Advertisement - Members don't see this ad
Just pointing out hypocrites!
Stop paying your student loans!
Started by BMBiology
Just pointing out hypocrites!
41*
I don't think I follow the logic:
An individual found a way to break the bonds of student debt for their child. If they pay for an exchange of obtaining a specific degree, that's on them and rightfully so. If I worked hard and sacrificed for an exchange to being debt free, why should I agree that everyone else simply gets debt forgiven (even for useless degrees) when I planned accordingly? Who is to blame? You signed the dotted line to pay it all back, its as simple as that. You knew the tuition cost but did it anyway. That's on you.
If you decide to pay the minimal and stretch it out over your lifetime and invest or do other things with your time, I have no problem with that so long as your doing your part and decide to stay in debt all the way to your deathbed. I don't believe however an individual is justified to wait for a "20-year" or "immediate" forgiveness plan that wasn't part of the contract when they signed the loans.
Advertisement - Members don't see this ad
Livingmybestlife is a victim even though he was a mature and college educated adult when he decided to go into pharmacy. This is the problem when you lower admission standards. You get subpar students who think society is responsible for every mistake they make.
ICR has had 25 year forgiveness since its inception in 1994.
Original IBR has had 25 year forgiveness since its inception in 2009.
The subsequent programs birthed in 2012 and beyond have had better terms and were open to those who were on the previous (less generous) programs.
So pretty much everyone who took out a student loan in 1994+ has had this baked into their original contract.
The logical end to this march is “immediate forgiveness” wherein a sizable population who finished under a less generous program will protest. The same things could happen now...a borrower in 2005 who completes 7yrs at 20% ICR program would be miffed about PAYE (2012) and its 10%/20yr forgiveness.
At some point, you just have to acknowledge that, for one slice of the financial lives of those born after 1980 or so...they might actually get a break. Call it even for when social security is drained and taxes rise to make up for all the tax breaks currently in effect. :
:(I wanted to sound cool and use “ok, boomer” in there somewhere but, alas, couldn’t make it fit).
Sent from my iPhone using SDN
ICR has had 25 year forgiveness since its inception in 1994.
Original IBR has had 25 year forgiveness since its inception in 2009.
The subsequent programs birthed in 2012 and beyond have had better terms and were open to those who were on the previous (less generous) programs.
So pretty much everyone who took out a student loan in 1994+ has had this baked into their original contract.
The logical end to this march is “immediate forgiveness” wherein a sizable population who finished under a less generous program will protest. The same things could happen now...a borrower in 2005 who completes 7yrs at 20% ICR program would be miffed about PAYE (2012) and its 10%/20yr forgiveness.
At some point, you just have to acknowledge that, for one slice of the financial lives of those born after 1980 or so...they might actually get a break. Call it even for when social security is drained and taxes rise to make up for all the tax breaks currently in effect. :
(I wanted to sound cool and use “ok, boomer” in there somewhere but, alas, couldn’t make it fit).
Sent from my iPhone using SDN
Tell that to the guy who served and put his life on the line so he could get the GI bill.
Income based repayment has become more and more generous so yes, they are already receiving a break. But to expect to pay nothing? That doesn’t fly.
What about the guy who served and put his life on the line before the GI bill?
What about all the people who lived and died before social security?
etc etc. At some point you have to decide that the next generation is going to get a break you didn’t. Is that really such a bad thing?
Do I wish I could have had my loans forgiven? Sure, of course. Am I going to be bitter at people who do? Not at all, good for them.
I do hope loan forgiveness comes with comprehensive tuition reform since without it forgiveness is pointless.
You don’t change rules in the middle of the game. It is that simple.
Debt doesn’t just go away. It gets pass on in a form of a tax. Bernie wants to tax financial transactions. Guess what? Those with a 401 k will be paying for it.
The majority of the outstanding debt is from a household with a graduate degree. These are the most educated, well off people in our society. They certainly can pay off their debt. So, why should high school graduates (70% of our society) have to pay more taxes so we can forgive their debt? That doesn’t make sense.
And how is paying off their debt going to stop colleges from increasing tuition? If anything, it would provide them with more incentive to keep on raising tuition. Students are not going to care because the government would forgive it anyways.
The GI Bill did exactly that. As did Social Security.
The end of your post just agreed with mine. Maybe you didn’t see the part where I said “comprehensive reform”.
You are retroactively forgiving loans. Why doesn’t the government also retroactively repay me?
Vote Andrew Yang. $1000 a month makes way more sense.
