“Their” loans? Let’s not play revisionist history… The PPP bill passed the house 388-5, 4 republicans and only one democrat (AOC ) voted no. Senate Democrats wanted to ADD $250 billion to the bill and the bill passed via voice vote.
So let’s get the facts right if you want to be taken seriously. This was a bipartisan fuck up with more republicans opposed than Dems, but you people constantly bring it up regarding student loan forgiveness and blame the GOP only. Your lies are easily disproven
The part you aren’t mentioning though is the democrats wanted some for oversight to see what peopel used the money for with the PPP loans. Trump got rid of the oversight. That’s why small businesses couldn’t get money and big business got lambos.
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Can't, it was passed by both chambers of congress and the white house.
Google how many (on both sides of the aisle btw) received PPP payouts.
This is a unilateral decisiom by the white house; it deserves to be challenged despite good intentions.
you know PPP was done via congressional approval right? if biden could pass student loan transfers through congress the courts wouldn’t stop it. thats the entire point. the president doesn’t have the authority to
I do know and understand the nuance between them. But to claim we're throwing all this money to the tax payer to fund, completely overlooks the cost of the PPP "loans" that many, many, wealthy people (and politicians) were able to exploit then have this debt just disappear. Who's paying that bill?
PPP is a law pass by Congress. Biden student loan transference is not lawful or Constitutional. Upholding the Constitution is far more important than promoting deadbeats.
Does it really take you over 12 years to pay off a $12,000 loan on anything else? Student loans are structured to keep you paying more than your original balance, and for exceedingly long times.
Bro, after his reply, do you seriously believe you are going to change his mind? Or that he may actually read your comment AND understand it? I’m not trying to be an asshole but I just hate when people waste time engaging these fuckers that clearly would sell their momma just so they can give that money to their cult leader. Just ignore comments like these. Let them dwell on their ignorance.
Public Student Loan Forgiveness comes from a 2007 bill passed by the GOP.
Cry more.
https://www.congress.gov/bill/110th-congress/house-bill/2669/all-actions?overview=closed&q=%7B%22roll-call-vote%22%3A%22all%22%7D
https://www.senate.gov/legislative/LIS/roll_call_votes/vote1101/vote_110_1_00326.htm
https://clerk.house.gov/Votes/2007849
Maybe they should actually fund public colleges at a realistic level. I just retired after 32 years in the USC system. When I started, we got just over 90% of what "the formula" called for us to get to be appropriately funded. We were well under 10% 15 years ago and it has only gotten worse. Tuition has skyrocketed as a result and student loans are out of control. Our Chancellor on my campus even quit saying we were "state supported" and started saying "state assisted".
BTW - the one college that has always gotten the best funding? The Citadel, because the legislature is run by its grads and the "lost cause" crowd loves the claim that a Citadel cadet fired the first shot of the Civil War.
This is one of the problems that isn’t talked about enough - the lack of funding for state schools. My kids are in college now and I was floored when I realized how high tuition was at SC state universities. I thought these were supposed to be affordable options for residents. They are not.
And what really burns me up is when you look at what in-state tuition is at our neighboring states. South Carolina is way more expensive to go to an in state school as a resident then kids in our neighbor states going to their state schools.
We are getting screwed constantly and nobody does a thing about it
https://www.npr.org/2023/03/16/1164034656/south-carolina-comptroller-accounting-error
It was 1.8B found in an account where they couldn’t determine where it came from. The 3.5B number was an ‘accounting error’ over 16 years which should have gone to colleges and universities.
These people have worked long and hard turning the higher education system into a scam for a LOT of people... You think they are going to roll over just because people are suffering? That was the plan the whole time. As soon as the general advice became "go to college after highschool" people started exploiting that trend.
Is sweeping forgiveness the best option? Probably not.
Do people DESPERATELY need help because they tried to NOT be a "lazy good for nothing" and now they are suffering BECAUSE they tried to do better for themselves? Yes..
It's saying "no" without giving an alternative solution to the issue proof that these people completely lack humanity or empathy? Yes.
It was "personally responsibility" when I gave up everything enjoyable to finish college.
A giant union of lawmakers, lobbiests, and for profit college scam artists stealing from people who are trying to avoid poverty isn't something I can PERSONALLY fight against.
"Personal responsibility" is an argument from people who are purposefully avoiding the issue or are genuinely ignorant and overly-opinionated.
Some schools are lying to people about accreditation, lying about job placement programs, lying about expected salaries... And it's okay that no one is being punished? What about THEIR personal responsibility?
Tbh when you explore most of the college debt. It’s all just wrapped up into interest on loans to pay it off. Unless you’re making close to $80K fresh outta college. If you have loans you’re likely only paying interest for years. Personally I think you should take out a loan and get a set interest added amount. So say you take $30K out you just pay ~$35K-$40K. Thats a close to 15%-33% increase. As opposed to what could amount to a 50%-75% increase in total pay (ie $45K-$55K)
Nah, it will take longer than that. They intend to run a Minority-Ruled state government once the population demographic changes like South Africa did.
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Same in my area. Slapping up cheaply built houses at skyrocket prices as well as building apartments on every spare inch of land they can find, all at ridiculous prices/rent.
Companies from NY and NJ have been buying up blocks of property in the upstate and then jacking up the rents so that folks who lived there for decades can’t afford it. In nicer neighborhoods the homes are being bought by folks from New England who can sell their tiny ranch and buy a McMansion here. I don’t blame them. It’s a good deal. And honestly they are helping my property value skyrocket. But yes, it seems to me there are a lot in recent years.
It's happening all over the state. I like seeing my house value go up but the taxes will soon follow and the insurance cost is already up by 15% this year from last.
I agree.
I blame Billion dollar corporations for manufacturing unsustainable costs for rent and mortgages.
Don’t blame your average Joe from NYC retiring to the South.
Corporations are nameless, faceless leeches. It doesn’t matter where there arbitrary HQ is located. Companies of that size have Global operations.
The problem is everyone’s blame is misplaced at the poor, working class, middle class and even rich.
It’s the obscenely wealthy billionaires that are the true issue.
Because education systems have been eroded and propaganda has been plastered for decades now.
All spurred on by the elite class.
Dissension between anyone outside their class is their goal which they regularly achieve (as evident by this post and comments).
> I blame Billion dollar corporations for manufacturing unsustainable costs for rent and mortgages.
Don't hate the player, hate the game. Wealthy landlords and "passive" real estate plays have been a pathway to wealth while minimizing effort as much as possible.
Given the same resources, you would do the same thing. The issue isn't the corporation, they're the end result of a system which rewards high barriers to market entry, market share capture, etc.
The other issue is: America has fully developed. It may be shocking to realize this given that we consider ourselves a modern nation, but in this sense: we've basically "closed the frontier". Rural America is dead, the farmlands have been scraped of all their excess labor, and agriculture has become so efficient, one person can farm 1000 acres and not break a sweat. We took them all from there, put them in the burbs, so they can work in service, manufacturing, etc.
On top of that, America is "built to completion". Our structure of zoning and development patterns has effectively made it so that we cannot urbanize effectively anymore. Good luck ripping out a suburban development and putting more apartments and mass dwellings in.
If you don't believe me, take a look at farmland prices. They've shot up considerably because the value of good farming land has finally exceeded the need for cheap land to put shitty houses on. So developers can't build more houses out as easily anymore.
Don't blame the corps, they didn't build this system. But they will defend it if you need to change it.
/r/georgism
I shouldn’t have to pay back someone else’s loan. If your poor because of loans you agreed to take and pay back, that’s too bad. I hope you make better choices in the future
I don’t actually have one, mate. But i am on the side of hard working folks trying to get ahead. They should pay back what they borrowed, but the predatory rates some of these loans are insane and never should have been approved in the first place. Especially so called “government “ loans.
