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Can we just once have something that doesn’t secretly fuck us?

You new here?

No. But I don’t know how much more my unlubed butthole can take.

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Amd if that's the case where you live vote accordingly.

By the time forgiveness comes a different state legislature and governor could eliminate that problem.

The IRS says you will take it all and like it

Are they going to provide diapers for my loose stool?

Is that if you get the $20,000?

Don't let the tail wag the dog.

Sure, but the cost of the diapers is going to be taxed to you as income

Definitely. Ain't giving no handouts here.

I wouldn’t be too worried about the taxes tbh, more than likely they’ll find a way to weasel out of actually forgiving anything.

Either way state mileage may vary. It would be as a state income tax based on what that person is saying. That means in Mass it would be taxed at 5%.

Having $10,000 of debt (that you agreed to payback) be forgiven and having to pay tax, is being fucked? How fucking entitled can a person be?

Very.

Are people able to start applying yet or still waiting on Joe to fill in his word?

Applications are open, yes

Promise made, promise kept. This is only the beginning

Remember to vote Democrat next week as a thank you to Daddy Biden.

Waiting on the 2k checks as promised

You got one already. Or should have, at least.

Hope the wife’s gets approved. I believe hers was close to the cap. The school lost accreditation but stayed open for a while, but teachers started leaving, and without accreditation, a degree is only a piece of paper really. She dropped out around the same time the school closed

Literally thankful for once that my state doesn’t have state tax!

Scary you have student loans and can't figure it out lol.

Cry me a river haha. I'm the sucker who paid my loans off... and now I'm paying yours off!

Pay the loans off as you agreed and you don't have to worry about being taxed for the credit

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You are a fragile, fragile man

I won’t get taxed I’m not in those states. And also they were predatory loans most of which were probably signed under duress or falsehoods so just like any other contract they should be null and void.

Who said I had student loans?

Even if you don't, I was joking that you should be smart enough to know. It was a joke. If you walk way with 9500 after tax do you think you got 10k or 20k initially? And yes it depends on a few variables but it should be clear.

Huh, I just made payments. Be careful when taking loans! I think they should require a short class when taking a loan that explains it, even just an hour or two as some college kids have no clue.. shit half adults dont.

I've heard this a lot, but I don't understand how it's the case.

And that’s the largest part of the problem. People don’t know. And once you turned 18 you can sign anything and it is binding most of the time.

And my comment was an exaggeration on the over taxed middle and lower class population of the US.

I'm a tax payer. The loans just don't disappear.

Haha. Yep, now us tax payers get to pay the loans off.

If they would just tax the rich this wouldn’t be a problem.

That's a slippery slope but I agree to an extent. We shouldn't need to tax the rich differently, if we had a system that was somehow balanced.. There is no easy solution to all the issues in our economy, especially we can all agree on! I paid my loans, got a good job, get paid well and have more than most so I try not to complain.

Discharging debt means the debt no longer exists, like, specifically. So I'm not understanding how you're paying a loan that no longer exists. And not a single person making the same claim as you has any explanation for the claim, I'm hoping you do

How about a bank loans you 100k of their money, therefor the money went from bank to your school. Govt now says your loan is discharged, meaning you don't have to pay it back. Now school has money, bank doesn't get repaid. Does that make sense?

So the fact that people have already paid back (in some cases) 2 or 3 times the total value of the loan, and still owe means the bank didn't get their money back?

Well they didn't get it fully repaid. See banks/everyone wants to make money. If I loan you 100 bucks and we agree you'll pay me back 110 over 5 years but you stop after paying me 102 then I'm out 8 bucks. That is a cost to me and I've lost money because I could have loaned that money to someone else. I get loan rates may be high and unreasonable sometimes but I'm simply showing how a loan works. Now the banks aren't getting their money, like housing crash and lots of banks fail or govt prints money and pays them back, leading to inflation. School loan probably won't close any lenders but eventually that money comes out of somebody's pocket.

But it's not the bank, right? It's the government with tax money. That's why you're saying your paying off those loans. But if all that is being written off is the excess interest, as most folks have already paid back more than the value of the loan, there is nothing else the government would have that other people need to "pay back" in someone else's place.

Trust me, if a 10k or 20k value is being discharged that's not imaginary money, it was owed to someone. The loan repayment amount, even whats above whats being borrowed, was the agreed repayment. Let me show you, venmo me 100 bucks, I promise to pay you back 200 over the next 15yrs.

Okay, so you don't have any reasoning to back up your "I'm paying off their loans" beyond talking points and "trust me". Thank you anyways, and no hate, I was just hoping someone could actually explain it. It's okay if they can't (as we very obviously disagree on the idea of lessening economic hardships when it comes to people and not corporations).

Sorry, I don't know how to mark this as "I'm not being sarcastic and I really do politely mean we'll just have to agree to disagree". I do thank you for your responses

I hear you. We all pay man. A company didn't get paid, govt will reimburse and we all, most, pay taxes. Our national debt will go up.. Nothing is free in life lol. And lots of people make payments and doing fine that get the discharge. Google who pays for student loan forgiveness. I had almost 6 figures of student debt, got a good job, read the fine print and paid it off. Now govt is essentially handing out 10 20k.. I want my free money!