- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Elizabeth Warren's Answer For Student Loan Debt - Tax Rich People
Posted on 8/25/14 at 12:08 am to Taxing Authority
Posted on 8/25/14 at 12:08 am to Taxing Authority
Yes, everyone gets a Porsche. That is exactly what I said you dumbass.
Your being arrogant in the fact that you assume everyone with student loans is some frick up with a worthless degree.
The economy is partly to blame for student loan default rates. Lowering the interest rate will allow for more flexibility to pay back loans, allow a lot of these people to save money to buy houses and cars, allow them to move on with their life/find someone willing to marry them and their student loans, it will also stimulate he economy by giving people more purchasing power.
Oh but you think frick them because they tried to get an education. frick them because there is someone on capital hill finally making an argument for the middle class. frick them because they are going to raise taxes on people who enjoy tax breaks, low interest products.
I do believe it is wrong for the federal government to profit off of its individuals. That's the fiscal conservative coming out in me.
Your being arrogant in the fact that you assume everyone with student loans is some frick up with a worthless degree.
The economy is partly to blame for student loan default rates. Lowering the interest rate will allow for more flexibility to pay back loans, allow a lot of these people to save money to buy houses and cars, allow them to move on with their life/find someone willing to marry them and their student loans, it will also stimulate he economy by giving people more purchasing power.
Oh but you think frick them because they tried to get an education. frick them because there is someone on capital hill finally making an argument for the middle class. frick them because they are going to raise taxes on people who enjoy tax breaks, low interest products.
I do believe it is wrong for the federal government to profit off of its individuals. That's the fiscal conservative coming out in me.
This post was edited on 8/25/14 at 12:11 am
3
Posted on 8/25/14 at 12:23 am to Taxing Authority
And I am convinced that you don't know shite about the actual issue so how about you just shut the frick up.
Back on topic....
I think it is stupid that the government doesn't allow people who make more than $75k a year to write off the student loan interest as a tax deduction. That rule should be taken out all together.
The rich take out mortgages to take advantage of the mortgage interest deduction. Even though they could easily buy their house(s) in cash.
At the very least, the government should allow individuals to write off the interest no matter how much they make.
Back on topic....
I think it is stupid that the government doesn't allow people who make more than $75k a year to write off the student loan interest as a tax deduction. That rule should be taken out all together.
The rich take out mortgages to take advantage of the mortgage interest deduction. Even though they could easily buy their house(s) in cash.
At the very least, the government should allow individuals to write off the interest no matter how much they make.
This post was edited on 8/25/14 at 12:27 am
Posted on 8/25/14 at 12:31 am to SpidermanTUba
Why are you so convinced that the only road to success is to join the racket commonly referred to as "higher education?"
Posted on 8/25/14 at 1:24 am to SpidermanTUba
quote:
How about only the wealthy get to go to college and everyone else becomes a worker bee?
Why do you have to go directly to college right after high school? If you or your family can't afford it but you want to go, work and save money until you can afford it. That's much smarter than jumping into loans.
Posted on 8/25/14 at 4:00 am to RebelExpress38
My parents were not very well off (I went to BR public school). I washed dished and did lawns thru high school to pay for stuff and save for school.
I worked hard in high school (unlike a lot in my class) because I wanted a better life for myself. I got TOPS when I graduated. I got into some out of state schools, but didn't want to incur the debt because I didn't know what I wanted to do in life yet and didn't want my parents struggling to try to help me when I didn't have a forward plan.
I worked campus jobs during the school year, worked summers on oil rigs to be able to afford to have a little fun in college. Realized early on that if I wanted to get a job after graduation I should get in the engineering field (this was before everybody and their mom was trying to graduate in it, our graduating class was like 20).
I got lucky that when I graduated the oil industry was picking up and I was able to get a job but I was prepared to just go back to the rig and work as a roughneck and work my way up if I couldn't find anything.
I consider myself very lucky to be where I am today but there was work involved and I was prepared to work as hard as I needed to make a comfortable life for myself. You just don't see that sort of work ethic with a lot of people growing up now. It's a combo of being prepared to get your hands dirty and picking a major that will generate income. I'm all about following your dreams, but if you don't have rich parents, it's probably not a good idea to go to a private college and get a degree in art.
I worked hard in high school (unlike a lot in my class) because I wanted a better life for myself. I got TOPS when I graduated. I got into some out of state schools, but didn't want to incur the debt because I didn't know what I wanted to do in life yet and didn't want my parents struggling to try to help me when I didn't have a forward plan.
I worked campus jobs during the school year, worked summers on oil rigs to be able to afford to have a little fun in college. Realized early on that if I wanted to get a job after graduation I should get in the engineering field (this was before everybody and their mom was trying to graduate in it, our graduating class was like 20).
I got lucky that when I graduated the oil industry was picking up and I was able to get a job but I was prepared to just go back to the rig and work as a roughneck and work my way up if I couldn't find anything.
I consider myself very lucky to be where I am today but there was work involved and I was prepared to work as hard as I needed to make a comfortable life for myself. You just don't see that sort of work ethic with a lot of people growing up now. It's a combo of being prepared to get your hands dirty and picking a major that will generate income. I'm all about following your dreams, but if you don't have rich parents, it's probably not a good idea to go to a private college and get a degree in art.
Posted on 8/25/14 at 5:48 am to cjared036
quote:
The economy is partly to blame for student loan default rates. Lowering the interest rate will allow for more flexibility to pay back loans, allow a lot of these people to save money to buy houses and cars, allow them to move on with their life/find someone willing to marry them and their student loans, it will also stimulate he economy by giving people more purchasing power.
Oh but you think frick them because they tried to get an education. frick them because there is someone on capital hill finally making an argument for the middle class. frick them because they are going to raise taxes on people who enjoy tax breaks, low interest products.
