"Debt Deal"

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"Full funding for Pell Grants is absolutely essential to fulfilling the president's goal of the U.S. once again having the highest proportion of college graduates in the world by 2020,"

I do not understand this goal.
 
they are giving people who cant afford to go to college money... sure understandable.. even admirable, i think its a good idea.. but to then turn around and TAX the kids who want to get higher education than that to better themselves is crap!! I feel like there is an oxymoron in there somewhere that needs to be made.
 
http://money.cnn.com/2011/08/01/news/economy/debt_ceiling_students/index.htm?hpt=hp_t2


comment.. go go...

I think this is complete and utter bull shizzle that since we got in an 11 year war they are punishing the grad/professional students. This debt is in no way our problem or our fault.

reactions?

It comes down to the richest .1% of the population, who control most of the wealth and power, not wanting to pay taxes at a rate they did 15 years ago. Therefore, even though these absurdly wealthy bankers and investors pay tax rates that are extraordinarily low while they shift more money than ever away from the U.S., most Americans will suffer in a poor economy and the "solution" is to cut spending. So students, teachers, firefighters, basically everyone will have to enjoy less benefits and pay more for things because of the wealthiest population's interest in abusing tax loopholes, diverting money overseas, and enjoying extremely low tax rates.

It's not like the President hasn't been telling everyone that the richest teeny % of people aren't paying their share, there are just too many agendas in the arena.

Anyway, that's the way it is so all we can do is work our asses off, stay focused and pay off our increasing debt in the future when we are practicing.
 
The rich get richer, the poor get poorer and the middle class pays for it all. Nice system, isn't it?
 
It is was nice while it lasted, getting our interest paid for while in school. Sure it is hard to deal with. All change is hard to deal with, but this will just make me more frugal than I already am and work a little harder when I am done. Cuts have to be made and the country has to work a little harder and make sacrifices to get out of debt, just like any family would. Having the money go towards more pell grants, I am not so convinced though. I had to pay for my college and now Podiatry school and had to pick a college I could AFFORD and get a job and live frugally. I did a lot of research to get as much assistance as I could and I managed to get through. I don't like the minority or less-privileged excuse. Opportunities are everywhere to get a college degree. You might not be able to get into the best schools but there is always somewhere cheap enough to attend and loans to get. Quit babying those with low-incomes and make them work for an opportunity...I did.
The governement needs to cut foodstamps in half and charge a little for medicaid visits. I will come out and say that I am on both of these programs because I have kids and in school. I will actually pay back into the system unlike most of the people on it. I have talked to many of the single moms on food stamps and medicaid while at the office applying for assistance and they said they lose money if they were to get a minimum wage job. You make more money getting food stamps and medicaid and not working, than having a job. The system is backwards. I appreciate the assistance I am receiving because it allows me to survive on the max student loans but I admit I receive way too much per month in food stamps and wouldn't mind paying a copay with medicaid.
How are the rich paying low taxes? I don't get that remark as the tax bracket increases with income level. Please explain. Should the government punish those Americans who put their time, money and hard work into getting an education and making good money by taking away from them even more than they do and give to those who didn't choose to follow a path to make money? I know some situations are unavoidable. Taking more money away from those with money deters them away from investing back into the community and into the economy it seems. Less will open businesses and create new jobs. I could be wrong but can you be right with politics, only time tells.
I guess every american will be upset if the spending cuts affect them personally and it seems normal to do so. We just need to work harder and appreciate those things we do have and have control over.
"Don't sweat the petty things and don't pet the sweaty things."
 
Welfare itself is so broken it's a joke. People that don't really need it get too much and those that really need the help don't get enough to survive. I can't tell you how many times my wife and I have been behind some overweight loudmouth in the supermarket, yacking away on her brand new iphone while buying buggy's full of soda and little debbie snacks only to pay for all that crap with a well worn food stamp card... and here we are eating mac and cheese for 3rd time this week, clipping coupons and substituting hotdogs for food groups.

The whole system is full of losers whose sole job is to collect benefits and then cry about life being too hard while the rest of us break our backs and give our blood, sweat and tears to support their worthless existence. You have people like myself who had to join the military to pay for school, which only paid 1000 a month for the first 36 months( a drop in the bucket), with a wife that worked 8 years of two jobs until I finished and then you have trash that flatbacks their way to a check and a free ride after spitting out 3 to 4 kids with as many men. A good example of all of this is that whole FLDS scam.

