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Counter Action to Biden's student loan giveaway

Posted on 8/25/22 at 9:30 am
Posted by moneyg
Member since Jun 2006
61896 posts
Posted on 8/25/22 at 9:30 am
This should be the counter from conservatives when they get in power.

All education savings plans (tax deferred) are immediately eligible to be converted to cash free of tax and without penalty.

Posted by DoubleDown
New Orleans, Louisiana
Member since Oct 2008
13300 posts
Posted on 8/25/22 at 9:33 am to
quote:

All education savings plans (tax deferred) are immediately eligible to be converted to cash free of tax and without penalty.

That's not quite the same but not a bad idea. That just simply doesn't apply a tax to people who have worked hard to save their $$$.

The counter action will be that Trump is likely President and the far left will move/kill themselves/melt beyond belief. We will bath in 10k worth of tears.
Posted by HailToTheChiz
Back in Auburn
Member since Aug 2010
53593 posts
Posted on 8/25/22 at 9:33 am to
Not bad idea. However, those who have paid and have no kids get nothing.
Posted by therick711
South
Member since Jan 2008
26097 posts
Posted on 8/25/22 at 9:34 am to
The counter would be to dismantle the federal subsidized loan programs and tax universities.

Also, eliminate tax preferred treatment of donations to universities.
This post was edited on 8/25/22 at 9:36 am
Posted by bluestem75
Dallas, TX
Member since Oct 2007
4894 posts
Posted on 8/25/22 at 9:40 am to
Universities need to hear the brunt of the responsibility for this. They took advantage of young men and women who didn’t have any real world experience with financing on the promise that a degree will help them earn more in their careers. (“Don’t worry about the loans. You’ll be able to pay them off.”) They then took “free” money from the Federal govt and proceeded to repeatedly raise tuition and fees knowing that the government-backed loans would pay for it.

Classic predatory behavior.
Posted by LoveHorn
77436
Member since Aug 2022
36 posts
Posted on 8/25/22 at 9:55 am to
And yet you hear nothing from the usual suspects about those predatory practices. And these are the same people who throw a shite fit about a payday loan company preying on the innocent. The universities definitely need to eat some of this shite sammich.
This post was edited on 8/25/22 at 9:56 am
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