That didn’t stop them from deputizing every anti-choice dickhead in Texas to sue women they don’t even fucking know.
Will millionaires with low income receive debt forgiveness?
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Yup. Hey, Tom Brady, down to his last quarter billion, poor guy, was able to take out a million dollar PPP loan and bought a yacht.
More seriously, yes, these are the kinds of problems that need to be hashed out. On that note, what about the parents who sacrificed so their kids would have less or no debt? If the answer is “seething resentment” say “Hello President DeSantis.”
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I’m in no way at all a Fauxgressive or a Bro, but I’d almost rather be did nothing and keep this issue of of the news than to do so little. It barely scratches the surface on my loan and it barely glances at the loans of people in their 20s and 30s. This is not going to go over well with the young people we need to turnout in November.
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There’s going to be some pissed off Dems who spent a fortune on education to “make it” who aren’t going to see any relief at all. Biden’s talk around student loan forgiveness has always been problematic to me -
I guess it will be great for these young people when later in life they are making $150k or above and have no student loan debt that ballooned with interest as they worked to “make it” in their late 40s or 50s (and are now trying to plan for retirement). Those that are in that boat now can just pay taxes at the highest tax rates and smile because of the greater good.
Let’s see how that works out. (Yep, I’m one of them if that isn’t obvious- and I’m pissed)
Edit - I’m also trying to get my 4 kids through college without them having any debt
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Biden can only do so much because he can only affect federal loans. Federal loans at least have income-driven repayment plans. While there are definite issues with federal loans (the interest rate, for starters), the real killer for most people are the private loans with very unfavorable terms and even worse interest rates than the federal loans.
Biden also can’t make states fund their universities like they once did.
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Go for $20K Joe!!
Surprise folks, that’s a good attention getter!!!
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Lower the interest to 2% and credit accounts with overpaid interest. Don’t waive principle. Those who paid will expect vouchers. Borrowers are drowning in compounded interest. Fix that.
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Yes! The Fauxgressives are so predictable at this point that I’m actually tempted to wonder if they’re not paid agitators for the GQP.
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I know that student loan debt forgiven under PSLF is exempt from taxes now. Not sure about the 2026 deadline, but that sounds believeable.
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So…crabs in a bucket? “I didn’t get Nice Thing, ergo it is wrong and bad that other people get Nice Thing!!!”
You paid off your debt? Good for you! You get the Superior Virtue and Work Ethic badge! You have to pay taxes as a “penalty” for your all your (superior) hard work? Vote for Republicans! Also, move to a red state without a state income tax.
Your kids are going to have college debt in their turn? College is optional. Or at the very least, your kids should be going to trade schools or serving apprenticeships of some sort in “real” skills like welding or plumbing, so they’ll be in a position to pay back those loans pretty quickly.
Also, you chose to have four kids and are whining about how hard life is to pay for their educations? Just…what did you think was going to happen? That your fellow taxpayers–also groaning under the burden the government places on successful people–will pay even higher taxes to support their college education?
Also, how will any of those children learn about Grit and Superior Virtue if they don’t pay off those loans without any help from anyone else–like you did? You should be encouraging them to pay for college themselves, and when they graduate with crushing loans, you can piously lecture them about how you did it All On Your Own.
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**
Every single person with student debt complaining that 10k in relief is not enough should have their designated 10k reallocated to a no college laborer. Let's see how pointless and useless and offensive 10k in free cash is when it goes to someone who actually needs it.
— Penelope.
(@pennysaidwhat) May 27, 2022
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Young people will get pissy because only a fraction of their loan is forgiven, so they won’t vote?
But they will vote if Biden says, “Never mind, everyone just buckle down and get a second job!”?
That’s a problem with a chunk of the allegedly-Democratic electorate in a nutshell, isn’t it? “I didn’t get exactly what I wanted, so nobody else gets anything at all!”
Maybe Biden should make it so that people like you also have the option to turn down the payment: it won’t make a difference for you, but that’s more money back in the pot to help someone else for whom $10,000 will make a big difference.
For the record, I, too, have student loans, and I suspect that I won’t get a dime because they’re from graduate school. You know what? I actually have no problem if other people get forgiveness I do not, just as I don’t begrudge people getting any kind of social aid that I cannot (foot stamps, et al).
In many ways it will be such a relief when the country returns to its pre-WWII reality that a university education was meant only for the rich or those members of the middle class talented enough to get scholarships. That way, people grappling with student debt won’t be in a position to feel resentment towards future college grads, and those grads, in their turn, won’t be entering the work world with a huge debt on their shoulders.
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You left out (6) make future generations more inclined to take on debt they can’t afford to pay off, because if it got cancelled once then maybe it’ll get cancelled again.
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I’s hard to argue with selfishness. The worst part to me, is that the Fauxgressives love to claim that they fight for the Little People, right up to the point where the benighted might get Shiny Nice Thing that they themselves cannot.
The fact that this line of thinking aligns nicely with Republicanism makes me wonder why these people bother to be Democrats?
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Yes, although they are rarely of the Little People themselves. Years ago I concluded this branch has a death wish: losing is preferred; all the better to stay pure. Then there’s the entitlement.
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I’d be happy if they just permanently removed the interest.
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Depends. Are we applying loan forgiveness equally, or making it an entitlement? Either way, enough people are going to be so outraged that they’ll boycott the elections, or something equally stupid.
Nose chopping: not just for Republicans anymore!
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Exhibit A: 1968
Exhibit B: 2000
Exhibit C: 2016
Then there’s complete idiotic posturing, the definition of performative virtue-signaling, like Defund the Police; or The Squad voting against the Infrastructure Bill, because perfect enemy of good. The examples seem innumerable.
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It’s a start. Now, Mr. Biden, let’s legalize marijuana and release federal non-violent offenders.