Obama can't afford to tackle the welfare problem because those are the people that got him elected. Instead he'll go after everyone else that actually puts more into the system then they use.
 
How are the rich paying low taxes? I don't get that remark as the tax bracket increases with income level. Please explain. Should the government punish those Americans who put their time, money and hard work into getting an education and making good money by taking away from them even more than they do and give to those who didn't choose to follow a path to make money?

The big issue, from what I understand is the abuse of capital gains taxes by the super rich. Capital gains tax is only ~15%, and it's my understanding that wealthiest individuals in this country are able to count virtually all of their income as "capital gains".

So my parents, who have masters degrees and work hard (but are both teachers so we are talking just over $100k combined) are taxed around 28%.

Also, my wife has a job while I'm in school and she (we) are taxed 15%. Luckily our taxable income is low with the standard deduction, my tuition, and her student loans.

My wife and I are paying the same tax % as Warren Buffet...it really makes zero sense

If you want an opinion that makes way too much sense to ever actually be implemented, talk to diabeticfootdr
 
Thanks for some further insight. I might do a little research tonight to learn more about that topic.
 
It comes down to the richest .1% of the population, who control most of the wealth and power, not wanting to pay taxes at a rate they did 15 years ago. Therefore, even though these absurdly wealthy bankers and investors pay tax rates that are extraordinarily low while they shift more money than ever away from the U.S., most Americans will suffer in a poor economy and the "solution" is to cut spending. So students, teachers, firefighters, basically everyone will have to enjoy less benefits and pay more for things because of the wealthiest population's interest in abusing tax loopholes, diverting money overseas, and enjoying extremely low tax rates.

It's not like the President hasn't been telling everyone that the richest teeny % of people aren't paying their share, there are just too many agendas in the arena.


Come on, do you really believe that? Just wait until you are successful and you end up having 60% of everything you make given to people who don't want to work and end up never paying into the system because our backwards tax code (of which the top 1% already pay the vast majority of taxes)

Taking more from those who actually work for a living and giving it to those who enjoy handouts doesn't work. Our President is tanking this country and tanking medicine as we know it. Wait until you are actually in practice and get to see how much of your money is wastind on lame gov't programs.

What we really need in this country is a little dose of self-resposibility and get off your couch and work to support your family! Pay for your own college. I don;t think the gov't should give free college to anyone with two hands and two feet.
 
I dont think we can blame ONE president here. Its like a few + stupid senators and representatives that arent doing squat.

But yes, people are becoming more and more lazy. I absolutely can stand hearing about people who are on welfare , and then they are running out of money so they have ANOTHER kid so they can get more money. Welfare, sure some people need it and its a legit program, but to milk to and cheat the system it unfair for people everywhere.
 
But what they are trying to do now is take money from kids graduating college who is 200k in debt. I mean you seem to be a podiatrist already, so atleast your not planning on atleast 200k dollars worth of debt racked up and now they tell you that they are going to tax you harder and make you owe MORE. Maybe i should get on welfare to help pay off my loans...
 
What we really need in this country is a little dose of self-responsibility and get off your couch and work to support your family! Pay for your own college. I don;t think the gov't should give free college to anyone with two hands and two feet.

I'd rather see my tax dollars that go to welfare used to support families while their parents work on their education than those that just collect checks as a career. I agree that there needs to be more oversight into who gets what loans though and that should included, in my opinion, requiring students to maintain a higher GPA than 2.0.

I actually wrote a huge paper once on ways to reform the welfare system while creating some jobs. The main point was that the "buy what you want" debit card system has got to go. States need to create workforces of nutritionist being supervised by physcians that work with the family getting benefits to create a monthly diet\shopping list that would provide the family with an ample amount of healthy food. Then they would take said list to a participating store(which all are) and the store would allow the person to fill the list with the cheapest brands of whats needed. No more name brand stuff. Basically like the woman infant child program only large scale. The newly put to work nutritionists and docs would be able to tweak the plan as needed. This would also put a sense of responsibility back into the person getting benefits because they would be forced to better plan the use of their foodstuff.

Cash benefits would also need to be changed a bit so the majority of the money would go automatically to the bills its intended for leaving the person with less to waste on things they shouldn't be buying. They would be required to have a direct deposit system set up for rent, utilities etc so the money would go straight from the state to the bills with no stop in between. Some states do this I think.

