We get to pay for student loans. Great.

[TNHarley]

300B more to spent in the economy with ridiculously high inflation. Sounds great!

 

[Ralph Norton]

Great answer by Biden

We routinely cover for Big Business

And it was related to the question how?

 

[bripat9643]

Will people be able to take out a $10,000 school loan in 2023 and not have to pay it back? 2024? The future?

They'll say "no," but the real answer is yes.

 

[progressive hunter]

Biden cancels $10,000 in federal student loan debt for most borrowers

President Joe Biden announced he will forgive $10,000 in federal student debt for most borrowers.

www.cnbc.com

"President Joe Biden announced Wednesday that he will forgive $10,000 in federal student debt for most borrowers, fulfilling a campaign pledge and delivering financial relief to millions of Americans. Biden will cancel up to $20,000 for recipients of Pell Grants, he also said in a tweet Wednesday. The relief will be limited to Americans earning under $125,000 per year, or $250,000 for married couples or heads of households. At least 9 million borrowers could have their balances entirely cleared by Biden’s plan, according to higher education expert Mark Kantrowitz.

More than 40 million Americans are in debt for their education, owing a cumulative $1.7 trillion, a balance that far exceeds outstanding credit card or auto debt. Calls for broad student loan forgiveness date back to the Occupy Wall Street movement in 2011, shortly before outstanding education debt surpassed $1 trillion. Today the average balance is over $30,000, up from $12,000 in 1980. At the time, advocates began to question why corporations should get a bailout from the government on their debt but not everyday Americans who had sought an education."

At first, I thought this whole student loan debt thing would probably be the most evil and dispicable concept since Obamacare and pre-existing conditions -- but I was wrong...after reading this bill, this student loan debt program is the worse thing to happen in this country since slavery.....There is no justification to bail out people over their student loan debt...they knew what they were signing up for....and trying to claim that if Wall Street gets a bailout, why can't everyone else?

That is ridiculous....First of all, successful Wall Street executives are far more deserving of being bailed out than some Joe Schmo out there with 18K in student loan debt for his stupid liberal arts degree....How is he more worthy than a hedgefund manager?? This hateful liberal policy is a blatant attack on our country's very existence -- and every state should sue this administration and have this program stopped....use that money for something more beneficial to everyday Americans like more corporate tax cuts.....

wow billy so youre not brain dead after all,, just a racist,,,

 

[bripat9643]

It’s nice you’re so concerned about those that took out loans and how fair it is for them. Why the fuck aren’t you concerned about making the people who didn’t take out a loan at all, or who paid theirs off?

They vote Republican.

 

[Red Front]

If you live paycheck to paycheck in the US then you can blame the friggin government.

Almost 40% of the GDP in the US is spent on the combined (Fed, State and Local) cost of government.

That doesn't even include the burden of bat shit crazy government regulations put on the productive economy.

I was an Engineer and my wife a school teacher. In many years my wife's entire take home pay just about equaled our yearly direct and indirect tax burden. My wife had to work to pay the goddamn taxes.

How can anybody make ends meet when the government takes so much money out of the productive economy and gives it to stupid Bureaucrats, whose bosses are corrupt politicians elected by special interest groups?

The best way not be poor in the US is not to help elect Leftest whose failed Leftest policies destroy the productive economy.

If you are poor and you don't want to blame the government then blame yourself for making poor life choices along the way.

Under capitalism, taxes aren't used properly. I was a 76 Yankee Unit Supply Specialist in the US Army back in the early 90s and I saw the prices that the army was paying for something as trivial as a common screwdriver. A tool that you could buy at Home Depot for $8.50, was being sold to the army for $89. The darn screwdriver was made in China! So of course, we, especially the working-class, pay a lot in taxes in this country, but how is that money being used? More, eventually, we're not going to have an economy that uses money or markets, due to the advancement of technology. Getting there is a process of socializing and democratizing production, hence markets and taxes will still exist in a socialist America, at least in the beginning. I believe central planning and strict controls on government, including stringent criminal penalties for corrupt politicians, will solve much of the problems you're mentioning.

