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  1. #16
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    Quote Originally Posted by ewing View Post
    Not all student loans are federal student loans. There is a general debt problem in the county and default rates on fed student are high. I think default on fed loans is really high bc rates are low. If American Express is charging you 14, you car loan is 18, and your student loan is 4 who are you going to pay last? People cant afford there debt and the loans are last in line. If you spend all your money before you get to the loan 0 dollars hits the principal regardless of rate

    Btw 16% if the student market in 2019 was private (who's average rate is much higher). I figured it would be higher

    https://studentloanhero.com/student-...bt-statistics/

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    I would think the percentage WOULD be higher because, at least it used to be the case, private loans are easier to get so you'd think more dollars would be private than not. When I had some loans from getting a second degree 10 years ago, my rate was 5.4% on one and 6% on the other.
    gotta love 'referential' treatment

  2. #17
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    We've got people making more on unemployment than they were making working before losing their jobs. At the same time we have jobs going unfilled because of it, further hurting struggling businesses.

    Kill 3 birds with 1 stone- incentivize people to get back to work. Send anyone getting off unemployment a one-time $1500 check. 1) a vacant job gets filled 2) one less person collecting unemployment 3) the check covers any difference between their unemployment check and the check from their new job for at least a couple months....win, win...win.
    gotta love 'referential' treatment

  3. #18
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    May 2010
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    Quote Originally Posted by ciaban2.0 View Post
    The interest rate on loans is already next to nothing, it's around 2%
    This isnít remotely true for millions of borrowers in this country. Many many people have over 4% and it gets above 6% for some as well.


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  4. #19
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    May 2010
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    Quote Originally Posted by SiteWolf View Post
    We've got people making more on unemployment than they were making working before losing their jobs. At the same time we have jobs going unfilled because of it, further hurting struggling businesses.

    Kill 3 birds with 1 stone- incentivize people to get back to work. Send anyone getting off unemployment a one-time $1500 check. 1) a vacant job gets filled 2) one less person collecting unemployment 3) the check covers any difference between their unemployment check and the check from their new job for at least a couple months....win, win...win.
    Not a bad plan, I think the issue with unemployment is moreso how horrible the jobs are in this country. If they paid a decent wage it wouldnít be a problem people get 6-700 per week to survive while unemployed.


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  5. #20
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    parts unknown
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    American Rescue Act spending

    Quote Originally Posted by SiteWolf View Post
    I would think the percentage WOULD be higher because, at least it used to be the case, private loans are easier to get so you'd think more dollars would be private than not. When I had some loans from getting a second degree 10 years ago, my rate was 5.4% on one and 6% on the other.
    Federal student loan are guaranteed by the feds (your servicer is often a private bank but the terms are set by the feds). They are much easier to get and interest rates are the same for everyone (right now it is one fixed rate for undergrad and a different rate for grad students) You just apply for financial aid/fill out loan paperwork.

    The interest rate on federal student has changed a lot over the years. Your loans might have been federal student loans

    Private loans are supposed to only be taken if federally back students don't cover the whole bill. They require credit approval so they are harder to get and have less favorable terms


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    Last edited by ewing; 03-26-2021 at 09:47 AM.
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    Quote Originally Posted by Raps08-09 Champ View Post
    My dick is named 'Ewing'.

  6. #21
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    Sep 2009
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    Coventry RI
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    It will probably get thrown into the general fund and wasted just like anything else in the state. Lottery was introduced in the 70s money was supposed to go to school haa probably thrown in the general fund. Started to toll truckers supposed to go to road work haaaa roads still suck *** after all the money they tout that they have received so far. Tax Island is a joke. Might as well light the money on fire

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    One More Time

  7. #22
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    Quote Originally Posted by mngopher35 View Post
    Not a bad plan, I think the issue with unemployment is moreso how horrible the jobs are in this country. If they paid a decent wage it wouldnít be a problem people get 6-700 per week to survive while unemployed.


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    I don't disagree there, but I also don't think during the pandemic is the time to put more pressure on already struggling businesses by forcing them to pay higher wages......a rabbit hole we've already been debating, I realize.

    My thought on these checks would be that it would be retroactive to Jan 1 and go through September when that unemployment boost is set to end.
    gotta love 'referential' treatment

  8. #23
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    May 2010
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    American Rescue Act spending

    Quote Originally Posted by SiteWolf View Post
    I don't disagree there, but I also don't think during the pandemic is the time to put more pressure on already struggling businesses by forcing them to pay higher wages......a rabbit hole we've already been debating, I realize.

    My thought on these checks would be that it would be retroactive to Jan 1 and go through September when that unemployment boost is set to end.
    If you canít give a decent wage it might not be a business worth saving. Ya I think this has been gone through but thatís part of my point we shouldnít expect people to take poor jobs to barely survive in order to save someoneís business.

    The issue isnít the amount of unemployment but the lack of decent paying jobs.


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  9. #24
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    Quote Originally Posted by mngopher35 View Post
    If you canít give a decent wage it might not be a business worth saving. Ya I think this has been gone through but thatís part of my point we shouldnít expect people to take poor jobs to barely survive in order to save someoneís business.

    The issue isnít the amount of unemployment but the lack of decent paying jobs.


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    Well, people also have different views on what 'decent' is with some locked in on 'less than $15 isn't decent' just because that was Biden's goal.

