It's great that Biden cancelled 10k in student loans and added another 10k to pell grant recipients, but y'all really gotta stop making this a race thing. By and large the racial wealth gap is only increasing because of this and that's an undisputable fact. It's either extreme ignorance at best or straight up selfish dishonesty at worst to bring race in this conversation and not have race based solutions. Just be grateful for your chump change and keep quiet about race on this one, goddamn.
If Biden Had Cancelled $50,000 of Student Debt, Black Wealth Would Have Increased By 40 Percent
- Thread starter I Really Mean It
- Start date
Where's the source that says Black wealth would of increased 40%? And also since we being generous, White wealth would of been increased by 80%, still relegating Black wealth at the bottom of this countryBiden had a golden opportunity to repay black men and women the favor for decades of unwavering support for the Democratic Party, a chance to make the grandest gesture of good will the black community has received from a President in our lifetime. Student loan debt disproportionately burdens black America, affecting its net worth in a way that is unique and unfelt by any other group in this country; black Americans shoulder a higher percentage of student debt than white Americans, affecting black families’ net worth more than that of white families.
In a Presidency filled with executive orders issued in support of various non-black interest groups, for whom presidential support of congressional action has also been given, it’s reprehensible that Biden refused to avail himself of this moment to reward the one group who put him in office and gave him a Senate majority to work with.
There’s a problem though. There are good reasons why America is divided on this issue. This is a very polarizing topic. This seems like a last ditch effort to buy a couple of votes before midterms. A better solution….
It would be fair if $10k for higher education was available to EVERY single American. If you have $35k worth of student loans, now you have $25k. If you wanted to attend college but chose not to for financial (or whatever) reasons, you get a $10k credit if you decide to go now or in the future. If you’ve already attended school and paid out of pocket, or you’ve already paid your debt, you get a $10k tax credit or a check in the mail. This should apply to EVERY American Citizen that makes less than $125k both now and in the future. THEN, limit or put a cap on how much these billion dollar institutions are allowed to charge students. Like any other for-profit entity, they’ll likely attempt to raise their costs even higher once everyone has access to $10k for school. They also need to cap the high ass interest rates on ALL student loans, and/or just eliminate the interest of all government education loans.
I don’t think that Biden has the authority to do all of that across the board, but that’s what needs to be done. Congress needs to handle this pronto. That’s one of the only issues that I can agree on with a handful of genuine Democrats. Something that I can support. That’s lowering the costs of school. Making higher public education universal.
No strings attached. No pork fat in the legislation. No attempting to sneak extra shyt in the bills. No games. No bullshyt. No identity politics. Simply address the high costs of education for all Americans. Biden ran on getting shyt done, unification, and reaching “across the aisle”. Hopefully he does better with federal Marijuana legalization, but I HIGHLY doubt that he’ll even address it like he said he would. Instead, they push a half assed climate bill disguised as the “Inflation Reduction” Act that doesn’t even address this record inflation.
I’m so sick of our politicians, man. I can’t stand 99% of them.
I Really Mean It
Veteran
White people, off the sheer distance traveled since their head start, will always be ahead of us. That’s no excuse to decline the chance, when presented at such an opportune moment, to do something that generously rewards the black community for its steadfast support and helps redress the economic hardship it continues to suffer through systemic oppression.
Where's the data that says black wealth would increase by 40%?White people, off the sheer distance traveled since their head start, will always be ahead of us. That’s no excuse to decline the chance, when presented at such an opportune moment, to do something that generously rewards the black community for its steadfast support and helps redress the economic hardship it continues to suffer through systemic oppression.
Mike Nasty
Veteran
If Biden had of forgiven $50K dummy OP would have made a thread asking why it wasn't $100K.
@I Really Mean It is ignoring this post.
this nikka tried pushing anti biden/pro right wing extremist rhetoric in a thread...and when he received overwhelming opposition he changed his tune....
he makes calculated posts to subtly push anti left sentiment... and when its accidently too blatent and gets rejected he softens his stance to maintain his persona....
shyt is adding up
EDIT: just quoting OP for the record... making sure he cant delete
Debt relief isn't "wealth creation"
I hate these stats sometimes.
I hate these stats sometimes.
OP isn't wrong. A lot of you are loudly stupid in here.
Your taxes, right now, are being used to send aid to Ukraine...in the billions and you're all okay with that.
But you're not okay with using those same tax dollars for debt relief and social safety nets? That's fukking insane and retarded. What are Ukrainians doing to earn your tax dollars that other Americans aren't?
Someone here had the audacity to claim that it would be the largest transfer of wealth in history and, therefore, would be unfair.
That's also fukking retarded because the largest transfer of wealth in history is about to happen for the next 23 years.
About $70 TRILLION, with a T, is about to be transferred from one generation of the rich (top 1%) to the next thanks to insanely generous tax breaks from the Republican party.
But we're not okay with increasing the student loan debt forgiveness to 50k and, therefore, practically boosting black wealth and removing black folks from debt traps. Again, OP is not wrong. Demanding better of both parties is literally part of the democratic process.
Your taxes, right now, are being used to send aid to Ukraine...in the billions and you're all okay with that.
But you're not okay with using those same tax dollars for debt relief and social safety nets? That's fukking insane and retarded. What are Ukrainians doing to earn your tax dollars that other Americans aren't?
Someone here had the audacity to claim that it would be the largest transfer of wealth in history and, therefore, would be unfair.
That's also fukking retarded because the largest transfer of wealth in history is about to happen for the next 23 years.
About $70 TRILLION, with a T, is about to be transferred from one generation of the rich (top 1%) to the next thanks to insanely generous tax breaks from the Republican party.
But we're not okay with increasing the student loan debt forgiveness to 50k and, therefore, practically boosting black wealth and removing black folks from debt traps. Again, OP is not wrong. Demanding better of both parties is literally part of the democratic process.
Tell that to warren
BobbyWojak
Superstar
Pay no attention to that man behind the curtain.
Politicians understand most Americans are emotionalist. How would they get people to vote and rally against. If they didnt make people upset
?
Looks like an FTD.1 post
Yeah but cmon now. And I’m the biggest Warren fan on here.