Canceling student loans

[B-Man]

 

 

 

America Isn’t Responsible For My Student Loans. I Am

BY: SHAWN FLEETWOOD

 

https://thefederalist.com/2022/04/29/america-isnt-responsible-for-my-student-loans-i-am/?fbclid=IwAR05doVJHqaxwijHEiAR6nWVy4b5XF2cuVW-9VbcJ_n5yD8ptbOKSJ-fEeA

 

 

 

[Doc]

35 minutes ago, B-Man said:

America Isn’t Responsible For My Student Loans. I Am

BY: SHAWN FLEETWOOD

 

https://thefederalist.com/2022/04/29/america-isnt-responsible-for-my-student-loans-i-am/?fbclid=IwAR05doVJHqaxwijHEiAR6nWVy4b5XF2cuVW-9VbcJ_n5yD8ptbOKSJ-fEeA

 

Someone in the vast minority.

[aristocrat]

 

[gobills404]

4 hours ago, BillStime said:

👀👀👀👀😂😂😂😂

 

 

 

a rare W from the Biden administration

[Doc Brown]

3 hours ago, gobills404 said:

a rare W from the Biden administration

It's a weird argument as the whole reason for PPP loans was to try and keep businesses afloat when they shut the country down due to Covid.  They didn't have a choice while student loan borrowers did.  They're basically grasping at straws making that argument.

[BillStime]

26 minutes ago, Doc Brown said:

It's a weird argument as the whole reason for PPP loans was to try and keep businesses afloat when they shut the country down due to Covid.  They didn't have a choice while student loan borrowers did.  They're basically grasping at straws making that argument.

That’s BS - the $2.2 TRILLION DOLLAR Cares Act was signed into law on March 27, 2020.

 

MAGA tells us Trump had the BEST economy EVER and just a couple months into a proclaimed PANDEMIC Trump initiated one of the the largest transfer of wealth in our lifetime.

 

Trumps BEST economy crumpled in record time, eh?

 

Funny how no one in the cult is screaming for audits and where OUR tax payer dollars went.

 

Meanwhile - the government throws pennies to the peasants and the right wing crime syndicate and media have their SIMPs (lmao) lined up ready to go to attack their fellow peasants.

 

f’n idiots 

 

 

[Doc Brown]

55 minutes ago, BillStime said:

That’s BS - the $2.2 TRILLION DOLLAR Cares Act was signed into law on March 27, 2020.

 

MAGA tells us Trump had the BEST economy EVER and just a couple months into a proclaimed PANDEMIC Trump initiated one of the the largest transfer of wealth in our lifetime.

 

Trumps BEST economy crumpled in record time, eh?

 

Funny how no one in the cult is screaming for audits and where OUR tax payer dollars went.

 

Meanwhile - the government throws pennies to the peasants and the right wing crime syndicate and media have their SIMPs (lmao) lined up ready to go to attack their fellow peasants.

 

f’n idiots 

 

 

Glad you brought up a piece of legislation passed through Congress and not through an executive order.  Again, PPP loans were only offered because the government shut down the country and in the legislation there were conditions laid out that if met would lead to loan forgiveness.  A lot different than choosing to take out a student loan.

 

I didn't vote for Trump and never will.  There's a lot of swing voters (not MAGA cult people) who look at this student debt forgiveness and realize what it is.  A regressive transfer of wealth and a slap in the face to those who sacrificed to pay off their student loans who now feel like suckers.  It's even worse in that it's a one time payment that does nothing to address the underlying problem.

[BillStime]

7 minutes ago, Doc Brown said:

Glad you brought up a piece of legislation passed through Congress and not through an executive order.  Again, PPP loans were only offered because the government shut down the country and in the legislation there were conditions laid out that if met would lead to loan forgiveness.  A lot different than choosing to take out a student loan.

 

I didn't vote for Trump and never will.  There's a lot of swing voters (not MAGA cult people) who look at this student debt forgiveness and realize what it is.  A regressive transfer of wealth and a slap in the face to those who sacrificed to pay off their student loans who now feel like suckers.  It's even worse in that it's a one time payment that does nothing to address the underlying problem.

A lot of swing voters voted for Biden knowing student loan relief was a campaign promise that Joe delivered on…

 

But keep crying about the peasants getting minimal relief while the rich and famous have their loans forgave.

 

smfh

 

 

 

 

[Orlando Buffalo]

Liberalism at its finest, we caused the problem by ensuring that everyone can get a loan whether they can pay it back or not, then tell them their bad decisions should not hurt them. I tell my kids every year that college is an investment, too many kids see it a way to party only 

[All_Pro_Bills]

42 minutes ago, Buffalo Timmy said:

Liberalism at its finest, we caused the problem by ensuring that everyone can get a loan whether they can pay it back or not, then tell them their bad decisions should not hurt them. I tell my kids every year that college is an investment, too many kids see it a way to party only 

I think its called moral hazard.

 

What I'm most curious about is under what statute or law does King Joe have the authority through executive order or royal edict to cancel or modify the terms and conditions of loans and other financial agreements that are governed under contract law between and among individuals and institutions?  If its government money under what authorized budget line are the funds to be dispersed from or to?  I won't be surprised to see lawsuits filed by taxpayer advocacy groups.  Why can't he help us all out?  Cancel home mortgage debt, cancel credit card debt, cancel personal debt.  Or send us all a check for $10,000.  If you're being true to the ideal, stop preaching about equality and start demonstrating it. 

