I literally never understand why someone with a single household like a single parent has a cap value, but if I’m married with two incomes, that cap value doubles…. Like if the program is aimed at certain incomes, why is it that as a single parent I can’t make over a certain amount to qualify but if I have a second income with a partner that Amount doubles
1) What the US needs is a grand restructuring of college, intuition, costs etc so people can afford going to college and or be able to default on that debt if it goes sour. 2) If you cant do that I guess debt forgiveness is a good band aid solution. Does it fix the problem? No. Is it "fair"? No. Does it help millions of people? You bet! 3) I suffered through this garbage so others should too, is NOT an argument.
They are fixing the repayment plans and interest rates as part of the plan, but nobody wants to talk about that part. They can't really fix the overpriced schools because many are private higher education institutions and not public/State schools.
Definately! Exactly! Plus remove our tax payer dollars for the schools with the far right agendas. They know not what they do. They are against America and freedom on the backs of our fallen soldiers that fought, died, paid the ultimate price for the freedom we enjoy in USA. Move to another country so you know what you are all asking for. What they teach and protest for already exists in socialist, communist countries. Do not reinvent the wheel here. Move there and you'll understand the rights you are privileged to have here and what you are asking for. -John's wife
In economics, a moral hazard is a situation where an economic actor has an incentive to increase its exposure to risk because it does not bear the full costs of that risk. For example, when a corporation is insured, it may take on higher risk knowing that its insurance will pay the associated costs. A moral hazard may occur where the actions of the risk-taking party change to the detriment of the cost-bearing party after a financial transaction has taken place.
so title IV-D is a moral hazard. using federal social security dollars (50 billion per year) to pay states....IF they put people on child support, jack it up, and enFORCE it.... we are literally paying our government to break up our families....
"Forgiveness". To a British English speaker, that term sounds very antique. Like you're forgiving a sin. Perhaps a term from older English that has survived in America but not the UK. We would say that a loan is "written off". Interesting that the word in German for debt is the same word as "guilt".
@@patientestant Fufilling a campaign promise doesn't matter when the policy is being done to buy votes. Why didn't he do this at the beginning of 21? Since he apparently had the authority to do so. No. This was a strategic play to buy votes for the next election. Which makes sense considering how ridiculously short term this policy is.
Also, if you make say $65K-$150K a year and can't pay off an additional $10K in student debt, then I'm not sure how you survived being that economically irresponsible for all this time, let alone even graduated college to begin with, with such poor personal discipline
So when are the ones who paid off their debts going to get rewarded like the people who didn't pay much towards their loan? Because being equal is helping everyone, not just who the government wants.
@@Bc232klm Then they shouldn't get loan forgiveness. Either help everyone or help no one. It's our tax dollars, so it's more then fair they get reimbursed too if they are middle class like what they are trying to do. They did the right thing, the thing they were supossed to do contractually. And they are getting punished because people who didn't put a dent in their loans are getting a huge chunk paid off of it.
Ummm, there is a serious misconception that the college educated are the elite. I'm sorry to tell you that is not true anymore. People with Graduate degrees are living paycheck to paycheck. Student loans are a rip off,and credit scores are bull :hankey:
Imagine joining the army (end up fighting in iraq and afganistan) to get your college paid for and then have the government pay off other peoples college debts for nothing.
Well, I mean, they also got it for free in return for serving that some anti-american & freedom hating government. So eh, if you get in bed with the government you should expect to get screwed.
When I hear the story of a dad who paid his own student loan debt off, then raised three daughters and paid their student loan debt off. It's unfair to him to pay others student loan debt on top of that.
I bet their video on the constant and never ending corporate bailouts and debt forgiveness is just as snarky and hits everybody in the feels just as hard. Cannot roll eyes hard enough.
Not just corporations bailouts and debt forgiveness but the politicians railing against it could afford their student loans and had hundreds of thousands of loans forgiven, not just $10k or $20k. Bankruptcy... What about those of us that never filed? Yet banks, rich people, and rich corporations can file bankruptcy.
Right. Nobody on here complaining when billions worth of PPP loans meant for "small businesses" were obtained by and then forgiven for millionaires and members of congress. But somehow, helping the low and middle class with some loan forgiveness is a huge deal??
@@crazygirlandi79 The debt relief is for grad students. They will make more in a year than you will in a lifetime, dummy. Hardly "middle or lower class". Doesn't matter. They assumed the debt, they can pay it back. Not my responsibility.
@@peteywheatstraws4909 that's really hyperbolic... The student loan forgiveness caps out at $125K annually. Is someone who makes $125K a year "mak[ing] more than you will in a lifetime"? Doubtful. Student loans have always been a government mistake. They are somewhat fixing a government mistake. And I went to a state school, borrowed $34K (not including interest) and have all but $6K paid off. No, I'm not mad. Just because I suffered doesn't mean other people should.
You assume they haven't because you support unethical practices as long as there are other "more" unethical practices. "It's okay to steal because they murdered!"
