Free 2 years of community college

[Jeffwhosoever]

The good news is with the GOP in charge of Congress / Senate, this whole proposal is nothing more than a rally for 2016. It has as much of chance of passing as does the repeal of Obamacare.

If Obama were serious, he would start by offering ideas to improve the education we already fund (K-12).

 

[Brandonspapa]

A fair tax code is one that causes the same pain to everyone. A hard working family just trying to get by is hurt more by a 5% tax than someone making 10 million a year. Also, the people making millions are the ones taking jobs away from hard working people and shipping them over seas.

That is not a fair tax. A fair tax is a flat tax. Otherwise you are giving preferential tax treatment to low wage earners. Don't you want "equality" in the country or do you want preferential treatment? You can't have both.
And gee, aren't you the one who was just defending those who make millions of dollars as paying more than their fair share of taxes? Now you accuse them of shipping jobs overseas to "take" jobs from Americans (and not pay taxes)?

 

[dogs4thewin]

In a bankruptcy, you can write off debt and not have to pay it off. This is true of car loans, house loans, medical expenses, and lines of credit. You can't do that with student loans. The government guarantees that you will pay it off no matter what.

I understand that, BUT even in bankruptcy if someone is filing for it they will get ruined credit, as a result. If I have student loans and either Don't pay them off or CANNOT pay them off. What do I get? Well I get destroyed credit. When that last red cent is PAID off if I have kept up with my loans I WILL have good credit. That is what is great about student loans, you do not need much, if any, credit to get them, but if you pay them off on time they build credit.

 

[Loudmouth]

That is not a fair tax. A fair tax is a flat tax. Otherwise you are giving preferential tax treatment to low wage earners.

Not when you factor in cost of living. If we calculate that it takes about 20k/person to adequately clothe, feed, house, and support a family, then it becomes quite clear that a flat tax doesn't work. A person making 40k needs 20k to live, meaning that they are actually paying a 10% tax rate once cost of living is factored in. You also need to factor in SS and Medicare taxes which cap out at around 100k income, if memory serves. On top of that, you need to factor in state sales tax. People with less income tend to spend a larger portion of their income on items that have sales tax. In states that use fees to make up for a lack of sales tax, you have set registration fees that preferrentially favor the rich.

A flat tax doesn't make sense. A progressive tax rate with no deductions or loopholes does make sense.

Don't you want "equality" in the country or do you want preferential treatment?

If you want economic equality, then you should start with the disparity in incomes before complaining about tax rates. A flat tax gives preferential treatment to the rich, as I discuss above.

And gee, aren't you the one who was just defending those who make millions of dollars as paying more than their fair share of taxes? Now you accuse them of shipping jobs overseas to "take" jobs from Americans (and not pay taxes)?

Where did I defend them? I think everyone knows that some people are getting rich by hiding their money in tax shelters and shipping American jobs overseas.

 

[Loudmouth]

I understand that, BUT even in bankruptcy if someone is filing for it they will get ruined credit, as a result. If I have student loans and either Don't pay them off or CANNOT pay them off. What do I get? Well I get destroyed credit.

You have destroyed credit, and you still have the debt. That is the danger of student loans. The average student loan debt right now is 30k. That's a lot of debt for someone just out of college and starting their career.

 

[keith99]

Not when you factor in cost of living. If we calculate that it takes about 20k/person to adequately clothe, feed, house, and support a family, then it becomes quite clear that a flat tax doesn't work. A person making 40k needs 20k to live, meaning that they are actually paying a 10% tax rate once cost of living is factored in. You also need to factor in SS and Medicare taxes which cap out at around 100k income, if memory serves. On top of that, you need to factor in state sales tax. People with less income tend to spend a larger portion of their income on items that have sales tax. In states that use fees to make up for a lack of sales tax, you have set registration fees that preferrentially favor the rich.
....

So paying the same fee for the same service is favoring the rich?

