was against it at first too but then I educated myself.

And yet none of you ever complain about "Big Education" gouging people.

 

[Indeependent]

And yet none of you ever complain about "Big Education" gouging people

Big Education is owned by Wall Street.

 

[Toddsterpatriot]

I've already defended the program but I'll say just this. Trump and Bush passed tax breaks to the rich that passed on the tax burden more on to us, the masses.

Biden's student loan forgiveness is a great idea and mostly benefits people who make under $75K.

We need these people to breed. They aren't having enough kids. Biden's policies help the middle class. The struggling middle class.

Now why didn't you cry when Bush and Trump gave tax breaks to rich people like you cry about this?

Biden's student loan forgiveness is a great idea and mostly benefits people who make under $75K.

You have a source to back up this claim?

We need these people to breed.

The stupid ones, who took out massive loans to get useless degrees, we're probably better
off if they don't. The ones who took out loans to get real degrees don't need forgiveness.

Biden's policies help the middle class.

Post the evidence.

 

[toobfreak]

If Biden's economy is so great...why can't folks pay off their student loans???​

Because it is only good enough for conservatives to afford paying them off? Leftists were told that their educations were all part of their free reparations package because they were born into this world disadvantaged stupid tards.

That's why they spent $85,000 on a degree no one is hiring for.

 

[Lord Long Rod]

The whining response from the Gen-XYZ kids:

“We were lied too. The boomers ruined the economy we were entitled to inherit. Generational wealth disparity, bruh! If I can’t get a job with a six-figure salary with my bachelor’s degree in Ugandan transsexual studies, then I don’t have to pay back my student loans, nor will I work any job making less than the six figures I was (not) promised. It’s not fair.”

 

[sealybobo]

And yet none of you ever complain about "Big Education" gouging people.

Oh they need to be regulated too. But yea, probably the Democrats lobbyists are these types.

 

[sealybobo]

Biden's student loan forgiveness is a great idea and mostly benefits people who make under $75K.

You have a source to back up this claim?

We need these people to breed.

The stupid ones, who took out massive loans to get useless degrees, we're probably better
off if they don't. The ones who took out loans to get real degrees don't need forgiveness.

Biden's policies help the middle class.

Post the evidence.

Nope. Look it up dipshit. Especially when I know the evidence won't move you.

So you haven't read the entire law? Yet you claim your'e against it? Some hutspa.

 

[Toddsterpatriot]

Nope. Look it up dipshit. Especially when I know the evidence won't move you.

So you haven't read the entire law? Yet you claim your'e against it? Some hutspa.

Everything I saw shows it mainly benefits upper income people.

 

[sealybobo]

Everything I saw shows it mainly benefits upper income people.

That doesn't make sense. Think about it. If you are rich, you didn't take out student loans. So how can this benefit upper income people? They wouldn't take out student loans if they didn't need them. You'd be stupid to do that. Upper income people pay for their kids schools. No student loans required. Start making sense.

BUT, I will tell you a personal example that will piss you off. My loser neighbor took out student loan, paid her mortgage for 2 years with the money while she went away to prison. And she's most likely going to be one of the people who gets $10K forgiven.

Yea, a part of me too says fuck these people, but then I say it's ONLY going to housholds who make $150K or less and most of the people who will take advantage make under $75K. That's because people who make more than $150K a year probably paid off their shit and can't get $10K back.

 

[Toddsterpatriot]

That doesn't make sense. Think about it. If you are rich, you didn't take out student loans. So how can this benefit upper income people? They wouldn't take out student loans if they didn't need them. You'd be stupid to do that. Upper income people pay for their kids schools. No student loans required. Start making sense.

BUT, I will tell you a personal example that will piss you off. My loser neighbor took out student loan, paid her mortgage for 2 years with the money while she went away to prison. And she's most likely going to be one of the people who gets $10K forgiven.

Yea, a part of me too says fuck these people, but then I say it's ONLY going to housholds who make $150K or less and most of the people who will take advantage make under $75K. That's because people who make more than $150K a year probably paid off their shit and can't get $10K back.

If you are rich, you didn't take out student loans.

You're benefitting almost all people with student loans.
How many people never went to college, percentage-wise.
You said it yourself, people with a degree make a lot more money.

So how can this benefit upper income people? They wouldn't take out student loans if they didn't need them.

How much student debt does the average doctor take on?
How long does it take them to make enough to not qualify for this stupid forgiveness?

Upper income people pay for their kids schools. No student loans required.

If this moronic idea ever passes Congress, do you think it'll be a one-time thing? LOL!

Liberals, as usual, have no real-world clue when it comes to incentives.

 

[sealybobo]

If you are rich, you didn't take out student loans.

