discussion WSJ argues student debt cancelation is bad as it will ruin military enlistment

[slik]

All these posts 'they knew what they were doing'

 

Can't roll my eyes enough...In the U.S. you are considered mature and wise enough at age 17/18 to sign up for something that will equate to tens of thousands of dollars of debt but not allowed to consume alcohol until you are 21 because you aren't mature and wise enough to understand the consequences of drinking and how it might affect your behavior. Alrighty....

 

 

Edited April 14, 2022 by slik

[Bloo]

7 minutes ago, Dephira said:

Biden's free community college plan has been axed.

There's actually an interesting reason why. Tying into my post above, 4-year universities were threatened by a free community college plan and I think there were fears that it would make it more difficult for 4-year public colleges and universities to recruit students to meet enrollment thresholds if community colleges were free alternatives. Based on what I know of the college tuition issue, this makes sense.

 

The best solution would be to make public community colleges and 4-year institutions tuition-free and funded on tax dollars. But, anytime funding 4-year tuition schools is mentioned, it's always deflected as a problem of "paying for Donald Trump's kids to go to school". This is a silly, inflammatory, and unserious talking point. Donald Trump's kids are grown (except for Barron) and aren't representative of the vast majority of students in the country. But I think the fact that's a common talking point shows how vapid their opposition is.

[Cruel Summer]

I’m seriously surprised anyone thinks that those of us who want total debt forgiveness wouldn’t also want completely tuition-free public college  like yes leftists want that, that’s how you prevent having to do debt forgiveness all over again in 20 years

[Communion]

2 hours ago, Dephira said:

Yes, compared to the right-wing, leftists in the USA are all for free college. But at the end of the day, Sanders isn't president and Biden's free community college plan has been axed. As far as I'm aware there isn't a serious policy or law underway that would enable free college, while student loan forgiveness is still actively talked about. 

...because, again, forgiving student debt can be done via executive order right now, while tuition-free college would require legislation. I get what you're trying to criticize, but those criticisms only make sense aimed at the moderate Dems who are against Free College for All, who also largely are against Student Debt Forgiveness, despite both being supported by a majority of American voters.

 

Again, Bernie re-introduced College For All Act last year, though we don't actually know how many Dems are willing to put their name on either policy since Dem leadership in both chambers refuse to put either to a vote. 

Edited April 14, 2022 by Communion

[byzantium]

6 hours ago, Communion said:

 

https://www.congress.gov/bill/117th-congress/house-bill/2730/all-info#:~:text=Introduced in House (04%2F21%2F2021)&text=This bill establishes measures to,assist students from disadvantaged backgrounds.

 

The idea of free college was one of the pillars of the sole leftist presidential campaigns of the last 8 years? A lot of Democrats don't support free college sure, but those are conservative Democrats. 

 

Leftists are...the only people in US politics (at the public servant level) to support free college, which is sad since most Americans support it. 

I'm not saying we don't support free college.  I am saying we seem to be advocating more for debt relief.  That just seems a little like having the wagon come before the horse.  

Edited April 15, 2022 by byzantium

[byzantium]

3 hours ago, Communion said:

because, again, forgiving student debt can be done via executive order right now, while tuition-free college would require legislation.

If student debt was forgiven instantly, everyone would have to report that as income on their taxes.  So if someone making $50,000 a year has $100,000 of debt forgiven, they would have $150,000 of taxable income and owe over $30,000 of state and federal taxes.  The net result is many people would need to take out a loan to pay off taxes on debt forgiveness.  

Changing this law would require legislation.  

[Communion]

11 minutes ago, byzantium said:

If student debt was forgiven instantly, everyone would have to report that as income on their taxes. 

Congress already passed an amendment within one of the rounds of COVID legislation - the American Rescue Plan - that had made any student debt forgiven by the federal government from 2021 until 01/01/26 exempt from being counted as taxable income. All forgiven student debt is already currently tax-free. This was also in addition to making it so non-payment months during the federal loan freeze counted to one's payment schedule and for total payments made for public service student loan forgiveness programs (where payments for newly eligible people were also made retroactive).

 

These movements for public service are good, but they still amount to about only 1%~ of all student debt. Biden could do away with another 90% of this debt via executive order, especially given the tools Congress already gave him.

Edited April 15, 2022 by Communion

[Antonini]

Honestly after the insurrection having absolutely NO consequences, right wing capitalist feel like there will never be any consequences and so dont care about "appearances" and are now just saying all this **** out in the open. Vile. But this will all be centrists' fault. 

[Bethenny Frankel]

idk why so many people are against debt cancellation? I won't have any student loans, but I'd want other people to not have to pay them off.

[fountain]

I can’t even remotely see how that is supposed to be a bad thing. Young people having options and believing they can do more with their lives than just go into the army… how terrible! Society is so brainwashed it is unreal. 

[Armani?]

On 4/14/2022 at 1:47 PM, Zombie said:

I'm against it too. Pay tf up. They knew what they were doing when they took that debt to enroll. These people don’t wanna take responsibility for their actions.

You know they cant because jobs aren't paying enough 

[Communion]

21 hours ago, Communion said:

Congress already passed an amendment within one of the rounds of COVID legislation - the American Rescue Plan - that had made any student debt forgiven by the federal government from 2021 until 01/01/26 exempt from being counted as taxable income. All forgiven student debt is already currently tax-free. This was also in addition to making it so non-payment months during the federal loan freeze counted to one's payment schedule and for total payments made for public service student loan forgiveness programs (where payments for newly eligible people were also made retroactive).

 

These movements for public service are good, but they still amount to about only 1%~ of all student debt. Biden could do away with another 90% of this debt via executive order, especially given the tools Congress already gave him.

Since the user never responded, it feels appropriate to cap it off by reminding anyone reading that:

• Biden has full authority to cancel all federally-held student debt
• Congress has already freed him from the burdens of debt forgiveness being taxable
• It's legally understood that the next president can't just 'put back' debt already forgiven
• And that there's no legal pathway to sue to block such forgiveness because no one has such standing