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Joe Biden on the campaign trail: "If you like your health care plan, ..." Login/Join 
Member
Picture of bigdeal
posted Hide Post
quote:
Originally posted by chellim1:
Does Joe Biden have a magic wand?
Nope. That would be his shriveled wanker in his wand.
quote:
Does he have unilateral power to "forgive" student loans?
No he does not. But that hasn't stopped him and his criminal administration from doing whatever the hell they want to do.
quote:
What does "forgive" really mean?
It means, as you and most here know, that the college debt of mostly wealthy, liberal voting, young morons will be passed from them to the middle class, many of which couldn't go to college. It also is throwing more fuel on inflation which will further damage the middle class folks who will now shoulder this debt. Sure sounds equitable to me. Roll Eyes Mad

There has never been a more blatant, obvious, and disgusting attempt at vote buying just prior to an election than this BS. May every single person who voted for this rancid POS burn in hell forever for what they've done to this country.


-----------------------------
Guns are awesome because they shoot solid lead freedom. Every man should have several guns. And several dogs, because a man with a cat is a woman. Kurt Schlichter
 
Posts: 33845 | Location: Orlando, FL | Registered: April 30, 2006Reply With QuoteReport This Post
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Picture of Ironbutt
posted Hide Post
The ONLY fair way is that people who didn't take out a loan, or those who paid off their loans, don't end up paying for loans of others.


------------------------------------------------

"It's hard to imagine a more stupid or dangerous way of making decisions, than by putting those decisions in the hands of people who pay no price for being wrong."
Thomas Sowell
 
Posts: 2048 | Location: PA | Registered: September 01, 2013Reply With QuoteReport This Post
Tinker Sailor Soldier Pie
Picture of Balzé Halzé
posted Hide Post
quote:
Originally posted by chellim1:
quote:
If I loan you money and you don't pay it back, I paid the debt.

That's all well and good if the lender can afford to absorb the loss. He essentially makes a gift.
But if the lender is bankrupted by the loan... is it really paid?

“There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt”


You're missing my point. The debt in the end is always paid. It doesn't just go away. "Making it a gift" still pays off the debt. The lender in this case is the American taxpayers.

**********

Son of a bitch! Mad

Biden announces student loan handout as national debt soars

Biden will cancel up to $20,000 in student loan debt for certain Pell Grant recipients

https://www.foxnews.com/politi...-national-debt-soars


~Alan

Acta Non Verba
NRA Life Member (Patron)
God, Family, Guns, Country

Men will fight and die to protect women... because women protect everything else. ~Andrew Klavan

"Once there was only dark. If you ask me, light is winning." ~Rust Cohle
 
Posts: 30297 | Location: Elv. 7,000 feet, Utah | Registered: October 29, 2012Reply With QuoteReport This Post
Lawyers, Guns
and Money
Picture of chellim1
posted Hide Post
quote:
The lender in this case is the American taxpayers.

And if America itself is destroyed by the debt?


If you owe the bank $100 that's your problem. If you owe the bank $100 million, that's the bank's problem.
-- J. Paul Getty



"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible."
-- Justice Janice Rogers Brown

"The United States government is the largest criminal enterprise on earth."
-rduckwor
 
Posts: 23945 | Location: St. Louis, MO | Registered: April 03, 2009Reply With QuoteReport This Post
Legalize the Constitution
Picture of TMats
posted Hide Post
When I think of giving money to some pink-haired, face pierced, idiot with a student loan for a Gender Studies degree, I just get angrier. How did you THINK you were going to earn money for your student loan. BTW, I’m just as angry with colleges that have degree programs like that.


_______________________________________________________
despite them
 
Posts: 13166 | Location: Wyoming | Registered: January 10, 2008Reply With QuoteReport This Post
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posted Hide Post
Is the forgiveness of this student loan a taxable event?
 
Posts: 17177 | Location: Stuck at home | Registered: January 02, 2015Reply With QuoteReport This Post
wishing we
were congress
posted Hide Post
https://hotair.com/jazz-shaw/2...ss-briefings-n491877

White House Press Secretary Karine Jean-Pierre has not held an on-the-record press briefing since August 9 . . . and nobody in the White House press corps or general public seems to be all that bothered by that. (Apparently democracy dies in darkness, unless it’s August vacation season.) The lack of complaints probably says something about the news value of these briefings, where Jean-Pierre contends the U.S. economy is stronger than ever, that the U.S. Supreme Court took an “unconstitutional action” by overturning Roe v. Wade, and that she has a hard time keeping up with Biden’s boundless energy level and stamina.
 
Posts: 19504 | Registered: July 21, 2002Reply With QuoteReport This Post
Tinker Sailor Soldier Pie
Picture of Balzé Halzé
posted Hide Post
quote:
Originally posted by chellim1:

If you owe the bank $100 that's your problem. If you owe the bank $100 million, that's the bank's problem.
-- J. Paul Getty


Precisely. Again, the unpaid debt will always fall on someone.


~Alan

Acta Non Verba
NRA Life Member (Patron)
God, Family, Guns, Country

Men will fight and die to protect women... because women protect everything else. ~Andrew Klavan

"Once there was only dark. If you ask me, light is winning." ~Rust Cohle
 
Posts: 30297 | Location: Elv. 7,000 feet, Utah | Registered: October 29, 2012Reply With QuoteReport This Post
Gracie Allen is my
personal savior!
posted Hide Post
quote:
Originally posted by ZSMICHAEL:
Is the forgiveness of this student loan a taxable event?

Interesting. The IRS would consider it income in just about any other set of circumstances, wouldn't it? Unfortunately the taxes owed would still be just a portion of the debt forgiven - and how much money are people with degrees in underwater basket weaving making anyway?*

*Which, yes, was always the problem with these loan programs.
 