I tried and don't understand how to get it AES KEEPS GIVING ME LINKS ON IDR. I have to consolidate and I may not be able to get the forgiveness. And the consolidation includes interest? Can't call the Bank they no longer exist. But AES is still the middle man
So, who can I sue for my $10000? It seems acutely discriminatory to give irresponsible people money while forcing people who will make 6-7 figures less than them to eat the cost.
Ok but this is way less then everything that has been forgiven before this. So I’m not sure what the big deal is. Heck I just wish they would make it free for everyone, like most of the world
@@joshuawhiteside3750 yes, only if people used a couple more brain cells to understand thier is no difference between "free" and "taxpayer funded" in this context. No one bitches and complains about all those "free" roads and public/health and safety infrastructure they use everyday. Education is no different. And, just like healthcare, everyone needs it. So we should all pitch in. It's really not that complicated. Taxes are a collective effort fund everything a society needs.
@@ALL_CAPS__ free college/loan forgiveness is more expensive in the long run because it gives the universities no incentive to actually lower costs. They just charge you on the back end in taxes.
The right thing to do for people who cannot pay their student loans is to declare bankruptcy - except student loans are exempted, and cannot be forgiven in bankruptcy. Maybe we should fix that, first?
Why didnt you make a video like this in the 2019 shadow bank bailout, the 2021 elite wealth transfer program, the 2022 400 billion to 6 for-profit train companies, the 40 billion to 3 forprofit Nuclear energy companies im the chips bill and the 1 trillion in ppp to foreign corporations with only headquarters here? I confused…but my college degree cost me money and was not paid for by a tax free foreign foundation that took all the spots in the program when my tax paying family was denied
Those all went to the right class of people. “The more capable set of men” as james madison said. Student loan relief is going to the filthy poors. Money must always flow upwards
That energy was there. We called it from the start, that money would go to corporations and the very rich and it did. 2 wrongs don't make a right. In the case of the small business though, the government forced it to shut down and not work. You're not forced to go to University.
I paid my loans, I’m very happy to make sure other people who have graduated and can’t buy a home because they have too much debt to qualify for a mortgage!
If 10-20k in student loans was stopping someone from qualifying for a mortgage they are going to have a really tough time when they have to replace the a/c or the roof or any number of other things that break in a house
I would like to understand how a land grant college, the Ohio State University, bought, built and paid for by the taxpayers, has a $4 billion endowment. In real speak, endowment equals profits. So, why does a taxpayer funded university have $4 billion in cash laying around. The people of Ohio could use that money for something other than building another stadium.
Did you just equate charitable donations (endowment) with corporate profits? That is some serious pretzel logic. You might as well just insist on taxing the rich at a higher rate so the money they would’ve donated as charity to OSU (for the tax write off - duh) goes to “the people of Ohio”. Want to reduce endowments so that charity (and again, it’s charity, not profit) are reduced? Advocate to close tax loopholes, simplify and make more fair the tax system so that it better reflects a more fair and broad base from which to derive revenue for the government. If you believe that endowments are university profits, then I have a bridge in Alaska to sell you 🤣🤣🤣
@@ahauckify perhaps you should look at their books. For example, when I went to UW Madison, the school owned some things it likely wasn't using for educational purposes, such as a shopping mall 15 miles from campus. This mall was not run by the business school and used as a teaching example, it was somewhere to stash extra cash. They owned country clubs and restaurants and other assets that have nothing to do with a university. What business does a land grant college, like UW Madison, have in owning shopping malls and golf courses? No, these are profits, not donations. Next!
@@lifestories1446 Dude capitalism corrupts everything. Sure, land grant universities were founded as shining examples of socialism at work in America, which means of course eventually they would turn out this way. Which is all to say that you’re conflating what universities do with the charitable donations they receive with the forgiveness of student debt which will not, in reality, cost you a single red cent. Or any other taxpayer.
@@lifestories1446 owning or partially owning assets does not mean they have $4 billion of cash lying around in some magical vault. Remember, equity is not the same as cash. For liquidity purposes, you should have some, but you also should invest it due to things like inflation which means your dollar value will go down if it sits idly so it gets deposited into some interest bearing assets like those you mentioned. They probably get some return off those malls and whatever else via dividends or something that benefits their finances long term. Sure $4 billion sounds great to use, but if you use it all as a one time benefit, it's gone. Maybe for all we know, that $4 billion is used overtime for a cumulative benefit of 6 or 10 billion to the public via in limiting tuition hikes for in-state residents, more financial aid over time, research and infrastructure that benefits locals, propping up local businesses or offer lower rate loans and therefore assist in the local economy with job creations, resources, etc. Having $4 billion or x amount today always sounds great to use for today's problems, but when you compare it for its potential use over time, it puts things into perspective which is what the old saying reinforces feed a man a fish and he's fed for a day, teach him to fish and he's fed a lifetime
I get the rancor over student debt relief, but the root cause is the same government who is subsidizing that debt. 40-50 years ago, only a small percentage of Americans went to college. Now, it's pushed, via public school indoctrination (just like our favorite woke ideologies), and kids are practically forced to consider college. They attend, and if they don't flunk out because they never should have been there in the first place, they graduate with useless degrees and serious debt. Now they work bs jobs to pay off debt, with their degree not counting for everything. So I'm fine with student debt relief, but let's end the idea that everyone needs to go to college to get a job.
