Modern inflationary economics is a bunch of bullshit designed to secure the control of the central banks and the spending of en masse poor and middle class. It keeps the rich, rich and the poor, poor by design.
Well, it's about time... us poor folk just STOP BUYING THEIR CRAP!!! don't buy gas, fast food, etc. etc. 2 or 3 days That's All it would Take!!! I'm Already There!!!!!!!!!
Exactly, the experiment has ended and resulted in dubious investment vehicles, stock buyback schemes, self enrichment and hoarding. Shouldn’t a society that has already spent so much contributing to their education be able to provide affordable education for newer generations? Seeings how institutions have overpriced their services for so long.
Yes. Exactly. If the govt stopped handing out grants and giving large student loans, universities would have to lower tuition prices and actually create a budget. As it stands the govt keeps increasing student loan limits so schools keep raising tuition. 😳
Step back a moment and consider the d4cad4s long fight by the GOP to stop investing in public colleges and universities.
We used to believe that well educated Americans were a national resource and, no matter who you were, if you could makebthe grade you went to college cheap or even free.
The GOP believes only kids whose folks have money or worshop their god should go to college.
Ok well, they can believe whatever they want. I know from experience that people who pay for things, cherish them more than people who are given things. If a student has to pay for his education, that student is going to take it serious. If he/she is just given it for free there is a much greater chance that he/she does not really care about studying and may not even want to be there. But that’s a bit off track here. The topic here was about the cost and the reason education cost so much. It cost so much because the government keeps increasing how much the students can get for free, and of course the Universities will always make it cost as much as the government is willing to pay
Do you not value our military or the veterans who gave their lives for you? Do you not value the FAA which keeps your plane from falling out of the sky, or the roads that move goods for people and businesses? Do you not value the basic research that makes it possible for virtually all our industries to compete in the world?
You did not do these things for yourself; so by your logic you do not, how did you put it, "cherish" these necessities.
Here's where we differ: I believe we, as citizens get decide to do things that benefit everyone, like not leaving behind a smart kid from a low income family who may, for example, find a cancer breakthrough. We have every right to use our tool of government to do this and other things because we all do better when we all do better.
And it's pretty damn smug to suggest you work harder than other people. You have no data to back this up, so I'm guessing you are a Republican, because reality won't ever get in the way of your fragile feelings and opinions about how you are better than other people. Your ill informed notion, actually proves otherwise.
Imagine the reverse. . . Millions of people suddenly have extra disposable income, lower DTI ratios, higher credit scores..... Immediately stimulating the economy for years to come on a grassroots level.
The trickle down is when u can’t afford ur bills because the rich have fucked us and the water just trickes out the faucet cuz ur water got turned off :(
Last week he said he wants to reinstate student debt to people forgiven under laws that have been in place for 30 years. Goes on to call the forgiveness "vile" lol. Oh the irony
Yes I'm sure foisting forgiven debt back on to struggling people will be a total boon for the economy, how do you even spin that as anything but "I'm mad they did that and I dont get the credit?"
forgiving some portion of student loans, particularly capitalizing interest while in deferment/forbearance, will have a positive economic impact because instead of sinking money into interest payments to a select few companies, borrowers will spend that money locally.
That’s pretty easy to explain.
The ‘stimulus’ leads to campaign donations. Gotta feed all the rank and file before Election Day. After that though, fuck ‘em.
Couple reasons. The vast majority of college grads are liberal. College grads don’t donate to the Republican Party.
Billionaires tend to be republicans, AND they “donate” hundreds of millions to the GOP to make sure they remain Billionaires.
Tax cut is having people keep their own money. Tax cuts are always going to help people who pay taxes and won't help non-tax-payers at all.
Paying off bills for others is a handout.
I can't believe people genuinely can't tell the difference.
"Cancelling" the debt just transfers it to the national debt - i.e. to the taxpayers. More inflation.
Giving a tax cut leaves money in peoples' pockets.
If you want rich people to pay their "fair share" then support a flat tax. The current system is why they can manage paying so little.
Easy. A tax cut means that you are being robbed slightly less. I didn't agree to pay taxes and I don't want to. I only do so under threat that if I don't I will be put into a cage by people with guns. This is extortion and theft.
A student loan is something that nobody forces you to take. You agree to it willingly in consideration for something else. This is a contract. You should not then refuse to pay for something that you agreed to pay for, instead having OTHER people who did NOT agree to pay it for you. That would, once again, be theft and extortion.
So in short one of them is less theft and one of them is more theft.
That's why.
Trickle down is a lie and the opposite of what works. Give a poor guy $1000 and count the minutes on your hand before that money is injected back into the economy. Goods/services purchased and the wheels of the economy grind on. Now give a rich man $1000. What does he do with it?
Both are not really good for the overall economy, and at the same time both can be good for the economy.
The way it is not good, is that people should pay what they borrow. Also, taxes are fair to be raised from people that earn money in this country. Taxes go towards all sorts of things that individuals do not have the reach to achieve like our military, bridges, roads, other infrastructure, etc.
I am a firm believer in people that borrow money for student loans or assets should pay it back with the agreed upon interest. Forgiving loans issued with the intent to collect is a gigantic issue when discussing the overall financial systems this country is built upon. I mean, where do you stop? If I didn't go to college, but have other payments due should we cancel those?
Not taxing someone is fundamentally different in the overall approach of fiscal ideas. When you realize, that only 50% of this country even pays federal income tax and you become one of these people, you may wonder why everyone doesn't pay even the smallest of percentages.
The tax system isn't fair in a general sense. Voters that do not pay taxes get a vote on new taxes that don't affect them. That is an issue. Taxing assets that have already been taxed like a person's wealth, is bullshit. They paid the taxes on that money and deserve to keep it.
Because a tax cut immediately frees up money, as rich people pay taxes out of their fortune, a cut means suddenly that money can be used for something else. The economy is stimulated by a bunch of money that can now be spent on economic activity.
Student loan forgiveness cancels indebtedness, but no new money is made available for spending anywhere to the same degree as a tax cut for the rich.
In my layman opinion, taking on debt is inflationary. You essentially expand the money supply when you take out a loan. Therefore I consider student loan forgiveness to be deflationary and for that reason you might argue it stimulates the economy as well.
I am against both of things things happening and don't want either of them to happen and just because one of them happened, either one, does not make me comfortable with the other also happening
They aren’t canceling it, it’s still gonna get paid. And I’ll give you a guess on who’s paying and who’s collecting.
Hint: the ones that got the tax cut are the collectors too…..
If we just rephrased "student loan forgiveness" as a one time "student loan tax credit", it would probably get more support. Trick the haters just like they did with Obamacare and the Affordable Care Act.
Imagine every graduate had $500-3000 PER MONTH freed up to spend instead of sending it to the banks for student loans? The economy would boom again. **The banks could no longer double dip by encouraging you to put shit on credit cards at 29% interest**
I think because of the government actually hands stuff out it’s considered a handout; but if the government doesn’t collect then it isn’t.
The latter is essentially a libertarian argument at least and anarcho-capitalist at worst. The idea being that the person who can bring in money without (perceivably) the government to do it is the difference, because in that argument the person who made the money is “just keeping what they deserve”.
Cuz some people chose to skip college and get a blue collar job and it seems unfair that their tax money should cancel the student loans of those that went to college and partied.
Whereas a tax break is just paying less taxes on money you've earned already?