I do believe it is wrong for the federal government to profit off of its individuals. That's the fiscal conservative coming out in me.
lol, just lol
eta: particularly the bolded parts, and the notion of loans being the way the government "profits off of its individuals", but raising taxes on someone other than the poster is somehow not
This post was edited on 8/25/14 at 5:53 am
Posted on 8/25/14 at 6:06 am to cjared036
quote:
cjared036
Forgive me, but if you work in banking, you're the last person I'm going to let lecture me on student loans.
As I said earlier, if the government would stop insuring student loans ALTOGETHER, the problem solve itself.
Posted on 8/25/14 at 6:46 am to cjared036
quote:Yes it is, and so some government redress could be justified. Not one that discourages repayment, or discounts penalties for nonpayment though.
The economy is partly to blame for student loan default rates.
Schools should also share major blame. If their graduates suffer significant unemployment in a field, they should at the least have to fully disclose the fact to students. Frankly, I'm with the Delaware Senator, schools should bear some portion of the financial burden.
But ultimately, burden of responsibility lies with the individual.
In this case with the student. Correct?
It is a burden which should be shouldered by those who chose to create it, not by those who did not.
Posted on 8/25/14 at 6:49 am to DeltaDoc
quote:
The comments are golden as well.
quote:
Ugh! Fake Cherokee squaw Lizzie Wahoo Warren have heap big scheme to fleece pale-face taxpayers out of plenty wampum. She done same many time before.
Posted on 8/25/14 at 6:51 am to cjared036
quote:
The rich take out mortgages to take advantage of the mortgage interest deduction. Even though they could easily buy their house(s) in cash.
I don't think you really understand why the wealthy do this if you are saying it is solely for the tax deduction.....
Posted on 8/25/14 at 6:54 am to NC_Tigah
quote:
NC_Tigah
You're one of the smarter financial guys on this board, I'm interested in what you would do to fix the problem.
Also, off topic, but I wish Benny And the InkJets would visit this board more often.
Posted on 8/25/14 at 6:56 am to ironsides
quote:
I don't think you really understand why the wealthy do this if you are saying it is solely for the tax deduction.....
This was my first thought as well. Clearly he's never owned Real Estate.
Posted on 8/25/14 at 7:07 am to ironsides
Yeah I know they use mortgages to also have more $ for investment. But they also take advantage of the deductions. If you were to take that away I am willing to bet good money the use of mortgages by the rich will fall.
My lecturing is not any different from those that are against any kind of relief.
My lecturing is not any different from those that are against any kind of relief.
This post was edited on 8/25/14 at 7:23 am
Posted on 8/25/14 at 7:14 am to NC_Tigah
They are not trying to get forgiveness. They are trying to allow students/individuals be able to refinance the student loans at a lower rate. To allow the private and public loans be refinanced together.
The lower rate, and the interest deduction that I believe should be available, is just a form of relief to improve the situation. To improve the situation for the borrower and for the system that the government has no choice but to prop up.
The lower rate, and the interest deduction that I believe should be available, is just a form of relief to improve the situation. To improve the situation for the borrower and for the system that the government has no choice but to prop up.
This post was edited on 8/25/14 at 7:18 am
Posted on 8/25/14 at 7:25 am to Vols&Shaft83
Clearly you are wrong. Sorry I can't frame my full thought process on my arguments within two or three paragraphs from my phone.
Keep assuming you have all the answers tho.
Keep assuming you have all the answers tho.
Posted on 8/25/14 at 7:31 am to 90proofprofessional
Hey I don't think it's right for the government to depend on the banking system to maintain their revenues.
At least with taxing the individuals has forms of relief available through the use of deductions. Oh and death and taxes.
I also don't think Fannie and Freddie should be nearly as big as they have been allowed to get.
At least with taxing the individuals has forms of relief available through the use of deductions. Oh and death and taxes.
I also don't think Fannie and Freddie should be nearly as big as they have been allowed to get.
Posted on 8/25/14 at 7:37 am to Vols&Shaft83
quote:Well there are a couple of issues. Those that are retrospective, and those that are prospective.
You're one of the smarter financial guys on this board, I'm interested in what you would do to fix the problem.
Retrospective:
The loans that are out there are what they are. Not much to do but tweak a bad thing, i.e., Tax deduction for interest. In instances of hardship, reduced interest and extended payment periods to cover some of the government guarantees.
Prospective:
* Hold schools responsible for their product, either by disclosure, monetary penalty or both.
* Allocate loan guarantee amounts by degree/profession. * Banks could lend all they wanted to a kid studying art history at Tulane, but the government would only guarantee a fraction of the loan. On the other hand, degrees with more reliable job prospects (e.g., accounting, engineering, nursing, etc) would see substantially higher guarantees.
* I would also predicate guarantees based on in-state public college tuition/room-board/COL rates. Any thing beyond that would entail only a partial guarantee.
* Tuition would be tax deductible at least for most families. Tax deductibility of Tuition would encourage families to share a larger burden.
Posted on 8/25/14 at 7:48 am to cjared036
quote:Perhaps that is where you are confused?
They are not trying to get forgiveness.
The Obama Student Loan Forgiveness Plan is in effect now. Obama has intimated, with pen and phone in hand, he's willing to extend forgiveness parameters.
Posted on 8/25/14 at 7:50 am to DeltaDoc
Students in debt could always go my route.
Get a job and pay it off.
Get a job and pay it off.
Posted on 8/25/14 at 7:51 am to cjared036
quote:
Hey I don't think it's right for the government to depend on the banking system to maintain their revenues.
This, in a thread concerning loans backed by government guarantees? Really?
Page 5 of 6
Popular
Back to top
Follow TigerDroppings for LSU Football News