***Official Political Discussion Thread***

[mplsdunk]

I just want to say, if we get our loans forgiven we’re all some broke bois for making under 125k.

They should double them to make us hustle harder.

 

[noskey]

I just want to say, if we get our loans forgiven we’re all some broke bois for making under 125k.

They should double them to make us hustle harder.

We running from the grind

 

[mplsdunk]

The burnout is real.

 

[sonoftony]

unbelievable!! there is nothing more American than being in debt to your eyeballs

 

[Belgium]

unbelievable!! there is nothing more American than being in debt to your eyeballs

Debt is just a state of mind
If you’re on that alpha male grindset, debt is just a bump on the road to success. This is also why taxation is theft, because the government should be paying you for educating them


Beta male brokeboys will never escape the debt mindset. Even if they manage to pay it off with their **** job working for another man, or god forbid a woman, their mind will always be stuck in debt. They’re stuck, programmed by education and too weak-willed to escape the matrix.


More wisdom coming to an alpha male podcast near you soon.

Are you man enough to break out of debt? For only $50/month, I will teach you all you need to know to join the 1% of men. Under alpha male professors verified by myself, each making at least $10k/month, you will learn fast money-making methods such as:
Affiliate marketing
Multilevel marketing schemes
Ponzi schemes
Pyramid schemes
Crypto rug pulling

Remember alpha males, when you’re in prison it’s the government that pays for you.

 

[frenchbreadbuilds]

im hearing a lot of conflicting info about the income limit. is it a family/house hold income of 125k or an individual income of 125k? 125k for a house hold seems low

either way im in favor of any student loan forgiveness whether i qualify or not

 

[RustyShackleford]

Debt is just a state of mind
If you’re on that alpha male grindset, debt is just a bump on the road to success. This is also why taxation is theft, because the government should be paying you for educating them


Beta male brokeboys will never escape the debt mindset. Even if they manage to pay it off with their **** job working for another man, or god forbid a woman, their mind will always be stuck in debt. They’re stuck, programmed by education and too weak-willed to escape the matrix.


More wisdom coming to an alpha male podcast near you soon.

Are you man enough to break out of debt? For only $50/month, I will teach you all you need to know to join the 1% of men. Under alpha male professors verified by myself, each making at least $10k/month, you will learn fast money-making methods such as:
Affiliate marketing
Multilevel marketing schemes
Ponzi schemes
Pyramid schemes
Crypto rug pulling

Remember alpha males, when you’re in prison it’s the government that pays for you.

You forgot the NFTs famb.

Nothing makes me feel more like a man than owning a picture of a cartoon monkey that looks slightly different than the picture of a cartoon monkey that my bro owns

 

[noskey]

Debt is just a state of mind
If you’re on that alpha male grindset, debt is just a bump on the road to success. This is also why taxation is theft, because the government should be paying you for educating them


Beta male brokeboys will never escape the debt mindset. Even if they manage to pay it off with their **** job working for another man, or god forbid a woman, their mind will always be stuck in debt. They’re stuck, programmed by education and too weak-willed to escape the matrix.


More wisdom coming to an alpha male podcast near you soon.

Are you man enough to break out of debt? For only $50/month, I will teach you all you need to know to join the 1% of men. Under alpha male professors verified by myself, each making at least $10k/month, you will learn fast money-making methods such as:
Affiliate marketing
Multilevel marketing schemes
Ponzi schemes
Pyramid schemes
Crypto rug pulling

Remember alpha males, when you’re in prison it’s the government that pays for you.

 

[RustyShackleford]

I am not hard against crypto or NFTs. Like I'm not knocking regular people that buys or trades then.

But the people like Gary Vee that are clearly praying on naive people sense of FOMO to enrich themselves are scumbags

And I wish them the worst

 

[mplsdunk]

You’d be rich off doge if you just remembered your password.

 

[RustyShackleford]

You’d be rich off doge if you just remembered your password.

My therapist has advised my not to discuss this issue

So I would ask you to respect my mental health and not bring it up

 

[mplsdunk]

I’m sorry, I will not bring it up in future conversation.

 

[noskey]

My therapist has advised my not to discuss this issue

So I would ask you to respect my mental health and not bring it up

You just need to make a memecoin of your own to make up for it. PKT SND or DEADBUG. Then rug it. But let me mint some before the pump n dump because I want to be rich too

 

[TooOlfForThisIsh]

But the people like Gary Vee that are clearly praying on naive people sense of FOMO to enrich themselves are scumbags

And I wish them the worst

There was no better proof to me that crypto was too wild for me than having the amped up wine review guy be a major public figure in its world.

That said, I did really enjoy those reviews way back when.

 

[mplsdunk]

We could start a node to secure democracy and take all the libs

 

[red dune]

You have to opt into an income based program to be eligible for the loan forgiveness. And you have to recertify your participation in it every year.

The plan the put people on at the start is the 10 year plan.

You then have to opt into the loan forgiveness when the time comes and the warn about the tax hit

Maybe I am missing something but the IRS can't unilaterally "fix" anything

I'm not talking about the income based plans, but the default for student loans through the government., which is 20 or 25 years depending on the loan. The original legislation passed during the Obama administration stated that those remainder on the loans would be forgiven after that time.