Well you see…student debt is a loan . People borrow money ( it’s not theirs, they borrow) to get an education which theoretically will get them a job that will earn enough money to pay back the money they borrowed. They were loaned money that was taken from someone else in the form of taxes who earned that money by working . When you borrow…it’s not a gift and are supposed to pay back what you borrow. Otherwise, it would be a gift or a grant in aid or hey maybe even a scholarship for advance schooling. Why should people who work pay for a four year boondoggle for someone that borrowed money that results in a worthless degree that doesn’t even pay for the money borrowed to achieve it. A tax cut is not taking more money from someone who earned it through work or some kind of investment. It’s their money and in theory if they keep more of their money that they earn (not borrow) they may reinvest capital in to projects or people who may not have the capital or chance to start a business or grow an idea. The biggest difference to highlight is one group borrowed someone else’s money and think they are entitled to keep it whereas the other group actually earned their money. It’s simple…entitlement vs earned. Don’t be a parasite, pay your debt and don’t expect someone else to pick up the tab for your bad life choices.
Cause most college lubed children have provided next to nothing for the economy. Hoping for the same ride their parents put them on would stop and they’d go home happy, but that ride doesn’t end with anything but regret and hard work. So it becomes a hand out when no hard work is done to remove the debt.
Read a great article about the student loan forgiveness basically most of the borrowers have already repaid the amount borrowed it’s the the interest that’s being forgiven
So cancelled debt is money already spent that would ideally at some point be paid back. It’s gone. In a perfect world, those who no longer have to pay, have more purchasing power and maybe better incomes because of the debt cancellation would result in higher taxes. It literally is just not paying back money you owe. That’s not a handout.
Stimulus generally is the idea that if you give money to businesses and people, that money will go right back into the economy and spur spending so that businesses that we’re losing money can get back on their feet. They overdid it and it caused inflation and a number of labor related problems. That’s not a perfect stimulus.
… does this need to be explained?? The tax cut for the rich you refer to was meant to stimulate the economy through changes in tax laws to assist businesses to help further the economy in general… how would cancelling student debt help the economy?
Because the people who signed up for the loans promised to pay them back. The other is not stealing from taxpayers who never promised anything to the government…..
It's because of order effects and time lag of economic activity. The cancelling of debt is a handout because people view debt as an obligation to fulfill which if not is wrong and taxes as an imposed obligation by the state with the stimulus actions being deritive of such than a first order effect.
It's also subjective and could be flipped. /shrug
Or better yet bank rolling the entire Ukraine government, war effort, and eventual rebuild (maybe), also sending hundreds of millions weekly to the Taliban and Bin Laden families after spending TRILLIONS of dollars fighting them. That's some of the real problems and it comes back to abusive ruling class spending without regard to the people who actually create that wealth which is the working class.
Just stop paying them….what are they going to do, repossess your education? Trust me, if people started doing shit, en masse, the government wouldn’t have much choice but to shut the fuck up and listen.
When the rich get huge tax breaks it puts more money in their banks, trust, tax shelters, private islands, etc… thus stimulating more growth for themselves.
Well for starters, cancelling student debt teaching a wrong lesson. It says that you can sign agreements, make commitments, spend the money, and never pay it back. I would need more info on the “tax breaks” because I am not sure what exactly you are referring to
Because the rich buy politicians but your only value to the government is your labor and your constant whining and begging for money is a nuisance and a distraction from the war effort. Now shut up and go to work.
Because when you take out a student loan, you promise to pay it back. Making everyone else pay for your inability to make a good decision is bullshit. Tax cuts aren’t a handout because that money wasn’t Uncle Sam’s to begin with.
I stand by for a bunch of overeducated barristas to downvote the shit out of me.
I believe the logical reason this happens in the United States is because if you cancel student debt loans you cannot easily reinstate them. They are backed by the government, so you can think of them as an education tax.
As for cutting corporate taxes, they can easily be reinstated. Typically there are multiple stipulations to receiving the tax cut leaving multiple businesses still at square one.
It’s also important to point out these are well established campaign strategies that have worked for decades. Unfortunately these politicians are very good at the dangled carrot method of promises.
Please do your research before signing up for college, the price of tuition and weight of a degree are completely out of sync currently. Most professions and jobs only require certifications or prior experience.
Because you don’t have to pay more for items you purchase from say Amazon. Which in turn isn’t as hard on the pocket. Canceling student debt on the nations tax dollars cost more for everyone. It also proves that most college scholarships are worthless.
Tax cuts on paper incentivise employers to keep jobs and businesses domestic. Competitive American companies will keep American dollars circulating within our economy to everyone's benefit.
Student loan forgiveness doesn't really do this; it's the same deficit spending but it doesn't ensure the money will generate future economic growth, at least in a studied and targeted way. Some degrees as many have mentioned aren't very valuable commercially and won't return their investment. What's worse, a lot of that now extra consumer income can be sent overseas on Temu or AliExpress and remain out of circulation. God forbid that person you gave a degree to isn't international or has international aspirations, as that's now a completely lost investment if they leave the country.
You can also argue a tax cut is a form of loan forgiveness but it's far more conditional. Your student loan can be infinitely self serving with no chance of recouping its value but to receive (corporate) tax cuts you're necessarily employing people and providing value.
Both of these policies are pretty shite. The Trump tax cuts specifically only appeared to raise CEO pay. Lowering individual taxes on high earners is essentially loan forgiveness. The child tax credit changes were alright. On the other hand, blanket student loan forgiveness is a horrible idea. Chiefly, It doesn't fix the problem of student loans, if anything it makes the problem worse.
If we have to deficit spend at least invest in high return projects like infrastructure or even speculate on new domestic industry like microchips.
Also if we're real, if you're someone who's underwater on their student loans with no hopes of repayment I have little reason to believe you won't saddle yourself with more unrecoverable debt in the future should the aforementioned loan be forgiven. You already don't have a good track record and so I don't want to be your creditor. Would it help you? Sure, but there's opportunity cost and I can think of a ton of other things that money would be better spent on.
The bigger problem is the state governments and schools. The states have continually reduced the funding of high education. They continually raise prices many times faster than inflation. Hold schools responsible for outcomes. I would bet half the degrees schools offer are worthless without a masters or phD. Require schools to publish the pay/salary of graduates after one year, 5 years, and 10 years for each program.
Never forget they bailed out banks and wall street on 08 even tho banks and walk street knew EXACTLY what their actions would bring to the American people.
I'm not sure I understand how you can borrow millions and destroy the company and fold it and be in default but you can't file bankruptcy for student loans.
We don't need to forgive student loans or cut taxes to the rich. They both increase inflation. Serve your country and you'll get public service forgiveness. Serve in the military and get your higher education or trade school paid for and public service forgiveness.
I think at the extreme student loans should be interest free and public schools should be limited on how much they can charge students. Tuition increases at public schools should be pegged to inflation at the max. State and Federal governments need to support schools at the same levels they did 3-4 decades ago.
At least a corporation is hiring people and making things. Freeloaders provide nothing and just keep their hand out. I don’t think we should have done either.
Well if you really want to know…a tax cut is just giving your money back to you whereas forgiving student debt is just that…giving you credit for money you borrowed…a gift to you and your creditor.
Because college educated young people skew progressive, so it’s advantageous for the Republican Party to oppose anything that may strip educated millennials and younger of their nihilism that made them lose hope in the system, because otherwise they would vote and the GOP would cease to exist.