    I balk HEAVILY on the mindset that a business not being able to pay $15/hr isn't worth saving, but every time I say something like that there's always someone here claiming I'm suggesting $7.25 is OK or that big corporations are increasing profits by underpaying people when it's nowhere near that simple.

    Firstly, NObody should put 40 hours a week in on a job and earn at the poverty level. They nor the country benefit from working full time yet still qualifying for federal assistance. But pushing wages up at the bottom also trickles up to other workers, too, compounding the problem.
    gotta love 'referential' treatment

  10. #25
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    May 2007
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    Quote Originally Posted by mngopher35 View Post
    This isnít remotely true for millions of borrowers in this country. Many many people have over 4% and it gets above 6% for some as well.


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    ciabatta making up stats again? Color me shocked.

  11. #26
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    American Rescue Act spending

    Quote Originally Posted by SiteWolf View Post
    Well, people also have different views on what 'decent' is with some locked in on 'less than $15 isn't decent' just because that was Biden's goal.

    I balk HEAVILY on the mindset that a business not being able to pay $15/hr isn't worth saving, but every time I say something like that there's always someone here claiming I'm suggesting $7.25 is OK or that big corporations are increasing profits by underpaying people when it's nowhere near that simple.

    Firstly, NObody should put 40 hours a week in on a job and earn at the poverty level. They nor the country benefit from working full time yet still qualifying for federal assistance. But pushing wages up at the bottom also trickles up to other workers, too, compounding the problem.
    If someone is making 80k to support their family Iím and is laid off they are going to struggle potentially even with far more than that. $15 per hour isnít paying for the mortgage/utilities/health insurance (hopefully can get help if was through work)/food/transportation etc for a family that was working with 2-3 times the budget previously. I think unemployment should be there as a legitimate safety net while people search for a new job.

    If people getting a barely livable wage for a single individual while searching for a job is ďtoo muchĒ in unemployment because then no one wants to work... we have a serious issue with the jobs in this country. Thatís the real issue not the amount of unemployment that for many doesnít come close to their expenses overall but the lack of decent paying jobs available.

    I think in a majority of places in the us 15 is reasonable if not actually low. I would agree though some areas it may be too high but itís better than what we have currently if we wanna get into that discussion.


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    Last edited by mngopher35; 03-26-2021 at 06:19 PM.

  12. #27
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    Sep 2006
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    We should not have to file tax returns, most countries don't. They should send us a report on exactly how much money they have taken from us including all sales taxes, fees, fines, and revenue collected from individuals.

  13. #28
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    Quote Originally Posted by mngopher35 View Post
    If someone is making 80k to support their family Iím and is laid off they are going to struggle potentially even with far more than that. $15 per hour isnít paying for the mortgage/utilities/health insurance (hopefully can get help if was through work)/food/transportation etc for a family that was working with 2-3 times the budget previously. I think unemployment should be there as a legitimate safety net while people search for a new job.

    If people getting a barely livable wage for a single individual while searching for a job is ďtoo muchĒ in unemployment because then no one wants to work... we have a serious issue with the jobs in this country. Thatís the real issue not the amount of unemployment that for many doesnít come close to their expenses overall but the lack of decent paying jobs available.

    I think in a majority of places in the us 15 is reasonable if not actually low. I would agree though some areas it may be too high but itís better than what we have currently if we wanna get into that discussion.


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    There are multiple moving pieces in all this......and another is that more than doubling the minimum wage is a short time span would have dramatic results, and a lot of them would be quite negative.

    I would agree that the minimum wage should be at a level where the majority of full time workers isn't seeking government assistance.....OR, that's basically a form of UBI.
    gotta love 'referential' treatment

  14. #29
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    Quote Originally Posted by SiteWolf View Post
    There are multiple moving pieces in all this......and another is that more than doubling the minimum wage is a short time span would have dramatic results, and a lot of them would be quite negative.

    I would agree that the minimum wage should be at a level where the majority of full time workers isn't seeking government assistance.....OR, that's basically a form of UBI.
    You can also implement policy to help areas that it might cause issues as well. I would argue that the negative affects of leaving it stagnant for years and years are worse with the wealth inequality and number of low paying jobs we have in this country.

    We need to have enough living wage jobs for the population, thatís very important. It isnít about making sure where majority of workers donít need assistance unless you drastically improve our assistance programs, unless you mean the massively large majority. We shouldnít have many people working 40+ hours a week and still struggling to provide/needing said assistance. We have really let things get out of whack over the last 40 years itís time to make legitimate changes to help average Americans.


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  15. #30
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    Quote Originally Posted by SiteWolf View Post
    There are multiple moving pieces in all this......and another is that more than doubling the minimum wage is a short time span would have dramatic results, and a lot of them would be quite negative.

    I would agree that the minimum wage should be at a level where the majority of full time workers isn't seeking government assistance.....OR, that's basically a form of UBI.
    I think a single person working full time for minimum should be able to pay for an apartment shared with one other working person and be able to afford public transportation, food, and basic entertainment on minimum wage.

    That said, that number isn't the same everywhere in the nation.

    Find the cheapest place in the US to live, set the minimum to that amount plus a bit, then adjust for changing COL over time. The federal law should encourage municipalities to set their minimum wages to meet that standard based on the COL in their area.

    Using that metric NYC minimum wage would be, I think $22 per hour.

    I support UBI, and UBI would mean that the minimum wage increase would be less important, though I certainly think it should be tied to COL in some way so we never again go years without it increasing.

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