Marco Rubio endorses slavery

[ksen]

Last week when I found The Libertarian Case for Slavery I thought no one can really believe this.

But I guess I was wrong and there really are people out there who think we should be able to sell ourselves into slavery or indentured servitude.

http://www.rubio.senate.gov/public/index.cfm/press-releases?ID=a24acd97-025e-4ed7-9672-7a84eb76606b

For example, what if in addition to traditional loans, we could give students the option of paying for their education without acquiring any student loans at all?

Let’s say you are a student who needs $10,000 to pay for your last year of school. Instead of taking this money out in the form of a loan, you could apply for a “Student Investment Plan” from an approved and certified private investment group. In short, these investors would pay your $10,000 tuition in return for a percentage of your income for a set period of time after graduation – let’s say, for example, 4% a year for 10 years.

This group would look at factors such as your major, the institution you’re attending, your record in school – and use this to make a determination about the likelihood of you finding a good job and paying them back.

Unlike with loans, you would be under no legal obligation to pay back that entire $10,000. Your only obligation would be to pay that 4% of your income per year for 10 years, regardless of whether that ends up amounting to more or less than $10,000.

So we have Rubio endorsing literally selling yourself to the highest bidder and Wisconsin republicans legislating the weekend away.

Yes, we should really trust these guys with the levers of power.

 

[dismal]

Without reading post I am willing to bet anyone $1 gubzillion thread title does not accurately portray link.

 

[untermensche]

Rubio isn't capable of an original thought.

This is something rich investors want.

To make more money off the obscene cost of higher education.

 

[Bronzeage]

It's hardly a Libertarian idea.

There is no reason a bank or investment company could not do this exact thing today. It would be a contract a student and an investor, but it doesn't currently exist.

For Rubio's idea to work and create a financial instrument which would facilitate his idea, the government would have to offer some financial incentive, such as a guaranteed return, or some kind of generous tax break.

How Libertarian is that?

 

[Tom Sawyer]

The government giving tax breaks to large corporations is as libertarian as it gets.

 

[ksen]

It's hardly a Libertarian idea.

Being allowed to sell yourself is though.

- - - Updated - - -

Without reading post

why start now?

amirite?

 

[Axulus]

Last week when I found The Libertarian Case for Slavery I thought no one can really believe this.

But I guess I was wrong and there really are people out there who think we should be able to sell ourselves into slavery or indentured servitude.

http://www.rubio.senate.gov/public/index.cfm/press-releases?ID=a24acd97-025e-4ed7-9672-7a84eb76606b

For example, what if in addition to traditional loans, we could give students the option of paying for their education without acquiring any student loans at all?

Let’s say you are a student who needs $10,000 to pay for your last year of school. Instead of taking this money out in the form of a loan, you could apply for a “Student Investment Plan” from an approved and certified private investment group. In short, these investors would pay your $10,000 tuition in return for a percentage of your income for a set period of time after graduation – let’s say, for example, 4% a year for 10 years.

This group would look at factors such as your major, the institution you’re attending, your record in school – and use this to make a determination about the likelihood of you finding a good job and paying them back.

Unlike with loans, you would be under no legal obligation to pay back that entire $10,000. Your only obligation would be to pay that 4% of your income per year for 10 years, regardless of whether that ends up amounting to more or less than $10,000.

So we have Rubio endorsing literally selling yourself to the highest bidder and Wisconsin republicans legislating the weekend away.

Yes, we should really trust these guys with the levers of power.

Someone apparently has no clue what the word "slavery" means.

By the same logic, taxation is slavery. Congrats, you are now a card carrying member of the extreme libertarian camp.

 

[Axulus]

It's hardly a Libertarian idea.

There is no reason a bank or investment company could not do this exact thing today. It would be a contract a student and an investor, but it doesn't currently exist.

For Rubio's idea to work and create a financial instrument which would facilitate his idea, the government would have to offer some financial incentive, such as a guaranteed return, or some kind of generous tax break.

How Libertarian is that?

A company used to do it but they discontinued:

Today we’re announcing that we’ve decided to discontinue offering income share agreements on the Upstart platform. After significant soul searching, we concluded that it’s best to focus our efforts on the fixed-rate loan product we announced recently. We understand that this may be disappointing to many in the Upstart community, but as a young startup, we need to listen to what the market is telling us. Because so many of you are entrepreneurs yourselves, we’re hopeful you’ll understand our decision.

