Economics Thread

[Jaw]

Does nothing to stimulate the economy or achieve the equal outcomes goal. Pleases quite a few upper middle class white families who are predominantly liberal, and reduces the building anger towards the diversity/grievance studies professors who are churning out worthless degrees.

[mqt]

Does nothing to stimulate the economy or achieve the equal outcomes goal. Pleases quite a few upper middle class white families who are predominantly liberal, and reduces the building anger towards the diversity/grievance studies professors who are churning out worthless degrees.

I’m not a proponent of cancelling student debt, but student debt is absolutely not just about the upper middle class.

[sturg33]

College grads make 64% more than high school grads.

So what do the dems wanna do?

Force those poor high school grads to bail out those rich college grads.

[thethe]

College grads make 64% more than high school grads.

So what do the dems wanna do?

Force those poor high school grads to bail out those rich college grads.

It never made any sense.

The real purpose is to further legitimize that higher education is worthwhile for the majority of the population when in reality maybe about 20% at most should attend college.

[mqt]

College grads make 64% more than high school grads.

So what do the dems wanna do?

Force those poor high school grads to bail out those rich college grads.

I’m not sure if you’re aware of this, but many, many college students don’t graduate. This leads to people in your HS graduates statistic being part of the crisis.

[thethe]

Someone should really pay my mortgage. It would stimulate the economy.

[nsacpi]

SOME 45 MILLION individuals in the United States owe $1.6 trillion in debt for college and graduate school tuition. They owe the vast majority of it to the federal government, so the obvious way to ease this burden on them, and a drag on the economy, is government-ordered debt cancellation, perhaps through executive action by President-elect Joe Biden after Jan. 20. Or so many Democrats urge, with Sens. Charles E. Schumer (D-N.Y.) and Elizabeth Warren (D-Mass.) pushing a plan to forgive up to $50,000 per borrower.

We hope Mr. Biden says no — and explains that such wholesale debt relief is actually the antithesis of progressive policy. Most benefits would flow to upper-income households, which, despite the undeniable burden of debt for lower-income families, actually owe a disproportionate share of the total dollars. Sixty-four percent of U.S. adults age 25 and over do not even have a college degree, though that includes some who attended, and paid for, college but did not finish. What’s more, those who finish college are better positioned than others to earn more, so it’s hardly unfair to expect them to draw on this “education premium” to pay their debt.

Sylvain Catherine of the University of Pennsylvania and Constantine Yannelis of the University of Chicago lend support to these points in a new analysis that emphasizes the value of debt relief to borrowers in light of real-world program rules and standard “present value” accounting. They find that debt forgiveness plans, whether universal or capped at $50,000 as Mr. Schumer and Ms. Warren propose, “are highly regressive, with the vast majority of benefits accruing to high-income individuals.” Even a plan capped at $10,000 would disproportionately favor upper-income Americans, though it should be noted that the specific $10,000 plan Mr. Biden floated during the campaign applied only to public-college undergraduate loans and phased out for households above $125,000 in income.

https://www.washingtonpost.com/opini...839_story.html

[sturg33]

Reward stupid decisions by people.

Reward universities for raising prices.

Punish tax payers and people who didnt make the bad financial decisions.

And best yet? It does NOTHING to solve the underlying problem (rising tuition costs). It actually makes it worse

[mqt]

It never made any sense.

The real purpose is to further legitimize that higher education is worthwhile for the majority of the population when in reality maybe about 20% at most should attend college.

This is actually exactly why I disagree with the cancellation of the debt. It’s poor economic policy that resigns ourselves to do it again in 10 years when we don’t change the underlying problem.

[nsacpi]

There is an educational equivalent of the military industrial complex. Like any special interest they are looking out for #1, which more often than not does not coincide with the public interest.

Ditto for healthcare.

I say that as someone who values and admires good teachers and doctors and nurses. What is in their best interest is not always good for students and the rest of us.

[sturg33]

Glad the dems wanna protect them from their own failure

[cajunrevenge]

There is an educational equivalent of the military industrial complex. Like any special interest they are looking out for #1, which more often than not does not coincide with the public interest.

Ditto for healthcare.

I say that as someone who values and admires good teachers and doctors and nurses. What is in their best interest is not always good for students and the rest of us.

That's how government works. All of it.

[nsacpi]

1.1% drop in retail sales in November.

There were no lockdowns in November.

This is damage to the economy from failure to contain the spread of the virus.

[thethe]

1.1% drop in retail sales in November.

There were no lockdowns in November.

This is damage to the economy from failure to contain the spread of the virus.

Or that people aren’t allowed to make a living and have been stripped of their jobs because of non science based restrictions.

[sturg33]

There were no locdowns in November?

Wasn't like, Thanksgiving cancelled?

[Dalyn]

Or that people aren’t allowed to make a living and have been stripped of their jobs because of non science based restrictions.

While you are in such a great place with science, you should check out the rest of it. Physics (Quantum and Theoretical to be more specific) is my favorite. I also particularly love Neuroscience.

[Dalyn]

There were no locdowns in November?

Wasn't like, Thanksgiving cancelled?

hahahahaha

[thethe]

While you are in such a great place with science, you should check out the rest of it. Physics (Quantum and Theoretical to be more specific) is my favorite. I also particularly love Neuroscience.

Check the tape bud. See who has been most accurate on all matters covid.

[nsacpi]

There were no locdowns in November?

Wasn't like, Thanksgiving cancelled?

if you have any evidence that Thanksgiving was cancelled please produce

i can say it was smaller at my house this year than previous years, but this was a decision we made without any governmental compulsion

[nsacpi]

hahahahaha

yeah...the things people say...worth a good laugh