Anything can and will happen to a program that no longer guarantees debt forgiveness after a decade to a quarter of a century. Hence, pay what you sign and not "maybe pay some now" while crossing my fingers for something to work... Just work.
This being said, if I had to pick between two poisons concerning our current programs vs immediate forgiveness of debt, I say put cinammon flavor in the program cup and watch me chug
Yeah...it’s called Social Security, Medicare, and the Senior Citizen Menu at Denny’s.
Sent from my iPhone using SDN
Happens all the time. Hey, remember when we could deduct all of our state and local taxes?
Pretty much. But the name of the game is to get as much from the gov’t and pay as little in taxes as possible.
Also true. But again, I don’t care...I’m gonna vote for an uncapped SALT deduction even though I bought my house a while ago and it’s not an incentive anymore so much as it is a reward for doing something I’m already doing.
Agreed. That’s another thread for another day.
Sent from my iPhone using SDN
Advertisement - Members don't see this ad
People complaining about loan forgiveness are all like “Well I got gonorrhea, so instead of paying for free condoms, I’m gonna make sure you all get syphillis! Huh-HA!! Got you now, you liberal snowflakes!”
Sent from my iPhone using SDN
Im ok with specific programs if they show some level of reformity.
For example, PSLF requires 10 years of working for a 501c3 company in exchange of covering all federal loans with no tax bomb: Im ok with this.
GI Bill: Minimal 3 years of service in exchange for covering tuition cost and housing. Im ok with this.
IHS services: 2 years of work in exchange for a specified amount of debt being covered (more the longer you work the job). Im ok with this
Specific job criteria that will cover the majority (if not all) of the debt in exchange for working in a less-than-desirable location giving professional output to a needed population. Im ok with this.
Im not ok with an individual sitting on their thumbs expecting something for nothing.
That is a bad analogy.
Free condoms = good for society
How is taxing a high school graduate to pay for student loans of a 6 figure earning professional with a graduate degree good for society?
Why help rich people at the expense of poor people? It is not like most doctors, dentists, pharmacists can’t pay off their student loans. I had a boat load of loans and paid them off in a few years. You don’t need to help people like me!
college degree doesn't always = rich life. I have friends that make $50k at the most with college degrees
That is why there is income based repayment. It doesn’t make sense to forgive loans to people who are making a damn good living off their degree.
You just described virtually every other tax break that exists. We tax the high school grad to pay for SALT deductions, we tax the poor guy making $30k/yr so I can write off my $3k in capital loss against my capital gains, everyone else has to pay more because of my new 20% pass through deduction. In California, everyone pays more in property tax because an LLC holding the property rights under prop 13 retains that rate even if the business changes.
That mythical high school grad helped give me back $4k on my solar system add-on this year that I was going to buy anyway.
I’m not saying it’s right, but I’m saying student loan forgiveness is effectively the same as you describe. In fact, don’t even call it forgiveness...just pretend it’s an uncapped $1:$1 tax credit on principal/interest paid in a given year.
Sent from my iPhone using SDN
I’m personally against blanket student loan forgiveness, but I’m a realist in that if it’s becoming a macroeconomic problem, it’s going to eventually affect my net worth, which is a real problem for me.
I need people throwing money around buying crap so my retirement account goes up, I need people to overbid on my house when I eventually retire to some far off place.
Condoms serve as a barrier to syphillis.
As with student loans, we need to set up more barriers to obtaining them instead of throwing more of it at students and expecting responsible savers to pay it back.
How do you compare 401 k to unlimited student loan forgiveness? 401 k is open to everyone. The fact that the government encourages its citizens to save for retirement by providing limited tax deduction is a good thing as it benefits society as a whole. Yeah people who make more would benefit more from the tax deduction but these same people also pay more taxes. In addition, you can’t compare a measly tax deduction to $250,000 in student loan forgiveness.
sorry i know you guys don't want to hear this but trump is gonna take it again in 2020. this is MAGA country kids, trump 2020 LET'S GO
No wonder you have trouble hanging onto a job. Keep watching Netflix at that cannabis job you have.
SALT used to cost the government about $1T over a 10 year budgetary period.
Long term capital gains preferred rates costs $1.34T over that same period.
Aggregate federal student loan balances are $1.4T as of December 2019.
So yeah, they’re easily comparable.
Sent from my iPhone using SDN
Therefore, we should make the wealth gap even bigger by retroactively forgiving $1.4T in debt to physicians, dentists and pharmacists?