Finally, mandatory drug testing across the nation with zero tolerance. I know public housing does this already but the joke is if you get kicked out cause of drugs you still keep the benefits allowing you to go elsewhere. Test dirty = no benefits.

Not a perfect plan but a lot better than it is and I've heard politicians talk of similar ideas. I also submitted that they need to go back to those embarrassingly large colorful coupons that food stamps use to be. Put the shame back into it instead of a easy to use debit card but that was a joke....sort of.
 
Yea I just seen that on CNN... good news for us who have loans out.... i say that w/ the utmost sarcasm i can muster 😡
 
Oh no, they are going to repo the White House furniture.
 
Oh no, they are going to repo the White House furniture.

yea right, take something from the government.. ur silly. They will give the sen/reps a pay increase then repo my furniture :laugh:
 
It comes down to the richest .1% of the population, who control most of the wealth and power, not wanting to pay taxes at a rate they did 15 years ago. Therefore, even though these absurdly wealthy bankers and investors pay tax rates that are extraordinarily low while they shift more money than ever away from the U.S., most Americans will suffer in a poor economy and the "solution" is to cut spending. So students, teachers, firefighters, basically everyone will have to enjoy less benefits and pay more for things because of the wealthiest population's interest in abusing tax loopholes, diverting money overseas, and enjoying extremely low tax rates.

It's not like the President hasn't been telling everyone that the richest teeny % of people aren't paying their share, there are just too many agendas in the arena.


Come on, do you really believe that? Just wait until you are successful and you end up having 60% of everything you make given to people who don't want to work and end up never paying into the system because our backwards tax code (of which the top 1% already pay the vast majority of taxes)

Taking more from those who actually work for a living and giving it to those who enjoy handouts doesn't work. Our President is tanking this country and tanking medicine as we know it. Wait until you are actually in practice and get to see how much of your money is wastind on lame gov't programs.

What we really need in this country is a little dose of self-resposibility and get off your couch and work to support your family! Pay for your own college. I don;t think the gov't should give free college to anyone with two hands and two feet.

It's not what I believe, if you would like to look up tax revenue statistics I can provide you with the resources. I paid for my own undergrad education with loans and a job and was not provided anything from my parents.

You really think that all, or even most of our tax money is just handed to "people who don't want to work?" Do you have any clue as to what the stats are? A very small amount of the gross tax revenue goes toward the people you are referring to.

This is not a dem/repub argument. This is a 99.9% of the population versus 0.1% of absurdly wealthy who do not pay their share and instead of being held responsible for the banking crisis, they influence politicians to cut education funding and tell everyone we have to spend less on things that benefit the majority of people.

The richest 400 people in the U.S. pay close to half the percentage of taxes they paid 15 years ago. The stats are similar for the rest of the top .1%.

Keep thinking that bankers and CEO's making $5 to $50 million a year while scamming the system and outsourcing most of our manufacturing jobs are the "hard-working" Americans, while everyone that receives a publicly funded education, didn't have mommy and daddy give them everything, or maybe grew up surrounded by drugs, crime and 2 crack head parents, is a lazy person. You really think public programs, unions and education funding are what is draining our system, killing jobs and creating a debt crisis? Look up the stats, get a clue and reconsider your opinions.
 
"Participation in the U.S. Supplemental Nutrition Assistance Program (SNAP), formerly known as the Food Stamp Program, reached an all-time high in January.

The number of SNAP recipients nationwide ticked up to 44.2 million in January, 2011, or about one in seven Americans, from 44.1 million in December, 2010, according to data released by the U.S. Agriculture Department's Food and Nutrition Service on Friday.

The number of recipients grew by 4.8 million from 39.4 million recorded in January last year, and 32 million in the same month in 2009.

The total cost related to the food stamp program dropped about $21.4 million to $5.87 billion from a month earlier, as the average monthly benefit for each recipient in January decreased slightly to $132.81 from $133.61 in December, 2010.

The overall cost of the program in January 2011 was up $614.6 million to $5.87 billion from $5.25 billion in the same month a year before.

The total number of U.S. households in SNAP in January 2011 climbed above 20.7 million from just below that level in the month prior and 18.1 million in the same period in 2010.
The U.S. Food and Nutrition Service said the total number of persons enrolled in SNAP in fiscal 2011 sits at 43.8 million, up from 40.3 million in 2010 and 33.5 million in 2009."


thats some major money being spent.