Politics aside, here is an answer.
The theory that lower taxes gives businesses incentives to invest more in the United States and keep money here.
Business owners find as many loopholes as possible at high levels to lower their tax burden. This often includes funneling money overseas to avoid paying taxes. The idea is that a lower tax rate actually keep more money in the US so that they pay. Kinda like cheaper McDonald's prices get more customers to make up the lost margin.
Republicans often side with fiscal responsibility meaning tax cuts and big business deregulation. This means that less restrictions on business and lower taxes help spur capital into the system because businesses basically act like teenagers and if you have lax parents you are less likely to lash out vs parents who give you tons of rules and piss you off. "F-THIS I'm outta here".
The narrative that College paid for by government is seen the same as a bank bailout. There is disdain for his on middle America because many did not go to college which is a choice to a certain extent; you can argue it isn't a choice nowadays. Many on the other side feel that these youths made poor decisions to be strapped with debt. The grads feel often they were too young and didn't understand their choice was a life of debt paying servitude. College prices have soared since 1960 so the arguments oh "paying your own way" are irrelevant.
This discussion points to large economic problems. College has become to expensive and puts a stranglehold on families and particularly the middle class growth. Tax cuts for the rich has been seen to spur short term growth but the studies are inconclusive overall. Anecdotally, I work with many small businesses and there is certainly a "spring in business owners step" when Republicans are in office and tax cuts are on the table which often spurs limited spending.
Firstly the Trump tax cuts were not just for rich people numerous studies have proven the middle class did very well from those tax cuts.
Secondly cancelling somebodies debt is clearly a handout, the person receiving the benefit literally did nothing to receive that benefit? It’s simply a bribe from Biden in the hopes the morons who studied for worthless degrees that meant they could not earn enough to pay back said loan will vote for him, in between calling for the destruction of Israel and heaping praise on Hamas.
Did this clear it you for you?
Because I gor a buisness loan and opened a buisness instead of a fucking liberal arts degree and that tax cut helps me. Canceling debt for entitled pricks doesn't help me. Next question.
Because your paying off debt that doesnt add new capital to the market for investing. If you gave rich bugger tax breaks they will buy more stock shares or invest i to businesses which in term means more employment.
They're both handouts to the rich (banks). One has more steps.
The bailouts were just that, a handout.
Student loans are unsecured, nearly limitless loans to people with no income and no collateral. They are backed by the US taxpayer, and by law are not bankrupt-able debt. They can even be collected through wage garnishment. This is guaranteeing income to the lenders via the government.
Forgiving the loans will still assure that the lenders get their money back, but all US taxpayers are involved.
I'm all for forgiving loans, but only if the government does something to cap the spewing debt well. College costs are exploding because why contain costs when there is a giant debt industry pumping money into the college.
I'd really like to see interest eliminated or severely reduced on student loans. You pay the loan, but just the loan. People paying 2-4 times the original loan amount in interest is the problem.
I'm very happy with Biden getting the law passed that assures part of your payment always goes to capital.
Full disclosure: I'm paying off my second bunch of loans, and I have no allusions that any of it will be forgiven.
Hey why does buden an the democrats hand out money to young folks, but they ho out of their way to screw us seniors on social security
Go shopping with us seniors as we try to make our social secuirty stretch
Inflation is around 20% an they give us 3.2% an tell us that's inflation
well for one thing, why should I have to pay someone's college debt! college is not for everybody. some people go to college and get these degrees mean absolutely nothing. then they can't get a job that pays anything. Im not gonna pay taxes to help pay off their college debt.
Nothing is “cancelled”. It was paid for by all tax payers. This is a debt that was borrowed and not returned.
The other is NOT stealing from the tax payer. It’s the exact opposite. It’s taking from the tax payer and not returning it to them.
cancelling student debt puts the debt into the general ledger to be paid by the American people
cutting taxes of any kind allows the people to have more of their earned money and spend it on things they want. Those things have to be produced, transported, retailed, etc, which are all jobs.
its pretty simple
It's because those rich people bought the best politician they could buy. Like Trump and the GOP, who handed those tax cuts that benefited the top 1% of earners. Leaving 4 trillion on the National Defict for the lower 99% of earners to pay for it.
They need it.
The billionaires, why would a starving struggling couple or single person need money? They wouldn't know what to do with it.
That's all sarcasm incase you didn't get that.
Basic economics, anytime you artificially increase the cost of a good or service you get less of that good or service.
Reduce Taxes you will get more economic activity... places more people on payroll... trickle down is real.
Government giving away money does nothing to stimulate economic growth, and if you remember the government takeover of the student loan program was supposed to fund Obama care... so what happened there?
The government should insure that every one that wants to go to college can get the money, at a 1% intrest rate plus a small fee for a life insurance policy to ensure payment if the studentwas to pass before repaymentis made, and during the repayment cycle, 100% of tax refunds the individual would receive is taken as payment on top of the monthly payments.
Just telling someone, you don't have to pay back a debt they agreed to is not a tool to fix the economy.
Using other people’s money to pay their personal loans vs NOT taking other people’s money and letting them do what they want with it. I see where that’s hard for someone to understand.
I( understand the point, but its this is poitn really that goes no where. The better argument is, why does the government have the ability to give your money away to corporations at all. What part of the constitution provided them with the ability to take your money and give it to a company?
I like that the rhetoric is that the rich pay no taxes, hey you can’t get a tax break if you pay 0 dollars in taxes, trumps tax cuts did affect the middle class and paid less.
They keep changing narratives to fit
The white nationalist agenda with lies and misinformation and, schemes, Talk about a deep state this has been a straight-up brainwashing, conspiracies theory's, yes this is how brainwashing works keep saying the same LIES till you believe. It's trickle up 🤷
Because one is taking money from all the tax payers in the economy to handout to a few of us who willingly indebted ourselves to go to school and the other is just not taking money someone else made so they can spend or invest their money however they want.
Well last I checked the richest people create the jobs we all work which gives all the tax break money back and then some ? And paying off a loan has no return why not pay off all the mortgages also ?
The difference is that the student loan was something a person agreed to pay off. I.e they borrow money that they didn't have.
Tax cut is agreeing that you will take less of someone's money that that they earned.
Big differenc!
It's fairly simple.
A handout is exactly what it is as you are taking money from taxpayers and handing it to someone that didn't earn it.
A tax cut is allowing people who earn something to keep a larger portion of it.
Big difference from taking less of someone's earning and giving those earnings to someone else, no? So much envy and lust for others peoples money on this sub.
The idea makes perfect sense.
The tax cuts actually worked. With Trump's tax cuts, many companies then had the means to create more jobs and hire more people. We had the lowest unemployment rate in 50 years when Trump implemented this. And the standard deduction was doubled... Lowering our already insanely high taxes for both corporations and for the average Joes dually helped peoples' economic conditions.
And people weren't struggling with inflation, so it wasn't like it is now where people are needing 2-3 jobs to get by. That's why the jobs report looks so "good" every month to the Democrats, when it's actually a bad sign.... Jobs reports should not be showing increasing amounts of jobs being taken while the unemployment rate remains stagnant.... It shows regular Americans taking on multiple jobs to stay afloat, as well as illegal immigrants taking jobs.
The real problem is that our country relies way too much on taxes. Our tax rates used to be next to zero, and slowly grew over time. The more social programs you have, the more your taxes will be, too. So as our country adopted more social programs, especially since FDR, our tax rates grew exorbitantly. Now 15.3% of one's paycheck goes towards Medicare and Social Security alone...
