Woah there Skippy, how much is all that free shit going to cost us? 70% of our income to taxes?
@#$@% that!
Sure.
Let's do those next.
There have to be limits on this.
Please rationalize to me how a single person out of college making $60,000 a year needs to have their $18,000 worth of student debt eliminated. They should be able to pay that off in a year or two.
Phase it in, it doesn't all need to be instantaneous.But her plan would eliminate the debt of my example as well (and hundreds of thousands, if not millions, like it).
Which is Kooky.
After watching republicans siphon off money to enrich themselves I'm all in on this one.
Accusations of vote buying is for when candidates make populist promises that will never see the light of day. Student loan forgiveness and free public universities is treating the symptoms, not curing the underlying cause.Right, but promising to enact policies that help people in order to get votes is basically the entire point of democracy.
Just to be factual, the average debt is about 37k.
70% of your second $10 million. You only have to pay regular tax rates on your first $10 million. I assume there will also be a significant bump in tax rates for your income over $1 million as well, but not 70%. I hope you don't have to lay off too many servants to deal with this hardship. It would be more ethical to keep them on the payroll and cut back to a single private jet.Woah there Skippy, how much is all that free shit going to cost us? 70% of our income to taxes?
@#$@% that!
70% of your second $10 million. You only have to pay regular tax rates on your first $10 million. I assume there will also be a significant bump in tax rates for your income over $1 million as well, but not 70%. I hope you don't have to lay off too many servants to deal with this hardship. It would be more ethical to keep them on the payroll and cut back to a single private jet.
You are right. Let's cut Medicare and Social Security instead.Unacceptable, my stable of purebred Bichons would have to fly a chartered turboprop on the way to their summer beachfront compound instead of the Gulfstream. Have you no shame?
It'll cost trillions less than what that pointless war in Iraq you supported cost us.Woah there Skippy, how much is all that free shit going to cost us? 70% of our income to taxes?
@#$@% that!
While raising the payroll tax damnit!You are right. Let's cut Medicare and Social Security instead.
100% agree with you on this. My engineering degree tuition for example here in Canada by the 4th year was nearly doubled what it had been in 1st year. The universities themselves need to have more funding from the gov't...it is an investment in future workers/spenders IMO. If other 1st world countries can have free/nearly free higher education, why not here in North America? They're not ebil soshulizts by any means!I just wanted to bring up the real issue. Universities are charging way too much for a 4-year degree. We need to get to the root of the matter.
The GOP has to be anti-education.
The alternative would involve them having to change and they clearly couldn't stomach that.
They don't want people bothering with higher education, especially the lower classes.So being against student loan forgiveness is the same as being against education?
Some would argue that paying back the terrible loan you agreed to is its own form of education...
So.. what you suspect and what is reality are 2 very different things. Mortgages aren't car loans. They are subject to very different laws and regulations, some federal, all state.
Most states are non-recourse for primary residence first mortgages with regards to that 'fat bill,' also known in debt circles as the 'deficiency balance.' 'Non-recourse' means that the lender must accept the funds received from the foreclosure auction as settlement of the debt in full, even if those funds are less than the balance owed. In those cases, the lender does charge off the deficiency balance and issue a 1099 to the borrower for that amount, because the IRS does define the portion of a debt not repaid as income. However, if the foreclosed mortgage was used to purchase the property, then that 1099 is not taxable income per the Mortgage Forgiveness and Debt Relief Act.
In those states that do allow lender recourse for primary residence first mortgages, the lender must pursue a more costly and lengthy judicial foreclosure process (required in many states anyway), and then must be awarded a deficiency judgment in court in order to pursue the deficiency balance. These are not that common.
In all cases, this varies by the laws of the state the property is located in. Generally, as the time it takes to foreclose and repossess the property is the most expensive part of the foreclosure process by far (because the process can take years, interest never sleeps, and defaulted borrowers rarely pay the property tax and insurance bills), a lender's primary objectives are to cure the delinquency (ie through loan modification), to settle the account (ie short sale), or to foreclose, as quickly as possible. And yes, in that order, ideally. Keep in mind that settlement of a non-performing asset often makes more sense wasting good money chasing after bad.
But yeah, I don't know anything about how this stuff works.
They're not anti-education, they're anti-equal opportunity. They want higher education to be restricted to those who were born into a family wealthy enough to pay for it. All else will have to 'earn' it through a system of indentured servitude intentionally designed to block their upward economic mobility.The GOP has to be anti-education.
The alternative would involve them having to change and they clearly couldn't stomach that.
70% of your second $10 million. You only have to pay regular tax rates on your first $10 million. I assume there will also be a significant bump in tax rates for your income over $1 million as well, but not 70%. I hope you don't have to lay off too many servants to deal with this hardship. It would be more ethical to keep them on the payroll and cut back to a single private jet.
GFY.Why would you want to rob people? That's what you're doing. Right? From an ethical standpoint why would you want to rob someone who took risks, and who worked their ass off to get to that point. I don't know what you think, but most millionaires are self made, and they work looong hours. You just don't get to sit at home watch Netflix and play video games all day when your goal is to do big things.
So again. Why do you think it's OK to rob people and to take their money.
What do you think they'll do? They'll pack up and move to another country.