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Aug 25 2022 08:14am
Quote (Black XistenZ @ 25 Aug 2022 15:40)
You might not remember it, but it was very criticial of the Trump tax cut bill back in 2017 when it was passed. I said that cutting the very high American corporate tax rate was the right move, but that cutting it all the way down to 21% was going a bit too far, and more importantly that more of the tax cuts should have gone to the working and middle class than the rich or corporations. I also criticized that the Trump tax cuts would increase the deficit.

I'm not joking when I say that I'm "moderate" on economic issues...


the massive tax code loopholes still exist and get exploited, while the tax breaks were overwhelmingly used on stock buybacks, not job creation / modernisation / preventing corporations from moving abroad. the whole "the corporate tax rate simply is too high (complete bs if you compare ACTUALLY paid corporate taxes with european countries for example) and lowering it will vitalise the economy" talking point has been thoroughly debunked by reality.
there were MASSIVE tax breaks to millionaires and billionaires, people trump REPEATEDLY insisted would not see their taxes reduced under him - yet in reality they profited the most - significantly more than the middle / working class. it was a scam, a massive handout to the rich and corporations. we all know that. did it hurt him politically? not at all, even his poorest followers insisted it was a good thing, completely ignoring all those facts.

my point here is that basically NOTHING, as devastating or politically unwise it would be in a functioning democracy, will break the partisan divide within the american oligarchy - it's the beast that people like mitch mcconnell and all the other corporate owned frauds created. exploiting the land and the people, while riling them up against each other is the whole point of that system. those morons will gladly vote against their own best interest if they feel the "others" are getting fucked over more. corporate propaganda has made the overwhelming majority of americans into uncritical, hyper-partisan puppets.

your idea that policies themselves have this major impact on voting simply doesn't apply to america in the way you'd expect to from a european perspective. it's much more important who effectively spins it, and manipulates voting (through restrictions / gerrymandering / misinformation...) in their desired way - and to be fair, republicans have been MUCH better at that - otherwise they would have been literally irrelevant for decades...
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Aug 25 2022 08:17am
"Student loan cancelation is a political bribe for young voters."

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The plan would still, according to the Wharton School of Business, offer up to 73 percent of its benefits to the top 60 percent of income earners; the vast majority of the benefits would not go to the bottom 40 percent—the actual poor and working class people progressives say student cancelation is for.


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The inescapable reality is that Biden's plan doesn't fix the mess we're in at all. It simply puts a bandaid on a bullet hole and hopes that'll stop the bleeding.


Quote
One of the main reasons tuition prices have surged is the federal student loan program, which has vastly subsidized and inflated demand, a textbook way to increase prices. You don't have to take my word for it: A New York Federal Reserve study found that every dollar in subsidized federal loans led to a 60 cent increase in tuition rates. Similarly, a Harvard analysis found that tuition prices have risen much more at schools that accepted federal aid than those that don't accept it.


https://www.newsweek.com/student-loan-forgiveness-bribe-young-voters-opinion-1736645

This post was edited by Black XistenZ on Aug 25 2022 08:17am
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Aug 25 2022 08:28am
Quote (Black XistenZ @ Aug 25 2022 10:17am)
"Student loan cancelation is a political bribe for young voters."







https://www.newsweek.com/student-loan-forgiveness-bribe-young-voters-opinion-1736645


And?

They all do it, making moves to win voters. Nothing new....
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Aug 25 2022 08:31am
$2 trillion tax scam for the super rich and $750 billion in PPP loan forgiveness = Republicans celebrate making their big donors happy

$300 billion in student-debt cancellation = Republicans throw a tantrum because the working class gets assistance


Trump gave a $1.5 trillion tax cut to the ultra rich and corporations. And added $7.8 trillion to the debt overall.

This post was edited by Sixers on Aug 25 2022 08:37am
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Aug 25 2022 08:33am
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Aug 25 2022 08:35am
Quote (Black XistenZ @ Aug 25 2022 09:17am)
"Student loan cancelation is a political bribe for young voters."







https://www.newsweek.com/student-loan-forgiveness-bribe-young-voters-opinion-1736645


This is mostly true, but has positive tertiary effects on middle aged working class people. we're at an unprecedented level of 20-30 year olds living at home with parents. many of them doing so because their income doesnt support living on their own or even with room mates. the 5% income cap and relief may result in this decreasing. boomers love nothing more than their 30 year old kid finally moving out for good.
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Aug 25 2022 09:04am
Quote (thesnipa @ 25 Aug 2022 16:35)
This is mostly true, but has positive tertiary effects on middle aged working class people. we're at an unprecedented level of 20-30 year olds living at home with parents. many of them doing so because their income doesnt support living on their own or even with room mates. the 5% income cap and relief may result in this decreasing. boomers love nothing more than their 30 year old kid finally moving out for good.


Fine, but like the article says, the amount of student loan debt hanging over people's head will be back at the current levels in just 4 years. This does nothing to solve the underlying issues.
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Aug 25 2022 09:05am
I feel bad for the people who are working 40 hours and in college who do not have student loans. Imagine all those hours you slaved at working a fast food/grocery/retail job and you probably weren't even an all "A" student, meanwhile susieq does not work and parties everywhere off her student loans and they are forgiven
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Aug 25 2022 09:18am
Quote (aota @ Aug 25 2022 05:05pm)
I feel bad for the people who are working 40 hours and in college who do not have student loans. Imagine all those hours you slaved at working a fast food/grocery/retail job and you probably weren't even an all "A" student, meanwhile susieq does not work and parties everywhere off her student loans and they are forgiven

I don't like Biden and don't think he had some noble motives behind the move but a relief is a relief. You can never satisfy all parties involved that's why the word consensus exists. That susieq and your not so A working student are going to profit both, just one more than the other. Wuhan virus, economical crisis and inflation call for drastic measures. Be happy there is any relief at all. Beggars can't be choosers.

This post was edited by babun1024 on Aug 25 2022 09:18am
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Aug 25 2022 09:29am
The whole higher education model is fundamentally broken. Obviously it's outlandishly expensive, and to add injury to insult, the pay to win shenanigans has watered down the value of the actual degree which was supposed to justify the expense.

The old saying of 'google it' is working better than post secondary ed. Most of the interwebs professional training courses are better authored than state accredited college courses. I've gotten way more value out of those than full fledged college courses with lab. Next generation of successful professionals will just bypass college entirely.

This post was edited by RedFromWinter on Aug 25 2022 09:30am
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