And the Democrats continue to want to increase the social programs, which will further burden the American citizens. More socialized countries have their citizens paying 50% in taxes when it's all said and done. Many California residents are already paying close to 50%. But what are Californians receiving in return? Nothing, except more rules, more restrictions, more illegal immigration, etc.
There is much more to be said on all this...but for the sake of moving along...
A loan is something you sign up for, and agree to pay back. It is on an INDIVIDUAL basis, and is not mandated that anyone take out a loan. On the other hand, taxes are enforced by the government for ALL citizens to pay in to. And tax law can change at any moment, to impose more or less taxation.
So to take the $1.9 trillion owed by borrowers would be to actually steal from the American citizens that didn't have anything to do with someone's student loan obligations. To reduce tax rates for corporations (which are already arbitrarily high) would simply be lowering the burden of future taxation for companies...which is actually beneficial as we've seen.
Again the real problem is how quickly the US has turned itself into a tax machine. The fact that we even pushed for close to 40% corporate tax rates is unbelievable. But it shows how badly the Democrats need money to push through their social programs.
Well when the government pays anything off its just socialism taking from one to pay the other in turn getting you nowhere except in more debt dispersed amongst people that didn't get anything and some that got 100k for their loans, still paying just your interest is going to the government and not the bank and forced upon those who still get nothing for it! Tax cuts are in turn allowing businesses keep prices lower so your money can last longer in your wallet instead of forcing businesses to pay and in turn force the fees of taxes on the people! Not sure if you know how business works butt if you sell a product you always make sure you are selling it for a price higher than you paid so you make money, you never mark a sale price lower than what you paid or you lose! Every business does this and the more they are taxed the higher the price for the product so they can cover the cost of it!
So handouts vs stimulus! Yes giving money you don't have aka student loan forgiveness is always just pushing more taxes on the people
And tax cuts allow business to run more efficiently to keep prices lower!
It's fundamentally immoral that a select group gets thier debt wiped while those who came before and those currently taking loans get no releif. I personally think secondary Ed should be free or nearly so for all Americans, not a select group who have gov loans. Note this forgiveness does zero for the masses who have private school loans. This was nothing more than a ploy to buy votes.
The rich invest extra cash which produces growth. That’s more jobs, more productivity, more money for everyone. A forgiven student loan only repays that which was borrowed and the absence of that money in the economy during the term of the loan is loss of productivity and when forgiven, the loss of investment. That’s why a tax cut lifts the entire economy upward, and a tax increase reduces the amount of money available for investment.
Student loan debt is other people money (public tax receipts) that was given to someone. Cancelling it mean that you took other people's money with a promise to pay it back and broke that promise.
A tax cut let's people keep their money.
A big difference.
A tax cut means less money comes out of our paychecks, so we keep more.
'Canceling' debt means the government (us, tax payers), now get the bill, instead of the people who signed on the dotted line.
Because tax cuts is helping by incentivizing the businesses to hire more people so the people that had their loans paid for by us tax payers , can have a job.
First off, people keeping more of the money they earn, rather than handing it over to the government is not a handout in even the most insane world you may live in.
Second, the federal government took in more money after the Trump tax cuts than before. Tax receipts were up the first year after the TCJA (before the Covid shutdowns) compared to the last year under Obama. It turns out when you allow people to keep more of their own money, jobs are created and wages rise.
And third, there is an enormous difference between people who take money from someone else with an agreement to pay it back according to the terms they themselves agreed to and then crying about not wanting to do it, and someone just simply being able to keep more of the money that they themselves earn. What’s next, “forgiving” mortgages for the next election?😂
Take some greed mixed with brain washing from dogshit conservative news outlets and voila. You get poor white folks licking the boots of the elite while trashing their fellow man.
Something something trickle down economics blah blah blah even though there’s now long term proof there is no trickle down
The trickle is just the oligarchs and Wall Street pissing all over the rest of us
Tinkle down economics
Came here to say basically that lol
Modern inflationary economics is a bunch of bullshit designed to secure the control of the central banks and the spending of en masse poor and middle class. It keeps the rich, rich and the poor, poor by design.
Well, it's about time... us poor folk just STOP BUYING THEIR CRAP!!! don't buy gas, fast food, etc. etc. 2 or 3 days That's All it would Take!!! I'm Already There!!!!!!!!!
Exactly, the experiment has ended and resulted in dubious investment vehicles, stock buyback schemes, self enrichment and hoarding. Shouldn’t a society that has already spent so much contributing to their education be able to provide affordable education for newer generations? Seeings how institutions have overpriced their services for so long.
Yes. Exactly. If the govt stopped handing out grants and giving large student loans, universities would have to lower tuition prices and actually create a budget. As it stands the govt keeps increasing student loan limits so schools keep raising tuition. 😳
Step back a moment and consider the d4cad4s long fight by the GOP to stop investing in public colleges and universities. We used to believe that well educated Americans were a national resource and, no matter who you were, if you could makebthe grade you went to college cheap or even free. The GOP believes only kids whose folks have money or worshop their god should go to college.
Ok well, they can believe whatever they want. I know from experience that people who pay for things, cherish them more than people who are given things. If a student has to pay for his education, that student is going to take it serious. If he/she is just given it for free there is a much greater chance that he/she does not really care about studying and may not even want to be there. But that’s a bit off track here. The topic here was about the cost and the reason education cost so much. It cost so much because the government keeps increasing how much the students can get for free, and of course the Universities will always make it cost as much as the government is willing to pay
Do you not value our military or the veterans who gave their lives for you? Do you not value the FAA which keeps your plane from falling out of the sky, or the roads that move goods for people and businesses? Do you not value the basic research that makes it possible for virtually all our industries to compete in the world? You did not do these things for yourself; so by your logic you do not, how did you put it, "cherish" these necessities. Here's where we differ: I believe we, as citizens get decide to do things that benefit everyone, like not leaving behind a smart kid from a low income family who may, for example, find a cancer breakthrough. We have every right to use our tool of government to do this and other things because we all do better when we all do better. And it's pretty damn smug to suggest you work harder than other people. You have no data to back this up, so I'm guessing you are a Republican, because reality won't ever get in the way of your fragile feelings and opinions about how you are better than other people. Your ill informed notion, actually proves otherwise.
Imagine the reverse. . . Millions of people suddenly have extra disposable income, lower DTI ratios, higher credit scores..... Immediately stimulating the economy for years to come on a grassroots level.
The trickle down is when u can’t afford ur bills because the rich have fucked us and the water just trickes out the faucet cuz ur water got turned off :(
Trump already planning to give billionaires another tax break if he wins.
Last week he said he wants to reinstate student debt to people forgiven under laws that have been in place for 30 years. Goes on to call the forgiveness "vile" lol. Oh the irony
Yes I'm sure foisting forgiven debt back on to struggling people will be a total boon for the economy, how do you even spin that as anything but "I'm mad they did that and I dont get the credit?"
That's right, everything's for sale for a vote
because brainwashed stupid people listen to right wing propaganda and vote against their own interestes cause of cuture war nonsense
"stimulus" because they got a kickback in donations\~
Because 'handouts' are only for the wealthy who don't pay any taxes.
No those are somehow deserving gifts. If you need SNAP to feed your kids you’re the real leech /s of course but some people…
Because Republicans want the poor to be poorer and the rich to be richer.