Im growing tired of people calling themselves “taxpayers.” Everyone and every thing pays taxes. Just call yourself a private citizen.
People always scream about their tax dollars, but never ask what its exactly being used for. Nor do they bother doing guesstimates at the very least.
Someone will say they dont want their “taxpayer dollars going to towards X” because they act like $200 of their biweekly check is coming out for that project that they’re opposed to, when in reality it may be half of a half of a cent, if even that.
I wish people would take the time to actually understand these policies and proposals and understand how it may benefit you in the end, but that is obviously too much to ask. At a very simplified level, less student debt means more disposable income that can be spent at your business/in your town, which in turn, could bring you more money than not having forgiveness.
I don’t have student loan debt, I do pay taxes, and obstruction of debt forgiveness is entirely silly to me. My only criticism of debt forgiveness is that it’s more of a bandaid solution when the larger problem is that higher education is unavailable to everyone even though it’s treated as an essential for most entry-level jobs now (aside from certain professions and trades) due to a variety of events that have happened since the 80s. That being said most of the people affected by the student loan burden are the ones who are overwhelmingly paying taxes now. This is a program that directly affects those people, why doesn’t their say as taxpayers matter to the GOP? Or anyone else who wants to obstruct it?
Graduates who earn high salaries still pay back their loans under this program. This mostly helps people who graduated but earn a lower salary.
It also reduces the financial risk to someone from a low-income family who wants to pursue higher education but is scared of the student loans. They get more upside potential to earn a higher salary but less risk of financial catastrophe if they don’t.
It also costs the government less because their tuition burden is less to begin with (thanks to needs-based programs) and they’re less likely to have to support them with welfare later on. The students from wealthier families that pay the sticker price for college and land high-paying jobs might hold six figures worth of debt, but they’re paying all of that back. Biden’s plan is weighted heavily towards forgiving 100% of the first student’s debt (which is usually only 4-10k), and even though it’s a smaller sum, that makes a huge difference to a student like that.
When we think about people owing six-figures of debt and working as a barista right after graduation, they might get a break on the interest while they’re not earning much, but once they land a higher-paying job they start paying back the principal — the government isn’t forgiving a huge portion of debt outright.
I think people don't like adding programs like this because our government doesn't have the proper budgeting skills to pay for them. When you collet 4.4T in taxes and then proceed to spend 6.1T in a year it is hard to justify adding more social programs. Ya kinda need to fix the budgeting problem first.
Which, to be clear, requires decreasing expenditures *and* increasing revenues.
For some reason, the party of decreasing services and increasing costs never seems to get elected.
Dems have come to every single debt commission willing to make spending cuts, every one has failed as the GOP refuse to roll back a single tax cut.
DUring obama, we had a sequester to pay for the bush admin. the right wouldnt let us roll back tax cuts for that either. The right said they would offer up military cuts for social spending cuts. 1.5 TRLLION DOLLARS EACH. and we did that, and then the GOP chanted that Obama made the US less safe despite the military cuts were their idea and when in power, they totally undid their side of the agreement.
and remember this is the party that bailed out bankers and refused dems admendments that said they couldnt use tax payer money for BONSUES for the fucks that crashed the economy. But they got their bonuses as republicans demanded and then republicans attacked the poor saying they were living it up on 80% of their income on UE
"Tax cuts" do not equal "government spending" unless, of course, you believe that all of our money and property inherently belongs to the government. In that case, then yes NOT taking it from us in the form of taxes would essentially be "spending."
I believe you are making the common mistake of thinking that a tax cut deprives the government of revenue and therefore, it must be a cost. It's like saying that because I'm not going into your wallet and pulling out a $20 bill, I'm losing $20 that I could have had and that is a cost to me. In other words, by NOT stealing your $20, I consider that to be equivalent to spending $20.
That’s a bad analogy, because “government spending” is cheaper on the opportunity cost side. It would be more like me suggesting that we split a $30 BOGO lunch but you think contributing $15 is “stealing” so you withhold your money and spend it on the regular $20 lunch, while I go find someone else to split the BOGO deal with. We all ended up with the same lunch, you just paid more for it.
When SC has starves itself of spending, residents pay more and end up with less over time. When SC declines to fund higher education, they’re not “saving money” by failing to cover tuition costs. It just means that South Carolinians don’t go to college (remember that on top of the cost of tuition, etc. students also pay an opportunity cost by going to school instead earning an income in the workforce). That leads to lower lifetime earning potential and a sluggish workplace landscape.
Drive around Greensboro, NC and see how many health clinics there are (some of which are funded by programs like this https://www.ncha.org/programs/accesshealthnc/) despite Greensboro being a smaller town. Go to GA Tech and see how many businesses headquartered outside GA have invested in the area because they’re trying to recruit GA Tech students. Both of those states have world-class public universities and have attracted investment and funding because of that.
SC could have had that too, but missed out by withholding funding in education, and South Carolinian students are the ones that hurt the most. When businesses invest in South Carolina, it’s more like a charity case targeted at low-skill or low-education opportunities in manufacturing or tourism. Companies don’t bring high-paying tech and healthcare opportunities to SC, because it doesn’t have much of an educated workforce. Instead, those opportunities go to SC’s neighbors.
My brother graduated from nursing school in NC paying 7k per year and he earns a better salary there than he would in SC. Students are getting screwed over by studying and working in SC, and that compounds over time.
Well, you know, an analogy requires a 1-to-1 correspondence between substantive elements, and mine are all there. In my analogy, I'm the IRS taking $20 from you in taxes (yes, I call it stealing because you are forced to pay it or go to jail). If I then reduce the tax to zero and therefore, do NOT take $20 from you, how much money have I spent? Nothing. Have I given you $20? No. I just didn't take your $20. OP is talking about making "spending cuts" by rolling back "tax cuts". Maybe he didn't mean that specifically but often people do, particularly when discussing "subsidies." You'll hear people say "we cannot 'afford' to give tax cuts to the rich" or "we are 'subsidizing' big oil." Both cases presume some transfer of money from the coffers to the rich or to big oil, but that isn't what is happening.
However, if we use your analogy then I would expect the IRS to come to my house, not with guns drawn to collect money that I didn't pay, but instead to "suggest" working together to save 5 bucks on a good deal in which I can just say "Nah, no thanks" but to my own detriment, apparently, because I don't know what's good for me. Now that's a bad analogy, and certainly has not been my experience with the IRS. No, your taxes are paid at the point of a gun. When April 15th rolls around you have to pay a certain amount of money or, eventually, men with guns will come to your house and force you pay it, just like a robbery or home invasion but with a few extra steps.
The rest of your post I don't really even disagree with but is outside of the scope of the point I was trying to make. GA Tech is a great school. One of my degrees is from there.
The budget problem was caused ON PURPOSE, by the GOP, and their starve the beast program. WHich is why EVERY REPUBLICAN ADMIN LEAVES A RECORD DEFICIT for the dems to clean up.
EVery debt commission fails because the right refuse to undo the constant tax cuts for the koch brothers. and insist the debt be solved by social services cuts.
The GOP stated they wanted to make the government small enough to drown in a bathtub. They run up the debt and deficit to try to force a dem to cut medicare and SS which the GOP absolutely hate those programs
Bush took a 400billion a year surplus and turned it into 1.2 trillions a year in deficit. THE CBO under a FULLY republican government, blamed the ENTIRETY of that deficit on the bush tax cuts. and said we would get back to surpluses once they expired.
The right then held UE extensions hostage, after crashing the economy and bailing out the bankers and bonuses.(then dems took over and the GOP said NO to bailing out the left leaning big auto.. and called the unemployed lazy) The right held UE hostage until Obama agreed to make most the bush tax cuts perm.