You're benefitting almost all people with student loans.
How many people never went to college, percentage-wise.
You said it yourself, people with a degree make a lot more money.

So how can this benefit upper income people? They wouldn't take out student loans if they didn't need them.

How much student debt does the average doctor take on?
How long does it take them to make enough to not qualify for this stupid forgiveness?

Upper income people pay for their kids schools. No student loans required.

If this moronic idea ever passes Congress, do you think it'll be a one-time thing? LOL!

Liberals, as usual, have no real-world clue when it comes to incentives.

Doctors make more than the $150,000 so they don't qualify. Even if they did, so what? It's $10K forgiven. How much did they spend? Don't use doctors as an example because we need more of them and school is outrageous.

No it won't be a one time thing. Did you think that when Bush gave rich people tax breaks it would be a one time thing? How many times did he pass tax breaks for rich people and corporations? Then Trump doubled the number of corporations who now pay no federal taxes. So no, I would not think student loan forgiveness is the last thing Democrats do for middle class people.

Oh but here's one that will support your argument. SNAP recipients who get foodstamp money, were getting an extra $95 a month ever since covid. Now it's ending and those families are now complaining that, and I quote, "it's going to be harder to feed our families if you take the bonus $95 away".

My response to that? Of course it's going to get harder. It's going to go back to what it was. Yes, it was easier to feed yourselves while you were getting the bonus $95 but that was only supposed to be temporary stupid. Do you understand we can't afford you? So be grateful for the money you get. I bet if we took all of it away you and your kid wouldn't starve. I'd bet you'd figure out a way to put food on the table. I don't mind giving you help while you try to figure out how to get out of the hole you dug yourself into, but if you don't mind me asking, what is your plan? How do you plan on getting off SNAP? Don't waste time arguing or crying that your bonus free money is ending. That's just insulting to the rest of us. Right now there are millions of unfilled jobs. Go get one. "

Most of these people are single moms. I can't yell at their kids but I bet their kids turn out just like their mama's and baby daddys.

 

[Toddsterpatriot]

Doctors make more than the $150,000 so they don't qualify. Even if they did, so what? It's $10K forgiven. How much did they spend? Don't use doctors as an example because we need more of them and school is outrageous.

No it won't be a one time thing. Did you think that when Bush gave rich people tax breaks it would be a one time thing? How many times did he pass tax breaks for rich people and corporations? Then Trump doubled the number of corporations who now pay no federal taxes. So no, I would not think student loan forgiveness is the last thing Democrats do for middle class people.

Oh but here's one that will support your argument. SNAP recipients who get foodstamp money, were getting an extra $95 a month ever since covid. Now it's ending and those families are now complaining that, and I quote, "it's going to be harder to feed our families if you take the bonus $95 away".

My response to that? Of course it's going to get harder. It's going to go back to what it was. Yes, it was easier to feed yourselves while you were getting the bonus $95 but that was only supposed to be temporary stupid. Do you understand we can't afford you? So be grateful for the money you get. I bet if we took all of it away you and your kid wouldn't starve. I'd bet you'd figure out a way to put food on the table. I don't mind giving you help while you try to figure out how to get out of the hole you dug yourself into, but if you don't mind me asking, what is your plan? How do you plan on getting off SNAP? Don't waste time arguing or crying that your bonus free money is ending. That's just insulting to the rest of us. Right now there are millions of unfilled jobs. Go get one. "

Most of these people are single moms. I can't yell at their kids but I bet their kids turn out just like their mama's and baby daddys.

Then Trump doubled the number of corporations who now pay no federal taxes.

How does a corporation ever pay no taxes? Tell me you understand.

 

[sealybobo]

Then Trump doubled the number of corporations who now pay no federal taxes.

How does a corporation ever pay no taxes? Tell me you understand.

They pay no federal taxes. That's a problem. I said FEDERAL didn't I???

 

[Toddsterpatriot]

They pay no federal taxes. That's a problem. I said FEDERAL didn't I???

How does a corporation ever pay no Federal taxes? Tell me you understand.

 

[sealybobo]

How does a corporation ever pay no Federal taxes? Tell me you understand.

The Tax Cuts and Jobs Act lowered the corporate tax rate from 35 percent to 21 percent. In its first year, the number of companies paying no taxes went from 30 to 60.

At least 60 companies reported that their 2018 federal tax rates amounted to effectively zero, or even less than zero, on income earned on U.S. operations, according to an analysis released today by the Washington, D.C.-based think tank, the Institute on Taxation and Economic Policy. The number is more than twice as many as ITEP found roughly, per year, on average in an earlier, multi-year analysis before the new tax law went into effect.

