More garbage from Trump's people--this time, student loans

[Loren Pechtel]

https://www.reuters.com/article/us-...uded-students-inspector-general-idUSKBN1E52RB

They're supposed to forgive when the school was fraudulent. Now they're just sitting on the requests so there's nothing to appeal.

 

[Opoponax]

Trump/GOP fucking despises the American citizenry. It's the only reasonable thing to deduce. From healthcare to taxes to wages to education, etc. It's all about them finding a way to shorten our lives and siphoning off as much money from us as possible in the meantime.

 

[untermensche]

Impossible to fathom the typical Trump voter.

Everything Trump is doing is going to make their lives more expensive dangerous and short.

 

[Jimmy Higgins]

As we would expect from people that never had to work to get what they have.

 

[Underseer]

Impossible to fathom the typical Trump voter.

Everything Trump is doing is going to make their lives more expensive dangerous and short.

They think of themselves as temporarily inconvenienced rich people, so in their minds they are voting for their own interests.

And remember: if you criticize them in any way for this, you are the "elitist."

 

[Underseer]

https://www.reuters.com/article/us-...uded-students-inspector-general-idUSKBN1E52RB

They're supposed to forgive when the school was fraudulent. Now they're just sitting on the requests so there's nothing to appeal.

How dare those moochers default on their student loans? [/facetious]

 

[Elixir]

Trump/GOP fucking despises the American citizenry. It's the only reasonable thing to deduce. From healthcare to taxes to wages to education, etc. It's all about them finding a way to shorten our lives and siphoning off as much money from us as possible in the meantime.

That's just a mean thing to say. They don't despise US citizens at all. In fact, they couldn't care less about them. As long as the Rethuglican power brokers can line their own pockets and those of their donors, they won't complain about anyone else who happens to thrive. Of course they won't bat an eyelash about many of them dying young, growing up ignorant or suffering preventable health crises either... But no - they don't have time to waste despising US citizens, just fuck 'em.

 

[Playball40]

Fuckers.

 

[Opoponax]

Trump/GOP fucking despises the American citizenry. It's the only reasonable thing to deduce. From healthcare to taxes to wages to education, etc. It's all about them finding a way to shorten our lives and siphoning off as much money from us as possible in the meantime.

That's just a mean thing to say. They don't despise US citizens at all. In fact, they couldn't care less about them. As long as the Rethuglican power brokers can line their own pockets and those of their donors, they won't complain about anyone else who happens to thrive. Of course they won't bat an eyelash about many of them dying young, growing up ignorant or suffering preventable health crises either... But no - they don't have time to waste despising US citizens, just fuck 'em.

Yeah, that's probably more accurate. As long as there's enough consuming going on, they're more than okay.

 

[Elixir]

Trump/GOP fucking despises the American citizenry. It's the only reasonable thing to deduce. From healthcare to taxes to wages to education, etc. It's all about them finding a way to shorten our lives and siphoning off as much money from us as possible in the meantime.

That's just a mean thing to say. They don't despise US citizens at all. In fact, they couldn't care less about them. As long as the Rethuglican power brokers can line their own pockets and those of their donors, they won't complain about anyone else who happens to thrive. Of course they won't bat an eyelash about many of them dying young, growing up ignorant or suffering preventable health crises either... But no - they don't have time to waste despising US citizens, just fuck 'em.

Yeah, that's probably more accurate. As long as there's enough consuming going on, they're more than okay.

If this tax grift passes, I'll pocket some significant extra cash over the next 2 years. But strategic planning meetings are coming up, and with this pocket-picking exercise in play, we have to assume that our B2B segment will grow, and our consumer business will take a hit.
I'm wondering if anything could be done in the near future - under any scenario - to mitigate the damage.

 

[KeepTalking]

Yeah, that's probably more accurate. As long as there's enough consuming going on, they're more than okay.

If this tax grift passes, I'll pocket some significant extra cash over the next 2 years. But strategic planning meetings are coming up, and with this pocket-picking exercise in play, we have to assume that our B2B segment will grow, and our consumer business will take a hit.
I'm wondering if anything could be done in the near future - under any scenario - to mitigate the damage.

I haven't owned a business in nearly two decades, and even living in a state with state income tax (Illinois), I stand to see a benefit from this tax plan (at least until 2027). I still think it is a terrible piece of legislation, and oppose it. Even though I would love to no longer have to dig out my checkbook come tax time when I claim 0 deductions on my W4, I just don't think it is right that I would get to benefit from that while a majority of taxpayers are getting screwed. And of course, if there ever comes a time when I will need SS and/or Medicare, this tax plan makes it very likely that they won't be there by then.

Of course this has nothing to do with student loans, so my apologies for the derail.

 

[Elixir]

Yeah, that's probably more accurate. As long as there's enough consuming going on, they're more than okay.

If this tax grift passes, I'll pocket some significant extra cash over the next 2 years. But strategic planning meetings are coming up, and with this pocket-picking exercise in play, we have to assume that our B2B segment will grow, and our consumer business will take a hit.
I'm wondering if anything could be done in the near future - under any scenario - to mitigate the damage.

I haven't owned a business in nearly two decades, and even living in a state with state income tax (Illinois), I stand to see a benefit from this tax plan (at least until 2027). I still think it is a terrible piece of legislation, and oppose it. Even though I would love to no longer have to dig out my checkbook come tax time when I claim 0 deductions on my W4, I just don't think it is right that I would get to benefit from that while a majority of taxpayers are getting screwed. And of course, if there ever comes a time when I will need SS and/or Medicare, this tax plan makes it very likely that they won't be there by then.