 

[Loudmouth]

So paying the same fee for the same service is favoring the rich?

If we are talking about fees gathered for tax revenue, yes. A good example is car registration fees. In states that do not have income tax, they often have high car registration fees to make up for the lack of tax revenue (e.g. Washington). A flat fee is a much larger proportion of income for lower tax brackets than higher tax brackets. It clearly favors the rich. Flat fees are a regressive tax which is even worse than a flat tax.

 

[ToBeBlessed]

You have destroyed credit, and you still have the debt. That is the danger of student loans. The average student loan debt right now is 30k. That's a lot of debt for someone just out of college and starting their career.

Did you guys know that there is more student loan debt in the U.S. than credit card debt?

And those loans have interest rates, so while they are paying their payments the remaining balance is still getting socked with interest rates. It is a MAJOR problem in the U.S. right now. And these are people/students who have attended college.

In Wisconsin, our community college charges 124.00 per credit, which is a steal compared to what the 4 year universities charge.

I'd also like to mention and I am not advocating for either side that currently almost every student qualifies for a grant, like the PELL grant. Maybe... and this is maybe... Obama is figuring in all the grants and other subsidies that are already in place. But I don't want to give any politician too much credit because they're all somewhat crooked in my opinion.

 

[ToBeBlessed]

The good news is with the GOP in charge of Congress / Senate, this whole proposal is nothing more than a rally for 2016. It has as much of chance of passing as does the repeal of Obamacare.

If Obama were serious, he would start by offering ideas to improve the education we already fund (K-12).

That's really what I'm wondering about. Is this really something that might go through or is it a political move. These politicians are all corrupt. It's like when they pass something and then it has 222 sub things in it too. :o I don't remember what they are called, but you know what I mean.

 

[dogs4thewin]

You have destroyed credit, and you still have the debt. That is the danger of student loans. The average student loan debt right now is 30k. That's a lot of debt for someone just out of college and starting their career.

BUT again pay them off and you have good credit; which since they take little or no credit to actually get and many people will not take a risk on people with no credit is pretty good.

 

[Loudmouth]

BUT again pay them off and you have good credit;

That is the same for any loan. I was talking about what differs between student loans and other loans.

which since they take little or no credit to actually get and many people will not take a risk on people with no credit is pretty good.

Since students probably have little or no credit, the collateral they have to ante up is their entire future income. You can't write off student loans, so this means that they can garnish your wages until they get that money back with interest.

 

[dogs4thewin]

That is the same for any loan. I was talking about what differs between student loans and other loans.



Since students probably have little or no credit, the collateral they have to ante up is their entire future income. You can't write off student loans, so this means that they can garnish your wages until they get that money back with interest.

Yup do not pay up and they will MAKE you. I wonder though honest question can you write off "student" loans you took from a private lender? Student is in quotes because many times they do not actually have to say what the loan is FOR?

 

[Loudmouth]

Yup do not pay up and they will MAKE you. I wonder though honest question can you write off "student" loans you took from a private lender?

You can write off student loans that are not guaranteed by the government. However, I would suspect that such loans require collateral and a credit history.

Student is in quotes because many times they do not actually have to say what the loan is FOR?

A possibility would be an equity loan on your home, if you own one.

 

[dogs4thewin]

You can write off student loans that are not guaranteed by the government. However, I would suspect that such loans require collateral and a credit history.



A possibility would be an equity loan on your home, if you own one.

or a person willing to CO-SIGN and risk their own credit, for example, my parents pay their credit card bills have paid off several cars ( during a 30 year marriage) and no longer have a house payment because between selling two houses and good money management father was able to put 80% down a 15 year deal with LOWER payments than the VAST majority of people pay on a 30 year deal and still get half that. Now, do you think if my sister NEEDED a loan right now scholarships, Pell grant this year and out of pocket is doing, but if she NEEDED a loan. She manages her debit card well CO-Sign