240 grand a year are you crazy I'm disabled and I went to nursing school my full monthly income is 1205.00 month this is falling off on my sister who did go to collage now she's struggling to take care of my disabled sister... 240 thousand dollars is more then I have or my sister has earned her whole life this is rediclous... It's a shame all these illeages walking into the US and people that don't watch real news don't have a clue what's going on Biden Harris worst in my 64 year history........
And why isn't it the same snarky sarcastic rant being run for people and corporations that file for bankruptcy?? Persons like myself never filed...yet there are others like my neighbors who have filed for bankruptcy at least three or four times!!!
There was a loan desert when I was college age. I didn't make enough to afford college. My parents made too much to allow me to borrow enough to attend and eat simultaneously. My parents were not going to give me support. Why? I'm the oldest of 11 offspring. I was helping them. It took me years of minimum wage earnings to pay back the one insufficient loan I did get. No degree for this Mensa level I.Q. High SAT score.
I can spell Morul Hazerd, sheesh. Just cuz I didn’t go to college and get into a huge amount of deht doesn’t mean I’m… uh… what’s that word….? Actually never mind…
Then give everyone the same amount. Not just the democrat vote buying machine just because they have no good economic policies. They open the border for voters and then bribe many other people... because they are worthless. Just print and spend burying the future in debt.
This is a specious argument. A lot of people who make under $100k have student loan debt. It stops them from contributing to the economy significantly. But we should reform the college system and fund our public colleges appropriately so that students don’t have to go into crippling debt just to get ahead in the fields that require a college education.
Soooooooo....it's COOL to FORGIVE OIL COMPANIES, BIG PHARMA, AUTO COMPANIES....Heck, ALL OF WALL STREET but NOT those who have BUSTED THEIR ARSE to get the degrees WE WERE TOLD would make us GOOD, CONTRIBUTING, GOD FEARING, CONTRIBUTING, LAW ABIDING, CONTRIBUTING Americans!!!!???? #Sheep 🐑
Now do....now do..... Farm subsidies. Or to big to fail. Or airline and amtrack bailout. How about e car rebates. Appliances rebates. There are hundreds why stop at one. Did I say social security..... food stamps......
He did Social security. He did e car rebates. It was in the inflation reduction act. We subsidize farms a lot, we need to make them stop using or wasting so much water. All of this was done by (Biden/Brandon(?)), well the congress and signed by Biden.
@@AlertROFL wait wasting so much water. That has nothing to do with what I am talking about. In the case of farmers, they don't waste water. They grow the crops we and what we eat use. Water is a renewable resource that they utilize in production. Not like keeping your lawn green and pretty all summer. Now if you want to say some irresponsible farmers contaminate water with over use of chemicals and manure, that has some merit. Other wise they are using water for what it is meant to do. As for the rest. I was just pointing out this is the flavor of the day to complain about. It happens every day and no one puts an end to it. Politicians write checks with our money to buy our votes.
The tax cuts we give to the wealthy and corporations that cost us TRILLIONS of dollars should concern everyone far more than the cost of student debt forgiveness.
If you have children say nothing! Do you not get a YEARLY CHILDREN DEDUCTION, EVERY YEAR, FOOD STAMPS, PUBLIC SCHOOLS, MEDICAL INSURANCE, AND CHILD TAX CREDITS, EVERY YEAR FOR EACH CHILD!! I don't have kids. Who pays for that?
Child tax credits yes, but that's not someone paying me for it, that's reduction of what I pay or already paid to the government. Public schools I'd argue that everyone who touched public education benefited that so I don't think that's a good argument e.g. if you attended, but now complaining about it, someone paid for yours in your logic. As for who pays, depends where. Believe they get funding typically from state, local, and federal.
Ok then don't deduct your kids and don't apply for a tax credit and see if they put it on your tax returns automatically. What do you if usually get? $3000-5000 return? Every year? It's the same don't kid yourself. Did I mention all the corporate tax breaks, church's like the status and so on. The point is, not everyone wins everytime. Don't begrudge me and I won't vote to pull your child except status it whatever they give you. EVERY YEAR FOR EACH CHILD.
I definitely did not go to Harvard (state school) and I definitely do not make anywhere near 120k a year (50k). This plan is majority helping people like me. Not the hypothetical profile of borrower you alluded to.
My SL will be wiped out cause I only owe 9k. If my state makes me pay taxes, I'll do so with a smile. My credit score will take a boost making future loans a cheaper interest rate. So more money to spend making myself happy as well as stimulating the economy.
Wow, who says conservatives aren't funny? This is grade A hilarity! He didn't even hit the "attack helicopter" trope.... (Seriously though, hope that sweet Koch cash is worth this waste of everyone's time.)