We’re still huge fans of income share agreements, and their potential to provide a better means of paying for college and funding aspiring entrepreneurs. From a regulatory perspective, the income share concept has been received warmly to date. And while many regulatory and policy efforts are underway to facilitate the development of the market, these efforts will likely take many years—a timeframe ill-suited for a startup like ours.

http://blog.upstart.com/sunsetting-income-share-agreements-on-upstart/#.VZ29AflVhBc

 

[Bronzeage]

A company used to do it but they discontinued:

Today we’re announcing that we’ve decided to discontinue offering income share agreements on the Upstart platform. After significant soul searching, we concluded that it’s best to focus our efforts on the fixed-rate loan product we announced recently. We understand that this may be disappointing to many in the Upstart community, but as a young startup, we need to listen to what the market is telling us. Because so many of you are entrepreneurs yourselves, we’re hopeful you’ll understand our decision.

We’re still huge fans of income share agreements, and their potential to provide a better means of paying for college and funding aspiring entrepreneurs. From a regulatory perspective, the income share concept has been received warmly to date. And while many regulatory and policy efforts are underway to facilitate the development of the market, these efforts will likely take many years—a timeframe ill-suited for a startup like ours.

http://blog.upstart.com/sunsetting-income-share-agreements-on-upstart/#.VZ29AflVhBc

Note the "many regulatory and policy efforts are underway to facilitate the development of the market,". That's grown up talk for government financial incentives and tax breaks.

 

[fromderinside]

Without reading post I am willing to bet anyone $1 gubzillion thread title does not accurately portray link.

Oh, it's much worse than that. Not only does he suggest indenture, but he, justifies higher tuitions with "'they always told us we needed higher tuition to keep faculty". Well yes.

University systems needed higher tuition because state and federal government reduced their participation in public education support. So as time passed and number of people attending college increased government decreased priority for college and university funding primarily to avoid or even reduce taxes. Unfortunately the trickle down didn't work for education either.

So its two.

Slavery and lying that Rubio for which put himself on record.

Be sure to not read other posts so you can look the wank even more by boasting willful ignorance.

 

[Loren Pechtel]

How in the world is this slavery?

They're simply paying a percentage of income rather than a fixed amount--they have no say on your actions. What's so horrible about this?

 

[KeepTalking]

The word "slavery" has a meaning. This isn't it.

 

[untermensche]

The word "slavery" has a meaning. This isn't it.

The high cost of education is a kind of servitude. A servitude to the banks. Working many hours for the banks.

And of course we will not hear one idea on how to reduce the cost of education from the right.

Economic servitude is exactly what their masters desire.

 

[dismal]

The word "slavery" has a meaning. This isn't it.

ksen's been reading those "taxes are slavery" websites again. This does sort of look like an income tax, except one you can avoid.

 

[KeepTalking]

The word "slavery" has a meaning. This isn't it.

The high cost of education is a kind of servitude. A servitude to the banks. Working many hours for the banks.

And of course we will not hear one idea on how to reduce the cost of education from the right.

Economic servitude is exactly what their masters desire.

Is owning a home with a mortgage and property taxes slavery? How about a car loan? A credit card? I have all of these things, and all of them require me to pay a percentage of my income to a bank or credit union. I don't consider myself a slave.

 

[untermensche]

The high cost of education is a kind of servitude. A servitude to the banks. Working many hours for the banks.

And of course we will not hear one idea on how to reduce the cost of education from the right.

Economic servitude is exactly what their masters desire.

Is owning a home with a mortgage and property taxes slavery? How about a car loan? A credit card? I have all of these things, and all of them require me to pay a percentage of my income to a bank or credit union. I don't consider myself a slave.

Yes they are forms of economic servitude.

Of course.

Work hard. Others riding in their private jets are making a lot of money off you.

Capitalism is all about getting people trapped in economic servitude. Depriving people of a means to survive without renting themselves so others can profit off their labor. It is just one small baby step from slavery after all.

 

[laughing dog]

This proposal is more like a form of indentured servitude that slavery.

 

[KeepTalking]

Is owning a home with a mortgage and property taxes slavery? How about a car loan? A credit card? I have all of these things, and all of them require me to pay a percentage of my income to a bank or credit union. I don't consider myself a slave.

Yes they are forms of economic servitude.

Of course.

