'Biden's Education Department just wiped out $1.74 billion of student debt for 22,000 borrowers...'

[CmdrKing]

This is why I have a trade job. 20 month school which has a $50k price tag, they find you a job and then you go from there. Bonus points if you are ex military.

And we are very understaffed. Not many think about my trade too. Aircraft Mechanic. Not heavily unionized either. Has the benefit of me working on any aircraft on my spare time as a side job too.

Maybe there should be a bit of a push for trade jobs to be put side by side with the college degree.

I have seen the horro stories of people paying off their 107k student debt after ten years and have 109k left over. Or worse.

It seems like they have tried to do that over the years but either the scholarship programs aren’t robust enough or there’s a disconnect happening somewhere.

I wonder if it’s not something to do with trades being local? For example, of the people who would be willing to do the work don’t tend to already live where the work needs to be done, so they aren’t aware of the programs or don’t want to uproot themselves to do it.

[CharlesPhipps]

"What have the Romans done for us lately?"

[Fuzzy Necromancer]

Abusing statutory authority to transfer the debt of people with relatively high paying, secure jobs to the general taxpayer. Yeah, great job.

Taxes don't fund federal spending. Read some Modern Monetary Theory.

That is more like Modern Magical Thinking.

However, if taxes do not fund federal spending then the federal tax code should be eliminated, as that is the only just argument to have federal taxes.

There are plenty of good reasons to have federal taxes. To incentivize or disincentivize certain practices is one. To keep a check on inflation is another.

If we want to pretend taxes fund federal spending, however, then can I ask what dog you have in the fight and exactly how you think it will materially affect you?

[Fuzzy Necromancer]

"What have the Romans done for us lately?"

Please provide context and relevance for this remark.

[McAvoy]

This is why I have a trade job. 20 month school which has a $50k price tag, they find you a job and then you go from there. Bonus points if you are ex military.

And we are very understaffed. Not many think about my trade too. Aircraft Mechanic. Not heavily unionized either. Has the benefit of me working on any aircraft on my spare time as a side job too.

Maybe there should be a bit of a push for trade jobs to be put side by side with the college degree.

I have seen the horro stories of people paying off their 107k student debt after ten years and have 109k left over. Or worse.

It seems like they have tried to do that over the years but either the scholarship programs aren’t robust enough or there’s a disconnect happening somewhere.

I wonder if it’s not something to do with trades being local? For example, of the people who would be willing to do the work don’t tend to already live where the work needs to be done, so they aren’t aware of the programs or don’t want to uproot themselves to do it.

Well I can speak about the A&P. That is the license for aircraft mechanics. FAA controlled. Not many schools out there, usually they are near or on major airports. For example where I live, there are two schools about an hour drive. One in Northeast Philly airport and the other in Teterboro near the Giants stadium.

That is in the area where I live where there has a lot of airports.

Usually for the most part, ex military knows about the program since they are told about it many times before they get out. Civilians? Usually it's their second or third career choice.

The way the schools work, it's a 20 month school. $50k. You pay the bare minimum of $50 per month if you want. Six months after you graduate and have your license then they start collecting that debt. Also the school will find you a job. Starting off pay as a brand new rookie varies between $24-$28. I know one guy in Philadelphia working for Fed Ex makes $92 an hour.

Yeah it's just not getting the information out there.

[CharlesPhipps]

"What have the Romans done for us lately?"

Please provide context and relevance for this remark.

Even when Biden removes debt, you know people are going to whine about it.

[TGLS]

Abusing statutory authority to transfer the debt of people with relatively high paying, secure jobs to the general taxpayer. Yeah, great job.

Taxes don't fund federal spending. Read some Modern Monetary Theory.

That is more like Modern Magical Thinking.

However, if taxes do not fund federal spending then the federal tax code should be eliminated, as that is the only just argument to have federal taxes.

Modern Monetary Theory is based on Chartalism. Under Chartalism, taxes exist to create demand for money and spending creates supply of money. If this seems ridiculous, imagine a post-apocalyptic world where a gang demands everyone pay them a hundred dollars in monopoly money or they'll be killed. With the utility of monopoly money well defined by a tax, then said gang could trade monopoly money for whatever fits their wants/needs, whatever those may be.

[clearspira]

"What have the Romans done for us lately?"

Please provide context and relevance for this remark.

Even when Biden removes debt, you know people are going to whine about it.

1) If Trump had done the same thing you would have found the same amount of people moaning.
2) People are understandably interested in where that debt is going. Its not ''being removed''.

[CharlesPhipps]

1) If Trump had done the same thing you would have found the same amount of people moaning.
2) People are understandably interested in where that debt is going. Its not ''being removed''.

1. Not everything is a fucking sports team and sometimes I'm pissed at people treating it like it is. If Trump had removed all student debt I'd be like, "A stopped clock.."

2. Student debt to the government is the worst fucking thing. Because the government is milking its own citizens and discouraging the financial advantages of an educated populace when the whole point of government financing of education is to subsidize it.

Besides, with a educated but debt ridden class, you don't lose anything by removing that debt. Its like free social programs to the public.

[BridgeConsoleMasher]

Abusing statutory authority to transfer the debt of people with relatively high paying, secure jobs to the general taxpayer. Yeah, great job.

Taxes don't fund federal spending. Read some Modern Monetary Theory.

That is more like Modern Magical Thinking.

However, if taxes do not fund federal spending then the federal tax code should be eliminated, as that is the only just argument to have federal taxes.

Modern Monetary Theory is based on Chartalism. Under Chartalism, taxes exist to create demand for money and spending creates supply of money. If this seems ridiculous, imagine a post-apocalyptic world where a gang demands everyone pay them a hundred dollars in monopoly money or they'll be killed. With the utility of monopoly money well defined by a tax, then said gang could trade monopoly money for whatever fits their wants/needs, whatever those may be.

That theory framework is based on gold back economies. The government guaranteed gold conversion, and that was the biggest imperative for cash. It's true that the only explicit necessity for cash was to pay taxes with it, but gold's value as an international commodity traded by states guaranteed that any note tied to gold is just as lucrative as gold itself.