61–70 of 96 posts
I personally am not a fan of canceling student loan debt. However what I am a fan of is lowering the interest rate to nearly 0. I still have some of my student loans left and most of them at at 1.8%. However I have some friends who went to college after me and theirs are at nearly 7%. That just doesn't seem fair.
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…
Incredible how people like you consistently think high student loan debt is exclusively due to immoral choices.
“Sanders will also release a detailed roadmap -- centered on new taxes on Wall Street -- to raise the $2.2 trillion dollars necessary to pay for this program and his other college funding plans. It will include a 0.5% tax on stock trades (or 50 cents for every $100 worth of stock), a 0.1% fee on bonds, and a 0.005% fee on derivatives. Sanders believes that could raise more than $2.4 trillion dollars over the next ten…
As for the results: "revenues from these taxes were disappointing. For example, revenues from the tax on fixed-income securities were initially expected to amount to 1,500 million Swedish kronor per year. They did not amount to more than 80 million Swedish kronor in any year and the average was closer to 50 million. In addition, as taxable trading volumes fell, so did revenues from capital gains taxes, entirely offsetting revenues from the equity transactions tax that had grown to 4,000 million Swedish kronor by 1988" [0].
[0]: https://en.wikipedia.org/wiki/Swedish_financial_transaction_...
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 kind of excessive fixation on perfect fairness is exactly what got us into this mess. They thought they could help the poor attend college by giving them grants, then the middle class would have loans, and the rich had to pay their own way. Then it turned out that both the poor and the middle class had to take out loans because grants were too expensive, and the "rich" were fine anyway. Here's a crazy thought: i…
That is why you hear about free college, like Germany, and not one peep about what Germany's income tax brackets look like: http://www.worldwide-tax.com/germany/germany_tax.asp
Tax % Tax Base (EUR)
0 Up to 9,000
14% 9,001-54,949
42% 54,950-260,532
45% 260,533 and over
Earlier quoted context omitted.
I'd kind of expect richer people to be more likely to go to college, and also be more likely to have the contacts to get a well paying job. On that basis I would expect this to benefit the lower middle class, they accrued the debt without accruing the earning potential.
Sort of the point is that it’s not needs based. It doesn’t matter if you make 400k with 100k of debt or 36k with 6k of debt. Fairly clear one of those 2 is getting a much better deal.
All that said I'm not from the US, so didn't expect fees to vary so much. (do they?)
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 doe…
This isn't what I said. If you want to twist other people's words, I can do that too: "There are unfair things in life therefore we should not put any effort into trying to make our own policies fair".
Earlier quoted context omitted.
This kind of excessive fixation on perfect fairness is exactly what got us into this mess. They thought they could help the poor attend college by giving them grants, then the middle class would have loans, and the rich had to pay their own way. Then it turned out that both the poor and the middle class had to take out loans because grants were too expensive, and the "rich" were fine anyway. Here's a crazy thought: i…
It's not a matter of "perfect fairness" versus "workable compromise." Sanders' proposal epitomizes everything that's wrong with progressive liberals' attempts to implement a welfare state. While everyone else in the developed world treats middle and upper middle class people as the benefactor class, people like Sanders are convinced that the kid who took $150,000 in loans to attend a liberal arts college and now make…
I can't find this mentioned, is this only federal loans held by the government or would this involve forgiving privately held debts. The first seems reasonable. The second seems terrifying.
"Forgiving privately held debts" sounds an awful lot like "taking (stealing) from the lender". That probably would not pass a Supreme Court review. (No taking without just compensation.)
Earlier quoted context omitted.
Incredible how people like you consistently think high student loan debt is exclusively due to immoral choices.
No one once in this topic has said "exclusively due to immoral choices".
Earlier quoted context omitted.
It's not a matter of "perfect fairness" versus "workable compromise." Sanders' proposal epitomizes everything that's wrong with progressive liberals' attempts to implement a welfare state. While everyone else in the developed world treats middle and upper middle class people as the benefactor class, people like Sanders are convinced that the kid who took $150,000 in loans to attend a liberal arts college and now make…
Is it the case that you are coming at this from a point of view that is opposed to progressive liberalism in general? That would have been helpful to mention up front, because the article you cite is actually arguing from the view of Sanders' proposal being insufficiently progressive. It seems disingenuous to me to cite it without clarifying that your own reasons for opposing the proposal are completely different.