Disgusted with the Biden administration

posted by iclfan2

Lol I wasn’t saying you. And would absolutely not. Thanks. I would support any party lowering interest rates or even back tracking on cumulative interest. But a handout, nah. Also, colleges need penalized. 100+ worthless employees at each one

They already did that.  Obama lowered the cap on payments as a % of disposable income (you know, what responsible people should have left over AFTER food, rent and utilities) to a max of 10% from 15%, and then it was lowered again to 5%.  And then the loan was forgiven after 25 years (lowered to 20 I think).  I believe this new bill might lower it to 10 years.  Not sure if everyone can qualify for forgiveness, but I think so.

In other words, already pretty damn close to free as someone making $100k would have their payments capped at like $3k per year.

1. The White House gives the following example of how monthly payments would shrink under the proposed changes: A typical single public school teacher with an undergraduate degree, making $44,000 a year, would pay only $56 a month on their loans, compared to the $197 they pay now under the most recent income-driven repayment plan. This would add up to an annual savings of nearly $1,700

posted by geeblock

People with kids get 10 s of thousands of dollars in tax credits  each year for two decades. For what? Because they had a kid? How is this fair to those of us who don’t have kids? It’s not that diff

Reducing your taxes is VERY different from an actual handout.  I don't consider it a handout if you lower the money you confiscate from me from say $1000 to $500.

Also, our entire economic system is geared toward growth.  It's an incentive, or rather it's designed to reduce the cost of having kids.

A college degree, on the other hand, produces a positive ROI even despite the rising costs.  You shouldn't need my money to invest in yourself.

posted by jmog

You would need 4+ kids to get “10s of 1000s of dollars each year”

I dont know what it is this year but wasnt it like 3600 per kid during covid?

im also enjoying watching people rail about this on twitter then go to the comments and someone has a screenshot of their forgiven PPP loan of over 500k

The hypocisy is......IMMEASURABLE.

PPP was known to be forgivable up front. PPP was an answer to fix something the government fucked up. PPP was passed by Congress. But otherwise totes the same. 

posted by iclfan2

PPP was known to be forgivable up front. PPP was an answer to fix something the government fucked up. PPP was passed by Congress. But otherwise totes the same. 

Exactly.  Laughable how people just regurgitate talking points without any independent thought.

PPP loans were designed to offset expenses incurred by a FORCED govt shutdown.  Most of the PPP loans were used to support payroll so people wouldn't be laid off while they were unable to go to work because of said forced shutdown.  And a much smaller portion was allowed to go to fixed business expenses.

No one made any profit on PPP loans, except maybe the banks got a little for processing the paperwork.

posted by gut

Exactly.  Laughable how people just regurgitate talking points without any independent thought.

PPP loans were designed to offset expenses incurred by a FORCED govt shutdown.  Most of the PPP loans were used to support payroll so people wouldn't be laid off while they were unable to go to work because of said forced shutdown.  And a much smaller portion was allowed to go to fixed business expenses.

No one made any profit on PPP loans, except maybe the banks got a little for processing the paperwork.

very little went to workers from what i saw...even if that is a bad example..people dont seem to mind trump filing bankruptcy 6 times and will wear his flag all around town but get pissed because the little guy gets a crumb.  billionaires skirt tax laws and pay very little tax and you cheer as if somehow that is a win for you, but lose it when the common man which most on here are gets a break. its still very stupid to be against working people getting a break.

posted by geeblock

im also enjoying watching people rail about this on twitter then go to the comments and someone has a screenshot of their forgiven PPP loan of over 500k

Not remotely close to being the same; not even in the same universe. 

posted by geeblock

I dont know what it is this year but wasnt it like 3600 per kid during covid?

Well you said 10s of 1000s. Since 10s is plural thar is >$20,000/year or a minimum of 6 or 7 kids.

Hope you weren’t serious   

posted by iclfan2

PPP was known to be forgivable up front. PPP was an answer to fix something the government fucked up. PPP was passed by Congress. But otherwise totes the same. 

PPP was essentially returning taxes to the entities that had paid the taxes to begin with, after the government shut down many of their businesses.  

This is not even remotely close to forcing certain people to pay for other peoples' contractual debt obligations.  

To even begin to try to entangle the two is an indication of sheer ignorance combined with Marxist tendencies.

posted by jmog

Well you said 10s of 1000s. Since 10s is plural thar is >$20,000/year or a minimum of 6 or 7 kids.

Hope you weren’t serious   

i meant in the 10 thousand or above per year for 18-20  years

posted by QuakerOats

PPP was essentially returning taxes to the entities that had paid the taxes to begin with, after the government shut down many of their businesses.  

This is not even remotely close to forcing certain people to pay for other peoples' contractual debt obligations.  

To even begin to try to entangle the two is an indication of sheer ignorance combined with Marxist tendencies.

we just gave a 2 trillion dollar cut to the rich and 80 billion to the ukraine..im quite sure we can spare it

posted by geeblock

we just gave a 2 trillion dollar cut to the rich and 80 billion to the ukraine..im quite sure we can spare it

WTF are you talking about 

posted by QuakerOats

WTF are you talking about 

tax cuts and jobs act?  last week we sent another 80 billion to the ukraine?

posted by geeblock

very little went to workers from what i saw...

Aren't you a teacher?  I don't think you saw because you didn't know or understand where to look.

I think at least 60%, if not 80%, had to be used for payroll.  And it was capped at @ $20k per worker, I believe, over about 6 months.

So in some cases it may not have been enough.  But if you think business owners were just pocketing this like a free handout then I don't know what to tell you.

posted by geeblock

billionaires skirt tax laws and pay very little tax and you cheer as if somehow that is a win for you.

I don't think I've ever cheered billionaires skirting tax laws.

Rather, I understand that taxes trickle down.  So I bitch about the droll stupidity of "fair share" because I understand raising taxes on the rich necessarily lowers my future earnings potential.  You're on the public dole so you don't see or understand that.

posted by gut

I don't think I've ever cheered billionaires skirting tax laws.

Rather, I understand that taxes trickle down.  So I bitch about the droll stupidity of "fair share" because I understand raising taxes on the rich necessarily lowers my future earnings potential.  You're on the public dole so you don't see or understand that.

lol "trickle down"  biggest scam ever created and still people keep waiting

posted by gut

Aren't you a teacher?  I don't think you saw because you didn't know or understand where to look.

I think at least 60%, if not 80%, had to be used for payroll.  And it was capped at @ $20k per worker, I believe, over about 6 months.

So in some cases it may not have been enough.  But if you think business owners were just pocketing this like a free handout then I don't know what to tell you.

very little oversight was done from what i see but i wasnt talking about ppp with this comment. when i referenced billionaires pocketing money i was talking about the 1.9 trillion tax and jobs act that was in like 2018 or 19

posted by geeblock

very little oversight was done from what i see but i wasnt talking about ppp with this comment. when i referenced billionaires pocketing money i was talking about the 1.9 trillion tax and jobs act that was in like 2018 or 19

I don't think your anecdotal observations are relevant.  Probably a lot of PPP money found its way to where it wasn't intended.  Just like a lot of this loan money will.  What seems to obvious is that this just incents colleges to continue raising tuition in a vacuum.  I guess places like Ohio State can continue to hire armies of lawyers and other administrators to copyright words for merchandise sales.