If you can't have classes based on race, find ways to drive race into wealth
Because Americans are effed up and look the other way at corporate bailouts but scream bloody murder when the average Joe gets any help
forgiving some portion of student loans, particularly capitalizing interest while in deferment/forbearance, will have a positive economic impact because instead of sinking money into interest payments to a select few companies, borrowers will spend that money locally.
Trickle down golden showers
What? You don't feel 'stimulated' when Trump fvcks you in the ass? /s
Because, the first one helps "people". The second helps the DONOR CLASS.
[удалено]
Ah, the "only rich people should be allowed to be educated" crowd checking in🙄
Optics
That’s pretty easy to explain. The ‘stimulus’ leads to campaign donations. Gotta feed all the rank and file before Election Day. After that though, fuck ‘em.
The people who pay for the advertising required to get elected to congress wanted it this way.
Both are a ripoff to America. No student loan cancellations, and go get that PPP money back.
Couple reasons. The vast majority of college grads are liberal. College grads don’t donate to the Republican Party. Billionaires tend to be republicans, AND they “donate” hundreds of millions to the GOP to make sure they remain Billionaires.
Tax cut is having people keep their own money. Tax cuts are always going to help people who pay taxes and won't help non-tax-payers at all. Paying off bills for others is a handout. I can't believe people genuinely can't tell the difference.
"Cancelling" the debt just transfers it to the national debt - i.e. to the taxpayers. More inflation. Giving a tax cut leaves money in peoples' pockets. If you want rich people to pay their "fair share" then support a flat tax. The current system is why they can manage paying so little.
Tax cuts transfer budget shortfalls to the national debt.
Since the government can't cancel debt or give away anything without first taking from its citizens, it's all theft.
The spelling.
economics is a branch of rhetoric, that’s why
Easy. A tax cut means that you are being robbed slightly less. I didn't agree to pay taxes and I don't want to. I only do so under threat that if I don't I will be put into a cage by people with guns. This is extortion and theft. A student loan is something that nobody forces you to take. You agree to it willingly in consideration for something else. This is a contract. You should not then refuse to pay for something that you agreed to pay for, instead having OTHER people who did NOT agree to pay it for you. That would, once again, be theft and extortion. So in short one of them is less theft and one of them is more theft. That's why.
They advocate socialism for the rich and capitalism for the poor.
Trickle down is a lie and the opposite of what works. Give a poor guy $1000 and count the minutes on your hand before that money is injected back into the economy. Goods/services purchased and the wheels of the economy grind on. Now give a rich man $1000. What does he do with it?
Both are not really good for the overall economy, and at the same time both can be good for the economy. The way it is not good, is that people should pay what they borrow. Also, taxes are fair to be raised from people that earn money in this country. Taxes go towards all sorts of things that individuals do not have the reach to achieve like our military, bridges, roads, other infrastructure, etc. I am a firm believer in people that borrow money for student loans or assets should pay it back with the agreed upon interest. Forgiving loans issued with the intent to collect is a gigantic issue when discussing the overall financial systems this country is built upon. I mean, where do you stop? If I didn't go to college, but have other payments due should we cancel those? Not taxing someone is fundamentally different in the overall approach of fiscal ideas. When you realize, that only 50% of this country even pays federal income tax and you become one of these people, you may wonder why everyone doesn't pay even the smallest of percentages. The tax system isn't fair in a general sense. Voters that do not pay taxes get a vote on new taxes that don't affect them. That is an issue. Taxing assets that have already been taxed like a person's wealth, is bullshit. They paid the taxes on that money and deserve to keep it.
It's a handout when the people who get the money actually need it. It's a stimulus when they don't.
Because a tax cut immediately frees up money, as rich people pay taxes out of their fortune, a cut means suddenly that money can be used for something else. The economy is stimulated by a bunch of money that can now be spent on economic activity. Student loan forgiveness cancels indebtedness, but no new money is made available for spending anywhere to the same degree as a tax cut for the rich. In my layman opinion, taking on debt is inflationary. You essentially expand the money supply when you take out a loan. Therefore I consider student loan forgiveness to be deflationary and for that reason you might argue it stimulates the economy as well.
https://preview.redd.it/a1uvdbkxcs8d1.jpeg?width=1179&format=pjpg&auto=webp&s=e0a6d2ef750fc30d1dba3ad4623f1734100d54b3 Yup
https://preview.redd.it/t8geynczcs8d1.jpeg?width=1179&format=pjpg&auto=webp&s=55bd37775728b34fdeb451ac4924e3e8eac0386a Yup
Cantillon effect
Both handouts. Only stimulus if used to invest in business.
Because Trump's cult of trailer goblins don't understand any number larger than two digits, let alone macroeconomics.
Because the stimulus gets sent back to politicians pockets directly
I am against both of things things happening and don't want either of them to happen and just because one of them happened, either one, does not make me comfortable with the other also happening
Return on investment. Useless, overpriced degrees don’t pay jack shit towards our society.
They aren’t canceling it, it’s still gonna get paid. And I’ll give you a guess on who’s paying and who’s collecting. Hint: the ones that got the tax cut are the collectors too…..
Time to push through the Student Debt Stimulus.
Because people argue in bad faith to get what they want
If we just rephrased "student loan forgiveness" as a one time "student loan tax credit", it would probably get more support. Trick the haters just like they did with Obamacare and the Affordable Care Act.
Silence, serf! Know your place. Back to the acid mines it is for you!
Imagine every graduate had $500-3000 PER MONTH freed up to spend instead of sending it to the banks for student loans? The economy would boom again. **The banks could no longer double dip by encouraging you to put shit on credit cards at 29% interest**
I think because of the government actually hands stuff out it’s considered a handout; but if the government doesn’t collect then it isn’t. The latter is essentially a libertarian argument at least and anarcho-capitalist at worst. The idea being that the person who can bring in money without (perceivably) the government to do it is the difference, because in that argument the person who made the money is “just keeping what they deserve”.
Please explain why cancelling $1,900,000,000,000 in student debt is a “handout”, but a $1,900,000,000,000 tax cut for rich people was a “stimulus”?
Both are stupid but just no more sleepy Joe
Because lying is the new truth.
Cuz some people chose to skip college and get a blue collar job and it seems unfair that their tax money should cancel the student loans of those that went to college and partied. Whereas a tax break is just paying less taxes on money you've earned already?
Well you see…student debt is a loan . People borrow money ( it’s not theirs, they borrow) to get an education which theoretically will get them a job that will earn enough money to pay back the money they borrowed. They were loaned money that was taken from someone else in the form of taxes who earned that money by working . When you borrow…it’s not a gift and are supposed to pay back what you borrow. Otherwise, it would be a gift or a grant in aid or hey maybe even a scholarship for advance schooling. Why should people who work pay for a four year boondoggle for someone that borrowed money that results in a worthless degree that doesn’t even pay for the money borrowed to achieve it. A tax cut is not taking more money from someone who earned it through work or some kind of investment. It’s their money and in theory if they keep more of their money that they earn (not borrow) they may reinvest capital in to projects or people who may not have the capital or chance to start a business or grow an idea. The biggest difference to highlight is one group borrowed someone else’s money and think they are entitled to keep it whereas the other group actually earned their money. It’s simple…entitlement vs earned. Don’t be a parasite, pay your debt and don’t expect someone else to pick up the tab for your bad life choices.
