Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Bernie Sanders to unveil plan to cancel all $1.6T of student loan debt

www-m.cnn.com

Post reply on HN
Print view View original

41–50 of 96 posts

Re: Bernie Sanders to unveil plan to cancel all $1.6T of student loan debt

#41

Post by seneca »

ru999gol wrote: post #18
solotronics wrote: post #5

Earlier quoted context omitted.

Today we have hyper globalized financial systems and if a country implements taxes like this the big players just move their money elsewhere. This only ends up hurting middle class folks who are playing by the books. I think it would make much more sense to have a very simple tax system (a few percent on every capital gain or income, wether corporate or personal) and get rid of every other complexity and loophole. If…

Its sort of amazing that anyone can still openly advocate that raising taxes on the rich "only ends up hurting middle class" or for "no minimum wage" slavery, without getting the shit kicked out of them. The really crazy thing is they think they are good people, not at all rotten and viscous as they truly are. The cliff between rich and poor is ever more increasing, and you think giving the rich more is going to stop…

> Its sort of amazing that anyone can still openly advocate that raising taxes on the rich "only ends up hurting middle class" or for "no minimum wage" slavery, without getting the shit kicked out of them.

Luckily we still live in a civil society where most people understand violence isn't an acceptable response to political disagreement.

Re: Bernie Sanders to unveil plan to cancel all $1.6T of student loan debt

#42

Post by [deleted] »

andonisus wrote: post #27
rayiner wrote: post #6

This is welfare for upper middle class people. https://www.nytimes.com/2018/11/18/opinion/student-debt-forg... > “Education debt,” as Sandy Baum and Victoria Lee of the Urban Institute have written, “is disproportionately concentrated among the well-off.” The highest-earning quarter of the population holds more than a third of all student debt, while the lowest-earning quarter holds only 12 percent, according to Baum…

This plan cancels all student loan debt; It does not matter what percentage of income-earners hold the debt. God forbid something nice happen for the middle class. It's really tiring to have scraped by, worked hard to get where I am, and be told I'm JUST privileged (white, male, income) enough to not qualify for any sort of government assistance.

[deleted]

Re: Bernie Sanders to unveil plan to cancel all $1.6T of student loan debt

#43

Post by freewilly1040 »

rayiner wrote: post #6

This is welfare for upper middle class people. https://www.nytimes.com/2018/11/18/opinion/student-debt-forg... > “Education debt,” as Sandy Baum and Victoria Lee of the Urban Institute have written, “is disproportionately concentrated among the well-off.” The highest-earning quarter of the population holds more than a third of all student debt, while the lowest-earning quarter holds only 12 percent, according to Baum…

The system we have is not fine. Tuition has no downward price pressure and is rising way too fast.

10% cap is nice and all, but not if you’re going to be paying it through middle age. Blunt loan forgiveness is not the answer, but reform is needed.

Re: Bernie Sanders to unveil plan to cancel all $1.6T of student loan debt

#44

Post by groobongithub »

aristophenes wrote: post #28

Just imagine if that amount of money was spent on updated infrastructure. Effective country wide mass transit, better ports and airports. And the money spent would flow right into the economy and circulate over and over, would push construction companies and techniques forward. Or towards clean energy generation, storage, and use. How fast would oil and coal be completely replaced? And again, money pumped into the ec…

I "hustled" like you said. I have no debt and better paying job than my partner, who has a masters degree in education and is a primary school teacher. As we're starting a family, we are considering that our savings will pay that debt.

This is a good proposal for everyone overall, even if you don't think it impacts you personally since you don't have a student loan yourself.

Re: Bernie Sanders to unveil plan to cancel all $1.6T of student loan debt

#45

Post by [deleted] »

freewilly1040 wrote: post #43
rayiner wrote: post #6

This is welfare for upper middle class people. https://www.nytimes.com/2018/11/18/opinion/student-debt-forg... > “Education debt,” as Sandy Baum and Victoria Lee of the Urban Institute have written, “is disproportionately concentrated among the well-off.” The highest-earning quarter of the population holds more than a third of all student debt, while the lowest-earning quarter holds only 12 percent, according to Baum…

The system we have is not fine. Tuition has no downward price pressure and is rising way too fast. 10% cap is nice and all, but not if you’re going to be paying it through middle age. Blunt loan forgiveness is not the answer, but reform is needed.