Ummmm. No. The people. The bank isn't just going to be left like, "Well, we cancelled it so you the bank needs to suck it up". The loss will be on the people and tax payers who didn't go to college and paid off their loans.
The real question is, who gets into student loans? If you study in-state and get good grades....idk man, I just don't understand why you even get in debt.
@@Tammy8823 "prevent having". My bad, maybe I worded it incorrectly. If you use FAFSA, go in-state, you should have essentially zero debt for University
It’s been awhile since you went to college, eh? Hell my in state tuition for my state school in ‘95 was $26k/year. Grants and scholarships would’ve only covered half. Yeah, there are ways to reduce that debt load - get an AA first and transfer to finish a bachelors - but that wasn’t a commonly promoted path in my day. If only the rest of us had the decades of wisdom and personal experience to draw on when we were 17 - like you did when you were 17, then we’d all be much better off.
Everyone should be allowed to have a non privatized education so we can succeed. And if we don't the nation will eventually suffer. In the past generations college was a lot cheaper. Kids are now sleeping in their cars and will have student debt forever even after graduation.
Of course it’s more expensive. Colleges are theme parks full of nonsense like water parks and enormous stadiums to play ball games. Coaches who tell children to carry a ball across a line or throw one into a hole are making millions of dollars a year. Strip the BS from all levels of education and I can get behind it but until then I’ll do what I can to fight it.
If college educations weren’t supplemented by the federal government through things like predatory loan programs and redistributed (stolen) wealth, college wouldn’t be so unaffordable. Same goes for medical care.
Free education for all - look at the Nordic countries - pay a little more taxes and they free high quality basic services. And no they are not much wealthier than the US.
The working class? Those making over 100k a year in office positions? No. That is not the definition of working class by any standard. Not Marx and not reality. That is not the working class. The working class are those that will be paying for this making less than $60k a year with their taxes and inflation. The government did nothing to reduce the cost of college, and in fact this will make prices go up, negating any value. I worked through college. I took community college courses where I could to reduce costs. I paid off my debts. And I am ignored. This benefits those who were irresponsible or are privileged.
@@blarghblarghblargh Pelosi worked pretty hard in insider trading. Biden worked pretty hard in enriching his family. Sanders worked pretty hard selling himself out. They work hard. Just not for us.
That last part hit me in the feels. It'll probably hurt worse when I look up what it means.
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“You don’t want Harvard to suffer now do you?”
Yes. Yes I do.
Yeah, all government money should go to the top 10 billionaires!
@@IdealConsciencewhose children go to Harvard
Imagine going to college to get a job only to lose it while the company gets PP and being told you’re evil.
I literally never understand why someone with a single household like a single parent has a cap value, but if I’m married with two incomes, that cap value doubles…. Like if the program is aimed at certain incomes, why is it that as a single parent I can’t make over a certain amount to qualify but if I have a second income with a partner that Amount doubles
1) What the US needs is a grand restructuring of college, intuition, costs etc so people can afford going to college and or be able to default on that debt if it goes sour.
2) If you cant do that I guess debt forgiveness is a good band aid solution. Does it fix the problem? No. Is it "fair"? No. Does it help millions of people? You bet!
3) I suffered through this garbage so others should too, is NOT an argument.
Fix the overpriced institutions before writing. A check on my account.
They are fixing the repayment plans and interest rates as part of the plan, but nobody wants to talk about that part. They can't really fix the overpriced schools because many are private higher education institutions and not public/State schools.
Definately! Exactly! Plus remove our tax payer dollars for the schools with the far right agendas. They know not what they do. They are against America and freedom on the backs of our fallen soldiers that fought, died, paid the ultimate price for the freedom we enjoy in USA. Move to another country so you know what you are all asking for. What they teach and protest for already exists in socialist, communist countries. Do not reinvent the wheel here. Move there and you'll understand the rights you are privileged to have here and what you are asking for. -John's wife
Agree 💯 percent.
ytube keeps deleting my comment. Time to go to another platform. Even our freedom of speech is in jeopardy in private companies. Only in America.
Definately. Exactly.
Of course we don't want Harvard to suffer. Please Please pile your debt on us taxpayers.
In economics, a moral hazard is a situation where an economic actor has an incentive to increase its exposure to risk because it does not bear the full costs of that risk. For example, when a corporation is insured, it may take on higher risk knowing that its insurance will pay the associated costs. A moral hazard may occur where the actions of the risk-taking party change to the detriment of the cost-bearing party after a financial transaction has taken place.
Yes thank you!!!
so title IV-D is a moral hazard. using federal social security dollars (50 billion per year) to pay states....IF they put people on child support, jack it up, and enFORCE it....
we are literally paying our government to break up our families....
"Forgiveness". To a British English speaker, that term sounds very antique. Like you're forgiving a sin. Perhaps a term from older English that has survived in America but not the UK. We would say that a loan is "written off". Interesting that the word in German for debt is the same word as "guilt".
And we're coincidently doing it a month before an important mid-term election.
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I hope they get burned but the Republicans are in contest for how to botch an election
Which will leave just enough time after for congress and SCOTUS to overturn it.