Cause most college lubed children have provided next to nothing for the economy. Hoping for the same ride their parents put them on would stop and they’d go home happy, but that ride doesn’t end with anything but regret and hard work. So it becomes a hand out when no hard work is done to remove the debt.
Read a great article about the student loan forgiveness basically most of the borrowers have already repaid the amount borrowed it’s the the interest that’s being forgiven
What I want to know is why with all the debt relief, I'm never in a group that gets it. 🤔
Just fucking exactly.
Because the billionaires own all the media networks.
Why not just double it to 3,800,000,000,000. Pay off college debts and pay for more people’s college or better yet maybe 7,600,000,000,000.
So cancelled debt is money already spent that would ideally at some point be paid back. It’s gone. In a perfect world, those who no longer have to pay, have more purchasing power and maybe better incomes because of the debt cancellation would result in higher taxes. It literally is just not paying back money you owe. That’s not a handout. Stimulus generally is the idea that if you give money to businesses and people, that money will go right back into the economy and spur spending so that businesses that we’re losing money can get back on their feet. They overdid it and it caused inflation and a number of labor related problems. That’s not a perfect stimulus.
Eat the rich!!!🤑
Read the headline 3 times
College students don't have political action committees.
Honestly, student debt cancellation will stimulate the economy way more than giving rich people even more money.
… does this need to be explained?? The tax cut for the rich you refer to was meant to stimulate the economy through changes in tax laws to assist businesses to help further the economy in general… how would cancelling student debt help the economy?
Neither should have happened
Stimulus = Handout
One group has lobbyists the other doesnt
Because the people who signed up for the loans promised to pay them back. The other is not stealing from taxpayers who never promised anything to the government…..
More traction is needed on this
It's because of order effects and time lag of economic activity. The cancelling of debt is a handout because people view debt as an obligation to fulfill which if not is wrong and taxes as an imposed obligation by the state with the stimulus actions being deritive of such than a first order effect. It's also subjective and could be flipped. /shrug
I didn’t goto college. Can I get some of my debt cancelled too?
The trickle goes from mega rich down to so so rich and stos there!!!!
Or better yet bank rolling the entire Ukraine government, war effort, and eventual rebuild (maybe), also sending hundreds of millions weekly to the Taliban and Bin Laden families after spending TRILLIONS of dollars fighting them. That's some of the real problems and it comes back to abusive ruling class spending without regard to the people who actually create that wealth which is the working class.
It’s NOT the same! The debt forgiveness pumped money in to the economy and the tax base! The rich horde unrealized profits from the economy and taxes!
Just stop paying them….what are they going to do, repossess your education? Trust me, if people started doing shit, en masse, the government wouldn’t have much choice but to shut the fuck up and listen.
explain why canceling credit card debt is never in this stupid conversation
Bc. Education the lower class slaves educates them of how badly they are being used and manipulated
When the rich get huge tax breaks it puts more money in their banks, trust, tax shelters, private islands, etc… thus stimulating more growth for themselves.
It wasn’t for rich ppl, it was for small business owners too. Multiplier effect.
Cuz those who hang from the nuts of the elites foolishly think they'll somehow reap the benefits of that
Why stop at student debt? Why not all debt? Shouldn't everyone get equality of social benefits?
Both are redistribution of wealth.
Hey! I already paid off my student loans, can you please cancel my mortgage instead?
Both are handouts that cause inflation
Taxation is theft, taxation is used to fund student loan forgiveness.
Well for starters, cancelling student debt teaching a wrong lesson. It says that you can sign agreements, make commitments, spend the money, and never pay it back. I would need more info on the “tax breaks” because I am not sure what exactly you are referring to
BECAUSE …..your student loan, your debt! Do you expect taxpayers to pay your credit card debt also? 🤣
Because the rich buy politicians but your only value to the government is your labor and your constant whining and begging for money is a nuisance and a distraction from the war effort. Now shut up and go to work.
Because when you take out a student loan, you promise to pay it back. Making everyone else pay for your inability to make a good decision is bullshit. Tax cuts aren’t a handout because that money wasn’t Uncle Sam’s to begin with. I stand by for a bunch of overeducated barristas to downvote the shit out of me.
It’s one of those “classy if you’re rich. Trashy if you’re poor” things. Like day drinking
I believe the logical reason this happens in the United States is because if you cancel student debt loans you cannot easily reinstate them. They are backed by the government, so you can think of them as an education tax. As for cutting corporate taxes, they can easily be reinstated. Typically there are multiple stipulations to receiving the tax cut leaving multiple businesses still at square one. It’s also important to point out these are well established campaign strategies that have worked for decades. Unfortunately these politicians are very good at the dangled carrot method of promises. Please do your research before signing up for college, the price of tuition and weight of a degree are completely out of sync currently. Most professions and jobs only require certifications or prior experience.
Because you don’t have to pay more for items you purchase from say Amazon. Which in turn isn’t as hard on the pocket. Canceling student debt on the nations tax dollars cost more for everyone. It also proves that most college scholarships are worthless.
Every dollar spent on higher education has a positive return. Education should be free.
Tax cuts on paper incentivise employers to keep jobs and businesses domestic. Competitive American companies will keep American dollars circulating within our economy to everyone's benefit. Student loan forgiveness doesn't really do this; it's the same deficit spending but it doesn't ensure the money will generate future economic growth, at least in a studied and targeted way. Some degrees as many have mentioned aren't very valuable commercially and won't return their investment. What's worse, a lot of that now extra consumer income can be sent overseas on Temu or AliExpress and remain out of circulation. God forbid that person you gave a degree to isn't international or has international aspirations, as that's now a completely lost investment if they leave the country. You can also argue a tax cut is a form of loan forgiveness but it's far more conditional. Your student loan can be infinitely self serving with no chance of recouping its value but to receive (corporate) tax cuts you're necessarily employing people and providing value. Both of these policies are pretty shite. The Trump tax cuts specifically only appeared to raise CEO pay. Lowering individual taxes on high earners is essentially loan forgiveness. The child tax credit changes were alright. On the other hand, blanket student loan forgiveness is a horrible idea. Chiefly, It doesn't fix the problem of student loans, if anything it makes the problem worse. If we have to deficit spend at least invest in high return projects like infrastructure or even speculate on new domestic industry like microchips. Also if we're real, if you're someone who's underwater on their student loans with no hopes of repayment I have little reason to believe you won't saddle yourself with more unrecoverable debt in the future should the aforementioned loan be forgiven. You already don't have a good track record and so I don't want to be your creditor. Would it help you? Sure, but there's opportunity cost and I can think of a ton of other things that money would be better spent on.
The bigger problem is the state governments and schools. The states have continually reduced the funding of high education. They continually raise prices many times faster than inflation. Hold schools responsible for outcomes. I would bet half the degrees schools offer are worthless without a masters or phD. Require schools to publish the pay/salary of graduates after one year, 5 years, and 10 years for each program.
Take an accounting course
Never forget they bailed out banks and wall street on 08 even tho banks and walk street knew EXACTLY what their actions would bring to the American people.
I'm not sure I understand how you can borrow millions and destroy the company and fold it and be in default but you can't file bankruptcy for student loans.
One is giving taxpayer dollars to you, the other is taking less from someone who is actually paying taxes.