[deleted]

Re: Bernie Sanders to unveil plan to cancel all $1.6T of student loan debt

#46

Post by chrshawkes »

rayiner wrote: post #6

This is welfare for upper middle class people. https://www.nytimes.com/2018/11/18/opinion/student-debt-forg... > “Education debt,” as Sandy Baum and Victoria Lee of the Urban Institute have written, “is disproportionately concentrated among the well-off.” The highest-earning quarter of the population holds more than a third of all student debt, while the lowest-earning quarter holds only 12 percent, according to Baum…

So true, these clowns made the rules we currently abide by. College being a requirement for middle management positions etc. Only those with a stable upbringing (not the majority) have the options to play by those rules, now they want to change them to bail out the upper middle class?

Re: Bernie Sanders to unveil plan to cancel all $1.6T of student loan debt

#47

Post by overthemoon »

collidge wrote: post #17

I get helping those who are legitimately low income. But this is much broader than that. Please explain how this is not rewarding those who chose to spend their money on luxuries instead of paying their debt. What about those of us who paid off our debt by living frugally? As someone in favor of universal health care, subsidizing college, etc, I'm still against this particular policy decision. It's badly-thought-out…

What ABOUT you? Is your objection that something good is happening to someone suffering under student loan debt? What is the disconnect? "I suffered so they should suffer, too" is not a meaningful objection. Freedom that only affects some and doesn't somehow compensate people who are already free is still freedom.

Moreover the insinuation that the only people in student loan debt are irresponsible is nonsense.

It doesn't make right everyone who lost lifetime income to student loans. It doesn't bring people to life who died in car accidents, and it doesn't give me money back that I spent on a comparatively slow computer 10 years ago. It's still good.

Re: Bernie Sanders to unveil plan to cancel all $1.6T of student loan debt

#48

Post by rustybelt »

rayiner wrote: post #6

This is welfare for upper middle class people. https://www.nytimes.com/2018/11/18/opinion/student-debt-forg... > “Education debt,” as Sandy Baum and Victoria Lee of the Urban Institute have written, “is disproportionately concentrated among the well-off.” The highest-earning quarter of the population holds more than a third of all student debt, while the lowest-earning quarter holds only 12 percent, according to Baum…

I'm a Bernie supporter and I agree. Make free college available to anyone and provide a path to discharge overly burdensome student debt via bankruptcy, but forgiving everything is a waste of resources and political capital. Though, I have to say, one of the things I like about Bernie is he doesn't start with half measures. He starts with the ideal vision, which is probably necessary to even get close to something reasonable in the end. If you start with a compromise position, you end up with a compromised compromise like ObamaCare.

Re: Bernie Sanders to unveil plan to cancel all $1.6T of student loan debt

#49

Post by Shivetya »

rayiner wrote: post #6

This is welfare for upper middle class people. https://www.nytimes.com/2018/11/18/opinion/student-debt-forg... > “Education debt,” as Sandy Baum and Victoria Lee of the Urban Institute have written, “is disproportionately concentrated among the well-off.” The highest-earning quarter of the population holds more than a third of all student debt, while the lowest-earning quarter holds only 12 percent, according to Baum…

Vacating existing debt it wrong headed and relies on ignorance to even be considered. Politicians know the idea of paying off college debt sounds good and that is all they want you to do, think it sounds good instead of thinking about what it really means.

Not only is this welfare to the upper middle and upper classes it is the big wealth transfer to colleges. Colleges who have no reason to keep costs down. Plus they also have the benefit not having to steer people to viable careers and can instead sell them on many cost increasing courses which are more padding for the college bottom line.

If the politicians were serious about education they would lock colleges into rates set by government for any education guaranteed part or in full by government. People fall all over themselves demanding that the medical costs be regulated, where are the screams for colleges to do the same when it comes to costs.

Simply put. A degree cost X dollars. Each course credit is Y. The college that wants their students to receive loans or partial to full payment must offer degrees and courses conforming to the cost the government assigns to that degree. The college must make a good faith effort to see the student graduates with the degree or pay a penalty.

They would fall over themselves to comply

Re: Bernie Sanders to unveil plan to cancel all $1.6T of student loan debt

#50

Post by chrshawkes »

onetimemanytime wrote: post #38
andonisus wrote: post #27

Earlier quoted context omitted.

This plan cancels all student loan debt; It does not matter what percentage of income-earners hold the debt. God forbid something nice happen for the middle class. It's really tiring to have scraped by, worked hard to get where I am, and be told I'm JUST privileged (white, male, income) enough to not qualify for any sort of government assistance.

Why just student debt though? People have a right to complain. Someone has no student debt but credit card debt.

What is so baffling is that much of that debt was accrued as basic living expenses with extremely low interest rates, where the poor have to rely on 20% interest cards, but no bailout?
Post reply on HN