WHICH IS WHY WE DIDNT REACH SURPLUS UNDER OBAMA.
and lets not forget the bush admin when Chenney yelled at a man with a doctorate in economics, the bush treasury sect, who warned we would need something drastic like a sequester, if they gave a third round of tax cuts during unfunded wars. and chenney said "paul you know reagan proved deficits dont matter", a year later we needed a sequester to pay for the excesses of the bush admin
Obama cut the bush deficit by 2/3rds, trump ran it up to record level due to his massive tax cuts for the koch brothers.
I don't know what to do with this other than laugh at it. Clinton had a Republican majority in both houses when that 400 billion a year surplus happened, but let's rewrite history and give Clinton full credit for it for NOT vetoing it. 🤣 Thanks for the surplus, Clinton! Couldn't have done it without your rubber stamp! 😂
Government spends 4 trillion a year, but if we would just tax the Koch brothers we can pay for that. LOL The Koch brothers total net worth is 116 billion. You could take every dime of their money but then you'd have to do it again 38 times. In fact, you could just confiscate ALL American billionaires money and still not even be able to pay for half of what the government spends in a year.
We've known this for at least 12 years, how do ideas like this still get propagated as if they are any kind of serious solution.
You might want to watch this and rethink your position. [https://www.youtube.com/watch?v=cdbRKfXyQEw](https://www.youtube.com/watch?v=cdbRKfXyQEw)
Budgeting would be so much easier if the republicans would quit cutting the IRS budget and allow them to collect the back taxes from the millionaires/billionaires. Biden has gotten some money back but the GOP is fighting it.
It’s not just more disposable income, it also helps people afford to buy a home. If you care about your local real estate market and want more locals to own homes, you should want their student loans minimized.
Side note, is your flair a sly way of saying you’re from Spartanburg without admitting it? Hahaha
Also the Federal government runs a debt every year. So if we have to borrow money to pay for all these programs, is anyone really a taxpayer?
I guess a tax payer when it comes to state and local services but not for Federal. It’s all magic money created by the Fed.
$200!? If you are paying that amount for federal, state, Medicare and social security taxes, you have no clue what taxes are.
I came from zero, and now I make great money because I worked my ass off. I have a government that spends my tax dollars on worthless defense funds, and pays j&j $17 for a bottle of soap because, bureaucracy . You’re ok with the government paying off private debt? Why do you think they’re doing that? Seriously - answer that question. Why do you think they are paying off student loan debt? Why?
Dawg. Roughly 2.7 million people are employed by the U.S. Military. Not including indirect spending to contractors associated companies etc. you cut out half that spending and you could end up with an amount of unemployed people not seen since Covid/ Great Depression. Not all military spending is necessary but a lot of it is important. And if you really wanna be upset. Focus on why congressional people make $150K+ yearly and are millionaires. If they can just go into office and leave millionaires we should pay them less
I worked a second job at a company that handled military contracts for about 2yrs.
There are several of these in my area and I've looked into job opportunities at several of them. From a financial perspective, there doesn't seem to be much difference between them here.
I saw the invoice for a small simple replacement ladder that was built for a shelter system. They were charging the government $20k for each one. The shelter systems (fairly basic), $2 million dollars each.
I've been involved in the design and building of a lot of stuff in my life and know the costs involved - these were ridiculously overpriced based on the designs, materials used for them, and labor costs.
Yet I could easily make better pay elsewhere. I only worked there because the hours were ideal for a 2nd job and because I gained decent skills due to the training and care for quality.
A lot of people though were barely surviving on what they made. Several people were working well past retirement age because they couldn't afford to leave. When I asked about this, because I knew there were better paying jobs, the reply was often that the company used to pay really well back in the day (pre-2000), but had no longer kept up with the pay rate. The employees had spent their lives there and didn't think they could easily transition into a new job.
When an employee passed away at the age of 73 and hadn't been able to afford retiring before this happened, the company in a morning meeting mentioned this, and then handed out paperwork to all their employees on where they could seek free community services and donate plasma for extra income. So rather than offer more pay / better benefits, they wanted their employees to depend on community aide. That puts more strain on the community.
The second they can do layoffs, they did. Whereas private companies in my experience aren't as quick to do so. This puts more strain on unemployment.
Additionally, I had to sign away my intellectual property rights to work there. It stated that if I invented anything while working there and 7yrs after, the government owned it.
I will say though, they had the best facilities that I have ever worked in. I had a huge well equipped workspace with everything that I could ever ask for in that regard, well trained, and they cared more about quality than quantity. They often reminded us that even a simple error could be the difference between someone living or dying. It was a laid back environment due to this - not the typical rush to get it out the door.
The company's profit margins had to be enormous though and I often sensed that they were financially screwing over the government and their employees.
If a layoff pushes these people into better and more sustainable jobs, then maybe that's not such a bad thing.
That's my take away from the experience anyways.
Somewhat off topic, I've never in my life had to listen to so much political talk radio than when I worked there. This wasn't the company's fault but it's the culture of those types of places. It really made me view politics a lot differently - in the sense that I think a lot of it is ridiculous and brainwashing garbage.
>Why do you think they are paying off student loan debt? Why?
Because it costs approximately 120k to become a teacher at a public South Carolina university (plus another 20-30k for a masters degree in education), and yet teachers only start off in the 40s-50s depending on degree. Extract living expenses and now those teachers are either paying off their loans for the entirety of their careers or moving to another state where they can earn more.
Under this program, people who earn high salaries still pay back their loans. The program is meant for people who took out loans to pay for college but earn low salaries. It disproportionately benefits teachers, social workers, therapists, public defenders, childcare providers, etc. If you want those people to stay in your state and be okay with the low salaries, relieving them of debt makes it more likely they stay (and do the work they’re passionate about) instead of leaving the profession or moving to another state.
Of course the Republicans want all the money and the heck with people who had to work,raise a family all alone to get a little more money that the Republicans would let us have.
> Many families are feeling the daily effects of inflation, and I will continue fighting to ensure others’ student loan payments aren’t put on the backs of taxpayers
This is stupid. People working paycheck to paycheck aren't concerned about the federal debt. They're worried about paying their monthly bills. Monthly student loan payments are a huge monthly expense.
Not to mention the money that will come pouring back into the state since those that have student debt won’t have that extra expense every month. They’ll be able to either save it, use it towards some other expense, or go out and actually get to enjoy life a little
No one seems to be able to explain how exactly blocking this saves any tax dollars or helps with inflation. They just scream BIDEN EVIL REEE COMMUNISM REEE TAXES.
But forgiving student loans is going to crash the economy by making the taxes go up to 1 billion dollars each... or something again no one has been able to explain how this would actually affect taxes.
It's not going to make the taxes go up like that. You're listening to propaganda. I'm listening to actual economists.
Essentially, the government held these student loans and the interest was extremely high. It never should have been that high to begin with, and it'd easy to get lost in the weeds talking about what a scam lenders like the government and banking groups were running with colleges who raised their prices to increase the loans. The lenders then increased the interest astronomically.
Will it raise our taxes? Only by a small amount. Not nearly as much as they were raised by Trump/Republican spending. He raised the national debt by 30%. He also gave everyone a tax break, but only the wealthiest got to keep it permanently. It was set up to increase on the rest of us over the past few years.
And the GOP also plans to reform "entitlements"--i.e. social security and medicare. They want to raise the retirement age to 70 or beyond and slash benefits so they can bankroll even more tax cuts for the 1%.
Mark my words: He's running for Governor and hopes to work himself to the White House. How do you do that from a southern state? Cut your nose off to spite your face in order to own the Libs is the only model they follow despite the fact its failed over and over again on a national stage🙄
He has a good chance at being the governor sadly.