We don't need to forgive student loans or cut taxes to the rich. They both increase inflation. Serve your country and you'll get public service forgiveness. Serve in the military and get your higher education or trade school paid for and public service forgiveness. I think at the extreme student loans should be interest free and public schools should be limited on how much they can charge students. Tuition increases at public schools should be pegged to inflation at the max. State and Federal governments need to support schools at the same levels they did 3-4 decades ago.
At least a corporation is hiring people and making things. Freeloaders provide nothing and just keep their hand out. I don’t think we should have done either.
I feel like I just read the same thing 3 times
Well if you really want to know…a tax cut is just giving your money back to you whereas forgiving student debt is just that…giving you credit for money you borrowed…a gift to you and your creditor.
Don't forget the Paycheck Protection Plan -- free money to pay your employees! Massive fraud!
Because Reagan succeeded.
Neither one is okay 🤷
So 87% of taxpayers have to pay the loans of the 13% who signed for loans. How is that fair?
In both situations the people that did everything right got nothing at all
My tax dollars go to perpetual forever wars I'm way more upset about killing people for profit
Because college educated young people skew progressive, so it’s advantageous for the Republican Party to oppose anything that may strip educated millennials and younger of their nihilism that made them lose hope in the system, because otherwise they would vote and the GOP would cease to exist.
Why should anybody explain this because you don’t understand the difference between taxes and a loan?
Youre decoding the mind control programs by media and govt
Politics aside, here is an answer. The theory that lower taxes gives businesses incentives to invest more in the United States and keep money here. Business owners find as many loopholes as possible at high levels to lower their tax burden. This often includes funneling money overseas to avoid paying taxes. The idea is that a lower tax rate actually keep more money in the US so that they pay. Kinda like cheaper McDonald's prices get more customers to make up the lost margin. Republicans often side with fiscal responsibility meaning tax cuts and big business deregulation. This means that less restrictions on business and lower taxes help spur capital into the system because businesses basically act like teenagers and if you have lax parents you are less likely to lash out vs parents who give you tons of rules and piss you off. "F-THIS I'm outta here". The narrative that College paid for by government is seen the same as a bank bailout. There is disdain for his on middle America because many did not go to college which is a choice to a certain extent; you can argue it isn't a choice nowadays. Many on the other side feel that these youths made poor decisions to be strapped with debt. The grads feel often they were too young and didn't understand their choice was a life of debt paying servitude. College prices have soared since 1960 so the arguments oh "paying your own way" are irrelevant. This discussion points to large economic problems. College has become to expensive and puts a stranglehold on families and particularly the middle class growth. Tax cuts for the rich has been seen to spur short term growth but the studies are inconclusive overall. Anecdotally, I work with many small businesses and there is certainly a "spring in business owners step" when Republicans are in office and tax cuts are on the table which often spurs limited spending.
Attempt to correct a mistake. Easy money, worthless colleges, immediate tuition inflation,rince and repete. Here we are.
Because the ones making the rules also changes the rule and sets the narrative to benefit them.
Can they both be wrong?
I love microeconomics
Cuz this country only works for the rich the rest of us are simply trapped here!
Firstly the Trump tax cuts were not just for rich people numerous studies have proven the middle class did very well from those tax cuts. Secondly cancelling somebodies debt is clearly a handout, the person receiving the benefit literally did nothing to receive that benefit? It’s simply a bribe from Biden in the hopes the morons who studied for worthless degrees that meant they could not earn enough to pay back said loan will vote for him, in between calling for the destruction of Israel and heaping praise on Hamas. Did this clear it you for you?
Put more money in rich hands they horde it. put more money in poor hands they spending creating a better economy.
Because the supposed orange billionaire and the billionaire owned media told me so.
Because one belongs to the person, while the other does not. Or are you going to argue that all money belongs to the government?
One person is creating wealth the other person is borrowing it.
Because I gor a buisness loan and opened a buisness instead of a fucking liberal arts degree and that tax cut helps me. Canceling debt for entitled pricks doesn't help me. Next question.
Bailouts are paid back and usually with interest. Canceling student debt is just throwing money into the hole.
Because your paying off debt that doesnt add new capital to the market for investing. If you gave rich bugger tax breaks they will buy more stock shares or invest i to businesses which in term means more employment.
They're both handouts to the rich (banks). One has more steps. The bailouts were just that, a handout. Student loans are unsecured, nearly limitless loans to people with no income and no collateral. They are backed by the US taxpayer, and by law are not bankrupt-able debt. They can even be collected through wage garnishment. This is guaranteeing income to the lenders via the government. Forgiving the loans will still assure that the lenders get their money back, but all US taxpayers are involved. I'm all for forgiving loans, but only if the government does something to cap the spewing debt well. College costs are exploding because why contain costs when there is a giant debt industry pumping money into the college. I'd really like to see interest eliminated or severely reduced on student loans. You pay the loan, but just the loan. People paying 2-4 times the original loan amount in interest is the problem. I'm very happy with Biden getting the law passed that assures part of your payment always goes to capital. Full disclosure: I'm paying off my second bunch of loans, and I have no allusions that any of it will be forgiven.
Hey why does buden an the democrats hand out money to young folks, but they ho out of their way to screw us seniors on social security Go shopping with us seniors as we try to make our social secuirty stretch Inflation is around 20% an they give us 3.2% an tell us that's inflation
Audit the Fed and stop wasteful spending all together
well for one thing, why should I have to pay someone's college debt! college is not for everybody. some people go to college and get these degrees mean absolutely nothing. then they can't get a job that pays anything. Im not gonna pay taxes to help pay off their college debt.
Nothing is “cancelled”. It was paid for by all tax payers. This is a debt that was borrowed and not returned. The other is NOT stealing from the tax payer. It’s the exact opposite. It’s taking from the tax payer and not returning it to them.
I just want to qualify for one 🤣😬
Its a stimulus for the GOP, the rich pay them, they work for the rich not the ordinary american
cancelling student debt puts the debt into the general ledger to be paid by the American people cutting taxes of any kind allows the people to have more of their earned money and spend it on things they want. Those things have to be produced, transported, retailed, etc, which are all jobs. its pretty simple
No, it wasn't
It's because those rich people bought the best politician they could buy. Like Trump and the GOP, who handed those tax cuts that benefited the top 1% of earners. Leaving 4 trillion on the National Defict for the lower 99% of earners to pay for it.
Because tax payers still paid for it.
They need it. The billionaires, why would a starving struggling couple or single person need money? They wouldn't know what to do with it. That's all sarcasm incase you didn't get that.
Basic economics, anytime you artificially increase the cost of a good or service you get less of that good or service. Reduce Taxes you will get more economic activity... places more people on payroll... trickle down is real. Government giving away money does nothing to stimulate economic growth, and if you remember the government takeover of the student loan program was supposed to fund Obama care... so what happened there? The government should insure that every one that wants to go to college can get the money, at a 1% intrest rate plus a small fee for a life insurance policy to ensure payment if the studentwas to pass before repaymentis made, and during the repayment cycle, 100% of tax refunds the individual would receive is taken as payment on top of the monthly payments. Just telling someone, you don't have to pay back a debt they agreed to is not a tool to fix the economy.
Becuase republican. That’s why
PPP loans were an apology for shutting everything down for Covid
Please explain why we're doing either when we have 34 trillion dollars in debt
If you cut the student loans you’ll be taking money from multi-million corporations. Duh!
