Biden approves broad student loan forgiveness

[Steal2B]

This may not go through anyway because in wonderful Republican fashion the morons are challenging it to get it tossed out. Now is it legal? I’ll say no. Apparently Biden said it isn’t legal himself but this is not the way to win an election. Between this move and the roe v wade I’m worried this will rank the Republicans chances in 22’ election. Why do they do stupid shot like this?

This hand out challenge is not a move made to cater to a minority fringe of Republicans and would not hurt the ticket in November.

Efforts to stop the student loan handouts will not surge a Democrat base voter turnout and I doubt it would change many voting Republicans to vote for liberals.

Voters who are motivated to show up and vote, because they are pissed their ill gotten gain was being challenged, were already voting for liberal blue socialism.

 

[Saltwater60]

This hand out challenge is not a move made to cater to a minority fringe of Republicans and would not hurt the ticket in November.

Efforts to stop the student loan handouts will not surge a Democrat base voter turnout and I doubt it would change many voting Republicans to vote for liberals.

Voters who are motivated to show up and vote, because they are pissed their ill gotten gain was being challenged, were already voting for liberal blue socialism.

It sure will hurt the ticket in November. We need some independents to swing our way and Biden was or will be very favorable among young people. This will not make young voters come the Republican way as well as many independents or democrats sick of the crime and economy.
People vote with their wallets many times and this is a wallet issue. People will say well inflations up of Biden is going to give me some relief I might as well vote democrat. People are hurting and they are looking for relief and this claims relief. People believe what they want to believe. Of the republicans block this it will motivate democrats to get out and vote during a mid-term election and may sway some independents and poor republicans.
I agree it won’t change the liberal base but that’s not all voting is about these days. The swing votes are what matters in many instances and that’s what this is about.

 

[spat]

His "Tax cuts and jobs" act was anything but that for me. It was a several thousand dollar federal tax paid increase for my family.

And Bidens assfucking of the economy has cost you a lot more than that.

Don't let them get away with the inflation scam. Inflation right now is a 10% pay cut across the board for everyone. Just because the number of dollars you are getting didn't go down doesn't mean you didn't get a pay cut.


Imagine a gas station that didn't raise their prices, but redefined the gallon. "Gas is still only $2/gallon, it's just that a gallon is only 2 quarts now...". That's what Biden (and the rest of the denocrats) has done to *everything*.

 

[technicalgadget]

Biden Administration Quietly Scales Back Student-Debt ‘Forgiveness’ amid Legal Challenges

The Biden administration quietly changed its policy on who is eligible for student-debt "relief," scaling back its promise to millions amid legal challenges.

news.yahoo.com

Biden Administration Quietly Scales Back Student-Debt ‘Forgiveness’ amid Legal Challenges​

The Biden administration quietly changed its policy on who is eligible for student-debt “relief” on Thursday, scaling back its promise to millions amid legal challenges.

Until Thursday, the Department of Education’s website advertised that borrowers with privately held federal student loans — Federal Family Education Loans (FFEL) or Perkins Loans — should consolidate their loans into the Direct Loan program to be eligible for up to $20,000 of student-debt “relief.”

The website was modified with no announcement Thursday morning. It now reads, “as of Sept. 29, 2022, borrowers with federal student loans not held by ED cannot obtain one-time debt relief by consolidating those loans into Direct Loans.”

The policy reversal comes as the Biden administration has faced its first legal challenges to the student-loan “forgiveness” order.

On Tuesday, the Pacific Legal Foundation issued the first lawsuit against the administration’s policy, arguing that student-loan borrowers in states like Indiana, Wisconsin, Minnesota, Arkansas, and North Carolina, would be unfairly taxed for the student-loan “forgiveness” under President Joe Biden’s program. Those enrolled in the Public Service Loan Forgiveness program have their debt relief automatically applied under Biden’s program, and because Biden’s “forgiveness” is taxed and the Public Service Loan Forgiveness program is not in those states, recipients would be hit with an unforeseen tax.

