Turtle keeper

Typical Democrat response. No one ever paid their student loans back during the 60s, 70’s and 80s. Or at least very few. The banks would charge the loan off and the Government would pay the banks and never get the money back. I’ve known a number of people including 1 medical doctor multiple lawyers that just laughed about paying the loans. News for you the Government does not “generate” income.
Had to add this. Just because loans are REDUCED doesn’t mean anyone will buy a new home or anything else with the few dollars in loan forgiveness. If you check these same people don’t want to own homes or have children. They prefer dogs and cats and traveling to far away places. I’ve seen to many studies about it. So stop with the typical Democrat answer. Democrats believe that a small increase in taxes like $1000 a year is ok. But a Huge decrease in taxes of $300.00 a year is not good.

jimpack123 Loc: wisconsin

your money was hot lol

Wonttakeitanymore

So it’s fair to bill the people that hold good jobs and either paid their debt or didn’t go to college liable for these high earners debt? Why haven’t they paid it with all the money they make! They have deferred it forever!! Pay it! We pay our debts!

billlingle

Do you receive federal or state financial aid? If not why are portions of your taxes going to pay for those who do? The answer is that it all supports the common good. You know about student loans and how onerous they can be. You, possibly, were hampered in your pursuit to establish a life after college and possibly missed out on any number of great opportunities due to liquidity issues.
Those who are relying on state or federal aid generally have a situation where they are physically or mentally unable to perform duties that others are willing to pay for or are simply unable to work. It is in the public interest to provide the means to shelter and feed these people rather than having them dying on the streets. Similarly, having a huge portion of the educated American public stuck in limbo without the liquidity to enter the world of productive society is a terrible waste of talent, sk**ls and the productive energy of an educated young population.
The fact that you and millions of others have had to endure the entire payoff process is shameful given the huge advantage given to so many in the world who have access to free education. The progress towards that same goal is finally picking up speed and it is going in the right direction. Too many incredibly bright kids are unable to use their intelligence to better themselves and their communities simply because college is out of their financial reach. This is a horrible waste of a priceless asset.
To say I had to pay so why shouldn't they is rather like suggesting throwing out the polio v*****e because I had to be terrified of polio as a kid so why shouldn't they. Progress is simply moving forward to improve the lives of the people. There will always be those who will not be able to take advantage of a gigantic occurrence like this and the fault is not their own. There is no fault at all.
What I am totally opposed to, though, is to pay off all or some of student loans while allowing the colleges and universities to continue to increase their tutions.

billlingle

How about taxing the 1% on the same scale as you and I are taxed. When Mitt Romney was running for president he said that he made $22M in that year and paid 13% in taxes. That same year I paid 28% and I certainly didn't make $22M. The wealthy have spent enormous amounts of money on buying legislators and ordering them to submit bills and pass them that give them the ability to duck vast amounts of tax liability due to targeted tax breaks aimed their way. The solution is a complete revamping of the tax codes in order to redistribute the wealth that has been accumulated by the insanely wealthy because of these significant advantages not applicable to others.

Turtle keeper

How does raising taxes on the 1% redistribute wealth??? Do you believe that they should take that money and spread it around to only poor people or everyone. You make no sense

American Vet

Tax each person equally. Problem solved.

jimpack123 Loc: wisconsin

very good

Radiance3

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$605 billion: New Wharton report shows cost of Biden’s loan forgiveness, at minimum As Democrats and Republicans weigh in, there is concern that his plan could exceed $1 trillion.

According to a report released by the University of Pennsylvania's Wharton School, the recent student loan forgiveness package and income-driven repayments announced by the Biden Administration could cost Americans as much as $605 billion over the next decade. Aug 30, 2022.

Turtle keeper

FJB does Not have the authority to do this. He is trying to make himself a dictator. When will America wake up and get rid of these Socialist/C*******t out of government.
The Congress can stop this but they are counting on it to help them keep power.

Radiance3

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We have the power to decide on Nov. 2022 e******n. Get rid of all the Socialist-democrats from Congress. Then we can fix the massive problems FJB and his weapon DOJ and FBI's have committed. 42 days left to make this happen.

Wonttakeitanymore

They’ll be retired on their huge retirement!

Radiance3

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The final calculated amount was $605 billion. Bottom line is pay off of Student Debts is unconstitutional! GOP will fight against that. V**e all GOP this Nov. 2022.

Radiance3

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I think where Biden learned his unconstitutional executive fiat was from Barack Obama, when he was the VP. Obama violated the constitution as well, and did his political correctness. Fact was the ObamaCare was unconstitutional. But under president Trump he removed requirements of those who did not want to join. That was one of the problems.

Concerning Obama's economic policies, his department agencies, did manipulate ways how to present and mislead the people of low unemployment rate. But it was wrong. I traced all the problems how they did it. It was wrong and deceptive.

billlingle

If the members of the 1% are forced to pay their fair share in taxes they are out that money. That money goes into a general fund that is used for expenses incurred by the community or by the nation. That money also goes to social programs and, very possibly, to a tax cut for those on the bottom of the income scale. The improvements to everything from infrastructure to water quality that will be possible with the increase in funding will be beneficial to everyone. In short, a redistribution occurs when money comes from the wealthy and goes to a general fund. That money that used to be a asset of an individual is now a communal asset. The distribution of those funds benefits all those in the community or in the nation, including the wealthy who paid for it.