The legislation left open the status of forgiveness of the debt as taxable or non-taxable and instead handed it over to the IRS to decide. The current IRS policy is that they are taxable income. However, they have been empowered by congress to change this policy through administrative rulings if they so choose.

There will be a tidalwave wave of citizens staring in 2030 (the soonest of these loans to be eventually forgiven) where the IRS is going to have to revisit its current administrative rule that this type of cancelation is taxable income. They otherwise face a tax bomb that will blow up in their face at the sheer amount of defaults on taxes and bankruptcy declarations they could be facing.

The IRS absolutely has the power to declare debt forgiveness of these 20 and 25 year loans as not taxable if they want, but they have not had a need for it, since it won't become a critical issue until 2030.

 

[red dune]

On the plus side, congress recently stepped in with one of the American Relief Plan Act of 2021 flat out states that all student loan debt forgiveness through 2025 is not to be considered as taxable income.

 

[whywesteppin]

You forgot the NFTs famb.

Nothing makes me feel more like a man than owning a picture of a cartoon monkey that looks slightly different than the picture of a cartoon monkey that my bro owns

probably the first time I agree with you.

 

[RustyShackleford]

I'm not talking about the income based plans, but the default for student loans through the government., which is 20 or 25 years depending on the loan. The original legislation passed during the Obama administration stated that those remainder on the loans would be forgiven after that time.

The legislation left open the status of forgiveness of the debt as taxable or non-taxable and instead handed it over to the IRS to decide. The current IRS policy is that they are taxable income. However, they have been empowered by congress to change this policy through administrative rulings if they so choose.

There will be a tidalwave wave of citizens staring in 2030 (the soonest of these loans to be eventually forgiven) where the IRS is going to have to revisit its current administrative rule that this type of cancelation is taxable income. They otherwise face a tax bomb that will blow up in their face at the sheer amount of defaults on taxes and bankruptcy declarations they could be facing.

The IRS absolutely has the power to declare debt forgiveness of these 20 and 25 year loans as not taxable if they want, but they have not had a need for it, since it won't become a critical issue until 2030.

Do you have a source for this information? Because I have never heard about this

Right here it states the standard student loan plan is the 10-year plan. That the plan me and all my friends got put on at first.

https://studentaid.gov/manage-loans/repayment/plans

Forgiveness after 20 and 25 years are mostly to dow ith the income based plans plans

Those are plans you have to opt into. And people have to opt into forgiveness.

What you are saying here is not making sense to me. People own loans to the Department of Education. Usually people pay taxes on the forgiven amount. So the Dept. Of Education is the one that grants forgiveness. And the IRS can't waive a tax bill without a law backing it up.

Even if the IRS had the unilateral power like you claim. We don't know who will be in the White House in the 2030s. I find it hard to believe that the IRS will just go about forgiving tax bills even against the wishes of a Republican Dept. Of Treasury and Republican President.

So please, link where you are getting this from. Not saying what you said is false, but I have never heard of it working that way.

 

[Wargames]

Forget 10k forgive 10k or the interest (whichever is more) and make all loan non interest earning. At the very least that create a system where people can say “I am paying down the loan” and not just paying down the interest.

At the very least Biden is doing what he campaigned on and that’s more than the vast majority of politicians who ain’t ****.

 

[superblytrife]

I’m glad they’re seriously considering 10k in forgiveness, but I really hope they’ve put thought into how this will go down. If it’s anything like the current PSLF program, folks are gonna be waiting a long *** time for forgiveness. I’m 3 months into this and they haven’t even certified my employment yet, which is just the first step to forgiveness.

When it comes it comes I guess, and I’ll be thankful for it. But lawd the process could use some streamlining. They’re rivaling the IRS when it comes to efficiency, which is never a good thing (still waiting on my return I filed in March).

 

[letsgetit22]

That damn 125k cap
Anyway, I am glad some people will get some type of relief. Even if it's not me.

Spoiler

 

[RustyShackleford]

I’m glad they’re seriously considering 10k in forgiveness, but I really hope they’ve put thought into how this will go down. If it’s anything like the current PSLF program, folks are gonna be waiting a long *** time for forgiveness. I’m 3 months into this and they haven’t even certified my employment yet, which is just the first step to forgiveness.

When it comes it comes I guess, and I’ll be thankful for it. But lawd the process could use some streamlining. They’re rivaling the IRS when it comes to efficiency, which is never a good thing (still waiting on my return I filed in March).

Rumor is the Department of Education has been prepping for month to be able to quickly forgive the loans once Biden makes the announcement.

So more most people it won't take more than 90 days.

 

[RustyShackleford]

What's funny is that conservatives are probably gonna sue to block this too.

If the Supreme Court blocks this, man that would suck

 

[frink85]

What's funny is that conservatives are probably gonna sue to block this too.

If the Supreme Court blocks this, man that would suck

their constituents either paid for college straight cash homie or didn't go anywhere near college, no skin off their backs