On Thursday, Six Republican attorneys general from Nebraska, Missouri, Arkansas, Kansas, Iowa, and South Carolina issued a lawsuit against the Biden administration, arguing that Biden’s unilateral decision to “cancel” debt is unconstitutional.

 

[dwa12479]

In 2008, 34 Republican Senators and 108 Republican House members voted to approve $700 billion to bail out banks from their "toxic" mortgage investments. These are banks that knowingly made very risky loans to people they knew would likely not be able to pay them back.

In 2022, Biden is forgiving around $300 billion in student loans. That money will go directly into the US economy to pay rent, mortgages, buy food, buy clothes, and other stuff. Republicans however, think bailing out big risk-taking banks is GOOD, but bailing out lower-middle class Americans is BAD.

Go figure.

Serious question, but what would the US have looked like had those banks been allowed to fail? Yes, they made bad decisions, but had they failed you're talking the next Great Depression .

The student loan forgiveness is a vote purchasing scheme. Nothing more. The US economy would not collapse if everyone defaulted on their student loans tomorrow.

If my bank disappeared tomorrow with all my money because they made bad decisions that I had no control over, id be fucked as well as the bank. And not because of my own decisions. Now if I had a bazillion dollars of student loan debt for my gender studies degree, that would be my individual decision. And my responsibility.

You're trying to make an apples to oranges comparison.

 

[Saltwater60]

Serious question, but what would the US have looked like had those banks been allowed to fail? Yes, they made bad decisions, but had they failed you're talking the next Great Depression .

The student loan forgiveness is a vote purchasing scheme. Nothing more. The US economy would not collapse if everyone defaulted on their student loans tomorrow.

If my bank disappeared tomorrow with all my money because they made bad decisions that I had no control over, id be fucked as well as the bank. And not because of my own decisions. Now if I had a bazillion dollars of student loan debt for my gender studies degree, that would be my individual decision. And my responsibility.

You're trying to make an apples to oranges comparison.

Stay tuned as we may find out soon enough.

 

[SonOfSun]

If my bank disappeared tomorrow with all my money because they made bad decisions that I had no control over, id be fucked as well as the bank. And not because of my own decisions.

Did the bank force you to deposit your money there, or did you decide to do that?

 

[Saltwater60]

Did the bank force you to deposit your money there, or did you decide to do that?

So it’s his fault of a bank closes down and steals your money? Come on man. There is nothing that says putting your money in a savings account is a risky investment and you could lose it. It’s there for safe keeping not for whatever the hell the bank wants. Yes they can use your money to loan out or whatever but they have to give it back to you when asked.

 

[ronstar]

Serious question, but what would the US have looked like had those banks been allowed to fail? Yes, they made bad decisions, but had they failed you're talking the next Great Depression .

The student loan forgiveness is a vote purchasing scheme. Nothing more. The US economy would not collapse if everyone defaulted on their student loans tomorrow.

If my bank disappeared tomorrow with all my money because they made bad decisions that I had no control over, id be fucked as well as the bank. And not because of my own decisions. Now if I had a bazillion dollars of student loan debt for my gender studies degree, that would be my individual decision. And my responsibility.

You're trying to make an apples to oranges comparison.

YOUR money in a bank is insured by the FDIC up to $250,000, which is WAAAY more than the vast majority of Americans have in the bank.

I'm not convinced we'd be in any worse shape today if not for the Wall Street Bailouts. Maybe it would have caused the SHIT banks to fail and the responsible banks to survive and grow.

 

[dwa12479]

Did the bank force you to deposit your money there, or did you decide to do that?

Do you know all the financial details of everything your bank does?

And there's way more at stake than just private citizens individual accounts when a bank goes under.

 

[dwa12479]

YOUR money in a bank is insured by the FDIC up to $250,000, which is WAAAY more than the vast majority of Americans have in the bank.

I'm not convinced we'd be in any worse shape today if not for the Wall Street Bailouts. Maybe it would have caused the SHIT banks to fail and the responsible banks to survive and grow.

And where does all that insurance money come from? The Federal Treasury?

 

[Saltwater60]

YOUR money in a bank is insured by the FDIC up to $250,000, which is WAAAY more than the vast majority of Americans have in the bank.

