i am considering all types of taxes and benefits recieved. the issue is the real rich dont pay much, its a select group, its common sense, the elite run the show and need the masses to follow what they do....that pinches a select few lucky tax payors.
Marjorie Taylor Greene says student loan forgiveness is 'completely unfair' despite the fact her company had loans worth $183,504 forgiven
- Thread starter RayGravesGhost
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I don’t see the GI bill as a handout by any means. It’s much closer to a job benefit and/or tuition reimbursement program It is absolutely earned in exchange for labor.
Student loan forgiveness is the clearing of debt without an exchange of labor. It’s essentially no different than your bank wiping out a portion of a personal loan.
I’m against it philosophically for the simple reason of - you took out a loan and you should be required to pay it back. The basic premise should apply to all people, regardless of their socio-economic status.
The income cap also creates problems. Does the person making $126k not need it? What about the salesperson that had a really good year that can’t qualify? That person gets hosed twice.
That being said, I completely understand the need for reform. A program to reduce the amount of interest over the life of the loan and/or make payments manageable have been a much better option.
No one is arguing this is the fix to the problem you mention
But it isn't small potatoes
What's the value of helping millions of people's monthly income?
Cost of living affordability is small potatoes right now?
Its not a zero sum game...the benefits are felt in much more of the economy than a tax cut for wealthy
44+ million Americans have student loans right now and the majority of those loans balances are $40K or less (75% per Wharton)
https://abc7chicago.com/student-loan-forgiveness-biden-announcement-pell-grant-debt/12161249/
https://budgetmodel.wharton.upenn.edu/issues/2022/8/23/forgiving-student-loans
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I like the idea of a national sales tax. There are a LOT of people that avoid income taxes because of their profession. We have a friend that is a hair stylist, makes really good money and pays taxes on about a third of it.
Is anyone really surprised?
https://www.yahoo.com/news/marjorie-taylor-greene-says-student-110707728.html
Marjorie Taylor Greene says student loan forgiveness is 'completely unfair' despite the fact her company had loans worth $183,504 forgiven
Beatrice Nolan
Thu, August 25, 2022 at 7:07 AM·2 min read
Marjorie Taylor Greene criticized Biden's student loan forgiveness plans as "completely unfair," despite records showing that her own company had $183,504 worth of Paycheck Protection Program (PPP) loans forgiven in 2020.
- Marjorie Taylor Greene has criticized Biden's student loan forgiveness plan announced on Wednesday.
- Speaking on Newsmax TV, she called the student loan relief "completely unfair."
- Taylor Greene's company had $183,504 in PPP loans forgiven in April 2020, according to public data.
The Republican politician and businesswoman was speaking on US conservative news network, Newsmax TV.
On Wednesday, the Biden administration announced plans to forgive $10,000 of student debt for most borrowers, fulling a campaign promise and extending relief to millions of borrowers. Any US residents earning less than $125,000 are set to be eligible for the loan forgiveness.
In her interview, Taylor Greene said the plan was unfair to taxpayers who had never taken out a student loan.
She added that she opposed the student loan program in place in the US, saying: "There should not be a system in place that allows them and encourages them to pile up massive debt in these big colleges and universities."
Data from ProPublica, a tracking site that uses data from the Small Business Association, shows that Taylor Green was one of several Republican members of Congress who had private loans forgiven.
The data shows that the total amount forgiven was $183,504, which represented full forgiveness of the original $182,300 loan plus the accrued interest. The majority of the relief issued in April 2020 was used for payroll, per the data.
The Small Business Association did not immediately respond to Insider's request for comment on the loan. The request was made outside normal working hours.
Taylor Greene's website states that she and her husband Perry Greene bought her family's construction business Taylor Commercial Inc, prior to her election.
Representatives for Taylor Commercial Inc and Marjorie Taylor Greene did not immediately respond to Insider's request for comment made outside of normal working hours.
Taylor Greene also criticized the Biden administration as having a purely political agenda for the student loan plan, telling Newsmax TV that he was looking "to bring in blue votes in November."