Edited August 26, 2022 by All_Pro_Bills

[BillStime]

 

[ALF]

20 hours ago, Chef Jim said:

 

Hey do me a big favor and explain what this means

 

Share of benefit from TCJA individual income tax provisions in 2018, by expanded cash income level (2017 dollars) 

 

Once you explain it tell me how those numbers were calculated.

 

Aaaaaaaand GO!!

 

I have no idea , on financial matters I just agree with BillStime 🙂

[Tenhigh]

2 hours ago, BillStime said:

A lot of swing voters voted for Biden knowing student loan relief was a campaign promise that Joe delivered on…

 

But keep crying about the peasants getting minimal relief while the rich and famous have their loans forgave.

 

smfh

 

 

 

 

 

17 minutes ago, BillStime said:

 

 It's really weird ho hard you are working to miss the point here, but Billsy gonna Billsy.

[BillStime]

2 minutes ago, Tenhigh said:

 

 It's really weird ho hard you are working to miss the point here, but Billsy gonna Billsy.

Oh please elaborate - lmao

[BillStime]

 

[All_Pro_Bills]

3 hours ago, BillStime said:

That’s BS - the $2.2 TRILLION DOLLAR Cares Act was signed into law on March 27, 2020.

 

MAGA tells us Trump had the BEST economy EVER and just a couple months into a proclaimed PANDEMIC Trump initiated one of the the largest transfer of wealth in our lifetime.

 

Trumps BEST economy crumpled in record time, eh?

 

Funny how no one in the cult is screaming for audits and where OUR tax payer dollars went.

 

Meanwhile - the government throws pennies to the peasants and the right wing crime syndicate and media have their SIMPs (lmao) lined up ready to go to attack their fellow peasants.

 

f’n idiots 

 

 

I think a lot of people are just opposed to the government throwing pennies at anybody, public or private groups, individuals, corporations, etc.  And they want nothing more than the government to get out of the income redistribution and social engineering racket.  Especially those middle class and working citizens that for some odd and peculiar reason always seem to be on the "giving" end of the arrangement no matter who "gets". 

[BillStime]

3 minutes ago, All_Pro_Bills said:

I think a lot of people are just opposed to the government throwing pennies at anybody, public or private groups, individuals, corporations, etc.  And they want nothing more than the government to get out of the income redistribution and social engineering racket.  Especially those middle class and working citizens that for some odd and peculiar reason always seem to be on the "giving" end of the arrangement no matter who "gets". 

I totally agree… it’s just the hypocrisy of the right passing laws that forgive PPP loans for the rich and connected and inciting contempt for any relief for actual tax payers in this country. 
 

Really no different than the Pegulas - billionaires - getting a huge handout from the state for our new stadium. No one here is crying about that 

 

 

[leh-nerd skin-erd]

2 hours ago, Doc Brown said:

Glad you brought up a piece of legislation passed through Congress and not through an executive order.  Again, PPP loans were only offered because the government shut down the country and in the legislation there were conditions laid out that if met would lead to loan forgiveness.  A lot different than choosing to take out a student loan.

 

I didn't vote for Trump and never will.  There's a lot of swing voters (not MAGA cult people) who look at this student debt forgiveness and realize what it is.  A regressive transfer of wealth and a slap in the face to those who sacrificed to pay off their student loans who now feel like suckers.  It's even worse in that it's a one time payment that does nothing to address the underlying problem.

To reimagine the PPP program as similar to Student Loan forgiveness under the Biden proposal requires both a manipulator, and someone easily manipulated.  It would be interesting to engage in dialogue with a manipulator, sadly all we have here are the dupes who are easily manipulated. 
 

You hit key points about the government locking down the economy under threat of criminal and civil penalty, and the havoc that created for most businesses and employees not given special dispensation to thrive.  
 

The PPP program was designed to keep people working, or at least keep paychecks moving to the masses.  
 

To qualify, a business owner filled out an application and provided documentation to support the request.  If approved, a loan was offered based on need and payment disbursed. 
 

If, after meeting the terms and conditions of the program, the business owner met the requirements of PPP, the loan converted to a grant.  
 

If terms and conditions were not met, the loan did not convert and as I recall, repayment was due within 12 months.  
 

The most vital element of the program was keeping employees employed while the govt kept society and the economy locked down. Failure to do so resulted in repayment terms that might be considered predatory if offered by a private bank. 
 

So, successful navigation of the PPP landscape required strict compliance with term and payments as dictated by the government.  
 

Student loan forgiveness, for better or worse, approve of it or not, invalidates terms and conditions of the loan based on the political whims of the party in charge to the level the debt is discharged.  
 

In what can only be described as a tragically ironic scenario, individuals who made their student loan payments during the COVID lockdown may not actually have benefited from the PPP program, and those benefiting from PPP may actually have allowed their student loan debt to grow in anticipation of the Biden buy out. 
 

 

[Tenhigh]

29 minutes ago, BillStime said:

Oh please elaborate - lmao

SuperMAGA Alf already explained it to you, but your head is so deep in the sand that you didn't get it.  

[Chef Jim]

42 minutes ago, ALF said:

 

I have no idea , on financial matters I just agree with BillStime 🙂

So you agree with something you don’t understand. 🙄

 

Let me ask you.  Only 15% of the tax cuts went to people making $75k or less. What percentage of the federal taxes collected come from that group of people?

 

I’ll save you the trouble.  It’s a lot less than 15% so they came out ahead.  So here’s a tip.  Think before you agree with Billy Boy ok.