Why Are People So Mad about the Biden 10K forgiveness

originally posted by: VierEyes

originally posted by: DBCowboy
Will people making less than 400,000/year see an increase in their taxes because of this?

The estimate is an additional $2000 per taxpayer.

We can call it extended daycare, like my niece... 23 years old college grad serving Joe blow the auto technician his coffee in the morning.

Just getting started or not even having figured it out yet at 23 (nearly 24) yeah that's too late.

When I was a kid there was nothing more any of us wanted than to get out of the house, out from under the all seeing eye of our parents. In fact I was working as what is now known as a GS mechanic at 16 years old changing tires and oil on cars.

I moved out before I turned 17, my mother thru a fit and wasn't going to allow it... but the fact that my 18 year old girlfriend whose name we rented the apartment with was not even 2 miles away from home.

Mom eventually accepted it because she knew I was going to anyway... I don't think she enjoyed nothing more than showing up bearing gifts like 2 and 3 times a week, she was always there bringing something haha.

a reply to: iamthevirus

Nah, mine wants to design and built robots to do practical things. He wants to be a robotics engineer. Right now, he's focused on robotic exo-skeletons for those who've been paralyzed; he things the fringe benefit is that he'll get to have one that will get him super strength, but he's not quite 12.

So far, he's on the right track. He want to go and do things and he doesn't look back or depend on us. He still has a mini-existential crisis when we talk about the days when he's ready to go it alone, but ... he's not quite 12.

originally posted by: iamthevirus

We can call it extended daycare, like my niece... 23 years old college grad serving Joe blow the auto technician his coffee in the morning.

There are a number of life failures here. The deal is each and everyone of us has have them. I have lost a good 100k on poor investments in my life as example. I had 3 bad car loans to about 30 to 40k and interests of 12 to 18% back when I was a E1 to E3 in the military, and some how I was able to pay them off.

Failure 1
When we look at the people with student loans their first mistake was to maybe sign a high interest loan, then they decided to not only use it for school but to live on it too which most times is a higher cost than just college. So they partied for 4+ years on student loans.

Failure 2
Then they get out and have a degree that aligns with not much of anything in the business world and become a barista, so never really moving into a job that pays well as one would think a degree would get you.

Failure 3
They change nothing, don't refinance to a better interest rate, don't work on skills needed for a better paying job and then you have these horror stories of a person owing 25k and paying 200 bucks per month for 16 years and still owing 25k as they pay only interest payments that whole time.

How f'ing stupid are these people????????? In most cases we are talking a mid range car cost, and they can't even do that??????? We also have the other issue kind of like a guy I work with who has 80k between himself and his wife in school bills, but the two together bring in about 250k per year, so should we help them?

Should the poor of America help pay for these entitled bastards that partied for 4+ years and are now saying they can't even afford a car payment in cost?

I say F them, I don't give a crap, maybe get good and move on with your life.

Yes 12 years old is still a critical time, if I recall I wanted to be an archeologist then, I was fascinated with ancient civilizations (and dinosaurs)

By the time I was 16 and transitioning myself into adult ed toiling over a tire machine and burning my hands in hot of the street engine oil that all changed.

Women have a way of making one fiercely independent.

I did it all for the nookie!

a reply to: ketsuko

a reply to: JAGStorm
Comparing the PPP money to the student loan payoff is a non-starter.
The PPP was for businesses that were mandated by the Govt to shut down during the plandemic. An attempt to help these businesses get through this.
Student loan forgiveness is unconstitutional, the only part of govt that can spend money is the US House of Representatives not the president, and a slap in the face for anyone who worked during college to pay tuition. It is not OUR fault that these people signed their loan papers and agreed to repay.
10K may be a drop in the bucket to the individual student but the aggregate will be paid by the US Taxpayers. 500,000,000,000 is a pretty big drop in the bucket.
In other words why should a person who attended trade school to say be a welder now have to pay for someone who received a useless degree from a college?

a reply to: JAGStorm
because this is the largest transfer of wealth our nation has ever seen... from the working class who didn't take out loans to the wealthy class who chose to take out these loans...
this is gonna cost close to a trillion dollars and the working class is footing the bill... people SHOULD be pissed

Hell they're not even baristas anymore, I remember when they used to actually tamp shots... it was a much livelier place back then, the baristas used to have a dance kinda when you watched them work lol.

Honestly I do not know the details of my nieces plans or if she has applications in somewhere, I can't even remember off the top of my head what she majored in... business management or environmental sciences, my mum would know.

Little miss goody wasn't a partier and in fact she worked as a barista her whole time through college so I am sure she has some game plan.

I was just using the example and as we all know there are plenty of these same exact stories out there... but I wasn't joking about being served my hamburger by college grads, well over 50% of people believe by just possessing such a degree is where it ends.

a reply to: Xtrozero

Just throwing out a conspiracy theory out there. What if that $10,000 erased debt could not be spent on having that child. Boom, another tax payer added to the rosters.

originally posted by: JAGStorm
I want to hear it. Why are you upset?

People have joined the Military and DIED to try to get the G.I. Bill so the Military would pay for what these people were just handed.

This is a big F**k you to every Veteran who had to suffer in any way to get money to go to College.

a reply to: Bob350

Comparing the PPP money to the student loan payoff is a non-starter. The PPP was for businesses that were mandated by the Govt to shut down during the plandemic.

Totally relatable. During the pandemic many students/people paying student loans were sent home. Some had a dramatic cut in pay.

