View Poll Results: Are Republicans against helping the middle class?

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  • Yes

    28 33.73%
  • No

    51 61.45%
  • Maybe

    3 3.61%
  • Don't know

    1 1.20%
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Thread: Are Republicans against helping the middle class?

  1. #171
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    Re: Are Republicans against helping the middle class?

    Quote Originally Posted by Ironfist View Post
    If the government needs revenue, it should not be getting it from people trying to pay off student debt. The proceeds from borrowers payments should go to repay the loans only and not fund the government.
    You do realize that people in their thirties and even forties are still paying off their student loans, right?

  2. #172
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    Re: Are Republicans against helping the middle class?

    Quote Originally Posted by gdgyva View Post
    Well...that depends

    Who owns the loan?

    If the government actually held the paper, then it is an entry on the federal budget

    If the government is just the guarantor, then the BANKS who actually own the paper, need to be made whole

    the program that is being touted will have a cost associated with it....making those institutions whole

    in the OP, the cost will be paid by rich people using the Buffett rule

    now....does that answer your question?
    No, it does not. First of all, the government is actually making the loans now. Next of all the banks have already been made whole by the government taking away their bogus MBS and the associated. There is no need to charge borrowers such high interest rates.

  3. #173
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    Re: Are Republicans against helping the middle class?

    Quote Originally Posted by Henrin View Post
    You do realize that people in their thirties and even forties are still paying off their student loans, right?
    So? They should be able to refinance student debt.

  4. #174
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    Re: Are Republicans against helping the middle class?

    Quote Originally Posted by Ironfist View Post
    If the government needs revenue, it should not be getting it from people trying to pay off student debt. The proceeds from borrowers payments should go to repay the loans only and not fund the government.
    Well you'll have to take that up with the U.S. Congress as they are the ones who set the rules, who allowed the interest rates to double in 2013, and who failed to fix that in 2014. I don't really have any problem with the government being in the student loan business as that is one government program that does actually pay for itself. But I tend to agree with you that it should ONLY pay for itself with maybe just a little bit left over to cover an unusually large number of defaults. And in my libertarian soul the government should be in that business only if the banks don't want it.
    "I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it." --Benjamin Franklin 1776

  5. #175
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    Re: Are Republicans against helping the middle class?

    Quote Originally Posted by AlbqOwl View Post
    Well you'll have to take that up with the U.S. Congress as they are the ones who set the rules, who allowed the interest rates to double in 2013, and who failed to fix that in 2014. I don't really have any problem with the government being in the student loan business as that is one government program that does actually pay for itself. But I tend to agree with you that it should ONLY pay for itself with maybe just a little bit left over to cover an unusually large number of defaults. And in my libertarian soul the government should be in that business only if the banks don't want it.
    I pretty much agree with what you have said and that is what this discussion is about. I don't have a problem with the government making the loans, however they should lower the interest rates.

  6. #176
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    Re: Are Republicans against helping the middle class?

    Quote Originally Posted by Ironfist View Post
    If the government needs revenue, it should not be getting it from people trying to pay off student debt. The proceeds from borrowers payments should go to repay the loans only and not fund the government.
    However I did misspeak in my previous post when I said it is the one government program that actually shows a profit. That profit is strictly on paper. And you have to use real accounting to calculate it instead of CBO accounting that can get ridiculously creative.

    There are many who think the early and projected profits from the student loans are not real and there will be a significant long term cost to the U.S. taxpayer. And if that is the real deal, then the higher interest rates are not unreasonable to keep. (See the whole article that I linked.)

    I rather think if the government enforces repayment of student loans though, the risk of some loss is worth it since the expectation is that the loans will be paid. The interest rate should be set just slightly above what it costs the government to borrow that money to make the loans.
    "I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it." --Benjamin Franklin 1776

  7. #177
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    Re: Are Republicans against helping the middle class?

    Quote Originally Posted by Henrin View Post
    You do realize that people in their thirties and even forties are still paying off their student loans, right?
    Yes, those who were paying the loans off just paying the minimum every month on the theory the interest rates were low will pay substantially more than will those who paid off their loans more quickly. Both of my kids had substantial student loans to repay but the degrees they earned with those loans have enabled them to earn substantial salaries and the loans were nothing compared to the earning power those degrees were worth. Those who don't stay in college or who don't educate themselves in marketable fields probably don't fare as well. But we all should plan early on to live with the consequences of the choices we make.
    "I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it." --Benjamin Franklin 1776

  8. #178
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    Re: Are Republicans against helping the middle class?

    Quote Originally Posted by Dovkan View Post
    I actually agree on this point, but it's the education system as a whole that needs to be reworked, drilling information into children so they can fill in bubbles to determine how much funding a school gets is preposterous.
    The school lunch program is another federal boondoggle.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country spoke, and The Donald is now POTUS.

  9. #179
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    Re: Are Republicans against helping the middle class?

    Quote Originally Posted by Ironfist View Post
    I pretty much agree with what you have said and that is what this discussion is about. I don't have a problem with the government making the loans, however they should lower the interest rates.
    They should lower the interest rates unless the interest rates are necessary to cover the cost of the program to the taxpayer. Or they should disband the program and let the private sector do it.
    "I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it." --Benjamin Franklin 1776

  10. #180
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    Re: Are Republicans against helping the middle class?

    Quote Originally Posted by Henrin View Post
    Do you guys ever ponder why everything the government touches gets more expensive?
    Do you ponder why Republicans shoot down everything that would actually help the middle class?

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