What a garbage argument . . . "Because I think the person making the argument is bad, or hypocritical in some respect, the argument made is bad."
Grade in Logic 101: F
Justify your student loan forgiveness plan to
- Those who took out student loans and repaid them in full.
- Taxpayers who wind up bearing the freight of the loans forgiven, a substantial majority of which make far less than those who will benefit from the loan being forgiven.
Query . . . what is the "crisis"?
That people borrowed gobs of money to obtain degrees which have proven "uneconomic" - they don't allow their holders to earn an income which will service the loan?
How is that a "crisis" which requires picking the pockets of everyone who DIDN'T do that?
It'd help if people stopped pretending the student loan program exists for the benefit of the students.
If it did, there'd be consideration of "Whether the degree to be obtained has economic prospects which will allow the borrower to repay the loan," and loans would not be available for degree programs which had no reasonable prospect of doing so.
The "Student Loan Program" exists to feed the Education Establishment, which is very well connected and powerful.
If it went away, or loans were only granted based upon an economic belief that the recipient would be able to repay the loan, it would reduce the money going into the education establishment SIGNIFICANTLY.
Tuitions would also be a lot lower, given "student loan money" funds the administrative bloat which drives up cost.
When it was enacted it was not.
The GI Bill is how we moved from a pre-industrial base where most people did not have a college education to where many were college educated
How do you think we got an educated workforce in the 50s & 60s?
How do you think a majority of this country was able to afford a house and created a middle class?
The government provided the bootstraps that grandpa needed after WWII
Actually that is 100% wrong.
The government loan forgiveness programs that already exist do exactly what you're talking about
And the loan forgiveness recipients now work...that's how they pay on the loans
Yeah but that wasn't the philosophy in place for the PPP loans
Isn't broad but targeted spending what we strive for?
It helps the greatest number of people who need it
Is the person who just falls into the next higher tax bracket being "hosed"?
OK...I don't think those ideas are off the table because of this move
The idea you can pay on these loans for a decade and the loan balance is larger is a major problem
This is a move to address one aspect of the student loan problem
More reform is needed
100%
I prefer a 1 cent fee on all financial transactions...investments, trading, banking, etc
And most of these funding/budgetary issues would go "poof" with plenty of money to spare
AKA ...a government incentive/subsidy to achieve a societal want
(conservatives like to call it a handout when it suits their political needs)
small potatoes was in reference to the student loan forgiveness in the context of overall government cheese. this all leads to more issues with affordability not less.
No, it isn't.
I'm sorry that your degree in Greek Mythology isn't paying off like Woke State University promised. I had a feeling that it wouldn't.
IMO these people should grow up, get a paying job, even if it isn't as fun as COD or Twitter, and pay their way through life. I did. In my late 20's I had a $14k note due every month and I did what I had to do to make that payment. If it was legal, moral and ethical, and it paid me money, I did it on the side and paid my bills.
He is saying net-net, 5 to 10% of our population pays taxes.
I believe that number is closer to 5%.
Dude.......you still arguing with this complete buffoon? lol.......all you do is give him air time and band width waste of forum space. He's not worth the time of day.
Regarding food subsidies, I'm not 100% sure what you're referring to but with things like soybeans and corn, the government subsidies make them more expensive, not less.
They pay people not to grow soybeans to control the price and to keep the price from dropping so low that it's not economical.
Corn is subsidized through ethanol production. It's not an efficient process and if not for government subsidy, the price of gas with ethanol in it would be much higher than gas without ethanol.
I think both of these subsidies are ridiculous, meddlesome and governmental overreach.
They pay people not to grow soybeans to control the price and to keep the price from dropping so low that it's not economical.
Corn is subsidized through ethanol production. It's not an efficient process and if not for government subsidy, the price of gas with ethanol in it would be much higher than gas without ethanol.
I think both of these subsidies are ridiculous, meddlesome and governmental overreach.
