We get to pay for student loans. Great.

[SassyIrishLass]

You disingenuously ignored all of the points I made, pretending they don't answer your question when they do. It's OK others will comprehend what I wrote and find value in it.

Again... when has it ever worked?

Let me help you, type never and you can go away. Frankly you're past tiresome

 

[MarcATL]

what went over your head?

That's what I thought.

 

[Nostra]

My mortgage identifies as a student loan.

Hey Joe, send my my 10K!

 

[struth]

That's what I thought.

so it did. Gotcha

 

[Missouri_Mike]

Again... when has it ever worked?

Let me help you, type never and you can go away. Frankly you're past tiresome

It’s never been done right! This time will be different!

 

[Votto]

Show me the law that he broke OP.

Ask your right wing tramp Nancy.

I'm guessing she at least knows that only Congress can appropriate funds according to the Constitution.

Trump tried to get money to build his wall but they said he could not do that under the laws.

Why could he not do that but Diaper boy can do this?

 

[Missouri_Mike]

My mortgage identifies as a student loan.

Hey Joe, send my my 10K!

Debt pronouns! Fantastic idea!

 

[Dekster]

I have heard elsewhere that these people will get a 1099 for the forgiven debt, and will have to pay taxes on it as income.
Is this true?

Yes and No. The CARES Act makes student loan discharges/cancellation tax exempt until December 31, 2026. People may get a 1099 for it, but there is apparently a schedule for income taxes they just have to include to exclude it. I am sure when the time comes 44M getting them will prompt someone to do an online how to for those affected.

 

[Darkwind]

When PPP was created the terms were clear, if you keep a payroll it would be forgiven, if not it would have to be repaid

That wasn’t the case with student loans

So, the OP lied. Color Me surprised.

 

[Uncensored2008]

Xi's man doesn't have the constitutional authority to forgive loans. He isn't Emperor - his boss Xi is.

Quid Pro has nothing but contempt for our Constitution,

As Eva Braun Pelosi put it,

 

[MarcATL]

Ask your right wing tramp Nancy.

I'm guessing she at least knows that only Congress can appropriate funds according to the Constitution.

Trump tried to get money to build his wall but they said he could not do that under the laws.

Why could he not do that but Diaper boy can do this?

Because what Trump was trying to do was un-American.

 

[Missouri_Mike]

Yes and No. The CARES Act makes student loan discharges/cancellation tax exempt until December 31, 2026. People may get a 1099 for it, but there is apparently a schedule for income taxes they just have to include to exclude it. I am sure when the time comes 44M getting them will prompt someone to do an online how to for those affected.

There’s no act that covers the EO. You can’t just EO something onto a law.

 

[Dekster]

Republicans have played up the idea that no American should be handed free money for student loan repayment. But a June NPR/Ipsos poll among American adults showed that 55 percent of Americans support giving the $10,000 in loan forgiveness to families making less than $125,000 a year.



The Republican House Judiciary committee posted a comment, "If you take out a loan, you pay it back. Period." They later ranted in all-caps, "NOTHING IS FREE."

In 2020 when the Paycheck Protection Program was created, at least 13 Republican lawmakers took advantage of the free money and never paid it back. The CARES Act handed over $27 million in loans to lawmakers and their families.

"Caregivers Inc., a Pensacola-based company in which Rep. Matt Gaetz (R-FL) has reported holding between $100,001 and $250,000 in corporate stock, received a PPP loan valued between $350,000 and $1 million," reported Citizens for Responsibility and Ethics in Washington (CREW).

Former President Donald Trump filed for bankruptcy six times under five different companies. The New Yorker detailed the extensive amount of business failures over the course of the past decades for Trump.