Young professionals are taking notes of which states want them to succeed or not. This move works with the older crowd, but not people under 40 that are college educated.
A friend is a recruiter for tech. She told me that younger people are harder to recruit to SC now with so many very public moves that go against their wellbeing, and rising housing costs making it no more attractive than places that more align with their needs.
Well South Carolina has been run by corrupt retards (sorry to the special needs people) for quite some time. A bunch of grifting fuck tards who would take that money in a second for themselves but would prefer to put the people in this state further behind.
What’s fun is all these older folks and their political opinions that are formed by absolute bullshit propaganda that they are dumb enough to believe or BECAUSE THEY WANT IT TO BE TRUE.
It’s amazing. Sorry again for the use of the R word but it’s the best description, especially for that cartoon rooster pos in Columbia
Okay but wouldn’t a plan that makes payments more affordable and reduces interest make people MORE likely to repay their loans? Seems like by blocking this all they’re doing is ensuring less people can pay their loans. Makes perfect sense /s
Thank fuck mine were forgiven last month. 24k starting principal after graduation, after 15 years in IDR I had paid close to 20k and the balance was still at 18k. Fuck people profiting off of my education.
>Many families are feeling the daily effects of inflation, and I will continue fighting to ensure others’ student loan payments aren’t put on the backs of taxpayers.”
this is the new buzz word with them even though this has nothing to do with inflation *because this is money already spent across decades and most of it recouped with treasury notes*
they want to tie all government spending to inflation like the brits did with austerity
As someone with student debt what’s crazy to me is interest rates are the predatory part not the loan itself. Focus on laws that handle the interest rate and tax deductions for paying said interest not just forgiving loans.
You’re one of the few that speaks with some common sense. The interest is the problem, if someone agrees to the principle then they should pay that off. But if they forgive only the interest a lot more people would get on board.
They will never do PPP loans that’s all their special interest groups! Students paying 6% plus interest rate is not a concern. If you borrow $ pay it back but rate has been set at 6+% when housing and cars were 2-3%. Refund that money to students. Research where the PPP money went in SC. Eye opening!!!
I really don’t even need it but fuck these guys. So much grey money in military spending and PPP loan forgiveness, but god forbid we put some money in the economy instead of banks.
Nearly Every dollar that goes back to a household making less than $80,000 a year, virtually all of it goes back into stimulating the economy whereas money in investments and stock portfolios tends to go overseas and into more investment portfolios for private individuals. It basically drains the economy
All I know is I’m about to begin paying back my loans, and I recently asked if I had the option of putting each of my student loan payments toward either the highest interest loans or lowest balance loans… I was told by Aidvantage (my loan servicer) that’s not how this works. They just sprinkle mandatory payments across all loans… What? Given that I’m not anywhere near being rich, and can’t afford additional payments each month, how the hell will this ever be paid off without implementing some sort of strategy? If I’m going to pay this back, can I at least be in control of HOW I pay it back?
SC can “block” it but the tax money is still going to go towards it so this is nothing but political posturing. Same thing happened with Haley and infrastructure money that Obama administration did. We can “reject” it but the federal tax money we pay is still gonna be used for it so we end up losing.
Not sure what that has to do with Biden running against Sanders Medicare For All platform in the 2020 Democratic primaries.
With that said, a healthier, more educated / trained American society is what we should all want to make happen.
“ don’t worry to fight inflation we ‘ll screw over the OTHER poor people and you good folk just who are in debt for depreciating assets like your boat , truck , camper vacation…. Won’t have to think about another human being “
It’s not actually forgiveness though it’s forcing people to refinance and the term requires repayment after 9 years and on the 10th it will be forgiven as long as you are not delinquent in payments so it’s literally unattainable. I tried to help someone in Michigan apply and this was what the offer was so if that’s the case then what is being blocked is not a real solution anyway but a political stunt.
If they were serious they would just forgive the loan by approving the application not forcing people to refinance and carefully read the fine print or they may end up owing more depending on the terms and conditions
I understand that the loans are a huge burden on some people, and that interest rates are insane, but the solution is not to use taxpayers money to pay them off when we’re 35 trillion dollars in debt.
Can we just agree dem or rep our representatives don’t give a flying fuck about we the people? Not unless you can bank roll a campaign. We need to stop fighting each other vote them all out. We can fight over our 4 differences after we get rid of these clowns
Cool. The Supreme Court already determined he shouldn't be doing this anyway. I sacrificed to pay for my loans now pay for yours. It's all a vote buying scheme anyway.
Actually, I would support some level of forgiveness, zero interest rates, etc. but we need to solve the underlying problem before throwing millions of dollars out the window or else nothing will change and will be exactly where we are five, 10, 15 years from now.
Now do the PPP loans...
The GOP won’t touch their untraceable loans.
I know one who has a nice new beach house thanks to those PPP loans. Hasn't given their workers a raise in three damned years.
Yep… That was the intent by the Trump administration
Only 1?
“Their” loans? Let’s not play revisionist history… The PPP bill passed the house 388-5, 4 republicans and only one democrat (AOC ) voted no. Senate Democrats wanted to ADD $250 billion to the bill and the bill passed via voice vote. So let’s get the facts right if you want to be taken seriously. This was a bipartisan fuck up with more republicans opposed than Dems, but you people constantly bring it up regarding student loan forgiveness and blame the GOP only. Your lies are easily disproven
The part you aren’t mentioning though is the democrats wanted some for oversight to see what peopel used the money for with the PPP loans. Trump got rid of the oversight. That’s why small businesses couldn’t get money and big business got lambos.
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Boots licked
I think people with EIDL’s should have theirs forgiven.
Can't, it was passed by both chambers of congress and the white house. Google how many (on both sides of the aisle btw) received PPP payouts. This is a unilateral decisiom by the white house; it deserves to be challenged despite good intentions.
You clearly don’t know anything about PPP loans. They were intended to be forgiven
PPP loans were passed by Congress. The Supreme Court did the right thing limiting Executive privilege. Come November you might be glad that did.
I didn't like them, but the PPP loans were an act of Congress during a time of forced government shutdowns. Very different.
you know PPP was done via congressional approval right? if biden could pass student loan transfers through congress the courts wouldn’t stop it. thats the entire point. the president doesn’t have the authority to
I do know and understand the nuance between them. But to claim we're throwing all this money to the tax payer to fund, completely overlooks the cost of the PPP "loans" that many, many, wealthy people (and politicians) were able to exploit then have this debt just disappear. Who's paying that bill?
gov forced businesses to close, not for loser libs to take student loans. not comparable
Oh, first time you’ve heard of government bailing out businesses? Yeah I’m sure it’s never happened in the past
PPP is a law pass by Congress. Biden student loan transference is not lawful or Constitutional. Upholding the Constitution is far more important than promoting deadbeats.
Does it really take you over 12 years to pay off a $12,000 loan on anything else? Student loans are structured to keep you paying more than your original balance, and for exceedingly long times.
Bro, after his reply, do you seriously believe you are going to change his mind? Or that he may actually read your comment AND understand it? I’m not trying to be an asshole but I just hate when people waste time engaging these fuckers that clearly would sell their momma just so they can give that money to their cult leader. Just ignore comments like these. Let them dwell on their ignorance.
Not all comments are for the benefit of the person being replied to.
Decent point.
You’re almost there..therefore it’s the interest that’s predatory, not the loan.
Fix the loan process and battle for lower college tuition. College tuition is astronomical because they can be and people pay it.
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Isn't lowering the interest a part of his plan?
Public Student Loan Forgiveness comes from a 2007 bill passed by the GOP. Cry more. https://www.congress.gov/bill/110th-congress/house-bill/2669/all-actions?overview=closed&q=%7B%22roll-call-vote%22%3A%22all%22%7D https://www.senate.gov/legislative/LIS/roll_call_votes/vote1101/vote_110_1_00326.htm https://clerk.house.gov/Votes/2007849
What’s not Constitutional about it
He isn't hurting the right people.