Among them are household names like technology giant Amazon.com Inc. and entertainment streaming service Netflix Inc., in addition to global oil giant Chevron Corp., pharmaceutical manufacturer Eli Lilly and Co., and farming and commercial equipment manufacturer Deere & Co.

The identified companies were "able to zero out their federal income taxes on $79 billion in U.S. pretax income," according to the ITEP report, which was released today. "Instead of paying $16.4 billion in taxes, as the new 21 percent corporate tax rate requires, these companies enjoyed a net corporate tax rebate of $4.3 billion, blowing a $20.7 billion hole in the federal budget last year." To compile the list, ITEP analyzed the 2018 financial filings of the country's largest 560 publicly-held companies.

The controversial Tax Cuts and Jobs Act, signed by President Donald Trump in December 2017, lowered the corporate tax rate to 21 percent from 35 percent, among other cuts. That's partly to blame for giving corporations an easier way out of paying taxes, said Matthew Gardner, an ITEP senior fellow and lead author of the report. The new corporate tax rate "lowers the bar for the amount of tax avoidance it takes to get you down to zero," he said.

"The specter of big corporations avoiding all income taxes on billions in profits sends a strong and corrosive signal to Americans: that the tax system is stacked against them, in favor of corporations and the wealthiest Americans,"

 

[Toddsterpatriot]

The Tax Cuts and Jobs Act lowered the corporate tax rate from 35 percent to 21 percent. In its first year, the number of companies paying no taxes went from 30 to 60.

At least 60 companies reported that their 2018 federal tax rates amounted to effectively zero, or even less than zero, on income earned on U.S. operations, according to an analysis released today by the Washington, D.C.-based think tank, the Institute on Taxation and Economic Policy. The number is more than twice as many as ITEP found roughly, per year, on average in an earlier, multi-year analysis before the new tax law went into effect.

Among them are household names like technology giant Amazon.com Inc. and entertainment streaming service Netflix Inc., in addition to global oil giant Chevron Corp., pharmaceutical manufacturer Eli Lilly and Co., and farming and commercial equipment manufacturer Deere & Co.

The identified companies were "able to zero out their federal income taxes on $79 billion in U.S. pretax income," according to the ITEP report, which was released today. "Instead of paying $16.4 billion in taxes, as the new 21 percent corporate tax rate requires, these companies enjoyed a net corporate tax rebate of $4.3 billion, blowing a $20.7 billion hole in the federal budget last year." To compile the list, ITEP analyzed the 2018 financial filings of the country's largest 560 publicly-held companies.

The controversial Tax Cuts and Jobs Act, signed by President Donald Trump in December 2017, lowered the corporate tax rate to 21 percent from 35 percent, among other cuts. That's partly to blame for giving corporations an easier way out of paying taxes, said Matthew Gardner, an ITEP senior fellow and lead author of the report. The new corporate tax rate "lowers the bar for the amount of tax avoidance it takes to get you down to zero," he said.

"The specter of big corporations avoiding all income taxes on billions in profits sends a strong and corrosive signal to Americans: that the tax system is stacked against them, in favor of corporations and the wealthiest Americans,"

The Tax Cuts and Jobs Act lowered the corporate tax rate from 35 percent to 21 percent.

That lower rate doesn't allow corporations to just pay no Federal tax.

The identified companies were "able to zero out their federal income taxes on $79 billion in U.S. pretax income," according to the ITEP report, which was released today.

How were they "able to zero out their federal income taxes on $79 billion in U.S. pretax income,"?

That's partly to blame for giving corporations an easier way out of paying taxes, said Matthew Gardner,

Matthew sounds like an idiot.

big corporations avoiding all income taxes on billions in profits

Right. But how do they actually do it? Be specific.

 

[Care4all]

The Tax Cuts and Jobs Act lowered the corporate tax rate from 35 percent to 21 percent.

That lower rate doesn't allow corporations to just pay no Federal tax.

The identified companies were "able to zero out their federal income taxes on $79 billion in U.S. pretax income," according to the ITEP report, which was released today.

How were they "able to zero out their federal income taxes on $79 billion in U.S. pretax income,"?

That's partly to blame for giving corporations an easier way out of paying taxes, said Matthew Gardner,

Matthew sounds like an idiot.

big corporations avoiding all income taxes on billions in profits

Right. But how do they actually do it? Be specific.

Corporate Tax Avoidance Under the Tax Cuts and Jobs Act

Thirty-nine profitable corporations in the S&P 500 or Fortune 500 paid no federal income tax from 2018 through 2020, the first three years that the Tax Cuts and Jobs Act (TCJA) was in effect. Besides the 39 companies that paid nothing over three years, an additional 73 profitable corporations...

itep.org

 

[Care4all]

Many student loans are PREDATORY loans.