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@AverageJoe1 saidDoes a capital gains or corporation tax cut go to the plumber who didn't go to college? In 99% of cases no, but right wingers don't complain when they are put in place, do they?
I have often corrected, as you have , that it does not pay off, but rather reduces debt to a certain formulated degree. It may apply $20k to an existing larger debt. We all know that.
So,now explain to sue that it is just like a tax cut. And for whom?, Is it tax cut for the plumber who did not go to college as he sees his taxes go to the debt of his neighbor's daughter?
Throw in the towel. Marauder.
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@AverageJoe1 saidHere's a simple example:
I have often corrected, as you have , that it does not pay off, but rather reduces debt to a certain formulated degree. It may apply $20k to an existing larger debt. We all know that.
So,now explain to sue that it is just like a tax cut. And for whom?, Is it tax cut for the plumber who did not go to college as he sees his taxes go to the debt of his neighbor's daughter?
Throw in the towel. Marauder.
Guy A is making $50,000 a year and is paying 10% or $5,000 in federal taxes per year. So the government is anticipating revenues of $50,000 from him over the next ten years.
Instead, Congress enacts a tax cut reducing his yearly tax bill to $4,000. Now the government has its anticipated revenue reduced by $10,000 over that 10 years.
Guy B is making $50,000 a year and paying $5,000 a year to the Federal government in student loan payments. So the government is anticipating $50,000 in revenue from those payments over 10 years.
Instead, his payment is reduced by partial student loan foregiveness to $4,000 a year. Now the government has its anticipated revenue reduced by $10,000 over 10 years.
See now? That's keeping it simple for ya.
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@no1marauder said😂 idiot…there is no such thing as free money
Here's a simple example:
Guy A is making $50,000 a year and is paying 10% or $5,000 in federal taxes per year. So the government is anticipating revenues of $50,000 from him over the next ten years.
Instead, Congress enacts a tax cut reducing his yearly tax bill to $4,000. Now the government has its anticipated revenue reduced by $10,000 over that 10 years.
Guy B ...[text shortened]... s anticipated revenue reduced by $10,000 over 10 years.
See now? That's keeping it simple for ya.
what has happened is one group of people had their bill added to ALL tax payers. YOU, yes YOU are expected to pay for something you never received.
damn what some idiots, no wonder you cant figure out whether you are a man or woman…it’s a mental illness
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@Mott-The-Hoople saidApparently the example isn't simple enough for you to understand.
😂 idiot…there is no such thing as free money
what has happened is one group of people had their bill added to ALL tax payers. YOU, yes YOU are expected to pay for something you never received.
damn what some idiots, no wonder you cant figure out whether you are a man or woman…it’s a mental illness
A foregiveness of debt owed to the government has the same effect as a tax cut.
Got it now?
@no1marauder saidtax cuts affect EVERYONE dumbass.. not just one voter base
Apparently the example isn't simple enough for you to understand.
A foregiveness of debt owed to the government has the same effect as a tax cut.
Got it now?
@Mott-The-Hoople saidIt depends on the tax cut. A cut in capital gains or corporate taxes or inheritance taxes or many others only directly affects a certain part of the "voter base".
tax cuts affect EVERYONE dumbass.. not just one voter base
@no1marauder saidMott's entire thesis about buying voters is so dumb.
It depends on the tax cut. A cut in capital gains or corporate taxes or inheritance taxes or many others only directly affects a certain part of the "voter base".
Tax cuts for wealthy directly affects DONORS to political campaigns.
Tax cuts for student loan debt does not. That demographic does not donate to campaigns.
If Biden were using federal dollars to buy potential donors and voters, he would be doing what Republicans do. Cut corporate taxes and taxes for the wealthy, and send out checks with Trump's name on it to every single American in the country.
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@no1marauder saidGot what? You explain nothing. Go back to point A. What is the 'nature' , if you will, of the money, the dollars, the $600B, and the word 'cost' which has found its way into the tuition discussions?? Remember you are talking to Sue and Sonhouse, and people like McHill, and you need to keep your pied-piper regalia intact.
Apparently the example isn't simple enough for you to understand.
A foregiveness of debt owed to the government has the same effect as a tax cut.
Got it now?
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@no1marauder saidTo Sue, et al. He leaves out that the government has a budget. It says that they must raise $1T a year. (anticipated revenue)
Here's a simple example:
Guy A is making $50,000 a year and is paying 10% or $5,000 in federal taxes per year. So the government is anticipating revenues of $50,000 from him over the next ten years.
