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Posted: 1/25/2021 1:44:16 PM EDT
[#1]
Yes, because those people pay taxes....
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Posted: 1/25/2021 1:44:28 PM EDT
[#2]
Jokes on them, we've been banking all the money we haven't had to pay towards our student loans for the last year and when Saint Biden pays them off I can afford the taxes.
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Posted: 1/25/2021 1:44:35 PM EDT
[#3]
I think universities should be the ones holding the bag, not tax payers. The price of tuition is a joke and the only reason it goes unchecked is because anyone can get as much as then need from a loan backed by the gov.
Make the universities pay out of their huge endowments for students of theirs that don't pay back loans. |
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Posted: 1/25/2021 1:44:54 PM EDT
[#4]
Duh...
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Posted: 1/25/2021 1:45:50 PM EDT
[#5]
Same reason young dumb children want to spend all their money now and not invest or save.
Left manipulates the ignorant. Why do you think they wanted 16yr olds to vote. |
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Posted: 1/25/2021 1:45:51 PM EDT
[#6]
Would be nice, but they will just change the tax code so if you are under employed you won't pay taxes on it.
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Posted: 1/25/2021 1:46:16 PM EDT
[#7]
Lol. They will just wave the tax too.
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Posted: 1/25/2021 1:46:29 PM EDT
[#8]
Even then its a good deal for those who get it. To pay it off on your own you get taxed on the money you made before you get to pay it off. Not seeing the downside for those who neckbeard the program if it does come about. The rest of the people are getting waxed.
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Posted: 1/25/2021 1:48:10 PM EDT
[#9]
Quote HistoryQuoted: Jokes on them, we've been banking all the money we haven't had to pay towards our student loans for the last year and when Saint Biden pays them off I can afford the taxes. Same. I owe 10 grand and have 10 set aside in my savings to pay it off. The govt will get their money one way or another through taxes or through you paying them off over 30 years. It’s a get their money now or get it later type deal. I’ve had my loans for 5 years paying a bunch of them off. If trump was re elected I was going to write a check. Now I’ll hold on |
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Posted: 1/25/2021 1:49:00 PM EDT
[#10]
Quote HistoryQuoted: I think universities should be the ones holding the bag, not tax payers. The price of tuition is a joke and the only reason it goes unchecked is because anyone can get as much as then need from a loan backed by the gov. Make the universities pay out of their huge endowments for students of theirs that don't pay back loans. You get it. The universities have no real stake in the game. It doesn’t bother them if someone unqualified for college gets in and then fails/drops out in a year. They take the student loan money and keep building overbuilt student centers, etc and when they need more money they just hike the tuition. |
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Posted: 1/25/2021 1:49:28 PM EDT
[#11]
Watching them cry over a $60000 tax bomb would be pure entertainment.
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Posted: 1/25/2021 1:50:56 PM EDT
[#12]
So, the Dept of Ed looses all those loans and the Dept of Treas. gets a bonus from the taxed income from debt relief, while the average taxpayer has to foot the bill for the rest?
And this is going to help us? |
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Posted: 1/25/2021 1:52:34 PM EDT
[#13]
it will still be a 70-90% discount
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Posted: 1/25/2021 1:53:04 PM EDT
[#14]
Quote HistoryQuoted: You get it. The universities have no real stake in the game. It doesn’t bother them if someone unqualified for college gets in and then fails/drops out in a year. They take the student loan money and keep building overbuilt student centers, etc and when they need more money they just hike the tuition. Quote HistoryQuoted: Quoted: I think universities should be the ones holding the bag, not tax payers. The price of tuition is a joke and the only reason it goes unchecked is because anyone can get as much as then need from a loan backed by the gov. Make the universities pay out of their huge endowments for students of theirs that don't pay back loans. You get it. The universities have no real stake in the game. It doesn’t bother them if someone unqualified for college gets in and then fails/drops out in a year. They take the student loan money and keep building overbuilt student centers, etc and when they need more money they just hike the tuition. Not making Universities responsible for this also means that they won't change things in the future. Kids will sign up for larger and larger loans, assuming that it will just get waived by big daddy gov't. Progressives never actually deal with the issue, they just get someone else to pay for it (also see healthcare). |
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Posted: 1/25/2021 1:54:29 PM EDT
[#15]
The dems will find a way to absolve them of their tax debt - probably attach it to a budget bill and deal with it through reconciliation. Republicans will sue.
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Posted: 1/25/2021 1:55:33 PM EDT
[#16]
What’s the plan for preventing a reoccurrence of this problem?
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Posted: 1/25/2021 1:55:37 PM EDT
[#17]
Quote HistoryQuoted: Lol. They will just wave the tax too. Govt loves taxes as much as power. |
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Posted: 1/25/2021 1:56:16 PM EDT
[#18]
That is like saying "I dont want to win the lottery so I dont have to pay all the taxes".