There were many businesses that did just fine without PPP loans.

a reply to: JAGStorm

It's because it's buying votes.

It's because it's only for an elite few.

It's rewarding those that did vote for him.

It's unconstitutional.

originally posted by: JAGStorm
a reply to: Bob350
There were many businesses that did just fine without PPP loans.

Unfortunately about 50% of those funds were scammed, not even mentioning the millions upon millions lost to overseas scammers of pandemic relief funds.

The States are still flush with federal cash and a huge chunk of it just kinda went missing... dissappeared

For me it's because we already have runaway inflation and a national debt that can never be repaid. This just speeds up the process in a pathetic attempt to buy a few votes for the democrat party.

originally posted by: JAGStorm
I want to hear it.

Why are you upset?

Is it because someone is getting something you didn't? Well, that's life isn't it. Lots of people get stuff others don't.
Is it because it's a Democratic President giving it away? Why wasn't it a problem when PPP loans were given out?
Is it because he said it would do it and he did it and now that has empowered Democrats?
Is it because you are responsible and others aren't, yes, that one stings, but again, that's the unfairness of life.
Is it because of our national debt.......well, that's been going up exponentionally for a very long time.

So here is where i'm at with this. Our government is corrupt. They buy votes with favors. Sometimes those favors go to
businesses, sometimes to people. If it were me we would have the most fiscally conservative government the world has ever seen, and the most
socially liberal! Since I don't run the government I have to deal with what we have and i've learned to live with it and not get too worked up.
I vote and vote locally. That is where you can actually see at least a little differece.

The 10K to kids going to college is a drop in the bucket in the overall sceme of things. I personally would rather help college kids starting out vs sending money to other countries or illegal aliens. We always hear, why aren't our kids getting help. Well here is one time they are and everyone is up in arms over it.

My husband and I both went to college. I was living in real poverty when I was in school. We didn't have help from our parents. I worked three jobs at one point and went to school on and off. It was horrible and I hope nobody has to go through that. Even though college was very cheap at the time so was pay.

MAJOR UPDATE October 22, 2022

A Federal Court has done what is FINANCIALLY and LEGALLY BEST FOR AMERICA.

Joe Biden's Illegal Student Loan Forgiveness boondoggle has been put on hold indefinitely.

Source: www.westernjournal.com...

A few weeks ago, the Biden Administration notified millions of former students that they're not eligible to have any part of their student loans paid off by the government. There was a legal problem in the way.

Now, the remaining former college students will have to repay their loans, like everyone with any kind of loan in this country, has to do.

EQUALITY FOR ALL.

all kinds of people sacrificed to get through school with out 10s of thousands in debt, why should those that wanted the "college experience" get rewarded while people that did it right have to pay for it.

At a fundamental level its not fair, but its not going to be the boon people are trying to make it out to be, some folks are going to get bumped up a tax bracket this year if it goes through considering inflation thats worse than paying the student debt.

a reply to: carewemust

Agreed, it's about responsibility and equality to squash this fake handout for a few votes.

It took me 30 years to payoff my student loans, which was finally done just a couple years ago.

I told everyone that sending a $5k check to 180 million people would be inflationary back in 2020 at the start of the pandemic and everyone Called me crazy and people would say things to me like

“That’s not what the Economists and the fed says. The stimulus checks won’t be inflationary”

I told everyone I knew that we have printed more money in the past 3 years then all the money that has been printed from 1787-2018 and be called me a

“ conspiracy theorist and this won’t cause inflation”

Even though a simple google search from the St. Louis Fed has a graph with the M2 money stock and you can see the data yourself.

And here we are at 40 year Inflation highs and now the government wants to create more inflation on top of that by forgiving 400 BILLION dollars over 10 years. Someone on the thread said this was a drop in the bucket. That is 80% of the US military annual budget. Go research it. Doesn’t sound like a drop in the bucket to me.

So the reason why college is so expensive is the government creates the demand by giving as much money the colleges want. This is Freshmen ECONOMICS 101. Simple price discovery or lack thereof. There is no price discovery from the product the universities are selling and the consumer looking to purchase that product because the government creates all the demand . Universities don’t have to have a good product because they always get price they set. There is no negotiation or bargaining or an BID ASK spread like a free market should.

If you look at when the government started providing loans in the early 1970s college tuition and room and board was a pretty steady clip at 2% a year inflation and this why when we talk to BOOMERS they always say things like how they paid for college all the way by working part time in the 1970s and they don’t understand why this generation can’t too!!! I have heard this rant and crap from so many boomers and they are the ones in the 1970s that started the government in the college business.

Once universities started getting money from the government it was a free for all in the 1980s and 1990s because now they could Jack up the tuition to whatever they want especially to pay for all those fancy football stadiums and 1000 more administrative staff making over 100k.

It’s so easy to see. Let’s say the government GURANTEED loans for everyone to buy a car at 4%. Don’t you think the car companies would start jacking up prices to whatever the government money to provide?

If the government got out of the student loan business this problem would be solved because half the colleges would go under and the other half would reduce the operations and personnel so students and parents could afford college.

This is called True Price discovery and the colleges would have to compete at selling the best education at the best price.

originally posted by: DBCowboy
a reply to: JAGStorm

It's against the Constitution.

yes,

congress has to approve the funding.

joe can't say make it so.

so i've heard.

besides, isn't college too hard now so they fired all the teachers?