Posts: 27291 | Location: Deep in the heart of the brush country, and closing on that #&*%!?! roadrunner. Really. | Registered: February 05, 2008Reply With QuoteReport This Post
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Picture of Shaql
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People who accept debt forgiveness should have their credit trashed for 10 years.





Hedley Lamarr: Wait, wait, wait. I'm unarmed.
Bart: Alright, we'll settle this like men, with our fists.
Hedley Lamarr: Sorry, I just remembered . . . I am armed.
 
Posts: 6845 | Location: Atlanta | Registered: April 23, 2006Reply With QuoteReport This Post
wishing we
were congress
posted Hide Post


Debt forgiveness only applies to individuals earning less than $125,000 or couples filing joint earnings of $250,000.

The Wharton School of Economics estimates Biden’s plan will cost at least $300 billion.

https://www.breitbart.com/poli...ent-debt-per-person/

https://www.foxnews.com/politi...-national-debt-soars

The nation's federal student debt now tops $1.6 trillion after ballooning for years. More than 43 million Americans have federal student debt, with almost a third owing less than $10,000 and more than half owing less than $20,000

bribing voters before the mid terms
 
Posts: 19504 | Registered: July 21, 2002Reply With QuoteReport This Post
Lawyers, Guns
and Money
Picture of chellim1
posted Hide Post
I don’t think they care if it is legal or not… As long as the people who are having their loans forgiven don’t find out it’s a scam until after the election….

Clay Travis explained it: Everyone knows it’s unconstitutional, but it won’t be resolved until after the mid term elections. That accomplishes buying a lot of votes in the meantime. It will eventually get drug up to the Supreme Court before the next presidential election. When the Supreme Court shoots it down, the democrats will use that as ammunition for the presidential election, saying how terrible it is to have such a conservative court. It’s all just a political game because everyone knows something like this must be passed through congress.



"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible."
-- Justice Janice Rogers Brown

"The United States government is the largest criminal enterprise on earth."
-rduckwor
 
Posts: 23945 | Location: St. Louis, MO | Registered: April 03, 2009Reply With QuoteReport This Post
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posted Hide Post
Why the Pell Grant thing?
 
Posts: 766 | Location: Southeast Tennessee | Registered: September 30, 2008Reply With QuoteReport This Post
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Per the WSJ and other sources, 15 million of the 42 million people with student loans (more than 1/3) owe less than $10,000. The idea that a sub-$10,000 debt paid over 20 years is "crushing" is absurd, especially if you make $100,000 per year.

If there is a problem with the student loan system it is that the government's debt guarantee decouples the cost of a degree from its earning power. Stop guaranteeing student loans so the market can set the cost - this will create well informed consumers and drastically lower the number of useless degrees (and faculty teaching toward them). If you wipe out your loans in bankruptcy you also have to surrender your degree.
 
Posts: 988 | Location: Tampa | Registered: July 27, 2010Reply With QuoteReport This Post
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posted Hide Post
At the present time you cannot use bankrupcy to get rid of student loans.

Jim
 
Posts: 1338 | Location: Northern Michigan | Registered: September 08, 2008Reply With QuoteReport This Post
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Joepeddo likes to disparage his “Republican colleagues” who voted for tax cuts, yet are against these deadbeat bailouts. Yeah, shithead, because letting people keep their own money is a lot different than bailing out French art history majors that won’t pay back their loans they fully agreed to.

I went to the site he referenced just for the hell of it and it just sits there trying to load. It would be a real shame if nobody is able to get in.


-------------------------------
Inside every progressive is a totalitarian screaming to get out.
- David Horowitz
 
Posts: 5149 | Location: WI | Registered: July 02, 2006Reply With QuoteReport This Post
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posted Hide Post
quote:
Originally posted by Pal:
At the present time you cannot use bankrupcy to get rid of student loans.

Jim


You are correct, and that would have to end if the government's guarantee of student loans ended.
 
Posts: 988 | Location: Tampa | Registered: July 27, 2010Reply With QuoteReport This Post
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posted Hide Post
quote:
Originally posted by BMR:
Joepeddo likes to disparage his “Republican colleagues” who voted for tax cuts, yet are against these deadbeat bailouts. Yeah, shithead, because letting people keep their own money is a lot different than bailing out French art history majors that won’t pay their loans that they fully agreed to pay.


That's only part of the equation - he is also bailing out borrowers who owe very little and/or are perfectly capable of paying their loans. I'd venture to guess that those people outnumber those who borrowed $250,000 for a master's degree in 17th century women's studies 20:1. The plan's one size fits all approach shows it for what it is - largesse masquerading as salvation.
 
Posts: 988 | Location: Tampa | Registered: July 27, 2010Reply With QuoteReport This Post
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quote:
The nation's federal student debt now tops $1.6 trillion after ballooning for years. More than 43 million Americans have federal student debt, with almost a third owing less than $10,000 and more than half owing less than $20,000


How many of these people drive nice, newer cars that they magically can afford? I'm driving a 20 year Honda and never had student loan debt.


P229
 
Posts: 3808 | Location: Sacramento, CA | Registered: November 21, 2008Reply With QuoteReport This Post
Vote the
BASTIDS OUT!
Picture of yanici
posted Hide Post
How about the guy I just saw on Twitter. He was a disabled vet. He got his student loan pay by having two legs blown off.


John

"Building a wall will violate the rights of millions of illegals." [Nancy Pelosi]
 
Posts: 2401 | Location: N.E. Massachusetts | Registered: June 05, 2009Reply With QuoteReport This Post
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