We also need to nationalize industries that are vital to our nation's infrastructure. The major centers of economic power should be publicly owned and rendered "commonwealth", hence we will have more money to invest in infrastructure development and social programs. We will also establish a direct democracy, where Americans will elect their representatives, and government officials, without middlemen or some other mediating body or institution. We believe in direct democracy.

 

[bripat9643]

You aren't paying back a single penny. Does that make you feel better? The money was already borrowed via prior bonds and already spent via prior tuition payments so it costs you nothing more.

If not then you should be happy to know your income taxes are based on what you make, not what the government spends, so you will be paying exactly the same amount of money (assuming you even pay income taxes) whether he does this or not.

You're so full of shit your eyes are brown. Allowing borrowers out of their obligation means money that the government won't be receiving in the future. The claim that it won't cost the taxpayers anything is total idiocy.

You have to be one of the dumbest posters in this forum.

 

[progressive hunter]

 

[Canon Shooter]

Great answer by Biden

We routinely cover for Big Business

Yet he shuffled away like a cowardly bitch when asked about those who'd already paid their loans back.

I'm seriously beginning to wonder if Harris would really be worse. Biden just made Carter look like George Washington...

 

[Toddsterpatriot]

Biden for the win:

If you paid off your loans....you're like a billionaire.

 

[Ray From Cleveland]

That money you spent on education could've been spent now to buy your tools, start a business..etc? We take very little of our salaries home when we factor in taxes and all of the other services that we pay the private sector that in other industrialized countries are provided to their citizens as a human right. So we still need healthcare, and we pay more and have some of the worst outcomes in the world. Americans are less healthy and have a lower life expectancy and a higher infant death mortality than practically all industrialized countries and even a few third-world countries like Costa Rica. We're at the bottom of the barrel.

However most is not related to healthcare.

We are the fattest country in the world. We eat fast food on the average three times a week. Because we are so diverse, we have a high murder rate. Over 50% of our murders are committed by just 7% of our population which are black males. Our infant mortality is if a baby dies after taking it's first breath. Other countries don't consider a baby a baby if it's born with birth defects and likely to die in the very near future. Because our women seek careers, they attend college, payoff their college loans, wait until they secure a home before starting a family, and the later you have children the more likely they will have birth defects or death. Then we have our drug problem to consider. Thanks to Biden, we had over 100,000 fentanyl OD"s last year. That's like two professional football stadiums full of people.

There is much more than what kind of healthcare we have that produce the results we get.

 

[bripat9643]

You aren't paying back a single penny. Does that make you feel better? The money was already borrowed via prior bonds and already spent via prior tuition payments so it costs you nothing more.

You are a class-A dumbfuck. Letting borrowers out of their obligations means those loan payments won't contribute to revenue in the future, which means taxes or borrowing will have to be increased to compensate.

If not then you should be happy to know your income taxes are based on what you make, not what the government spends, so you will be paying exactly the same amount of money (assuming you even pay income taxes) whether he does this or not.

In other words, the debt will increase as will inflation along with it.

Bottom line: you're an imbecile.

 

[bripat9643]

Under capitalism, taxes aren't used properly. I was a 76 Yankee Unit Supply Specialist in the US Army back in the early 90s and I saw the prices that the army was paying for something as trivial as a common screwdriver. A tool that you could buy at Home Depot for $8.50, was being sold to the army for $89. The darn screwdriver was made in China! So of course, we, especially the working-class, pay a lot in taxes in this country, but how is that money being used? More, eventually, we're not going to have an economy that uses money or markets, due to the advancement of technology. Getting there is a process of socializing and democratizing production, hence markets and taxes will still exist in a socialist America, at least in the beginning. I believe central planning and strict controls on government, including stringent criminal penalties for corrupt politicians, will solve much of the problems you're mentioning.

We also need to nationalize industries that are vital to our nation's infrastructure. The major centers of economic power should be publicly owned and rendered "commonwealth", hence we will have more money to invest in infrastructure development and social programs. We will also establish a direct democracy, where Americans will elect their representatives, and government officials, without middlemen or some other mediating body or institution. We believe in direct democracy.

