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Started By
Message
re: Biden leaning towards canceling 10K in student loan debt if u earn less than 125K
Posted on 8/25/22 at 7:53 am to RLDSC FAN
Posted on 8/25/22 at 7:53 am to RLDSC FAN
I just thought of this fact that has not been discussed. Anytime a debt is cancelled over 600 dollars, typically a 1099-C is issued as taxable income unless the individual is insolvent.
It will be fun to see when they start issuing 1099-C’s and people realizing they have to pay an extra 1-2 thousand in taxes.
It will be fun to see when they start issuing 1099-C’s and people realizing they have to pay an extra 1-2 thousand in taxes.
This post was edited on 8/25/22 at 7:56 am
1
Posted on 8/25/22 at 7:54 am to Palmetto98
quote:
Why should the skilled labor market have such a cushion in pay and job security because kids overwhelmingly choose college over being an electrician or plumber?
What does this have to do with anything? If the college graduate salaries are so much better than trade jobs, why do they need loan forgiveness at all? Shouldn’t the investment in college education pay off itself? Or are you saying investing in a college education isn’t worth it and needs government subsidies to be financial solvent for an individual?
Posted on 8/25/22 at 7:57 am to Oilfieldbiology
quote:
So you see no difference between PPP, even though it was a hugely wasteful scam, and student loan forgiveness?
You see no difference in (potentially) keeping business running and people employed due to government shutdowns vs reducing loan payments for college graduates still carrying a balance?
There's plenty of differences.
But at the end of the day, your boy donny got all the assistance he needed. You ask why doesn't the government help out small business? What world have you been living in?
Posted on 8/25/22 at 7:58 am to Oilfieldbiology
quote:
Your arguments have literally been, “Why do you care?”
THis is the guy who's been crying for months because people noticed inflation and owned expensive trucks.
Check out the threads he's started.
Posted on 8/25/22 at 8:02 am to Oilfieldbiology
quote:
What does this have to do with anything? If the college graduate salaries are so much better than trade jobs, why do they need loan forgiveness at all? Shouldn’t the investment in college education pay off itself? Or are you saying investing in a college education isn’t worth it and needs government subsidies to be financial solvent for an individual?
1). College is a tough & long investment for an individual without generous parents to pay for it.
2). College tuition has increased over the years and become more competitive in the job market in general.
Vs
Donny doesn’t have to invest 4 years of his life at minimum/college tuition right out of HS & Donny can easily make 100k by 30 due to the skewed labor market favoring college degree jobs.
As a result, Donny can stfu about Johnny getting a measly 10k from Biden.
quote:
THis is the guy who's been crying for months because people noticed inflation and owned expensive trucks. Check out the threads he's started.
You are the one crying about a topic from July or June. Is your arse still sore or something?
This post was edited on 8/25/22 at 8:04 am
Posted on 8/25/22 at 8:03 am to Palmetto98
quote:
As a result, Donny can stfu about Johnny getting a measly 10k from Biden.
Poor Johnny, always the victim. "Please don't cry about me."
Johnny, enjoy your free money. You definitely need it more than they do.
This post was edited on 8/25/22 at 8:06 am
Posted on 8/25/22 at 8:03 am to Oilfieldbiology
why do yall still reply to him? it's obvious what he is
Posted on 8/25/22 at 8:04 am to GreatLakesTiger24
People still get rolled up by Guacho so not really surprising.
Posted on 8/25/22 at 8:06 am to JohnnyKilroy
The world I’m living in is a world in which progressives have been calling for student loan forgiveness and free college education for everyone since Obama was elected, well before the vast government overreach and fear campaign of 2020-now.
The PPP was designed specifically to stop the economy for entering a depression equivalent to 1929. I don’t think we needed it as all we needed to do was not shut the economy down, but blue state and blue city leadership were hell bent on doing just that.
The PPP was designed specifically to stop the economy for entering a depression equivalent to 1929. I don’t think we needed it as all we needed to do was not shut the economy down, but blue state and blue city leadership were hell bent on doing just that.
Posted on 8/25/22 at 8:08 am to Palmetto98
quote:
College tuition has increased over the years
Do you know why college tuition has so thoroughly outpaced inflation the last decade or 2?
quote:
As a result, Donny can stfu about Johnny getting a measly 10k from Biden.
