Posted on 11/29/2023 1:21:07 PM PST by Red Badger
The Supreme Court told Biden he cannot forgive student loans at taxpayer expense for 800,000+ people, but he’s doing it anyway. He’s circumventing the law. Not only is he breaking the spirit of the law, but he’s bragging about it to the people who benefited so he can get their votes.
Axios reported:
Exclusive: Biden emails 800k student loan borrowers about forgiven debt
More than 800,000 student loan borrowers are set to receive a message from President Biden Tuesday afternoon.
Why it matters:
The email, shared in advance with Axios, is a direct appeal from the president to beneficiaries of his administration’s debt forgiveness push, as his approval rating among Democrats hit a record low last month, jeopardizing his 2024 re-election bid.
Driving the news:
“I hope this relief gives you a little more breathing room,” Biden’s Tuesday email states.
“I’ve heard from countless people who have told me that relieving the burden of student loan debt will allow them to support themselves and their families, or move forward with life plans they’ve put on hold.”
“I’m proud that we were able to give borrowers like you the relief you earned,” the email said. “I promise you that as long as I am President, I will never stop fighting for hardworking American families.”
Of note: The 813,000 borrowers receiving the email were those who weren’t accurately credited for student loan payments that should have given them forgiveness or people placed into forbearance by loan servicers who violated Department of Education policies.
Biden has used various other programs so these people don’t have to pay back their loans while the rest of us get to pay their debt.
Young voters are slipping away, so he’s luring them back with this giveaway. Eventually, the economy will crash and burn. Democrats will blame Republicans.
I’m sure congress will jump right on that impeachment.
This pretty much tells you current “investigations” will go nowhere.
Pierre finds this charming and engaging ...
Since when is official government business conducted by email?
Banks don’t even do that.
Since congress has never allocated funds for this expenditure Biden should have to take it out of the White House budget.
After that all his homes and assists (even the Mustang) should be seized and sold to make restitution for his miss appropriating US government funds without authority.
This is nothing new and only the latest example of Democrats ignoring judicial rulings that they do not like. And, they are very blatant about it because they have the cover of the corrupt media.
CBG posted: needs to be put in full context.
1. There are more than 45 million student loans out there—so this article is discussing less than 2% of them.
2. More than 500,000 (about 60%) of the forgiven student loans are from a pre-Biden program (PSLF—more info at link).
3. The “new” forgiveness is less than 1% of the total students loans—a drop in the bucket.
4. Even this miserable less than 1% may still be subject to court review and rejection.
https://www.lendingtree.com/student/student-loan-debt-statistics/
You’d have look pretty far down the dregs to find where this POS came from.
They forgive loans they shouldn’t and chase down anyone who sold anything on ebay over $600. This evil rat party is the enemy of all real Americans. They have been for decades. The difference now is it’s crystal clear.
Seriously, I’ve never seen a worse bunch of criminal activists in our government. We would be in our rights to ban the rat party and all leftists from holding office from local to federal. They are all pure 1,000,000% evil and corrupt to the core.
How is Biden going around Congress ? The executive branch does not control the country's money. Congress does.
What about the IRS?
They consider any loan forgiven to be income....................
Most of the Boomers, and that’s me, are either retired or about to (me).
All my dough is in the bank, the house is paid for, and I have no bills except utilities, and once I retire they can all go to hell.....................
Yes. Sociopaths always do brag about their accomplishments....................................................
Mustang?
Corvette........................
The RINOs are complicit and part of the money laundering and child raping system.
They have to protect BIDEN TO PROTECT THEMSELVES.............
They can’t.....................
Yeah, I don't think "Legal" has anything to do with it.... The American people ain't going to do anything about it and it's not HIS money so, why not pay $50,000.00 for every rat vote he can buy.. :(
The demented Joe Biden needs to be removed from office.. And the rat known as Barack Hussein Obama, a/k/a Barry Soetoro, or what ever his name is, needs to be put on trial for treason...
If the Supreme Court upholds Biden’s plan to cancel student loan debt for borrowers, any forgiven loans would be exempt from federal taxation. That’s thanks to the American Rescue Plan, Biden’s Covid-19 relief bill that Congress passed in the spring of 2021.
It allows taxpayers to exclude canceled federal student loan debt from their gross income through 2025.
Typically, any debts that are forgiven are treated as taxable income by the IRS and are subject to taxes. For example, if you owe a creditor $25,000 and the amount is forgiven, you would need to include the $25,000 when determining your taxable income. However, due to the American Rescue Plan, borrowers would not face a tax bill if the program stands.
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