Military procurement is an example of socialism, moron.

 

[MarathonMike]

Democrats will bankrupt the country trying to buy votes. We have to take the country back from these maniacs, they care about nothing except their own power.

 

[SassyIrishLass]

It always works, but it's always attacked, sanctioned..etc. More, just because it supposedly never worked in the past, doesn't imply it won't work now or in the future. Capitalism didn't replace chattel slavery and feudalism overnight, it took centuries. The merchants didn't become industrialized overnight, that transformation of capital was dependent upon material conditions and technology. The kings and nobles, the feudal lords, and the monarchies were at war with Republican rebels for centuries, who were defending the vested interests and freedoms of the mercantile class, and eventually, those merchants and traders became industrialists. They eliminated the power of monarchs and replaced slaves and serfs with employees, who had a bit more freedom than slaves and serfs. We improve, evolve, and adopt new and better modes of production.

So I'm going to be a jerk now and start saying things like "Ah you merchants, you Republicans are always failing, losing at the hand of kings and feudal lords. The nobles are always kicking your butts". " Capitalism is a pipe dream, it's a bunch of market utopianism, you people are naive and deluded". The divine right of kings was difficult to overcome and replace with republics and capitalism. Not easy, it took time, trial and error, successes and failures. In the end, the capitalists, the Republicans, won, due to technology, and material conditions, that made capitalism and republics inevitable. Socialism, the socialization and democratization of production due to the advancement of technology, is inevitable. No one can stop it. Socialism is the future, even Einstein knew that:

Monthly Review | Why Socialism?

Is it advisable for one who is not an expert on economic and social issues to express views on the subject of socialism? I believe for a number of reasons that it is.… Clarity about the aims and…

monthlyreview.org

Socialism is inevitable when advanced technology makes production highly efficient and automated. With the loss of human labor and wages, there is a need to produce everything that we consume for the sole purpose of consumption, rather than for a profit or the commoditization of products in markets. With the elimination of wage-labor, there are no more paying consumers, hence no more markets. Society has to then organize production to meet human needs rather than human greed or profits. It's that simple.

Yeah dipshit Venzuela is a shining example of how it works

 

[bripat9643]

Great answer by Biden

We routinely cover for Big Business

It's a weasel, as always. What do tax breaks for billionaires have to do with allowing student borrowers to screw the taxpayers?

Isn't this an example of "whataboutism" that you Trump haters are always whining about?

 

[okfine]

Biden for the win:

As long as he wants to give away money, I want the $10k for not taking out a student loan.

 

[bripat9643]

Great answer by Biden

We routinely cover for Big Business

Business pays for everything, so that claim is obviously false.

 

[Ray From Cleveland]

All of that depends upon wage labor because not everyone owns their own business and if that were the case, no one would have any money. The foundation of capitalism is wage labor. That's how everything is produced now, especially the machines that you will operate to mow that lawn. About 50% of America live paycheck to paycheck, and about 65% have less than $1000 in their bank accounts. Many Americans can't even afford a $500 emergency. This idea that everyone can just start a business is quite naive and doesn't address the fundamental endemic inequalities in our economic system, that undermine people's ability to support themselves and meet their needs.

Once you learn a trade and get some experience, having your own business is as easy as putting an ad in the paper about your services.

I'll take my fathers trade for example, bricklaying. After you have a few years of experience, all you need is your tool bag, perhaps a cement mixer if you don't want to do it by hand, and maybe some scaffolding if you're going to do things more than one story high. That's it.

My occupation was a tractor-trailer driver. Many drivers own their own truck and work for themselves. After a year of experience, just about anyplace will give you a loan to buy a tractor. My cousin has his own remodeling business. He has his van, some saws, hammers and a compressor, most of which you will need if you work for somebody else.

You don't have to lease a building for $10,000 a month to have a business.

 

[rightwinger]

Life is not always fair

Not all business needs subsidies and tax breaks
Not all farmers need subsidies
Not all businesses need bail outs

But they get them