“Fulfilling a campaign promise!” Wink wink. Not paying for votes, don’t be silly.
@@patientestant Fufilling a campaign promise doesn't matter when the policy is being done to buy votes. Why didn't he do this at the beginning of 21? Since he apparently had the authority to do so.
No. This was a strategic play to buy votes for the next election. Which makes sense considering how ridiculously short term this policy is.
Also, if you make say $65K-$150K a year and can't pay off an additional $10K in student debt, then I'm not sure how you survived being that economically irresponsible for all this time, let alone even graduated college to begin with, with such poor personal discipline
So when are the ones who paid off their debts going to get rewarded like the people who didn't pay much towards their loan? Because being equal is helping everyone, not just who the government wants.
Yeah when do I get my million dollar ppp loan?
Sorry, life isn't "equal".
@@Bc232klm Then they shouldn't get loan forgiveness. Either help everyone or help no one. It's our tax dollars, so it's more then fair they get reimbursed too if they are middle class like what they are trying to do. They did the right thing, the thing they were supossed to do contractually. And they are getting punished because people who didn't put a dent in their loans are getting a huge chunk paid off of it.
@@lithium25693 are you middle class and paid off your college loans?
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Federal employees get $300,000 student loan debt forgiven in this. Why is NO ONE talking about that??!!!!
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Wtf. Had no idea.
Like usual the public sector is more important than the plebs in the private sector.
Is the process of forgiving debt for federal employees new or is it just a higher amount?
@@questioneveryclaim1159 I believe higher or easier
Ummm, there is a serious misconception that the college educated are the elite. I'm sorry to tell you that is not true anymore. People with Graduate degrees are living paycheck to paycheck. Student loans are a rip off,and credit scores are bull :hankey:
Imagine joining the army (end up fighting in iraq and afganistan) to get your college paid for and then have the government pay off other peoples college debts for nothing.
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Exactly. The politicians didn't care then, don't care now. I am Jack's lack of surprise.
Imagine fighting the Nazis and coming home with a dent in your skull the size of a baseball.
Well, I mean, they also got it for free in return for serving that some anti-american & freedom hating government. So eh, if you get in bed with the government you should expect to get screwed.
@@identifiesas65.wheresmyche95 "got it for free in return for serving" is like saying i got my pizza for free in return for 10 dollars
When I hear the story of a dad who paid his own student loan debt off, then raised three daughters and paid their student loan debt off. It's unfair to him to pay others student loan debt on top of that.
What do we say to a kid whose father paid for his education with a purple heart and a headstone in a military cemetery?
What happens when ....they have their debts scrubbed...and they still dont vote for brandon ....
That doesn't happen, they are indoctrinated.
Brandon: They played us like a damn fiddle!
Effort is then wasted
It was never meant for the people who got them relieved it was for thr idiotic hopefuls who think they'll be next.
I know - it’s almost as if the move was more for the low to middle class economic benefit than for votes
I bet their video on the constant and never ending corporate bailouts and debt forgiveness is just as snarky and hits everybody in the feels just as hard.
Cannot roll eyes hard enough.
Bro this is Reason. They slam corpo bailouts and crony corporatism every other day. Perhaps you're thinking of some conservative outlet?
Not just corporations bailouts and debt forgiveness but the politicians railing against it could afford their student loans and had hundreds of thousands of loans forgiven, not just $10k or $20k. Bankruptcy... What about those of us that never filed? Yet banks, rich people, and rich corporations can file bankruptcy.
Right. Nobody on here complaining when billions worth of PPP loans meant for "small businesses" were obtained by and then forgiven for millionaires and members of congress.
But somehow, helping the low and middle class with some loan forgiveness is a huge deal??
@@crazygirlandi79 The debt relief is for grad students. They will make more in a year than you will in a lifetime, dummy.
Hardly "middle or lower class".
Doesn't matter. They assumed the debt, they can pay it back.
Not my responsibility.
@@peteywheatstraws4909 that's really hyperbolic... The student loan forgiveness caps out at $125K annually. Is someone who makes $125K a year "mak[ing] more than you will in a lifetime"? Doubtful.
Student loans have always been a government mistake. They are somewhat fixing a government mistake. And I went to a state school, borrowed $34K (not including interest) and have all but $6K paid off. No, I'm not mad. Just because I suffered doesn't mean other people should.
Now do one about corporate tax cuts and the obscene defense budget.
Uh... they've done several. See, like, every Remy video on this channel.
Or the 80 billion worth of equipment slow joe left in Afghanistan. For China & Russia to duplicate.
@@raprock5000 you think the crap we sent to Afghanistan wasn't 30 years old already? LoL, what a dumbass
You assume they haven't because you support unethical practices as long as there are other "more" unethical practices.
"It's okay to steal because they murdered!"
I tried and don't understand how to get it AES KEEPS GIVING ME LINKS ON IDR. I have to consolidate and I may not be able to get the forgiveness. And the consolidation includes interest? Can't call the Bank they no longer exist. But AES is still the middle man
So, who can I sue for my $10000? It seems acutely discriminatory to give irresponsible people money while forcing people who will make 6-7 figures less than them to eat the cost.
