2&2 Slider To Leyritz
Well-known member
I assume this loan forgiveness will be taxable income to the borrower like loan forgiveness usually is, right?
I really do. It's just a bad policy all around. Of course it will temporarily help some people (and hurt/anger others), but ultimately it's not going to fix the structural problems. It will make them worse.
What an idiot. Where does he think the PPP money went? If Bernie really wants to prove a point, he should stipulate that anyone whose paycheck was protected by the PPP loans is ineligible to receive student loan forgiveness. Get rid of the double-dippers.
LOL. I’m fine with low taxes for people earning under $125K. #teamlowtaxes wants the millionth dollar going to Wall Street instead of the government to benefit all of us.
There’s a major difference between what regular people do with an additional $10,000 vs. what wealth people do with $10,000.
The problem is there are plenty of people whose paychecks weren’t at risk, and the money that went towards them ended up as just being a complete gift to the owners. This was a large majority of the total funds.
A large majority of the total funds?
it may or may not be bad policy, but I also think that's a different question than if it is good or bad politics
A large majority of the total funds?
I think it's a loser. The people that wanted more will be disappointed, the people who are happy were voting blue anyway, and the people that paid their college loans/worked/saved/served/didn't go will hate it.
Now pretend someone is going to pay you $10,000 that they owe you and they don't.
Yes. Probably 80-90%. The PPP didn’t prevent many terminations. (There were a lot of terminations despite it)
For example, For the two companies I managed, each with 50 employees. It saved 5 jobs at one company and 0 jobs at the other. The jobs it saved were the most junior people (senior management wasn’t getting fired regardless)
Student debt forgiveness polls super well, especially means tested forgiveness (I hate means testing, but the general public seems to like it a bunch). I'd be pretty surprised if this were a big political loser.
Maybe that person who loaned you 10k shouldn't have been charging you 8.5% interest or higher on that loan. I know for my loans I paid back more than 30k in interest. So we can stop acting like the government is going to take a huge financial hit from this. The government sets the interest rates on loans, they could have lowered that substantially and made things easier, but instead a took a global pandemic. There is no reason for the interest rate on school loans to be as high as they are, so 10k is a drop in the bucket. The US govt isn't a bank for a reason.
Was that part of the program when the loan was signed ? I don't think it was. Maybe Fannie and Freddie would like to start forgiving some of the loans they back to.
Maybe that person who loaned you 10k shouldn't have been charging you 8.5% interest or higher on that loan. I know for my loans I paid back more than 30k in interest. So we can stop acting like the government is going to take a huge financial hit from this. The government sets the interest rates on loans, they could have lowered that substantially and made things easier, but instead a took a global pandemic. There is no reason for the interest rate on school loans to be as high as they are, so 10k is a drop in the bucket. The US govt isn't a bank for a reason.
why do you hate means testing?
also I read your housing article and don't want to respond in the chat thread but maybe i'll find a tunnels thread
why do you hate means testing?
also I read your housing article and don't want to respond in the chat thread but maybe i'll find a tunnels thread
I would disagree completely. The ones I was involved with, the companies would have gone under without it, with probably close to 100% terminations. Especially in the property management world given the eviction moratorium despite non-payment of rent.