Elizabeth Warren wants to CANCEL all STUDENT DEBT

Black Magisterialness

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So basically you’ll be lookin dumb if you actually paid yo $hit off already.

:stopitslime: :martin:

Or if you purposely scaled back your college plans because you were financially responsible and didn’t want to amass an impossible debt - you’ll be losin to the mofos that practiced economic ignorance. Smh.


Thing is student loans weren't really ignorance. It was freely touted to people of ALL walks of life...even people from good upper middle class homes. It was a hustle. The entire country was hustled not unlike the housing crisis. The issue is that higher education SHOULDN'T be a thing that you scale back your life for in terms of finances. Why make something that is directly tied to higher salaries behind a paywall? It makes no economic sense. There will ALWAYS be a manual labor force in America...period. Even if college was free people would still CHOOSE to farm, be plumbers, electricians and the sort. From a economic standpoint this HAS to happen or the shyt will be 08 all over again when the Boomers die out and there's no one here who can afford any of the homes/property they leave behind.
 

IVS

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So if she cancels the debt is she also canceling the tax on that you will incur. Because you do know canceled debt counts as income and is taxed. So this could potentially lead to folks just owing the IRS a bunch of money.

Just saying
 

Jhoon

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it’ll pass
republicans owe debt too


as far as your last statement, banks and wall street got bailed out in 08’
this bailout of the american people would really stimulate the economy
Do you know how many homes will be sold and how many families will be started?
 

Jhoon

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So if she cancels the debt is she also canceling the tax on that you will incur. Because you do know canceled debt counts as income and is taxed. So this could potentially lead to folks just owing the IRS a bunch of money.

Just saying
Pay $50000 in tuition or pay $2500 “tax”? Gee whiz, what should I do?
 

Jhoon

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It’ll be a tremendous amount fam

Not only that, it’ll stimulate the economy

folks will hit the movies more, vacation more, invest more....


versus just all that money going to 1 place
I know folks paying $800 a month in student loans. Are you telling me this economy couldn’t stand to see an extra $800 a month?
 

North of Death

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So if she cancels the debt is she also canceling the tax on that you will incur. Because you do know canceled debt counts as income and is taxed. So this could potentially lead to folks just owing the IRS a bunch of money.

Just saying
Not that I disagree...But does the current loan forgiveness program also count as taxable income?
 

dj-method-x

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So if she cancels the debt is she also canceling the tax on that you will incur. Because you do know canceled debt counts as income and is taxed. So this could potentially lead to folks just owing the IRS a bunch of money.

Just saying

The debt is not taxable. This was covered earlier in the thread.
 
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