LivingMyBestLife
Report Trolling Immediately Please
I'm not supporting any politics of either side. I'm not saying the man's argument was not right or bad. I'm just talking from a pragmatic perspective dealing with money. If he is complaining about the money being spent he clearly could not afford it. If the money didn't matter that much to him he wouldn't care if others had their debt erased. Your logic is solid though. I don't vote and I don't engage in politics.
today was so relaxing and chill. god i love my job. i really need to kiss the floor every time i come in. where else can you have hours of downtime to do whatever? it's nuts
Advertisement - Members don't see this ad
Like every other tax break that exists, yeah. Smaller borrowers will get relief and the richer will reap a bigger benefit.
Technically Elizabeth Warren’s plan is more progressive in that there’s an income cap and limit...but good luck with her, I ain’t voting for that, lol.
Sent from my iPhone using SDN
All of this income based repayment and forgiveness talk is causing new graduates to not be aggressive with their student loans. It is going to be much harder for them to pay off their loans as time goes by and they are going to be saddled with this debt for the next 25 years.
Yea dude - my student loans are a breeze. A few hundred a month for the next 20 years and boom I’m good. Tax bomb shmax bomb....
Just in case...don’t put money in your 401 k. When the tax bomb hit you, the IRS can take your 401 k even your social security check.
The government is corrupt. They own the land and tax us hard. Force us to go to expensive colleges. We are in huge debt and become slaves so the president can go golfing all day.
My solution. Stop paying taxes, stop paying student loans and just become a bum. You call live by your own rules and that is all that I want. I now live in the sewers and my nickname is Turtle.
My solution. Stop paying taxes, stop paying student loans and just become a bum. You call live by your own rules and that is all that I want. I now live in the sewers and my nickname is Turtle.
Oh ok thanks.
Lol don’t take tax avoidance advice from BMB, hahah.
Put money in 401k...when tax bomb hits, go into a payment plan.
Buys you time...drain the account (20% will be withheld), then flee the country and stop making payments.
Or better yet open a bunch of credit cards, pay the IRS, and default on the CC.
Private creditors cannot seize/levy 401k, but the IRS can.
Done and done.
Sent from my iPhone using SDN
Yea I got a plan - I just like to play along with BMs shame tactics.
Flee to some third world country? Why wait? Why not do it now?
Credit card fraud? CC companies are smarter than you. They didn’t make billions by being stupid.
I think it is ridiculous that some people are willing to work for 30 years while paying social security and medicare tax and then give all that up so they can flee to a third world country. The numbers don’t make sense.
Let’s be frank here. Most of you don’t have a plan. Your plan is to put your head in the sand and hope everything is going to be alright.
Let’s be frank here. Most of you don’t have a plan. Your plan is to put your head in the sand and hope everything is going to be alright.
They’re still constrained by federal laws.
If someone’s planning to dump and run out of the country, there’s not much they can do about it. Sue, get default judgement, and then collect? Collect what?
Sent from my iPhone using SDN
You can still collect social security overseas, that’s why you flip the creditor chasing you from the IRS to a private creditor, if that’s so your choosing.
You don’t even have to flee, just make yourself judgement proof. Move to FL, establish homestead, put money in unreachable accounts, and go tan your pasty ass under the Florida sun.
I’d never move to Florida, though, but that’s just me.
Sent from my iPhone using SDN
No way you can plan something like this 20 years in advance....it is just fun to talk about.
Remember that guy who said he would declare insolvency so the IRS can’t go after him? He quickly dropped that plan when he learned the IRS can go after his 401 k.
Haha, that’s why I keep replying to this thread. It’s like talking about flying cars and stuff. We should just start a new thread “how to evade taxes in 20yrs”
Sent from my iPhone using SDN
Advertisement - Members don't see this ad
Why would the board be soliciting donations for such a program? Aren't pharmacists highly (snickers) compensated (laughing gets louder) professionals? (now in spasms of laughter on the floor)
Last edited:
This can’t be real?
I don't recall that being on the last renewal form (yes this board STILL doing license renewals by snail mail) but here is the description:
I mean I actually work in a medically underserved area (we get more scripts from Americorps volunteers than Tricare or FEP) but I haven't seen a dime of that.
I mean I actually work in a medically underserved area (we get more scripts from Americorps volunteers than Tricare or FEP) but I haven't seen a dime of that.
I think I’m more annoyed that I pay $12 for that stupid CURES thing I never use
Sent from my iPhone using SDN
Sent from my iPhone using SDN
