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So, Dave Ramsey....on car buying....

quicksparks said:
I think wiping student debt clean lowers the tide.
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Not lowers the tide but it's problematic if we don't address the causation

yodaisgod said:
We can talk about top down economics, but 99% of us won't get it.
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like corporate taxes or something

ScarySpikes said:
Though, to be clear, for my purposes, I don't just want the cost of college to align with what people can afford. I want public colleges to be completely free, possibly even coming with a modest stipend for living expenses, books, etc. This is as someone who went to a private college (which would not be free) and graduated with no student loans, IE: I don't directly benefit from this at all. We are simply better off as a country having a very well educated populace.
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Fully agreed. I also think we should expand it to the trades. Life isn't getting less complex... we need a more educated workforce. Technology is getting into everything. We're slipping behind.

quicksparks said:
I don’t see this as a 1% thing or a supply side thing. I see forgiving student debt as a printing money thing.
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ScarySpikes said:
How is it printing money? like 95% of student loan debt is owned by the government, not private entities, the government can just decide not to collect payments. Not a dollar need be printed to do this.
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Yep, the money is tax payer money that has been already been appropriated.
 
MysterYvil said:
You truly have no clue. Do you only socialize within your narrow peer group? I am stunned at just how much you don't know but are confident about.

.
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Uh, yeah I only socialize with my peers. Isn’t that the definition of socializing, and peers? If your data is limited to what your friends are telling you, then it’s limited indeed.

.2% (point two) of the country is homeless. Now if you’ll kindly explain why what I said was lacking truth or evidence, I’ll listen.
 
Yakoo752 said:
Yep, the money is tax payer money that has been already been appropriated.
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I think you took me too literally. I see this as creating value out of thin air. It’s the same as paying someone with printed money that has no basis in real value. The effect on the economy and the national debt is the same.
 
I don’t think it creates new value. It just transfers that value back into the economy differently.

Currently, the interest earned is solely used to pay the 10 different servicers (Nelnet etc)

Probably best to put the money directly into the economy and let capitalism determine its best flow ;)

Edit: who suffers when students start defaulting in these loans? The entire collegiate school system. Let them burn it down then higher education in the US can be bailed out like banks
 
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quicksparks said:
Yup, all those teacher’s salaries and building upkeep just got paid for with this mystical government cheese of which there is a limitless supply.
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Do you understand the concept of an investment?

On average, a college graduate, over their entire lifetime, will pay over half a million dollars in tax (510,814 as of 2015) The government will expend about 130k on services for that college graduate over their lifetime. That is a net gain of over 380k.

On average, a high school graduate will pay about 240k in taxes over their lifetime (237,369 as of 2015), The government will expend over 210k on services for that high school graduate over their lifetime (That's a net gain of less than 30k.
 
But the role of the government and other citizens is not to invest in their peers but to exploit them for capitalistic advantage at all costs

:laughing
 
Kornholio said:
Cool...now read and absorb the words instead. That's what matters.
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It's OK, I'm capable of two things at once. I can read the words and also point out how ironical it is that the dude has made a career out of pretending to be blue collar.
 
ScarySpikes said:
Do you understand the concept of an investment?

On average, a college graduate, over their entire lifetime, will pay over half a million dollars in tax (510,814 as of 2015) The government will expend about 130k on services for that college graduate over their lifetime. That is a net gain of over 380k.

On average, a high school graduate will pay about 240k in taxes over their lifetime (237,369 as of 2015), The government will expend over 210k on services for that high school graduate over their lifetime (That's a net gain of less than 30k.
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Oh is that a fact? Then why are we even discussing the problem of college graduates who want their loans forgiven because they can’t repay them? Hmmmmm
 
mikev said:
It's OK, I'm capable of two things at once. I can read the words and also point out how ironical it is that the dude has made a career out of pretending to be blue collar.
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Wait, a TV personality is a hypocrite? You don't say! :nchantr



Seriously, the far more important take away is that, regardless of his fucking station in life, the man actually makes a point of sticking his neck out for blue-collar workers instead of making fun of them and calling them stupid/ignorant/poor, etc.
 
Kornholio said:
I dunno, Matt. That's like suggesting trickle-down economics works....which it doesn't.
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Well, that’s a much bigger topic but sure I disagree in this instance.

As it pertains to student loans, in an attempt to democratize the collegiate experience for the poors, the government got caught with its pants down.

It now gets stuck holding the bag either way. They either waive the debt and the money returns to the economy or the keep the debt in place depressing the economy because the poors can’t reinvest their money in their local economies.

Far more complex then this honestly but I’m on my phone and you already know my position on this.
 
Yakoo752 said:
Well, that’s a much bigger topic but sure I disagree in this instance.

As it pertains to student loans, in an attempt to democratize the collegiate experience for the poors, the government got caught with its pants down.

It now gets stuck holding the bag either way. They either waive the debt and the money returns to the economy or the keep the debt in place depressing the economy because the poors can’t reinvest their money in their local economies.

Far more complex then this honestly but I’m on my phone and you already know my position on this.
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If you're focusing primarily on student loans and not speaking relatively about the economy in general, then yeah I'd agree.
 
East Bay Mike said:
If their loans are forgiven, I want to be paid whatever the average loan is, because I didn’t take out a loan.
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Yes, we've already established that a ton of people have the "I got mine, fuck everyone else" attitude.
 
mikev said:
Yes, we've already established that a ton of people have the "I got mine, fuck everyone else" attitude.
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Thanks. Just wanted to make sure my vote was heard.

If someone wants their student debt forgiven, they better be eating ramen, on a flip phone, and driving a pinto for a long, long time.
 
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