Posted on 04/18/2015 7:03:39 AM PDT by HomerBohn
Elizabeth Warren took one of her characteristically earth-shattering ideas to the Daily Show Thursday night: If we would reduce the interest rate on student loans, young people would have a lot more money to spend.
Rightand then they could buy more weed and then theyd be quieter! Stewart interjected.
That wasnt quite the point Warren wanted to makebut it does a good job of highlighting how ridiculous her economic thinkingor lack thereofis.
Warren has triedand failedin the past to lower student loan interest rates by raising taxes on the wealthy. On Stewarts show, she continued her never-ending quest to convince the audience that its just not fair that kids have to pay a lot of money for college, and the problem is all those mean millionaires who wont pay for everything.
Why cant we reduce the interest rate? Why cant we just say look, thats not what we should be doing as a country? she asked.
We should not say to kids, if your mom and dad can write a check for college you pay this much for college but if they cant, youve got to pay a much higher rate because youve got to pay more on your student loans.
We should not be charging our kids more to get a loan to go to college than we charge big financial institutions in order to finance their businesses, she declared.
Watch below:
(Watch video at link)
a lot more?
the average student debt is about $30,000. paid over 10 years, that’s less then $300/mon.... or $75/week.
that’s really not a lot.
Warren has been showing up with Suze Orman at student debt forums advocating for altering the bankruptcy code to make student loan bankruptable, as it was in the early 1980s.
At what point does community service become indentured servitude?
[[Warrens brilliant idea: If kids had no student loans, they would have a lot more money ]]
and other people would have a lot less money because THEY would have to pay off these kid’s educations- money doesn’t just pop up out of the ground riding a rainbow Mrs Fauxcahontis- someone MUST pay the bill- I know this is a basic financial concept that you can’t seem to comprehend, but it is economics 101- look it up- do yourself a favor and git yerself a little bit of edumacation before you go on national TV and make yerself look dumb....Wooops, too late
Sure they would. At my expense
Then Obama made vague references to forgiving student loan repayments if they were not paid off after ten years or something similar. What would you do if you knew the government was going to pass a magic wand over your debt and forgive it eventually. I wouldn't pay either.
The biggest problem I see with student loans (I never had any loans, worked three part-time jobs and paid cash for my university schooling) is these kids run up $50-100,000 in student loan debt to get a degree in Women's Gender Bias or Black Oppression in Society type degrees which they can't even use to get a job with, let alone a good paying job in order to pay the exorbitant debt back with.
No wonder they want an increase in minimum wage at McDonald's, where most of these idiots end up having to work at.
Certainly. But beyond that, I don't see why the knowledge obtained by spending $60,000 should cost so much. I have been lauding Texas' $10,000.00 degree program since I first heard of it.
With modern Technology, we don't really need all those expensive liberal professors anymore. I think the nation would be better served to replace most of them with machines.
Knowledge should be free. People should be able to get credit for learning on their own if they have the ability to do so.
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