I'm not convinced we'd be in any worse shape today if not for the Wall Street Bailouts. Maybe it would have caused the SHIT banks to fail and the responsible banks to survive and grow.

Can you say the same for the citizens of the USA? Should we stop bailing out the people? If you can’t stand on your own two feet then starve to death?

 

[TEOTWAWKI inc.]

Can you say the same for the citizens of the USA? Should we stop bailing out the people? If you can’t stand on your own two feet then starve to death?

Yes, at a government level at least.

 

[Acer-m14]

since banks were brought up .. LOL ..

whooops banking error !!!!

 

[Saltwater60]

since banks were brought up .. LOL ..

whooops banking error !!!!

Must have donated to the democrats.

 

[SonOfSun]

Do you know all the financial details of everything your bank does?

And there's way more at stake than just private citizens individual accounts when a bank goes under.

No, but if I had over 250K there I would split the money between two banks to not exceed the FDIC threshold.

That's the only way you are 'losing' any of your money if an FDIC insured bank goes under. If someone chooses to ignore that, then that is entirely on them because they chose poorly. If you are losing your money because the bank you do business with went under then you fucked up.

 

[Saltwater60]

Apparently they just make it up as they go along. You’re eligible for forgiveness, oh wait nope not anymore, sorry.

Over 700,000 borrowers no longer qualify for student loan relief—how to check if you're still eligible

In a stunning reversal from previous guidelines, borrowers who have federal student loans that are owned by private entities are no longer eligible for relief.

www.cnbc.com

 

[thisIslandEarth]

Wait a minute - I ate f'ing Raman noodles, Spam and Hamburger Helper w/o hamburger AND worked two $hit minimum wage jobs for 2 years to help pay off my goddamn college loans. When I finally got a "real" job I still had to pay that damn loan for 7 years longer.
I want MY $10,000 ( or equivalent 9 mm HP! )

 

[meketrefe]

Obviously instead of fixing the problem at the root we trow more money at it to continue an unsustainable path.

This is how it works biden takes a 20 from your pocket goes around in a circle and it gives you back 2 dollars to pay off your loan.

This Great idea is a long term investment in the future misery of our children.

 

[spat]

Serious question, but what would the US have looked like had those banks been allowed to fail? Yes, they made bad decisions, but had they failed you're talking the next Great Depression .

The student loan forgiveness is a vote purchasing scheme. Nothing more. The US economy would not collapse if everyone defaulted on their student loans tomorrow.

If my bank disappeared tomorrow with all my money because they made bad decisions that I had no control over, id be fucked as well as the bank. And not because of my own decisions. Now if I had a bazillion dollars of student loan debt for my gender studies degree, that would be my individual decision. And my responsibility.

You're trying to make an apples to oranges comparison.

Deposits are FDIC insured. You don't lose them if a bank fails (at least not the first $100k).

*investment* money can go away. Your retirement fund might go away, but you earn a lot higher return on it precisely because it's a risk.

The banks should have failed. Their owners and leaders should have lost all interest and the assets should have been divided up among the creditors (that would be you if you had money imvested).

 

[spat]

Tax cuts and jobs act raised my federal taxes many thousands of dollars, and that many thousand increase was with an additional child tax credit as my youngest was born in 2018. All of the items under Biden added up to less than the Trump tax increases. Like I said I don't like Biden or Trump, however Trump was much worse for me than Biden, but I guess Biden still has time to change that, ha. I don't really care if you believe me, facts are facts whether you believe them or not - the numbers for federal tax paid printed on my federal tax return don't care about opinions. Math is math.

We are very skeptical about your math.

I really think you have neglected a lot of ways Biden has screwed the entire country.

Did you factor in the inflation for instance ?

 

[Saltwater60]

We are very skeptical about your math.

I really think you have neglected a lot of ways Biden has screwed the entire country.

Did you factor in the inflation for instance ?

Also if his tax liability increased does that mean the democrats bitching about what Trump did are wrong?

 

[SonOfSun]

We are very skeptical about your math.