And it’s not about $10,000. It’s about $300,000,000,000 added straight to the deficit and debt, erasing $300,000,000,000 of future income into the government so it’s really like $600,000,000,000 debt, at a time that inflation has been absolutely hammering people and business.
You keep using $10,000 like that’s all that’s being mortgaged. It’s SO much more.
This post was edited on 8/25/22 at 8:10 am
Posted on 8/25/22 at 8:10 am to Tarps99
quote:
I just thought of this fact that has not been discussed. Anytime a debt is cancelled over 600 dollars, typically a 1099-C is issued as taxable income unless the individual is insolvent.
It will be fun to see when they start issuing 1099-C’s and people realizing they have to pay an extra 1-2 thousand in taxes.
So dumb
Posted on 8/25/22 at 8:10 am to RogerTheShrubber
quote:
Poor Johnny, always the victim. "Please don't cry about me." Johnny, enjoy your free money. You definitely need it more than they do.
Or Johnny can come to your sorry arse factory in Shreveport and take a supervisor role with his degree and pvss you off?
quote:
Do you know why college tuition has so thoroughly outpaced inflation the last decade or 2?
Yes, something that all of y’all asshurt tradies are currently benefiting from
This post was edited on 8/25/22 at 8:12 am
Posted on 8/25/22 at 8:11 am to Oilfieldbiology
quote:
The world I’m living in is a world in which progressives have been calling for student loan forgiveness and free college education for everyone since Obama was elected, well before the vast government overreach and fear campaign of 2020-now.
Subsidizing college costs will increase the costs of going to college. Children cannot understand that. As long as there are economic illiterates, people will push for dumb stuff like this.
Posted on 8/25/22 at 8:12 am to Oilfieldbiology
quote:
The world I’m living in is a world in which progressives have been calling for student loan forgiveness and free college education for everyone since Obama was elected, well before the vast government overreach and fear campaign of 2020-now.
The PPP was designed specifically to stop the economy for entering a depression equivalent to 1929. I don’t think we needed it as all we needed to do was not shut the economy down, but blue state and blue city leadership were hell bent on doing just that.
I mean you can come up with all the justifications that you want.
End of the day, small business in america got the largest handout in history. Nearly a trillion dollars worth of loans...forgiven by the feds. No one forced them to take out the loans.
So your little timmy and donny scenario doesn't really move the needle because donny already got 10s of thousands of dollars worth of loans forgiven.
Posted on 8/25/22 at 8:13 am to Palmetto98
quote:
Yes, something that all of y’all asshurt tradies
I love your cute little zoomer words.
10k of forgiveness is life changing for you. Not to them.
Posted on 8/25/22 at 8:17 am to RogerTheShrubber
quote:
I love your cute little zoomer words. 10k of forgiveness is life changing for you. Not to them.
My loans are 30k, 10k isn’t shvt
Posted on 8/25/22 at 8:17 am to JohnnyKilroy
quote:
End of the day, small business in america got the largest handout in history. Nearly a trillion dollars worth of loans...forgiven by the feds. No one forced them to take out the loans.
Fact and there was rampant fraud. People getting sometimes hundreds of thousands of dollars they didn't qualify for
Posted on 8/25/22 at 8:20 am to Palmetto98
quote:
My loans are 30k, 10k isn’t shvt
Yet here you are, crying because someone criticized your handout. Must be life changing for ya.
This post was edited on 8/25/22 at 8:21 am
Posted on 8/25/22 at 8:23 am to Palmetto98
quote:
Yes, something that all of y’all asshurt tradies are currently benefiting from
Pray tell what is that?
Posted on 8/25/22 at 8:24 am to RogerTheShrubber
quote:clearly and this loser pretends he has a 200k+ salary
10k of forgiveness is life changing for you.
This shite sucks for us. I’m in finance and was too intelligent with my wife’s doctorate student loans. She had 100k+ in student loans and we paid them off with a personal loan with a much better rate when she graduated. It was the right move yet now we won’t have shite forgiven and my wife has been unable to work for over a year due to illness. Not only that, now we’ll start paying more in taxes to pay off all my ignorant peers loans.
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