Kinda letting the tail wag the dog? Wish I would have taken out loans and be able suck off the tit of the gov. with handouts. Being responsible is for suckers! |
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Posted: 1/25/2021 1:56:53 PM EDT
[#19]
The solution to student loan debt is allowing bankruptcy. Anything else is a half measure.
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Posted: 1/25/2021 1:57:55 PM EDT
[#20]
Quote HistoryQuoted: it will still be a 70-90% discount This. The joke is on no one but the tax payers. That's where the debt will end up |
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Posted: 1/25/2021 2:00:07 PM EDT
[#21]
Anything to destroy the middle class.
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Posted: 1/25/2021 2:00:26 PM EDT
[#22]
Quote HistoryQuoted: That is like saying "I dont want to win the lottery so I dont have to pay all the taxes". Kinda letting the tail wag the dog? Wish I would have taken out loans and be able suck off the tit of the gov. with handouts. Being responsible is for suckers! I'll suck extra hard for you.  
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Posted: 1/25/2021 2:02:19 PM EDT
[#23]
Can't they just change the tax rules for that one time occurrence?
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Posted: 1/25/2021 2:02:45 PM EDT
[#24]
I doubt it. They managed to fraud an election. You don't think they don't know this? It'll be forgiven tax free and college will be "free".
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Posted: 1/25/2021 2:06:16 PM EDT
[#25]
Quote HistoryQuoted: Not making Universities responsible for this also means that they won't change things in the future. Kids will sign up for larger and larger loans, assuming that it will just get waived by big daddy gov't. Progressives never actually deal with the issue, they just get someone else to pay for it (also see healthcare). Quote HistoryQuoted: Quoted: Quoted: I think universities should be the ones holding the bag, not tax payers. The price of tuition is a joke and the only reason it goes unchecked is because anyone can get as much as then need from a loan backed by the gov. Make the universities pay out of their huge endowments for students of theirs that don't pay back loans. You get it. The universities have no real stake in the game. It doesn’t bother them if someone unqualified for college gets in and then fails/drops out in a year. They take the student loan money and keep building overbuilt student centers, etc and when they need more money they just hike the tuition. Not making Universities responsible for this also means that they won't change things in the future. Kids will sign up for larger and larger loans, assuming that it will just get waived by big daddy gov't. Progressives never actually deal with the issue, they just get someone else to pay for it (also see healthcare). If the university was responsible for paying back loans where the borrower defaulted then they would have an incentive to keep that from happening. One way would be to lower the cost of tuition so they(the university) wouldn't be responsible for so much loan debt. Another would be to ensure students who left the university had the best possible chance to pay back the loans by giving them an actual education that is worth something in the real world. Here's an example: Uni#1 offers a degree in "Gender fluidity" for $200k. Uni#2 has an electrical engineering program for $50k. Under the current system it doesn't matter where the student gets the money, the university gets to keep all of it. IF the university was on the hook for unpaid loans Uni#1 would have a real problem in a short amount of time and be forced to change their model. |
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Posted: 1/25/2021 2:07:18 PM EDT
[#26]
Pfhttttttttttttttt. Right. You haven't heard about the crisis in unaffordable back taxes that are strangling the unprivileged masses?
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Posted: 1/25/2021 2:12:29 PM EDT
[#27]
Quote HistoryQuoted: What's the plan for preventing a reoccurrence of this problem? |
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Posted: 1/25/2021 2:14:33 PM EDT
[#28]
They will make it not taxable with the stroke of a pen. Exactly as they did for certain disabled veterans.
Is student loan disability discharge taxable? More notably, for certain student borrowers, it changes the tax exemption status of discharged student loans. As of January 2018, discharged student loan debt is no longer considered income. Any student loan debt that is discharged due to death or total and permanent disability (TPD) is no longer taxable. Student loan forgiveness |
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Posted: 1/25/2021 2:18:08 PM EDT
[#29]
Those who whine and bicker for "student loan forgiveness" are some of the most entitled cunts in society.
Sorry Karen, it's not my fault your gender studies degree isn't getting you a high-paying job anywhere. Should've made better choices. |
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Posted: 1/25/2021 2:18:44 PM EDT
[#30]
Quote HistoryQuoted: They will make it not taxable with the stroke of a pen. Exactly as they did for certain disabled veterans. Is student loan disability discharge taxable? More notably, for certain student borrowers, it changes the tax exemption status of discharged student loans. As of January 2018, discharged student loan debt is no longer considered income. Any student loan debt that is discharged due to death or total and permanent disability (TPD) is no longer taxable. Student loan forgiveness Exactly this. All they have to do is write it so that its tax free forgiveness. The IRS may or may not fight it. With the current admin, probably not fight. |
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Posted: 1/25/2021 2:19:59 PM EDT
[#31]
That 1099 is going to hurt.
