U.S. government to seize money from actual working class people, give it to college graduates

[Mercer]

This is the most bizzaro champagne Socialist bullshit I've ever seen. The U.S. government devalues college degrees, which used to be a rare commodity, via predatory lending to people they know can't pay back the loans. Having a college now, or even a graduate degree is no longer a scarce commodity, thus due to supply demand, most degrees are just above breaking even in value, (return on investment). This upsets people who went to college and were lied to by teachers that said going to college is a good investment (misery loves company). "d0n'T wANt to eNd up liKE tHe JaNiToR" Meanwhile the Janitor makes double what your average financially illiterate teacher makes, because they're not undercutting each other wages with terrible unions, because there's way too many people qualified for that job.

 

Now these college students that were lied to and told to go to college have to do exactly what they agreed to, exactly what they literally signed their fucking name to do, pay the fucking loan back. Your average smart person (blue collar) would take a look at the degrees that don't pay, and the degrees that do pay because they're in demand, and only guarantee loans for the ones with value like STEM, Electrical Engineering, AKA the shit we have to import people to do because Americans aren't smart enough. Instead the solution is to punish people who statistically earn less than college graduates by increasing taxes, and hiring 87,000 new IRS agents. College graduates, who apparently haven't learned a basic economic lesson from this instead draw upon their classist hatred towards the blue collar people that support them, cheer, applaud, and watches the people that supports their lazy asses pay thousands of dollars more in taxes to the sound of their fake socialist champagne glasses clinking together.

 

Edited August 25, 2022 by Mercer

[KILZ FILLZ]

What an absolutely strange time to be alive

 

 

 

[Mercer]

It's funny, both side are going back and forth, both right about the implied massive tax abuses "forgiving" personal, or business expenses.

 

This isn't as bad as war spending, but still. Little more does come out of a factory workers check, to cover some of the personal loans of the people in the nice cars at the factory, in the nice parkings spots near the air conditioned front office.

 

"We have to increase rent, to forgive the debts & PPP loans your landlords owe".  The Mortgage reduction act will return gasoline to $1.69 per gallon.

[KILZ FILLZ]

it’s all funny money, baby

 

edit:
Meanwhile let’s just keep sending billions to Israel and politicians keep signing off on that shit. Are they too scared of being called an antisemite to say anything or are they not able to do anything ?? @Mercer

[Mercer]

Infighting over who's pockets it goes into, thieves that never ask if the people's money should be forcibly extorted in the first place.

[KILZ FILLZ]

1 hour ago, Mercer said:

Infighting over who's pockets it goes into, thieves that never ask if the people's money should be forcibly extorted in the first place.

Yes

[mr.yuck]

I'm so up in the air about this shit. On the one hand, fuck these dummies. On the other hand, these predatory loans with outrageous repayment schedules have real economic consequences that are stifling growth by getting in the way of otherwise qualified people from buying new cars or homes. 

[Elena Delle Donne]

so i paid off five figures in loans on my own. my parents and grants and working a university job for two years (as a full time student) paid for the rest of college. 

 

i am conflicted on this. i know people are hurting and tens of thousands of people are chained to student loans and it's going to fuck up their life forever. coming up i bought into the college propaganda like everyone did, you had to go. and i don't love that the federal government is in the loan business to start with. 

 

at the same time: this does nothing to arrest the exploding cost of college (it wasn't supposed to, but i am depressed that the prospect isn't even brought up). i don't particularly like this precedent and don't want taxpayers to pick up the tab on tuition that was inflated because baylor wanted a new football stadium. break up the college board. crack down on textbook and material prices. anything. they won't because the education lobby is a democratic one. 

 

there is personal beef here too: academia is probably the least defensible liberal power center, similar to the military in enabling itself to scale and creep and exploit, and i blame academia for much of the class blindness and identity politics that have brought limited success at the cost of impeding liberal/left movements for ten years. democrats are going to lose the latino vote as they argue over how to pronounce "latinx." 

 

you're seeing that in action here: democrats have no long term play behind this, no vision for how college financing can be reformed, nothing to improve the prospects of the average student in a four year college or a trade school. not every program needs to benefit every person, but this is transparently a one time thing. it's cynical. 

Edited September 1, 2022 by Elena Delle Donne

[Mercer]

The cost of college is exploding because of government intervention, not because the government isn’t interfering enough.

 

1) Federally guaranteed loans increase the number of students and demand for college.

 

2) The department of education has granted “accredited” colleges and universities a virtual monopoly, artificially limiting supply.
 

It’s obvious to me (as non college graduate) artificially increasing the demand raises the price, and artificially reducing the supply of a good or service will also increase the price.

 

To make things worse, increasing the supply of job seekers with degrees in effect increases the supply, thus reducing college graduate salaries since a degree is a dime a dozen now, Along with exponentially higher costs for a degree, the over abundance of degree holders and their resulting lower salaries also makes these loans harder to pay back.

 

The cause of this problem college graduates face is well intentioned government intervention, not a lack of it. What they’ve just done has not fixed the problem, it’s just made the problem worse, and an unfair burden on the actual working class. Should the government cover a plumber, or electricians poor investments? How about someone who opened an air conditioning business in Alaska? This loan forgiveness business  is never forgive action.

[mr.yuck]

The government gives, the government takes.

 

https://www.businessinsider.com/north-carolina-student-loan-debt-forgiveness-taxed-2022-9?utm_source=reddit.com

[NightmareOnElmStreet]

Exact fit Oner. I have zero qualms with the bigger picture and also zero qualms with never having paid much a damn of my shit in the first place. Fuck’em. 10k is such a wild joke in the first place at least for most people.