GOP melts down over Biden's loan forgiveness after Trump filed for bankruptcy six times

Republicans have played up the idea that no American should be handed free money for student loan repayment. But a June NPR/Ipsos poll among American adults showed that 55 percent of Americans support giving the $10,000 in loan forgiveness to families making less than $125,000 a year.The...

www.rawstory.com

You deadbeats need to pay that money back

My favorite canard is that people proclaiming it will be inflationary are the same people who claim they will have to pay for it. If they are really having to pay for it via their taxes, then it would be net zero inflation because the borrowers who would have more money would be spending no more than the put upon conservatives paying less money.

 

[Uncensored2008]

Republicans have played up the idea that no American should be handed free money for student loan repayment. But a June NPR/Ipsos poll among American adults showed that 55 percent of Americans support giving the $10,000 in loan forgiveness to families making less than $125,000 a year.



The Republican House Judiciary committee posted a comment, "If you take out a loan, you pay it back. Period." They later ranted in all-caps, "NOTHING IS FREE."

In 2020 when the Paycheck Protection Program was created, at least 13 Republican lawmakers took advantage of the free money and never paid it back. The CARES Act handed over $27 million in loans to lawmakers and their families.

"Caregivers Inc., a Pensacola-based company in which Rep. Matt Gaetz (R-FL) has reported holding between $100,001 and $250,000 in corporate stock, received a PPP loan valued between $350,000 and $1 million," reported Citizens for Responsibility and Ethics in Washington (CREW).

Former President Donald Trump filed for bankruptcy six times under five different companies. The New Yorker detailed the extensive amount of business failures over the course of the past decades for Trump.

GOP melts down over Biden's loan forgiveness after Trump filed for bankruptcy six times

Republicans have played up the idea that no American should be handed free money for student loan repayment. But a June NPR/Ipsos poll among American adults showed that 55 percent of Americans support giving the $10,000 in loan forgiveness to families making less than $125,000 a year.The...

www.rawstory.com

You deadbeats need to pay that money back

Yo Nazi, were the PPP loans approved by Congress?

Yes or no, Adolf?

 

[Uncensored2008]

My favorite canard is that people proclaiming it will be inflationary are the same people who claim they will have to pay for it. If they are really having to pay for it via their taxes, then it would be net zero inflation because the borrowers who would have more money would be spending no more than the put upon conservatives paying less money.

What if they only pay for 50% of it through higher taxes on the middle class?

Where does the rest come from?

Navigate away from DailyKOS and THINK...

 

[Votto]

Because what Trump was trying to do was un-American.

So securing the border is un-American

Understood.

Then again, what law did he break using your definition of un-American?

Hmm?

You people are such hypocritical lemmings.

You don't even try anymore because you know you don't have to try.

Because................................

 

[Red Front]

None of the rich are going to pay for it. They just get the benefit of having their kids education paid for by you. If I’m rich and have a kid in college I’m going to pay cash for all but 10k for that child’s college this year.That last 10k I’m going to finance and since nobody has to pay back anything for at least the rest of the year, I just wait it out and see if these moron democrats pay it off for me. What are the odds Bidumb is going to make you start paying in January? Fucking zero, it’s a safe bet so I’m going to finance the next 20k because next year he will do it again.

This is how idiots like you that hate rich people actually buttfuck yourselves with free shit. That rich kid is getting a job in daddy’s company. You? Well you’re getting the fucking bill.

It doesn't matter, education should be everyone's human right, in a modern, civilized society. The benefit of having an educated, skilled, competent, populace outweighs the expense of paying teachers and maintaining the facilities and programs of the school. etc. All student debt should be forgiven immediately.

 

[Dekster]

There’s no act that covers the EO. You can’t just EO something onto a law.

Apples and oranges. The question was about the tax implications of the debt cancellation and I answered it. The CARES Act already took care of this.....you know, the law the MAGA Great One personally signed into law after being passed by congress.

 

[1srelluc]

I hope a TX judge enjoins it.

 

[whitehall]

Government by decree. Chances are the lame duck democrat majority is going to spend as much as they can and leave it to republicans to sort it out.