Ok but this is way less then everything that has been forgiven before this. So I’m not sure what the big deal is. Heck I just wish they would make it free for everyone, like most of the world
I always love it when people use that word. Absolutely nothing is free. Somebody is paying for it.
@@joshuawhiteside3750 yes, only if people used a couple more brain cells to understand thier is no difference between "free" and "taxpayer funded" in this context. No one bitches and complains about all those "free" roads and public/health and safety infrastructure they use everyday. Education is no different. And, just like healthcare, everyone needs it. So we should all pitch in. It's really not that complicated. Taxes are a collective effort fund everything a society needs.
@@ALL_CAPS__ it's still not free. Not everyone chooses to take advantage of the higher education system so why should they be required to fund it?
@@ALL_CAPS__ It's not the job of the government to fund all your wants and needs in life. Thier job is to protect your rights.
@@ALL_CAPS__ free college/loan forgiveness is more expensive in the long run because it gives the universities no incentive to actually lower costs. They just charge you on the back end in taxes.
The right thing to do for people who cannot pay their student loans is to declare bankruptcy - except student loans are exempted, and cannot be forgiven in bankruptcy.
Maybe we should fix that, first?
Why didnt you make a video like this in the 2019 shadow bank bailout, the 2021 elite wealth transfer program, the 2022 400 billion to 6 for-profit train companies, the 40 billion to 3 forprofit Nuclear energy companies im the chips bill and the 1 trillion in ppp to foreign corporations with only headquarters here? I confused…but my college degree cost me money and was not paid for by a tax free foreign foundation that took all the spots in the program when my tax paying family was denied
Those all went to the right class of people. “The more capable set of men” as james madison said. Student loan relief is going to the filthy poors. Money must always flow upwards
Where was this energy when the business loans came out, most being forgiven. Guess it’s the wrong class of people getting it this time
That energy was there. We called it from the start, that money would go to corporations and the very rich and it did. 2 wrongs don't make a right. In the case of the small business though, the government forced it to shut down and not work. You're not forced to go to University.
I paid my loans, I’m very happy to make sure other people who have graduated and can’t buy a home because they have too much debt to qualify for a mortgage!
If 10-20k in student loans was stopping someone from qualifying for a mortgage they are going to have a really tough time when they have to replace the a/c or the roof or any number of other things that break in a house
DM me, I'll share my Venmo details so you can send me that cash.
a $240k household is an exception not a rule..
Finally i know how the "what could possibly go wrong" guy looks like. I can die in peace now
I would like to understand how a land grant college, the Ohio State University, bought, built and paid for by the taxpayers, has a $4 billion endowment. In real speak, endowment equals profits. So, why does a taxpayer funded university have $4 billion in cash laying around. The people of Ohio could use that money for something other than building another stadium.
Did you just equate charitable donations (endowment) with corporate profits? That is some serious pretzel logic. You might as well just insist on taxing the rich at a higher rate so the money they would’ve donated as charity to OSU (for the tax write off - duh) goes to “the people of Ohio”.
Want to reduce endowments so that charity (and again, it’s charity, not profit) are reduced? Advocate to close tax loopholes, simplify and make more fair the tax system so that it better reflects a more fair and broad base from which to derive revenue for the government.
If you believe that endowments are university profits, then I have a bridge in Alaska to sell you 🤣🤣🤣
@@ahauckify perhaps you should look at their books. For example, when I went to UW Madison, the school owned some things it likely wasn't using for educational purposes, such as a shopping mall 15 miles from campus. This mall was not run by the business school and used as a teaching example, it was somewhere to stash extra cash. They owned country clubs and restaurants and other assets that have nothing to do with a university. What business does a land grant college, like UW Madison, have in owning shopping malls and golf courses? No, these are profits, not donations. Next!
@@lifestories1446 Dude capitalism corrupts everything. Sure, land grant universities were founded as shining examples of socialism at work in America, which means of course eventually they would turn out this way.
Which is all to say that you’re conflating what universities do with the charitable donations they receive with the forgiveness of student debt which will not, in reality, cost you a single red cent. Or any other taxpayer.
@@lifestories1446 owning or partially owning assets does not mean they have $4 billion of cash lying around in some magical vault. Remember, equity is not the same as cash. For liquidity purposes, you should have some, but you also should invest it due to things like inflation which means your dollar value will go down if it sits idly so it gets deposited into some interest bearing assets like those you mentioned. They probably get some return off those malls and whatever else via dividends or something that benefits their finances long term. Sure $4 billion sounds great to use, but if you use it all as a one time benefit, it's gone. Maybe for all we know, that $4 billion is used overtime for a cumulative benefit of 6 or 10 billion to the public via in limiting tuition hikes for in-state residents, more financial aid over time, research and infrastructure that benefits locals, propping up local businesses or offer lower rate loans and therefore assist in the local economy with job creations, resources, etc. Having $4 billion or x amount today always sounds great to use for today's problems, but when you compare it for its potential use over time, it puts things into perspective which is what the old saying reinforces feed a man a fish and he's fed for a day, teach him to fish and he's fed a lifetime
Won't someone think of the poor suffering college's?