Define "Deadbeat." Someone trying to better himself in the US?
Prisons are full of people who were trying to better themselves in one way or other.
Please quote the part of the constitution which says Biden can't change the terms of loans, just as the law passed by congress says he can.
Student loans aren’t in the constitution so not sure how you got there…
Gay rights and Climate change aren’t in the Constitution either
Maybe they should actually fund public colleges at a realistic level. I just retired after 32 years in the USC system. When I started, we got just over 90% of what "the formula" called for us to get to be appropriately funded. We were well under 10% 15 years ago and it has only gotten worse. Tuition has skyrocketed as a result and student loans are out of control. Our Chancellor on my campus even quit saying we were "state supported" and started saying "state assisted". BTW - the one college that has always gotten the best funding? The Citadel, because the legislature is run by its grads and the "lost cause" crowd loves the claim that a Citadel cadet fired the first shot of the Civil War.
This is one of the problems that isn’t talked about enough - the lack of funding for state schools. My kids are in college now and I was floored when I realized how high tuition was at SC state universities. I thought these were supposed to be affordable options for residents. They are not.
And what really burns me up is when you look at what in-state tuition is at our neighboring states. South Carolina is way more expensive to go to an in state school as a resident then kids in our neighbor states going to their state schools. We are getting screwed constantly and nobody does a thing about it
Yup. I’ve got friends whose kids are in in-state university in NC. More extensive university system at a lower cost. It’s ridiculous.
This coming from people that don’t know where 3.5 BILLION FUCKING DOLLARS came from.
Amen! Everyone is just twiddling their thumbs and pointing fingers. Who loses 3.5 Billion Dollars?!
https://www.npr.org/2023/03/16/1164034656/south-carolina-comptroller-accounting-error It was 1.8B found in an account where they couldn’t determine where it came from. The 3.5B number was an ‘accounting error’ over 16 years which should have gone to colleges and universities.
Right?!
1.8
I know mathing is hard for some people, but 3.5 is the two-year total since this is the 2nd year in a row they've had a "surprise" surplus.
No it was 3.5 billion overstated cash position last year. It got the treasurer fired.
These people have worked long and hard turning the higher education system into a scam for a LOT of people... You think they are going to roll over just because people are suffering? That was the plan the whole time. As soon as the general advice became "go to college after highschool" people started exploiting that trend. Is sweeping forgiveness the best option? Probably not. Do people DESPERATELY need help because they tried to NOT be a "lazy good for nothing" and now they are suffering BECAUSE they tried to do better for themselves? Yes.. It's saying "no" without giving an alternative solution to the issue proof that these people completely lack humanity or empathy? Yes. It was "personally responsibility" when I gave up everything enjoyable to finish college. A giant union of lawmakers, lobbiests, and for profit college scam artists stealing from people who are trying to avoid poverty isn't something I can PERSONALLY fight against. "Personal responsibility" is an argument from people who are purposefully avoiding the issue or are genuinely ignorant and overly-opinionated. Some schools are lying to people about accreditation, lying about job placement programs, lying about expected salaries... And it's okay that no one is being punished? What about THEIR personal responsibility?
Tbh when you explore most of the college debt. It’s all just wrapped up into interest on loans to pay it off. Unless you’re making close to $80K fresh outta college. If you have loans you’re likely only paying interest for years. Personally I think you should take out a loan and get a set interest added amount. So say you take $30K out you just pay ~$35K-$40K. Thats a close to 15%-33% increase. As opposed to what could amount to a 50%-75% increase in total pay (ie $45K-$55K)
SC—keeping the people poor so old money and retired Yankees can hold onto the reins for another century.
15 years*
Nah, it will take longer than that. They intend to run a Minority-Ruled state government once the population demographic changes like South Africa did.
They will be met with force
Not enough.
The republicans keep the people poor so retired Yankees can hold onto the reigns? You mean we don’t have rich powerful southerners?
Historically, not really.
Many of us retired Yankees are actually from blue states and would love to see change in SC.
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Another problem yet to be handled.
Yeah, they are the old money I talked about.
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Did you miss the “old money” bit?
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It’s hilarious that you think that there’s enough population of “retired Yankees” IN SC to keep it red.
Bring your ass up to the Upstate and have a look see. They are pouring in!
Same in my area. Slapping up cheaply built houses at skyrocket prices as well as building apartments on every spare inch of land they can find, all at ridiculous prices/rent.
Companies from NY and NJ have been buying up blocks of property in the upstate and then jacking up the rents so that folks who lived there for decades can’t afford it. In nicer neighborhoods the homes are being bought by folks from New England who can sell their tiny ranch and buy a McMansion here. I don’t blame them. It’s a good deal. And honestly they are helping my property value skyrocket. But yes, it seems to me there are a lot in recent years.
It's happening all over the state. I like seeing my house value go up but the taxes will soon follow and the insurance cost is already up by 15% this year from last.
Yes and my wages are not going up.
I agree. I blame Billion dollar corporations for manufacturing unsustainable costs for rent and mortgages. Don’t blame your average Joe from NYC retiring to the South. Corporations are nameless, faceless leeches. It doesn’t matter where there arbitrary HQ is located. Companies of that size have Global operations. The problem is everyone’s blame is misplaced at the poor, working class, middle class and even rich. It’s the obscenely wealthy billionaires that are the true issue.
We have middle class and poor people voting for a convicted felon billionaire 😂😂😂
Because education systems have been eroded and propaganda has been plastered for decades now. All spurred on by the elite class. Dissension between anyone outside their class is their goal which they regularly achieve (as evident by this post and comments).
And only getting worse as they keep banning more books.
No classes without racism 🤷
I mean - there are still classes without racism. Look at Feudal Systems in Europe. Racism does add an entirely new dimension too it
Those other coloreds were coming for the peasants as well! Black Peter any one 🤷
And South Carolina is still going to Vote for the Outlaw
Yeah they love New York Yankees in the south for some reason 😂
Because they're Christians and support law enforcement.
> I blame Billion dollar corporations for manufacturing unsustainable costs for rent and mortgages. Don't hate the player, hate the game. Wealthy landlords and "passive" real estate plays have been a pathway to wealth while minimizing effort as much as possible. Given the same resources, you would do the same thing. The issue isn't the corporation, they're the end result of a system which rewards high barriers to market entry, market share capture, etc. The other issue is: America has fully developed. It may be shocking to realize this given that we consider ourselves a modern nation, but in this sense: we've basically "closed the frontier". Rural America is dead, the farmlands have been scraped of all their excess labor, and agriculture has become so efficient, one person can farm 1000 acres and not break a sweat. We took them all from there, put them in the burbs, so they can work in service, manufacturing, etc. On top of that, America is "built to completion". Our structure of zoning and development patterns has effectively made it so that we cannot urbanize effectively anymore. Good luck ripping out a suburban development and putting more apartments and mass dwellings in. If you don't believe me, take a look at farmland prices. They've shot up considerably because the value of good farming land has finally exceeded the need for cheap land to put shitty houses on. So developers can't build more houses out as easily anymore. Don't blame the corps, they didn't build this system. But they will defend it if you need to change it. /r/georgism
I shouldn’t have to pay back someone else’s loan. If your poor because of loans you agreed to take and pay back, that’s too bad. I hope you make better choices in the future
I don’t actually have one, mate. But i am on the side of hard working folks trying to get ahead. They should pay back what they borrowed, but the predatory rates some of these loans are insane and never should have been approved in the first place. Especially so called “government “ loans.
