View single post by Blazer
 Posted: Fri Feb 5th, 2021 05:27 am
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Joined: Sun Sep 4th, 2011
Posts: 8134
What do you guys think of this proposal to forgive everyone's student loan debt up to $50k?

I know going to college now costs a small fortune, but the ramifications of this are mind numbing-

1) What about people who chose not to go to college because they couldn't afford it?
2) What about people who chose to go to a different, perhaps inferior school because they couldn't afford it?
3) What about people who chose a different degree/program to study because of fees?
4) What about people who kept their original choice and worked and sacrificed, gave up vacations, worked two jobs, drove a shitty car, ate pork and beans out of a can to make it happen?

Other questions:
1) What about people who just finished paying their loans off last year or a few years ago?  They're now shit out of luck?
2) What about people who paid their loans off 20 years ago?  Do they get a check in the mail with interest?
3) What about people who have shitty mortgages on houses they purchased in 2006 or 2007 before the housing bubble burst.  There are STILL people underwater.  Can you float them a $50,000 check?
4) So, you're going to basically give away $50,000 to millions of people, which is the equivalent to a year's salary for some people, so now we're talking about re-distribution of wealth.  Who's going to pay for this?  Is the government printing more money?  Or does the rest of the country have to pay for it through a tax increase? If the latter, then we're saying not only did these people not get a free $50,000, but now they have to pay more to underwrite this.  
5) Keep printing money, and the other way this is going to bite us in the ass is with inflation.  Prices at the grocery stores over the last five years have already gone insane.  $4 for a bag of oyster crackers?  Loaves of break $7?  Milk $5-6?  GTFO.

Is there a problem with the universities and college tuition?  Yes.  Is this the way to solve it?  In my opinion, fuck no.

Last edited on Fri Feb 5th, 2021 05:30 am by Blazer

"Well, maybe I like the nightlife just a little bit more than I like the damn gym, jack! And when you're makin' $500,000 a year, there ain't no reason to change what you're doing." - Dusty Rhodes, 1/4/1986