Now im not saying that I dont agree w/ some points. Yes the richest people avoiding their taxes.. and even some getting a huge tax RETURN is just obsurd. They have power un-immaginable to us and we let them walk all over this. But to get back to the point of the original link (which now doesnt work 🙁 ), they should NOT be taxing students b/c of the debt we are in. They should mandate drug tests for welfare, and food stamp usage. They should tax the richest of the rich just like everyone else gets taxed, and they should start thinking about how to create jobs to raise income, rather than just keep trying to find ways to cut govnt spending. The more jobs we have , the more money we have to spend.
 
This is not a dem/repub argument. This is a 99.9% of the population versus 0.1% of absurdly wealthy who do not pay their share and instead of being held responsible for the banking crisis, they influence politicians to cut education funding and tell everyone we have to spend less on things that benefit the majority of people.

The richest 400 people in the U.S. pay close to half the percentage of taxes they paid 15 years ago. The stats are similar for the rest of the top .1%.

Class warfare is not Cool. 👎
 
http://www.heritage.org/budgetchartbook/top10-percent-income-earners

"Top earners are the target for new tax increases, but the U.S. tax system is already highly progressive. The top 1 percent of income earners paid 38 percent of all federal income taxes in 2008, while the bottom 50 percent paid only 3 percent. Forty-nine percent of U.S. households paid no federal income tax at all."


See also.

http://ntu.org/tax-basics/who-pays-income-taxes.html


Top 1% pays 38% of overall tax revenue

Top 10% pays 70% of overall tax revenue


The numbers simply don't support this idea of an under taxed rich class that somehow needs to be brought in line.
 
The problem is with what % of the rich's income is taxed. I'm sorry, but the 50k my wife brings in should NOT be taxed at a higher percentage than Warren Buffett (18% of around $50 mil), Zuckerberg, Gates, Turner, etc.

http://www.timesonline.co.uk/tol/money/tax/article1996735.ece

We don't need to raise federal income taxes on the upper 3% (those making above $250k), we need to stop allowing the super rich to avoid paying them all-together. Capital Gains tax loopholes need to be closed or the taxable % needs to be raised on them.

Also, according to the ntu website, the bottom 50% makes <$33K...these individuals make too much money to qualify for government assistance, so with all of the expenses of healthy living, how do they afford to pay any taxes?
 
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Political discussions are a lose-lose. I know since I seem to always be in one. The mess we are in is multifactorial, has been as result of policies in place for decades, and the fault of both political parties and yes every American. The super wealthy have done an excellent job of diverting attention away from themselves and turning to two sides. One side says the poor are the reason we are in this fix they are leeches and actually prefer to stay poor for free government handouts. The other side blames those who make a great living (well below the super rich) but some serious cash as getting tax breaks at the expense of the middle class, live the good life while the rest suffer. Meanwhile the super rich pay little or not taxes.

Both parties (even the fiscal conservatives) have spent like drunk sailors. We decide to become imperialists become the beacon for democracy and pick up most of the tab for the world. At the same time we give tax cuts to a level the lowest in 50 years and we allow wall street to cut corners and create a mess. And surprise the economy is a mess (although still the largest in the world). Both sides spew ideas they know will not solve the problem and bicker to a point of nausea. All to poise themselves for the next election win. The right says tax cuts trickle down (never proven and if true with the rates the lowest they have been in 50 years our economy should be booming). The left says we need to spend more to stimulate the economy without a long term plan to reduce the deficit. The solution is compromise and something Americans have not done lately shared sacrifice. Medicare, Social security, and defense spending need to be addressed before anyone is serious. They are the major costs in the US and increasing in the future. Spending needs to be controlled they can not kick the can anymore and yes revenues need to be raised. Without a multipronged attack everything is lip service.

Healthcare is a whole other issue and one we take personal. I love all of the socialism talk on the right when a public option or Medicare for all is mentioned. You would think if that were to occur we are just a few steps away from complete government take over. Yet these same people all have no problem taking their Medicare at age 65. Don't you just love a closet Socialist LOL

Finally there is a reason half of the country pay little or no federal income tax. 60% of American families make $50,000 or less a year. After payroll taxes, health insurance (if they can afford it), housing, transportation, ultilities, food, clothing, etc. How much do you think a family of four has left? Thse people (working mind you and not on welfare) barely make it, let alone worry about their childs education or retirement.

Both sides are right and both sides are wrong. Until we compromise more of the same.
 
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