I really think you have neglected a lot of ways Biden has screwed the entire country.

Did you factor in the inflation for instance ?

Be skeptical as you want, the numbers on my 1040 are there.

 

[SonOfSun]

Also if his tax liability increased does that mean the democrats bitching about what Trump did are wrong?

You are expanding beyond my concerns. I don't care about your taxes. I don't care about Spat's taxes. I care about MY taxes. They went up, far beyond what would be expected from wage gains, etc. I don't vote for people that raise my taxes. Full stop. You are immediately disqualified from my vote if you do that.

As far as the inflation goes. I like it better than Trumps tax increases. A lot of people made out under Trumps tax plan while may family got dicked by him. Trump had the resources of the presidency available to him, he could have devised a plan that decreased taxes for 100% of people paying them (I'm excluding the freeloaders here). He chose not to do that. It was his choice, so I blame him. At least with inflation everyone gets fucked instead of just me.

You don't like the inflation? Well it feels like the Trump tax plan to me so... welcome aboard to my pain!

 

[Defilade]

You are expanding beyond my concerns. I don't care about your taxes. I don't care about Spat's taxes. I care about MY taxes. They went up, far beyond what would be expected from wage gains, etc. I don't vote for people that raise my taxes. Full stop. You are immediately disqualified from my vote if you do that.

As far as the inflation goes. I like it better than Trumps tax increases. A lot of people made out under Trumps tax plan while may family got dicked by him. Trump had the resources of the presidency available to him, he could have devised a plan that decreased taxes for 100% of people paying them (I'm excluding the freeloaders here). He chose not to do that. It was his choice, so I blame him. At least with inflation everyone gets fucked instead of just me.

You don't like the inflation? Well it feels like the Trump tax plan to me so... welcome aboard to my pain!

Are you F'in joking? Whatever alleged tax increase caused by trump pales to everyday costs today in ALL sectors

 

[SonOfSun]

Are you F'in joking? Whatever alleged tax increase caused by trump pales to everyday costs today in ALL sectors

How would you know? How much did my taxes go up? Please share.

 

[Steal2B]

How would you know? How much did my taxes go up? Please share.

We can do math, unless your income rose, any increased federal tax is because you pay too much state income tax, school tax, county tax, fire tax, local sales tax, and state sales tax and the rest of the country is sick of bailing out New York's excessive spending using SALT.

 

[SonOfSun]

So you don't know then. Got it.

We can do math, unless your income rose, any increased federal tax is because you pay too much state income tax, school tax, county tax, fire tax, local sales tax, and state sales tax and the rest of the country is sick of bailing out New York's excessive spending using SALT.

 

[Saltwater60]

You are expanding beyond my concerns. I don't care about your taxes. I don't care about Spat's taxes. I care about MY taxes. They went up, far beyond what would be expected from wage gains, etc. I don't vote for people that raise my taxes. Full stop. You are immediately disqualified from my vote if you do that.

As far as the inflation goes. I like it better than Trumps tax increases. A lot of people made out under Trumps tax plan while may family got dicked by him. Trump had the resources of the presidency available to him, he could have devised a plan that decreased taxes for 100% of people paying them (I'm excluding the freeloaders here). He chose not to do that. It was his choice, so I blame him. At least with inflation everyone gets fucked instead of just me.

You don't like the inflation? Well it feels like the Trump tax plan to me so... welcome aboard to my pain!

All I’m saying is they are blaming trump for increasing the deficit because he cut taxes. So either you’re right or they are right. You can’t have your taxes increasing and the democrats saying trump done did fucked up by giving too many tax breaks that he caused the deficit to increase.

 

[SonOfSun]

All I’m saying is they are blaming trump for increasing the deficit because he cut taxes. So either you’re right or they are right. You can’t have your taxes increasing and the democrats saying trump done did fucked up by giving too many tax breaks that he caused the deficit to increase.

Both are possible. The total aggregate taxes collected vs a single individuals taxes don't have to have the same change. It's likely that most people taxes went down. Mine however did not, they did the opposite. I care about my taxes, not most people's.