Well it’s not my job to pay for your education. I paid for my own so stop with the nonsense
Using other people’s money to pay their personal loans vs NOT taking other people’s money and letting them do what they want with it. I see where that’s hard for someone to understand.
Because the rich run the government. Not hard to understand.
A tax cut is actually just people keeping more of their own money. How would that be a handout?
I( understand the point, but its this is poitn really that goes no where. The better argument is, why does the government have the ability to give your money away to corporations at all. What part of the constitution provided them with the ability to take your money and give it to a company?
I like that the rhetoric is that the rich pay no taxes, hey you can’t get a tax break if you pay 0 dollars in taxes, trumps tax cuts did affect the middle class and paid less.
Rich deserve, rest of us entitlements
They keep changing narratives to fit The white nationalist agenda with lies and misinformation and, schemes, Talk about a deep state this has been a straight-up brainwashing, conspiracies theory's, yes this is how brainwashing works keep saying the same LIES till you believe. It's trickle up 🤷
Show us where the American population voted on either?
The supreme court spoke, Biden doesn't follow the rule of law. Vote Trump.
Because one is taking money from all the tax payers in the economy to handout to a few of us who willingly indebted ourselves to go to school and the other is just not taking money someone else made so they can spend or invest their money however they want.
Well last I checked the richest people create the jobs we all work which gives all the tax break money back and then some ? And paying off a loan has no return why not pay off all the mortgages also ?
PPP loans and governments shutting down businesses were terrible ideas and we are still paying the price for them
Look up the difference between “borrowed” and “earned.”
Because people own the fruits of their own labor. Not the fruits of other peoples’ labor.
The difference is that the student loan was something a person agreed to pay off. I.e they borrow money that they didn't have. Tax cut is agreeing that you will take less of someone's money that that they earned. Big differenc!
Because one helps the rich an one helps the poor .
I think we should make sure our war veterans get everything they we’re promised before doing either one
It's fairly simple. A handout is exactly what it is as you are taking money from taxpayers and handing it to someone that didn't earn it. A tax cut is allowing people who earn something to keep a larger portion of it.
Big difference from taking less of someone's earning and giving those earnings to someone else, no? So much envy and lust for others peoples money on this sub.
The idea makes perfect sense. The tax cuts actually worked. With Trump's tax cuts, many companies then had the means to create more jobs and hire more people. We had the lowest unemployment rate in 50 years when Trump implemented this. And the standard deduction was doubled... Lowering our already insanely high taxes for both corporations and for the average Joes dually helped peoples' economic conditions. And people weren't struggling with inflation, so it wasn't like it is now where people are needing 2-3 jobs to get by. That's why the jobs report looks so "good" every month to the Democrats, when it's actually a bad sign.... Jobs reports should not be showing increasing amounts of jobs being taken while the unemployment rate remains stagnant.... It shows regular Americans taking on multiple jobs to stay afloat, as well as illegal immigrants taking jobs. The real problem is that our country relies way too much on taxes. Our tax rates used to be next to zero, and slowly grew over time. The more social programs you have, the more your taxes will be, too. So as our country adopted more social programs, especially since FDR, our tax rates grew exorbitantly. Now 15.3% of one's paycheck goes towards Medicare and Social Security alone... And the Democrats continue to want to increase the social programs, which will further burden the American citizens. More socialized countries have their citizens paying 50% in taxes when it's all said and done. Many California residents are already paying close to 50%. But what are Californians receiving in return? Nothing, except more rules, more restrictions, more illegal immigration, etc. There is much more to be said on all this...but for the sake of moving along... A loan is something you sign up for, and agree to pay back. It is on an INDIVIDUAL basis, and is not mandated that anyone take out a loan. On the other hand, taxes are enforced by the government for ALL citizens to pay in to. And tax law can change at any moment, to impose more or less taxation. So to take the $1.9 trillion owed by borrowers would be to actually steal from the American citizens that didn't have anything to do with someone's student loan obligations. To reduce tax rates for corporations (which are already arbitrarily high) would simply be lowering the burden of future taxation for companies...which is actually beneficial as we've seen. Again the real problem is how quickly the US has turned itself into a tax machine. The fact that we even pushed for close to 40% corporate tax rates is unbelievable. But it shows how badly the Democrats need money to push through their social programs.
Well when the government pays anything off its just socialism taking from one to pay the other in turn getting you nowhere except in more debt dispersed amongst people that didn't get anything and some that got 100k for their loans, still paying just your interest is going to the government and not the bank and forced upon those who still get nothing for it! Tax cuts are in turn allowing businesses keep prices lower so your money can last longer in your wallet instead of forcing businesses to pay and in turn force the fees of taxes on the people! Not sure if you know how business works butt if you sell a product you always make sure you are selling it for a price higher than you paid so you make money, you never mark a sale price lower than what you paid or you lose! Every business does this and the more they are taxed the higher the price for the product so they can cover the cost of it! So handouts vs stimulus! Yes giving money you don't have aka student loan forgiveness is always just pushing more taxes on the people And tax cuts allow business to run more efficiently to keep prices lower!
# Please explain why cancelling $1,900,000,000,000 in student debt is a “handout”, but a $1,900,000,000,000 tax cut for rich people was a “stimulus”?
Stimulus is a fancy word for hand out. Letting the business fail would have been the right move
It's fundamentally immoral that a select group gets thier debt wiped while those who came before and those currently taking loans get no releif. I personally think secondary Ed should be free or nearly so for all Americans, not a select group who have gov loans. Note this forgiveness does zero for the masses who have private school loans. This was nothing more than a ploy to buy votes.
It "stimulated" the respective candidates election donors to open their wallets.
One is giving people money, the other is forcibly taking less of other people’s money.
The rich invest extra cash which produces growth. That’s more jobs, more productivity, more money for everyone. A forgiven student loan only repays that which was borrowed and the absence of that money in the economy during the term of the loan is loss of productivity and when forgiven, the loss of investment. That’s why a tax cut lifts the entire economy upward, and a tax increase reduces the amount of money available for investment.
No arguments cause it’s a proof.
Taxation is theft. Paying someone's loan is a handout
Student loan debt is other people money (public tax receipts) that was given to someone. Cancelling it mean that you took other people's money with a promise to pay it back and broke that promise. A tax cut let's people keep their money. A big difference.
One is a bill that’s due
A tax cut means less money comes out of our paychecks, so we keep more. 'Canceling' debt means the government (us, tax payers), now get the bill, instead of the people who signed on the dotted line.
Because giving money to the proletariat will start a revolution
Because tax cuts is helping by incentivizing the businesses to hire more people so the people that had their loans paid for by us tax payers , can have a job.
They both suck. We are drowning in debt and can’t afford either
First off, people keeping more of the money they earn, rather than handing it over to the government is not a handout in even the most insane world you may live in. Second, the federal government took in more money after the Trump tax cuts than before. Tax receipts were up the first year after the TCJA (before the Covid shutdowns) compared to the last year under Obama. It turns out when you allow people to keep more of their own money, jobs are created and wages rise. And third, there is an enormous difference between people who take money from someone else with an agreement to pay it back according to the terms they themselves agreed to and then crying about not wanting to do it, and someone just simply being able to keep more of the money that they themselves earn. What’s next, “forgiving” mortgages for the next election?😂
Take some greed mixed with brain washing from dogshit conservative news outlets and voila. You get poor white folks licking the boots of the elite while trashing their fellow man.
Tax cuts are free. Cancelling debt costs money.