But forgiviing $20,000 to eligible students for their student loans is bad?
Why did bankers who made bad loans get relief, but students who were duped into high interest loans for their education did not?
From an email:
Taxpayers directly paid more than 245 billion of that.
Yet, Republicans, including the 6-3 partisan court, say it is illegal to forgive up to 20K in student loan debt for hard working Americans!
This is a great American failure. The gap between rich and poor, the haves and have nots, is financial and represents a double standard in how they are treated under the law.
The rich get richer. The poor get poorer. The middle class gets screwed. And that is just fine with Republicans."
8 comments:
I can hear the rethuglicans now... Yaba daba doo and away we go. Screwing the middle class and poor is our mission and reward. Because god gave use dominion over all inferior life forms. Including human liberals..
Yeah, the right in America is the most hypocritical and ignorant organization in the land. The time will come when they are held accountable. It will not go well for them when it finally happens. It can't happen soon enough.
The American taxpayer also helped keep many small businesses and non profits afloat during the pandemic with loans that were eventually all forgiven, no questions asked.
And yes, that help flowed to not just a few multimillionaires and members of Congress too who now decry the "free handout" to students and how eliminating their debt sends a wrong signal and cheats ppl who paid their loans back already.
Look, the GOP, who have obstructed the loan forgiveness plans of the Biden Admin at every juncture, refuse to see this as an effective tax cut for lower income Americans. No loan forgiveness would go to a former student making more than 125K.
None.
And the great majority of that money will not be socked away in 401K and higher interest accounts, it will used to buy everyday necessities and maybe even for down payments on houses.
All drivers of our economy.
What is the downside of this policy, except that it make the GOP look bad? Or maybe makes the Dems look good?
After all, the GOP for decades has said tax cuts pay for themselves in economic growth, so there won't be any impact on the budget.
Unless they've been lying all these years.
How were students duped by their loans. They couldn't read a contract, maybe college is not for them if they can't read and understand a simple document. Instead of paying off a debt someone knowingly accrued and figured out a way not to pay the government should offer a low interest loan. If you want to major in a degree that won't pay enough for you to pay your loan perhaps you should take a different path.
I have a friend who's son paid 20k for a welding degree and he found work to be able to pay it off.
skud I can't do the google thing for you, but search "predatory student loans," and you'll see the problems cheating loaners caused for students.
PS. Interesting that you would disparage the students for not reading a contract, but the bankers who engaged in highly risky loans and then were made whole by the tax payers were ignored by you?
Read Dave M.'s post. He explains it as well.
400+ million for the students canceled (so far). 250+ billion for the greedy corporate bastards. Sad
And lying they absolutely have!
During the pandemic which according to saint joey is over so that argument is moot. 36% of Americans go to college which should provide them with an income 84% higher than a HS education. Payments for tuition loans were suspended during the pandemic and beyond. Why should the remaining 64% of Americans have to pay for someone who should be able to pay for their loans.
This is a vote buying scheme that had little chance of being enacted from the start. Now saint joey can blame it on the republicans so it is a win for him. Hard to find a tax or giveaway that politicians don't like.
It a means to satisfy the predatory lenders greed and keep them voting consrvative republican skud and nothing more.
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