And then student loan debts were cancelled immediately after midterms.
I’m not even filling out any kind of paperwork because I live in the state of Indiana and they’re going to add that as untaxed income…no thanks.
I get the rancor over student debt relief, but the root cause is the same government who is subsidizing that debt. 40-50 years ago, only a small percentage of Americans went to college. Now, it's pushed, via public school indoctrination (just like our favorite woke ideologies), and kids are practically forced to consider college. They attend, and if they don't flunk out because they never should have been there in the first place, they graduate with useless degrees and serious debt. Now they work bs jobs to pay off debt, with their degree not counting for everything. So I'm fine with student debt relief, but let's end the idea that everyone needs to go to college to get a job.
240 grand a year are you crazy I'm disabled and I went to nursing school my full monthly income is 1205.00 month this is falling off on my sister who did go to collage now she's struggling to take care of my disabled sister... 240 thousand dollars is more then I have or my sister has earned her whole life this is rediclous... It's a shame all these illeages walking into the US and people that don't watch real news don't have a clue what's going on Biden Harris worst in my 64 year history........
Weirdest episode of Between Two Ferns I’ve seen yet
"And your grandkids will pay for it."
My vote goes to the highest bidder. Sold to biden for 10k.
And why isn't it the same snarky sarcastic rant being run for people and corporations that file for bankruptcy?? Persons like myself never filed...yet there are others like my neighbors who have filed for bankruptcy at least three or four times!!!
There was a loan desert when I was college age. I didn't make enough to afford college. My parents made too much to allow me to borrow enough to attend and eat simultaneously. My parents were not going to give me support. Why? I'm the oldest of 11 offspring. I was helping them. It took me years of minimum wage earnings to pay back the one insufficient loan I did get. No degree for this Mensa level I.Q. High SAT score.
A lot of moral hazard going around.
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I think you mean Dukes of Hazard
Should we give the money to Ukraine, or Americans? We're already $20+ Trillion in debt. Jackson Mississippi doesn't have water.
So... what's your point? This effed up country is full of atrocities. This student loan bail-out is just another one. Please DO NOT vote democrat.
I can spell Morul Hazerd, sheesh. Just cuz I didn’t go to college and get into a huge amount of deht doesn’t mean I’m… uh… what’s that word….? Actually never mind…
It’s like republicans are literally ignoring anyone who is making less than $10 an hour working more than 40+ hours a week.
Smh.
If it is fair for some, it is fair for everyone, or it isn't fair at all.
Then give everyone the same amount. Not just the democrat vote buying machine just because they have no good economic policies. They open the border for voters and then bribe many other people... because they are worthless. Just print and spend burying the future in debt.
This is a specious argument. A lot of people who make under $100k have student loan debt. It stops them from contributing to the economy significantly. But we should reform the college system and fund our public colleges appropriately so that students don’t have to go into crippling debt just to get ahead in the fields that require a college education.
It's helping low income people, single parents that are low income
Soooooooo....it's COOL to FORGIVE OIL COMPANIES, BIG PHARMA, AUTO COMPANIES....Heck, ALL OF WALL STREET but NOT those who have BUSTED THEIR ARSE to get the degrees WE WERE TOLD would make us GOOD, CONTRIBUTING, GOD FEARING, CONTRIBUTING, LAW ABIDING, CONTRIBUTING Americans!!!!???? #Sheep 🐑
Moral what now?
The timing of this...
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Now do....now do.....
Farm subsidies. Or to big to fail. Or airline and amtrack bailout. How about e car rebates. Appliances rebates. There are hundreds why stop at one. Did I say social security..... food stamps......
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BOGO sales? Ladies night? Happy hour?
We don't stop there, I think we're on board with all of those.
He did Social security. He did e car rebates. It was in the inflation reduction act. We subsidize farms a lot, we need to make them stop using or wasting so much water. All of this was done by (Biden/Brandon(?)), well the congress and signed by Biden.
@@AlertROFL wait wasting so much water. That has nothing to do with what I am talking about. In the case of farmers, they don't waste water. They grow the crops we and what we eat use. Water is a renewable resource that they utilize in production. Not like keeping your lawn green and pretty all summer. Now if you want to say some irresponsible farmers contaminate water with over use of chemicals and manure, that has some merit. Other wise they are using water for what it is meant to do.
As for the rest. I was just pointing out this is the flavor of the day to complain about. It happens every day and no one puts an end to it. Politicians write checks with our money to buy our votes.
The tax cuts we give to the wealthy and corporations that cost us TRILLIONS of dollars should concern everyone far more than the cost of student debt forgiveness.
Okay, and I'm definitely against that as well. I just don't see how that bad thing means we should allow this bad thing to happen.
Morel hazzerd.
Swim or Sink Haaavaard.