Instead, Congress enacts a tax cut reducing his yearly tax bill to $4,000. Now the government has its anticipated revenue reduced by $10,000 over that 10 years.
Guy B ...[text shortened]... s anticipated revenue reduced by $10,000 over 10 years.
See now? That's keeping it simple for ya.
In this scenario, the law is changed where the govt will get $1000 (per person) less each year to fund that budget.
So, one day they are anticipating $1T, and the next day it is changed to where they will receive $1000 less than anticipated. This leaves Biden's money managers short on money, they are scratching their heads. They will no longer 'anticipate' the money that they were going to use to buy the illegal aliens motor scooters.
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@AverageJoe1 saidActually Biden's "money managers" have already came up with plans that more than make up for the paltry 1% or so of revenue foregone by forgiving some student loan debt. They do so by reversing the decades long trends of having the wealthy and corporations pay less. https://www.reuters.com/world/us/biden-budget-plan-would-raise-us-taxes-by-4951-trillion-over-decade-treasury-2024-03-11/
To Sue, et al. He leaves out that the government has a budget. It says that they must raise $1T a year. (anticipated revenue)
In this scenario, the law is changed where the govt will get $1000 (per person) less each year to fund that budget.
So, one day they are anticipating $1T, and the next day it is changed to where they will receive $1000 less than anticipated. ...[text shortened]... longer 'anticipate' the money that they were going to use to buy the illegal aliens motor scooters.
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@no1marauder saidNo, that is not the answer to the money lost when we let the loser college graduates off the hook. Why don't you do a thread on the point you raise about Biden's managers.... it has ABSOLUTLEY NOTHING to do with the tuition discussions on this Forum. Jesus, you truly can never see an issue.
Actually Biden's "money managers" have already came up with plans that more than make up for the paltry 1% or so of revenue foregone by forgiving some student loan debt. They do so by reversing the decades long trends of having the wealthy and corporations pay less. https://www.reuters.com/world/us/biden-budget-plan-would-raise-us-taxes-by-4951-trillion-over-decade-treasury-2024-03-11/
As an aside, Biden's principal WH economic advisor told an interviewer last month that if the Govt is short of money that they can just print more. I swear. I swear on my granny
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I cant believe you are saying this, Marauder....talk abut grabbing at straws. So if my firm has decided to not require some client to pay back some money that we loaned him, we would just recoup it by finding some money that may be generated by some business matter in another department of the firm?
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@no1marauder saidCommunist. Begin by punishing the successful.
Actually Biden's "money managers" have already came up with plans that more than make up for the paltry 1% or so of revenue foregone by forgiving some student loan debt. They do so by reversing the decades long trends of having the wealthy and corporations pay less. https://www.reuters.com/world/us/biden-budget-plan-would-raise-us-taxes-by-4951-trillion-over-decade-treasury-2024-03-11/
@AverageJoe1 saidYou've never actually worked in any kind of business except maybe as a janitor or flipping burgers have you?
I cant believe you are saying this, Marauder....talk abut grabbing at straws. So if my firm has decided to not require some client to pay back some money that we loaned him, we would just recoup it by finding some money that may be generated by some business matter in another department of the firm?
Yes, a way to "recoup" loan foregiveness is to get more revenue. Just like you would need to do if you cut revenue by other means like the government does when it enacts a tax cut.
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@no1marauder saidSo, applying what you say here to the tuition thingy, I think you are acknowledging a need to recoup loan revenue. You mean then, to recoup what WOULD have been paid back by the borrower/student.
You've never actually worked in any kind of business except maybe as a janitor or flipping burgers have you?
Yes, a way to "recoup" loan foregiveness is to get more revenue. Just like you would need to do if you cut revenue by other means like the government does when it enacts a tax cut.
So, no money is coming from the students....but money (from govt) is in fact being used to pay that which the students do not pay. Am I right so far?
Your solution is to 'get more revenue'. Thus, you are getting more revenue for one purpose......to replace the govt money that went to pay the tuitions.
Marauder, you have now confirmed that money is paid by the govt, cash money, to the holders of the loans.
I have asked you to confirm that for about 6 months, what was the purpose of all of your word games from the ever-lovin' high horse?
I know....you are a contrarian, that is all you know.