I borrowed $40k for my education. Over 20 years I repaid $75k. Had the repayment plan Biden tried to do in 2021 not been shot down by the Supreme Court, I would have had $20k knocked off my balance, which means I would have still repaid a lot more than I had borrowed.
Why should the government be making money by charging interest on student loans? Plumbers wouldn’t have paid for the repayment, instead it would have been my interest payments paying for it. And the plumber would still be getting an extra $15k out of me in excessive payments that I’ve had to make.
gregorum@lemm.ee 2 months ago
Then why are conservatives so ardent about spending on tax cuts for the rich if they’re so concerned about debt?
And why does the concern about debt only come up when spending on people other than the rich, who don’t pay their fair share of taxes in the first place?
jimbolauski@lemm.ee 2 months ago
The government should be better stewards of the money they’ve confiscated from their citizens.
While the loan companies took advantage of students by charging high interest rates on loans that must be paid back. It’s not the government’s job to reward the loan companies by paying the loans or the students who accepted those terms.
gregorum@lemm.ee 2 months ago
The money was not confiscated. It was legally collected. If you don’t like that, contact her congressperson and vote in November. That is your recourse.
And while, yes, those loan companies should be paid back, it is not your role, alone, to determine what the government’s job is. It’s all of us together, who say that. And you get as much of a vote as anyone else. That’s democracy.
The thing is, that it benefits all of us as a society to forgive that debt, so that those people are free to spend money on products and services and pay their taxes. That benefits, the economy, which helps everybody. But here you are, selfishly only thinking of yourself. In doing so, you ignore the benefits you would receive, if the student loan was forgiven for these other people. For some reason, you foolishly think that helping these other people hurt you in someway. It doesn’t.
jimbolauski@lemm.ee 2 months ago
I dont think you know what confiscated means, taking something from someone against their will illegally is called theft, taking something from someone legally is called confiscation.
It’s not Biden’s role to determine this either, the courts have all ready told him what he’s doing is illegal.
Money is not created with this move, the same amount of money will be in the economy either way, other things go unfunded to pay irresponsible people’s debts.
intensely_human@lemm.ee 2 months ago
I upvoted your comment until I read your last sentence. Next time try skipping that part.
gregorum@lemm.ee 2 months ago
Congratulations on almost contributing to the conversation
wintermute_oregon@lemm.ee 2 months ago
Considering the rich pay the most taxes. Why shouldn’t they get a cut?
The rich do pay their fair share as I’ve cited many times. I talk about spending cuts all the time.
gregorum@lemm.ee 2 months ago
Not only do the rich, not fathom as taxes, they definitely shouldn’t get a tax cut because they clearly benefit the most from the system and allowing them to earn the most.
And you certainly haven’t cited anything with regards to your claims with me.
wintermute_oregon@lemm.ee 2 months ago
As measured of their total income. I’d like to see a cite otherwise. 50% of tax payers don’t even pay taxes. The top 5% pays around 90%
I’ve cited numerous times on here. I can cite again if you really think everyone else is paying more taxes.