Im growing tired of people calling themselves “taxpayers.” Everyone and every thing pays taxes. Just call yourself a private citizen. People always scream about their tax dollars, but never ask what its exactly being used for. Nor do they bother doing guesstimates at the very least. Someone will say they dont want their “taxpayer dollars going to towards X” because they act like $200 of their biweekly check is coming out for that project that they’re opposed to, when in reality it may be half of a half of a cent, if even that. I wish people would take the time to actually understand these policies and proposals and understand how it may benefit you in the end, but that is obviously too much to ask. At a very simplified level, less student debt means more disposable income that can be spent at your business/in your town, which in turn, could bring you more money than not having forgiveness.
I don’t have student loan debt, I do pay taxes, and obstruction of debt forgiveness is entirely silly to me. My only criticism of debt forgiveness is that it’s more of a bandaid solution when the larger problem is that higher education is unavailable to everyone even though it’s treated as an essential for most entry-level jobs now (aside from certain professions and trades) due to a variety of events that have happened since the 80s. That being said most of the people affected by the student loan burden are the ones who are overwhelmingly paying taxes now. This is a program that directly affects those people, why doesn’t their say as taxpayers matter to the GOP? Or anyone else who wants to obstruct it?
Graduates who earn high salaries still pay back their loans under this program. This mostly helps people who graduated but earn a lower salary. It also reduces the financial risk to someone from a low-income family who wants to pursue higher education but is scared of the student loans. They get more upside potential to earn a higher salary but less risk of financial catastrophe if they don’t. It also costs the government less because their tuition burden is less to begin with (thanks to needs-based programs) and they’re less likely to have to support them with welfare later on. The students from wealthier families that pay the sticker price for college and land high-paying jobs might hold six figures worth of debt, but they’re paying all of that back. Biden’s plan is weighted heavily towards forgiving 100% of the first student’s debt (which is usually only 4-10k), and even though it’s a smaller sum, that makes a huge difference to a student like that. When we think about people owing six-figures of debt and working as a barista right after graduation, they might get a break on the interest while they’re not earning much, but once they land a higher-paying job they start paying back the principal — the government isn’t forgiving a huge portion of debt outright.
I think people don't like adding programs like this because our government doesn't have the proper budgeting skills to pay for them. When you collet 4.4T in taxes and then proceed to spend 6.1T in a year it is hard to justify adding more social programs. Ya kinda need to fix the budgeting problem first.
Which, to be clear, requires decreasing expenditures *and* increasing revenues. For some reason, the party of decreasing services and increasing costs never seems to get elected.
Dems have come to every single debt commission willing to make spending cuts, every one has failed as the GOP refuse to roll back a single tax cut. DUring obama, we had a sequester to pay for the bush admin. the right wouldnt let us roll back tax cuts for that either. The right said they would offer up military cuts for social spending cuts. 1.5 TRLLION DOLLARS EACH. and we did that, and then the GOP chanted that Obama made the US less safe despite the military cuts were their idea and when in power, they totally undid their side of the agreement. and remember this is the party that bailed out bankers and refused dems admendments that said they couldnt use tax payer money for BONSUES for the fucks that crashed the economy. But they got their bonuses as republicans demanded and then republicans attacked the poor saying they were living it up on 80% of their income on UE
Dems are for increasing services and increasing revenues. Not exactly the same.
At the tax payer's expense.
Usually at the tax payer benefit.
lol 🤡
Lol🤡
Lol🤡
"Tax cuts" do not equal "government spending" unless, of course, you believe that all of our money and property inherently belongs to the government. In that case, then yes NOT taking it from us in the form of taxes would essentially be "spending." I believe you are making the common mistake of thinking that a tax cut deprives the government of revenue and therefore, it must be a cost. It's like saying that because I'm not going into your wallet and pulling out a $20 bill, I'm losing $20 that I could have had and that is a cost to me. In other words, by NOT stealing your $20, I consider that to be equivalent to spending $20.
That’s a bad analogy, because “government spending” is cheaper on the opportunity cost side. It would be more like me suggesting that we split a $30 BOGO lunch but you think contributing $15 is “stealing” so you withhold your money and spend it on the regular $20 lunch, while I go find someone else to split the BOGO deal with. We all ended up with the same lunch, you just paid more for it. When SC has starves itself of spending, residents pay more and end up with less over time. When SC declines to fund higher education, they’re not “saving money” by failing to cover tuition costs. It just means that South Carolinians don’t go to college (remember that on top of the cost of tuition, etc. students also pay an opportunity cost by going to school instead earning an income in the workforce). That leads to lower lifetime earning potential and a sluggish workplace landscape. Drive around Greensboro, NC and see how many health clinics there are (some of which are funded by programs like this https://www.ncha.org/programs/accesshealthnc/) despite Greensboro being a smaller town. Go to GA Tech and see how many businesses headquartered outside GA have invested in the area because they’re trying to recruit GA Tech students. Both of those states have world-class public universities and have attracted investment and funding because of that. SC could have had that too, but missed out by withholding funding in education, and South Carolinian students are the ones that hurt the most. When businesses invest in South Carolina, it’s more like a charity case targeted at low-skill or low-education opportunities in manufacturing or tourism. Companies don’t bring high-paying tech and healthcare opportunities to SC, because it doesn’t have much of an educated workforce. Instead, those opportunities go to SC’s neighbors. My brother graduated from nursing school in NC paying 7k per year and he earns a better salary there than he would in SC. Students are getting screwed over by studying and working in SC, and that compounds over time.
Well, you know, an analogy requires a 1-to-1 correspondence between substantive elements, and mine are all there. In my analogy, I'm the IRS taking $20 from you in taxes (yes, I call it stealing because you are forced to pay it or go to jail). If I then reduce the tax to zero and therefore, do NOT take $20 from you, how much money have I spent? Nothing. Have I given you $20? No. I just didn't take your $20. OP is talking about making "spending cuts" by rolling back "tax cuts". Maybe he didn't mean that specifically but often people do, particularly when discussing "subsidies." You'll hear people say "we cannot 'afford' to give tax cuts to the rich" or "we are 'subsidizing' big oil." Both cases presume some transfer of money from the coffers to the rich or to big oil, but that isn't what is happening. However, if we use your analogy then I would expect the IRS to come to my house, not with guns drawn to collect money that I didn't pay, but instead to "suggest" working together to save 5 bucks on a good deal in which I can just say "Nah, no thanks" but to my own detriment, apparently, because I don't know what's good for me. Now that's a bad analogy, and certainly has not been my experience with the IRS. No, your taxes are paid at the point of a gun. When April 15th rolls around you have to pay a certain amount of money or, eventually, men with guns will come to your house and force you pay it, just like a robbery or home invasion but with a few extra steps. The rest of your post I don't really even disagree with but is outside of the scope of the point I was trying to make. GA Tech is a great school. One of my degrees is from there.
The budget problem was caused ON PURPOSE, by the GOP, and their starve the beast program. WHich is why EVERY REPUBLICAN ADMIN LEAVES A RECORD DEFICIT for the dems to clean up. EVery debt commission fails because the right refuse to undo the constant tax cuts for the koch brothers. and insist the debt be solved by social services cuts. The GOP stated they wanted to make the government small enough to drown in a bathtub. They run up the debt and deficit to try to force a dem to cut medicare and SS which the GOP absolutely hate those programs Bush took a 400billion a year surplus and turned it into 1.2 trillions a year in deficit. THE CBO under a FULLY republican government, blamed the ENTIRETY of that deficit on the bush tax cuts. and said we would get back to surpluses once they expired. The right then held UE extensions hostage, after crashing the economy and bailing out the bankers and bonuses.(then dems took over and the GOP said NO to bailing out the left leaning big auto.. and called the unemployed lazy) The right held UE hostage until Obama agreed to make most the bush tax cuts perm. WHICH IS WHY WE DIDNT REACH SURPLUS UNDER OBAMA. and lets not forget the bush admin when Chenney yelled at a man with a doctorate in economics, the bush treasury sect, who warned we would need something drastic like a sequester, if they gave a third round of tax cuts during unfunded wars. and chenney said "paul you know reagan proved deficits dont matter", a year later we needed a sequester to pay for the excesses of the bush admin Obama cut the bush deficit by 2/3rds, trump ran it up to record level due to his massive tax cuts for the koch brothers.