Yet, if I did not have that mortgage, which allows me to own a home, I would still be paying rent to a landlord, and all that money would be going towards owning absolutely nothing. If I did not have that car loan, I would not be able to get to work in a timely fashion, and would have to pay for extremely slow public transportation, spending time and money that once again allows me to own nothing. The credit card I could probably find a way to do without, but it is becoming increasingly necessary. I actually tend to use my debit card much more, and only make purchases on the credit card these days that I can pay off in the next month before interest applies. The reason I do this is to rebuild my credit, which took some hard hits in the first decade of the 00's. So, what would you suggest I do to release myself from the slavery of home ownership, a car loan (to be paid off within the next year), and a credit card (paid off every month)?

Work hard. Others riding in their private jets are making a lot of money off you.

My work is not physically demanding, I am a software engineer, and have enough free time during the work day to discuss religion, politics, and pop culture on message boards. That said, I do my job well, and am constantly recognized for my good work. Recently, I have been making a lot of money off of me, and have even been able to join the investment class as a result of my not very hard work.

Capitalism is all about getting people trapped in economic servitude. Depriving people of a means to survive without renting themselves so others can profit off their labor. It is just one small baby step from slavery after all.

I don't feel trapped. I don't feel like a slave. I feel liberated and free to pursue several hobbies, including debating the proper use of the term 'slavery'. This thread is predicated on using the term incorrectly, in my opinion. It does a real disservices to those who are now, and have historically been, trapped in actual slavery.

 

[untermensche]

Yes they are forms of economic servitude.

Of course.

Yet, if I did not have that mortgage, which allows me to own a home, I would still be paying rent to a landlord...

Within a capitalist economy these are your choices. But of course there are ways to provide people with decent housing without forcing them into a form of servitude. But nobody profits from those schemes.

Work hard. Others riding in their private jets are making a lot of money off you.

My work is not physically demanding, I am a software engineer, and have enough free time during the work day to discuss religion, politics, and pop culture on message boards. That said, I do my job well, and am constantly recognized for my good work. Recently, I have been making a lot of money off of me, and have even been able to join the investment class as a result of my not very hard work.

You would be keeping more if you didn't have a bunch of blood sucking leeches attached to you.

Capitalism is all about getting people trapped in economic servitude. Depriving people of a means to survive without renting themselves so others can profit off their labor. It is just one small baby step from slavery after all.

I don't feel trapped. I don't feel like a slave. I feel liberated and free to pursue several hobbies, including debating the proper use of the term 'slavery'. This thread is predicated on using the term incorrectly, in my opinion. It does a real disservices to those who are now, and have historically been, trapped in actual slavery.

The house slaves didn't think things were so bad either.

 

[KeepTalking]

Yet, if I did not have that mortgage, which allows me to own a home, I would still be paying rent to a landlord...

Within a capitalist economy these are your choices. But of course there are ways to provide people with decent housing without forcing them into a form of servitude. But nobody profits from those schemes.

Just because someone profits from something, it does not make that thing slavery.

Work hard. Others riding in their private jets are making a lot of money off you.

My work is not physically demanding, I am a software engineer, and have enough free time during the work day to discuss religion, politics, and pop culture on message boards. That said, I do my job well, and am constantly recognized for my good work. Recently, I have been making a lot of money off of me, and have even been able to join the investment class as a result of my not very hard work.

You would be keeping more if you didn't have a bunch of blood sucking leeches attached to you.

Undoubtedly. But, once again, what is your solution to removing those leeches?

Capitalism is all about getting people trapped in economic servitude. Depriving people of a means to survive without renting themselves so others can profit off their labor. It is just one small baby step from slavery after all.

I don't feel trapped. I don't feel like a slave. I feel liberated and free to pursue several hobbies, including debating the proper use of the term 'slavery'. This thread is predicated on using the term incorrectly, in my opinion. It does a real disservices to those who are now, and have historically been, trapped in actual slavery.

The house slaves didn't think things were so bad either.

Yes, but then again they were actual slaves. They were considered property, and had no control over their own destiny without risking their very lives. They labored for absolutely no recompense. I am in no way like them. I have choices regarding where I work, my skills are in demand. I have control over my destiny, and have choices as to where I live. I am not considered property, and in fact, I own property of my own. I am paid for my work, and in comparison to many others I am paid well.

In short, I am not a slave, and neither is a person who pays 4% of their yearly income to pay off a student loan. I don't necessarily agree that Rubio's idea is a good one. I actually loathe the man, but that does not mean that what he is endorsing is slavery.