Official Student Debt Cancellation Watch Thread

[GodinDaFlesh]

no one can actually explain how forgiveness is fair to people who didnt go to college. and youll keep not explaining it, because you cant

for all the far left ideas that get thrown around in here, my idea is still to give everyone between 20-50 a check for 50 grand and you can pay student loans IF you have them. dudes got real offended about that for some reason

That argument is the "I'm not getting help, so no one else can get helped argument" which is immature. If we applied that thinking to every policy, we should get rid of any government policy that doesn't help everyone. With that said I actually support your idea of giving everyone a check. This economy needs heavy stimulus.

 

[Primetime21]

I knew he’d be in here dominating the thread already

 

[the cac mamba]

we have gone thru this, this is a credit/service, there are tons of credits and services most people don't qualify for, yet we all pay taxes toward them. i dont use SNAP, nor live in public housing/use section 8, nor have kids in public schools, nor draw SS, nor have a kid using medicaid, etc...yet no one is asking for non recipients of those programs to get checks

this is just juelzing most of you just say you want the government to pay your shyt off. theres nothing wrong with that

you still havent explained why you dont want to give everyone between 20-50 the same check. you sound like a republican

 

[the cac mamba]

I knew he’d be in here dominating the thread already

i was tagged in the thread. and making good faith posts until i was asked not to

and for the record, i dont give a fukk if they pay anyones debt off. good for them, relief is needed. but you cant just be unprepared and offended when the inherent unfairness of the policy is brought up. u think thats not whats gonna happen in real life?

 

[Pressure]

this is just juelzing most of you just say you want the government to pay your shyt off. theres nothing wrong with that

you still havent explained why you dont want to give everyone between 20-50 the same check. you sound like a republican

People who pay more in taxes see more benefits when taxes are lowered.

Just view it as a tax rebate for high earners that will boost the economy, if that makes you feel better.

 

[the cac mamba]

People who pay more in taxes see more benefits when taxes are lowered.

Just view it as a tax rebate for high earners that will boost the economy, if that makes you feel better.

but why dont you want to give everyone between 20-50 the same check, and you can pay your loans with it if you choose to do so?

you republicans are coming out of the woodwork

 

[Pressure]

but why dont you want to give everyone between 20-50 the same check, and you can pay your loans with it if you choose to do so?

you republicans are coming out of the woodwork

Most people have probably paid more with interest than their total principal at this point.

No need to stress.

 

[Starman]

Unless I'm getting a refund, pay denbts.

 

[dora_da_destroyer]

this is just juelzing most of you just say you want the government to pay your shyt off. theres nothing wrong with that

you still havent explained why you dont want to give everyone between 20-50 the same check. you sound like a republican

It’s juelzing that we have programs and tax credits that only apply to a few? Ok...

PS disabled vets had their debt forgiven, but we all should’ve gotten checks because it’s so very not like the government to have various targeted relief plans/credits...

 

[GodinDaFlesh]

Unless I'm getting a refund, pay denbts.

This seems to be the only objection to student loan forgiveness. "I didn't get mines so you shouldn't get yours".

 

[Starski]

no one can actually explain how forgiveness is fair to people who didnt go to college. and youll keep not explaining it, because you cant

for all the far left ideas that get thrown around in here, my idea is still to give everyone between 20-50 a check for 50 grand and you can pay student loans IF you have them. dudes got real offended about that for some reason

I mean, I think other posters hit the nail on it's head - you find me one proposal that was universally fair to everyone in the population, idk what I'll do.


But this whole thing about 50k to everyone in their 20-50's & erasing debt being an equivalent has to stop.

Under the scope of inflation (which will affect everyone) - which one do you think will have more inflationary pressure?

• Lets say a third of the population is in that age range, that would be a ~$5T cash injection right into the consumer's pockets - OVERNIGHT. 25% of the 2019 annual GDP right into the consumer's pockets . NO inflationary pressures right there. Effectively growing people LIQUID net worth what? 1000%? Nothing will go wrong if people spend that money on consumer products - supply chains are ready for an overnight demand increase of 1000% . If people pay down mortgages - yeah the mortgage industry (which is private industry vs. student loans which is obviously gov.) is totally ready for a $5T drawdown on loans, when their revenues are solely based on interest - nothing can go wrong.

• A policy that increases people's net worth( decreases liabilities) but is not a cash infusion so liquid net worth stays roughly the same, income + cash saved on student loan payments. The velocity of the money (student loan payments) that could potentially be used to put back in the economy is sustainably lower - as it spreads out over years or decades.

Both of these scenarios are obviously the same

 

[the cac mamba]

I mean, I think other posters hit the nail on it's head - you find me one proposal that was universally fair to everyone in the population, idk what I'll do.


But this whole thing about 50k to everyone in their 20-50's & erasing debt being an equivalent has to stop.

Under the scope of inflation (which will affect everyone) - which one do you think will have more inflationary pressure?

• Lets say a third of the population is in that age range, that would be a ~$5T cash injection right into the consumer's pockets - OVERNIGHT. 25% of the 2019 annual GDP right into the consumer's pockets . NO inflationary pressures right there. Effectively growing people LIQUID net worth what? 1000%? Nothing will go wrong if people spend that money on consumer products - supply chains are ready for an overnight demand increase of 1000% . If people pay down mortgages - yeah the mortgage industry (which is private industry vs. student loans which is obviously gov.) is totally ready for a $5T drawdown on loans, when their revenues are solely based on interest - nothing can go wrong.

• A policy that increases people's net worth( decreases liabilities) but is not a cash infusion so liquid net worth stays roughly the same, income + cash saved on student loan payments. The velocity of the money (student loan payments) that could potentially be used to put back in the economy is sustainably lower - as it spreads out over years or decades.

Both of these scenarios are obviously the same

i was told the debt doesnt matter i guess it does

good to know

 

[Starski]

i was told the debt doesnt matter i guess it does

good to know

Are you referring to an individuals/corporate debt or government debt?

Do you believe both are equivalent?

Completely doge my fukking point

 

[the cac mamba]

This seems to be the only objection to student loan forgiveness. "I didn't get mines so you shouldn't get yours".

funny, i thought the objection was that going to college is a choice, and the national debt by definition belongs to everyone

if you cant explain how its fair to people who didnt go to college, you're gonna have a hard time pushing this shyt through its one thing for bernie and warren and schumer to pander about it, its another thing to make it happen

and i support relief, like i laid out earlier in the thread. but blank check forgiveness is a tough sell when 2/3 of the country either paid it off themselves or didnt go to college

 

[the cac mamba]

Are you referring to an individuals/corporate debt or government debt?

Do you believe both are equivalent?

Completely doge my fukking point

the debt has to be paid back at some point, or it doesnt. make up your mind