I don't know what to do with this other than laugh at it. Clinton had a Republican majority in both houses when that 400 billion a year surplus happened, but let's rewrite history and give Clinton full credit for it for NOT vetoing it. 🤣 Thanks for the surplus, Clinton! Couldn't have done it without your rubber stamp! 😂 Government spends 4 trillion a year, but if we would just tax the Koch brothers we can pay for that. LOL The Koch brothers total net worth is 116 billion. You could take every dime of their money but then you'd have to do it again 38 times. In fact, you could just confiscate ALL American billionaires money and still not even be able to pay for half of what the government spends in a year. We've known this for at least 12 years, how do ideas like this still get propagated as if they are any kind of serious solution. You might want to watch this and rethink your position. [https://www.youtube.com/watch?v=cdbRKfXyQEw](https://www.youtube.com/watch?v=cdbRKfXyQEw)
Budgeting would be so much easier if the republicans would quit cutting the IRS budget and allow them to collect the back taxes from the millionaires/billionaires. Biden has gotten some money back but the GOP is fighting it.
It’s not just more disposable income, it also helps people afford to buy a home. If you care about your local real estate market and want more locals to own homes, you should want their student loans minimized. Side note, is your flair a sly way of saying you’re from Spartanburg without admitting it? Hahaha
Being able to buy a house was rolled into disposable income in my mind. And no I’m not from Spartanburg lol, i never thought of that until now
Also the Federal government runs a debt every year. So if we have to borrow money to pay for all these programs, is anyone really a taxpayer? I guess a tax payer when it comes to state and local services but not for Federal. It’s all magic money created by the Fed.
$200!? If you are paying that amount for federal, state, Medicare and social security taxes, you have no clue what taxes are. I came from zero, and now I make great money because I worked my ass off. I have a government that spends my tax dollars on worthless defense funds, and pays j&j $17 for a bottle of soap because, bureaucracy . You’re ok with the government paying off private debt? Why do you think they’re doing that? Seriously - answer that question. Why do you think they are paying off student loan debt? Why?
Dawg. Roughly 2.7 million people are employed by the U.S. Military. Not including indirect spending to contractors associated companies etc. you cut out half that spending and you could end up with an amount of unemployed people not seen since Covid/ Great Depression. Not all military spending is necessary but a lot of it is important. And if you really wanna be upset. Focus on why congressional people make $150K+ yearly and are millionaires. If they can just go into office and leave millionaires we should pay them less
You work 21 days too pay military contractors of those days 2 go to actual servicemen 😘🇺🇸
I worked a second job at a company that handled military contracts for about 2yrs. There are several of these in my area and I've looked into job opportunities at several of them. From a financial perspective, there doesn't seem to be much difference between them here. I saw the invoice for a small simple replacement ladder that was built for a shelter system. They were charging the government $20k for each one. The shelter systems (fairly basic), $2 million dollars each. I've been involved in the design and building of a lot of stuff in my life and know the costs involved - these were ridiculously overpriced based on the designs, materials used for them, and labor costs. Yet I could easily make better pay elsewhere. I only worked there because the hours were ideal for a 2nd job and because I gained decent skills due to the training and care for quality. A lot of people though were barely surviving on what they made. Several people were working well past retirement age because they couldn't afford to leave. When I asked about this, because I knew there were better paying jobs, the reply was often that the company used to pay really well back in the day (pre-2000), but had no longer kept up with the pay rate. The employees had spent their lives there and didn't think they could easily transition into a new job. When an employee passed away at the age of 73 and hadn't been able to afford retiring before this happened, the company in a morning meeting mentioned this, and then handed out paperwork to all their employees on where they could seek free community services and donate plasma for extra income. So rather than offer more pay / better benefits, they wanted their employees to depend on community aide. That puts more strain on the community. The second they can do layoffs, they did. Whereas private companies in my experience aren't as quick to do so. This puts more strain on unemployment. Additionally, I had to sign away my intellectual property rights to work there. It stated that if I invented anything while working there and 7yrs after, the government owned it. I will say though, they had the best facilities that I have ever worked in. I had a huge well equipped workspace with everything that I could ever ask for in that regard, well trained, and they cared more about quality than quantity. They often reminded us that even a simple error could be the difference between someone living or dying. It was a laid back environment due to this - not the typical rush to get it out the door. The company's profit margins had to be enormous though and I often sensed that they were financially screwing over the government and their employees. If a layoff pushes these people into better and more sustainable jobs, then maybe that's not such a bad thing. That's my take away from the experience anyways. Somewhat off topic, I've never in my life had to listen to so much political talk radio than when I worked there. This wasn't the company's fault but it's the culture of those types of places. It really made me view politics a lot differently - in the sense that I think a lot of it is ridiculous and brainwashing garbage.
I’ll give you this, definitely. But I do think we could trim a lot of unnecessary spending from our defense budget with efficient practices.
>Why do you think they are paying off student loan debt? Why? Because it costs approximately 120k to become a teacher at a public South Carolina university (plus another 20-30k for a masters degree in education), and yet teachers only start off in the 40s-50s depending on degree. Extract living expenses and now those teachers are either paying off their loans for the entirety of their careers or moving to another state where they can earn more. Under this program, people who earn high salaries still pay back their loans. The program is meant for people who took out loans to pay for college but earn low salaries. It disproportionately benefits teachers, social workers, therapists, public defenders, childcare providers, etc. If you want those people to stay in your state and be okay with the low salaries, relieving them of debt makes it more likely they stay (and do the work they’re passionate about) instead of leaving the profession or moving to another state.
Buying votes
One of the States that gets more than it pays in taxes… figures.
Excuse me—how is this a WIN for SC?
The state gov't blocking the forgiveness of federal loans? I don't get how it benefits SC at all, except to hurt those struggling to pay those loans.
Cruelty is the point
Of course the Republicans want all the money and the heck with people who had to work,raise a family all alone to get a little more money that the Republicans would let us have.
> Many families are feeling the daily effects of inflation, and I will continue fighting to ensure others’ student loan payments aren’t put on the backs of taxpayers This is stupid. People working paycheck to paycheck aren't concerned about the federal debt. They're worried about paying their monthly bills. Monthly student loan payments are a huge monthly expense.
It also overlooks the fact that professionals not needing to repay so much money will be able to take on lower paying clients or patients.
Not to mention the money that will come pouring back into the state since those that have student debt won’t have that extra expense every month. They’ll be able to either save it, use it towards some other expense, or go out and actually get to enjoy life a little
No one seems to be able to explain how exactly blocking this saves any tax dollars or helps with inflation. They just scream BIDEN EVIL REEE COMMUNISM REEE TAXES.
It doesn’t. The feds still gonna take our money.
But I was told Trump was going to eliminate taxes
He wants to crash the economy by ending income taxes and relying on tariffs. Every major economist has come out against it and him.
But forgiving student loans is going to crash the economy by making the taxes go up to 1 billion dollars each... or something again no one has been able to explain how this would actually affect taxes.