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Posted: 1/25/2021 2:20:13 PM EDT
[#32]
It's a problem for little people. Some little guys fall for the memes, some exploit them, and some get butthurt about the first two groups; but they're a symptom of the US leaving industrial capitalism and becoming a finance-centered economy, like housing prices or weird wage to PPP curves.
Yeah, it's bad policy. But if you're unironically criticizing the victims, it's probably cope, because you have only yourself to blame for missing the banking train. |
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Posted: 1/25/2021 2:23:37 PM EDT
[#33]
I think you need to separate Federal Loans from Privet Loans.
The gov't can deal the way they want on their loans, but I doubt they can act directly without the issuer's approval on private loans. In this environment, Private loans carry very high interest rates. |
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Posted: 1/25/2021 2:24:43 PM EDT
[#34]
Quote HistoryQuoted: Can't they just change the tax rules for that one time occurrence? They could, and I wouldn't doubt it if they do, but Uncle Sugar Cookie wants his money so they'll find a way to tax someone for it. |
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Posted: 1/25/2021 2:25:24 PM EDT
[#35]
People that don't repay loans typically aren't paying taxes
I wouldn't be surprised if they go so far to just call it tax free in the first place |
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Posted: 1/25/2021 2:26:01 PM EDT
[#36]
In case nobody knows:
People who are on low-income welfare who all of as sudden have to declare a $40k (or whatever) income increase for the tax year will loose out on all those low income bennies. Of course, they could just change the laws to avoid that, but as it sits... |
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Posted: 1/25/2021 2:26:40 PM EDT
[#37]
Quote HistoryQuoted: What’s the plan for preventing a reoccurrence of this problem? That’s a feature, not a defect. |
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Posted: 1/25/2021 2:27:44 PM EDT
[#38]
Quote HistoryQuoted: Watching them cry over a $60000 tax bomb would be pure entertainment. Keep your pants on, it's only 10k they are "forgiving". |
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Posted: 1/25/2021 2:27:57 PM EDT
[#39]
How many with student loans voted for Biden thinking he would pay them off?
Surely enough to defeat Trump in the very close battleground states. Well folks, that's how Socialism works......... |
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Posted: 1/25/2021 2:40:19 PM EDT
[#40]
Quote HistoryQuoted: What’s the plan for preventing a reoccurrence of this problem? Same plan as with immigration, just do an amnesty every 30-40 years. By then the electorate will "demand" action again. |
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Posted: 1/25/2021 2:44:24 PM EDT
[#41]
Quote HistoryQuoted: How many with student loans voted for Biden thinking he would pay them off? Surely enough to defeat Trump in the very close battleground states. Well folks, that's how Socialism works......... way too many of my peers, which also made me aware of how many of my peers in their mid-30s have loans left |
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Posted: 1/25/2021 2:46:31 PM EDT
[#42]
No shit, I said this months ago.
It kills the banks but is a huge boon to the raise unrealized tax income for the fed. Win win for the fed. Uneducated people see it as a blessing until the tax bill cones from IRS and garnishment begins. |
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Posted: 1/25/2021 2:47:06 PM EDT
[#43]
Normally that would be true but there is talk of writing the legislation in such a way as to make it non-taxable.
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Posted: 1/25/2021 2:47:37 PM EDT
[#44]
Quote HistoryQuoted: What’s the plan for preventing a reoccurrence of this problem? Free Bachelor's Degree with purchase of HS diploma. |
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Posted: 1/25/2021 2:48:47 PM EDT
[#45]
Quote HistoryQuoted: The solution to student loan debt is allowing bankruptcy. Anything else is a half measure. This. |
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Posted: 1/25/2021 2:49:04 PM EDT
[#46]
Public service loan isn’t subject to taxes. I think so anyways
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Posted: 1/25/2021 2:50:38 PM EDT
[#47]
IIRC, there are retirees having their SS benefits garnished to recover outstanding student loan debt.
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Posted: 1/25/2021 2:52:55 PM EDT
[#48]
Quote HistoryQuoted: The solution to student loan debt is allowing bankruptcy. Anything else is a half measure. Plus, not having them backed with tax payer money. |
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Posted: 1/25/2021 2:53:46 PM EDT
[#49]
You guys are crazy if you don't think they're going to also take of the tax issue.
They're not going to forgive the loans and then hit then for taxes to the IRS that if not paid has penalties and interest. It'll be written so that all is forgiven. |
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Posted: 1/25/2021 2:57:05 PM EDT
[#50]
Quoted: Federally backed forgiven debts are considered income. Two things to note: 1. Any debt forgiveness is income. 2. Who writes and rewrites the tax laws? |
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