If you have children say nothing! Do you not get a YEARLY CHILDREN DEDUCTION, EVERY YEAR, FOOD STAMPS, PUBLIC SCHOOLS, MEDICAL INSURANCE, AND CHILD TAX CREDITS, EVERY YEAR FOR EACH CHILD!! I don't have kids. Who pays for that?
Child tax credits yes, but that's not someone paying me for it, that's reduction of what I pay or already paid to the government. Public schools I'd argue that everyone who touched public education benefited that so I don't think that's a good argument e.g. if you attended, but now complaining about it, someone paid for yours in your logic. As for who pays, depends where. Believe they get funding typically from state, local, and federal.
Ok then don't deduct your kids and don't apply for a tax credit and see if they put it on your tax returns automatically. What do you if usually get? $3000-5000 return? Every year? It's the same don't kid yourself. Did I mention all the corporate tax breaks, church's like the status and so on. The point is, not everyone wins everytime. Don't begrudge me and I won't vote to pull your child except status it whatever they give you. EVERY YEAR FOR EACH CHILD.
Why do you get back more than you paid?
I definitely did not go to Harvard (state school) and I definitely do not make anywhere near 120k a year (50k). This plan is majority helping people like me. Not the hypothetical profile of borrower you alluded to.
My SL will be wiped out cause I only owe 9k. If my state makes me pay taxes, I'll do so with a smile. My credit score will take a boost making future loans a cheaper interest rate. So more money to spend making myself happy as well as stimulating the economy.
Oligarchs can get all the money they want. Students no way.
Thank you President Biden. You definitely have my votwe!!!!
Oh my...and then the ppp forgiveness and then...
You people who didn't own a company and got PPP Loans forgiven, or the 2017 wealthy tax cuts, or bought back stocks...
Wow, who says conservatives aren't funny? This is grade A hilarity!
He didn't even hit the "attack helicopter" trope....
(Seriously though, hope that sweet Koch cash is worth this waste of everyone's time.)
Cringe
Who will benefit the most? Students. Who will take the biggest loss? Big banks
Ummmm. No. The people. The bank isn't just going to be left like, "Well, we cancelled it so you the bank needs to suck it up".
The loss will be on the people and tax payers who didn't go to college and paid off their loans.
The real question is, who gets into student loans? If you study in-state and get good grades....idk man, I just don't understand why you even get in debt.
Going to an in-state school will definitely make a difference, getting good grades…who does that prevent having to take out loans?
@@Tammy8823 "prevent having". My bad, maybe I worded it incorrectly. If you use FAFSA, go in-state, you should have essentially zero debt for University
I do. People get into debt because they are STOOPID.
It’s been awhile since you went to college, eh? Hell my in state tuition for my state school in ‘95 was $26k/year. Grants and scholarships would’ve only covered half. Yeah, there are ways to reduce that debt load - get an AA first and transfer to finish a bachelors - but that wasn’t a commonly promoted path in my day.
If only the rest of us had the decades of wisdom and personal experience to draw on when we were 17 - like you did when you were 17, then we’d all be much better off.
@@paulk9985 I can tell by your choice of spelling that you have a sizable amount of student debt. I hope this program brings you some relief.
Ok that was hysterical!
Everyone should be allowed to have a non privatized education so we can succeed. And if we don't the nation will eventually suffer. In the past generations college was a lot cheaper. Kids are now sleeping in their cars and will have student debt forever even after graduation.
Amen. It's one of the basic common sense investments in a nation.
Of course it’s more expensive. Colleges are theme parks full of nonsense like water parks and enormous stadiums to play ball games. Coaches who tell children to carry a ball across a line or throw one into a hole are making millions of dollars a year.
Strip the BS from all levels of education and I can get behind it but until then I’ll do what I can to fight it.
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If college educations weren’t supplemented by the federal government through things like predatory loan programs and redistributed (stolen) wealth, college wouldn’t be so unaffordable. Same goes for medical care.
@@blueoval250 no. Simply have the Federal government subsidize education, make it free. No need to force colleges to look boring to make it cheap.
Why aren't you going after wall street? Are they excused?
Free education for all - look at the Nordic countries - pay a little more taxes and they free high quality basic services. And no they are not much wealthier than the US.
Ehhh. Do comedy w other topics
sorry, not gonna gaslight me into thinking it's bad when the government works for the working class.
The working class? Those making over 100k a year in office positions?
No.
That is not the definition of working class by any standard. Not Marx and not reality.
That is not the working class. The working class are those that will be paying for this making less than $60k a year with their taxes and inflation.
The government did nothing to reduce the cost of college, and in fact this will make prices go up, negating any value.
I worked through college. I took community college courses where I could to reduce costs. I paid off my debts. And I am ignored.
This benefits those who were irresponsible or are privileged.
Government works for the working class my ass. Damn
Nobody in government works at all
If you have a college education you are not working class
@@blarghblarghblargh
Pelosi worked pretty hard in insider trading.
Biden worked pretty hard in enriching his family.
Sanders worked pretty hard selling himself out.
They work hard. Just not for us.
M o r a l. H a z a r d.