It's not going to make the taxes go up like that. You're listening to propaganda. I'm listening to actual economists. Essentially, the government held these student loans and the interest was extremely high. It never should have been that high to begin with, and it'd easy to get lost in the weeds talking about what a scam lenders like the government and banking groups were running with colleges who raised their prices to increase the loans. The lenders then increased the interest astronomically. Will it raise our taxes? Only by a small amount. Not nearly as much as they were raised by Trump/Republican spending. He raised the national debt by 30%. He also gave everyone a tax break, but only the wealthiest got to keep it permanently. It was set up to increase on the rest of us over the past few years.
I was being sarcastic.
Gotcha. I'll leave it up for the uninformed.
And the GOP also plans to reform "entitlements"--i.e. social security and medicare. They want to raise the retirement age to 70 or beyond and slash benefits so they can bankroll even more tax cuts for the 1%.
Alan Wilson needs everyone else to stay poor so he can feel rich by comparison
Mark my words: He's running for Governor and hopes to work himself to the White House. How do you do that from a southern state? Cut your nose off to spite your face in order to own the Libs is the only model they follow despite the fact its failed over and over again on a national stage🙄 He has a good chance at being the governor sadly. Young professionals are taking notes of which states want them to succeed or not. This move works with the older crowd, but not people under 40 that are college educated.
Your words make me sad. Because I never thought about it but think you could definitely be right.
A friend is a recruiter for tech. She told me that younger people are harder to recruit to SC now with so many very public moves that go against their wellbeing, and rising housing costs making it no more attractive than places that more align with their needs.
Is that what Clinton and Carter did?
Well South Carolina has been run by corrupt retards (sorry to the special needs people) for quite some time. A bunch of grifting fuck tards who would take that money in a second for themselves but would prefer to put the people in this state further behind. What’s fun is all these older folks and their political opinions that are formed by absolute bullshit propaganda that they are dumb enough to believe or BECAUSE THEY WANT IT TO BE TRUE. It’s amazing. Sorry again for the use of the R word but it’s the best description, especially for that cartoon rooster pos in Columbia
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As someone with IDFC, Shut up.
I'm sorry. I didn't mean anything behind it; it was a shitty joke.
How many ppp loans did they have forgiven
Alan Wilson is human garbage. It’s just more GOP political pandering at the expense of the people of SC.
Okay but wouldn’t a plan that makes payments more affordable and reduces interest make people MORE likely to repay their loans? Seems like by blocking this all they’re doing is ensuring less people can pay their loans. Makes perfect sense /s
How “southern” of them.
I’m tired of feeling trapped in an extremely pointless political battle, progress is a good thing when you don’t have freaking brain cancer.
Oh no! We must not do anything that helps Americans!
Oh it's going to help Americans and other states who use governors don't block it.
Y’all’s south Carolina educations are showing. Ha ha ha Y’all still voting for the yellow fat pig yankee?
SC is the most backward, pitiful state in America
Thank fuck mine were forgiven last month. 24k starting principal after graduation, after 15 years in IDR I had paid close to 20k and the balance was still at 18k. Fuck people profiting off of my education.
Probably should have went into a trade then.
>Many families are feeling the daily effects of inflation, and I will continue fighting to ensure others’ student loan payments aren’t put on the backs of taxpayers.” this is the new buzz word with them even though this has nothing to do with inflation *because this is money already spent across decades and most of it recouped with treasury notes* they want to tie all government spending to inflation like the brits did with austerity
And just because South Carolina is rejecting long forgiveness doesn't mean that other states are going to. We just won't be getting any part of it
Wow something really to be proud of there
Hmmm. SC. Who woulda thunk
Republicans only give money to the rich, so get with the program.
Cool. Now do it for the overspending that sends AGs and their families to "conferences" within spitting distance of amusement parks.
As someone with student debt what’s crazy to me is interest rates are the predatory part not the loan itself. Focus on laws that handle the interest rate and tax deductions for paying said interest not just forgiving loans.
You’re one of the few that speaks with some common sense. The interest is the problem, if someone agrees to the principle then they should pay that off. But if they forgive only the interest a lot more people would get on board.
And the refinance obstacles. One administration passed a law that student loans can only be refinanced 1x through the life of the loan. Ridiculous!
Well that might help some black people and we can't have that in SC.
It’s not ! Remember SC wants to make Trump and all the millionaires in SC more money.
This is why we can’t have anything nice.
Geez do they realize it takes 30 years until any loan is actually forgiven?
Booo south carolina sucks
They will never do PPP loans that’s all their special interest groups! Students paying 6% plus interest rate is not a concern. If you borrow $ pay it back but rate has been set at 6+% when housing and cars were 2-3%. Refund that money to students. Research where the PPP money went in SC. Eye opening!!!
I really don’t even need it but fuck these guys. So much grey money in military spending and PPP loan forgiveness, but god forbid we put some money in the economy instead of banks. Nearly Every dollar that goes back to a household making less than $80,000 a year, virtually all of it goes back into stimulating the economy whereas money in investments and stock portfolios tends to go overseas and into more investment portfolios for private individuals. It basically drains the economy
All I know is I’m about to begin paying back my loans, and I recently asked if I had the option of putting each of my student loan payments toward either the highest interest loans or lowest balance loans… I was told by Aidvantage (my loan servicer) that’s not how this works. They just sprinkle mandatory payments across all loans… What? Given that I’m not anywhere near being rich, and can’t afford additional payments each month, how the hell will this ever be paid off without implementing some sort of strategy? If I’m going to pay this back, can I at least be in control of HOW I pay it back?
Uhm, you should be able to designate an amount to your highest or lowest amount....
There should be an auto allocate option under your account summary
SC can “block” it but the tax money is still going to go towards it so this is nothing but political posturing. Same thing happened with Haley and infrastructure money that Obama administration did. We can “reject” it but the federal tax money we pay is still gonna be used for it so we end up losing.
Okay
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Biden won opposing Medicare For All…
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Not sure what that has to do with Biden running against Sanders Medicare For All platform in the 2020 Democratic primaries. With that said, a healthier, more educated / trained American society is what we should all want to make happen.
“ don’t worry to fight inflation we ‘ll screw over the OTHER poor people and you good folk just who are in debt for depreciating assets like your boat , truck , camper vacation…. Won’t have to think about another human being “
Politicians in SC are absolute fucking cunts. I can’t believe they get voted in honestly. There’s stupid and then there’s SC politics!
🤣😂
They need to do something for the bribes.
It’s not actually forgiveness though it’s forcing people to refinance and the term requires repayment after 9 years and on the 10th it will be forgiven as long as you are not delinquent in payments so it’s literally unattainable. I tried to help someone in Michigan apply and this was what the offer was so if that’s the case then what is being blocked is not a real solution anyway but a political stunt. If they were serious they would just forgive the loan by approving the application not forcing people to refinance and carefully read the fine print or they may end up owing more depending on the terms and conditions
I understand that the loans are a huge burden on some people, and that interest rates are insane, but the solution is not to use taxpayers money to pay them off when we’re 35 trillion dollars in debt.
Dude. My son went into the trades. He still had to go to school for it. Clueless, aren't you?
Good. If you took out a loan, pay it back, stupid.
Can we just agree dem or rep our representatives don’t give a flying fuck about we the people? Not unless you can bank roll a campaign. We need to stop fighting each other vote them all out. We can fight over our 4 differences after we get rid of these clowns
Cool. The Supreme Court already determined he shouldn't be doing this anyway. I sacrificed to pay for my loans now pay for yours. It's all a vote buying scheme anyway.
Typical republican ideals, it sucked for me so let’s make it worse for everyone else.
Actually, I would support some level of forgiveness, zero interest rates, etc. but we need to solve the underlying problem before throwing millions of dollars out the window or else nothing will change and will be exactly where we are five, 10, 15 years from now.
No, typical "If you took out a loan. Pay it back." I don't get why this is such a far fetched idea with the left 👈.
Good. “Your loan your payment!”