Of course this has nothing to do with student loans, so my apologies for the derail.

Reflects my sentiment very well. I seriously oppose this kleptocratic move, and I am in a unique (in my experience - probably in my life) position to profit from it bigly. It is very likely that we will sell the business early next year (actually pushed a closing back from a 12/28 planned date), and it's structured with a 3 year payout. Our accountant showed how the tax ripoff would benefit the three partners, and it was a shock. BIG dollars (in my small-dollar world) - more than a year of median income - added to net receipts for each of us for each of the three years of payout.
It is, I admit, hard not to harbor some anticipation for a windfall like that, but knowing how badly the whole thing will suck for most Americans takes all the joy out of it. I hope it goes down in flames, and that those flames consume Cheato, Bitch McConnell and the whole corrupt Rethuglican enterprise. I'd gladly forego the wealth to see that happen!

 

[Malintent]

I haven't owned a business in nearly two decades, and even living in a state with state income tax (Illinois), I stand to see a benefit from this tax plan (at least until 2027). I still think it is a terrible piece of legislation, and oppose it. Even though I would love to no longer have to dig out my checkbook come tax time when I claim 0 deductions on my W4, I just don't think it is right that I would get to benefit from that while a majority of taxpayers are getting screwed. And of course, if there ever comes a time when I will need SS and/or Medicare, this tax plan makes it very likely that they won't be there by then.

Of course this has nothing to do with student loans, so my apologies for the derail.

Reflects my sentiment very well. I seriously oppose this kleptocratic move, and I am in a unique (in my experience - probably in my life) position to profit from it bigly. It is very likely that we will sell the business early next year (actually pushed a closing back from a 12/28 planned date), and it's structured with a 3 year payout. Our accountant showed how the tax ripoff would benefit the three partners, and it was a shock. BIG dollars (in my small-dollar world) - more than a year of median income - added to net receipts for each of us for each of the three years of payout.
It is, I admit, hard not to harbor some anticipation for a windfall like that, but knowing how badly the whole thing will suck for most Americans takes all the joy out of it. I hope it goes down in flames, and that those flames consume Cheato, Bitch McConnell and the whole corrupt Rethuglican enterprise. I'd gladly forego the wealth to see that happen!

I am in a similar situation... in that, I too will reap a large benefit from the proposed plan... the cap of SALT deductions is the worse of it for me.... the change in rate and AMT will allow me to save tens of thousands next year, after the (small) reduction in SALT deduction.

My State taxes needed to go down... my Federal tax did not.

The correct action for them to have taken (considering they were all-in for multi-trillion dollar deficit increase) would have been to leave all of the highest tax brackets the same, and simply eliminate the bottom two.

In other words, earn less than $40k per year and pay 0 tax. Leave everything else alone and you have around the same deficit increase, but like half of America suddenly able to afford a new car, a new house, and higher quality food and healthcare.

.. but then all of the super Pac GOP donors dry up.

 

[Elixir]

I haven't owned a business in nearly two decades, and even living in a state with state income tax (Illinois), I stand to see a benefit from this tax plan (at least until 2027). I still think it is a terrible piece of legislation, and oppose it. Even though I would love to no longer have to dig out my checkbook come tax time when I claim 0 deductions on my W4, I just don't think it is right that I would get to benefit from that while a majority of taxpayers are getting screwed. And of course, if there ever comes a time when I will need SS and/or Medicare, this tax plan makes it very likely that they won't be there by then.

Of course this has nothing to do with student loans, so my apologies for the derail.

Reflects my sentiment very well. I seriously oppose this kleptocratic move, and I am in a unique (in my experience - probably in my life) position to profit from it bigly. It is very likely that we will sell the business early next year (actually pushed a closing back from a 12/28 planned date), and it's structured with a 3 year payout. Our accountant showed how the tax ripoff would benefit the three partners, and it was a shock. BIG dollars (in my small-dollar world) - more than a year of median income - added to net receipts for each of us for each of the three years of payout.
It is, I admit, hard not to harbor some anticipation for a windfall like that, but knowing how badly the whole thing will suck for most Americans takes all the joy out of it. I hope it goes down in flames, and that those flames consume Cheato, Bitch McConnell and the whole corrupt Rethuglican enterprise. I'd gladly forego the wealth to see that happen!

I am in a similar situation... in that, I too will reap a large benefit from the proposed plan... the cap of SALT deductions is the worse of it for me.... the change in rate and AMT will allow me to save tens of thousands next year, after the (small) reduction in SALT deduction.

My State taxes needed to go down... my Federal tax did not.

The correct action for them to have taken (considering they were all-in for multi-trillion dollar deficit increase) would have been to leave all of the highest tax brackets the same, and simply eliminate the bottom two.

In other words, earn less than $40k per year and pay 0 tax. Leave everything else alone and you have around the same deficit increase, but like half of America suddenly able to afford a new car, a new house, and higher quality food and healthcare.

.. but then all of the super Pac GOP donors dry up.

Exactly. I'm not one of those millionaires yelling about not needing a tax break - the windfall is an addition to a modest retirement fund. But I am far more concerned about the health of the democratic republic than about my own financial security. It is beyond cruel and unconscionable that these kleptocrats want to INCREASE the disparity in wealth that is already tearing at our social fabric.

earn less than $40k per year and pay 0 tax.

It would be fair enough to exempt the first $40k of EVERYONE's income from taxation, and leave the rest of the structure in place - or even raise the top rates.