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I LOVE Elizabeth Warren: All aboard - WOO WOO!!! (3 Viewers)

I don't like Warren and I especially don't like student loan forgiveness, but I didn't see anything noteworthy about that exchange.  Candidates probably get this sort of thing on a semi-regular basis.  Joe Biden nearly threw down with some guy a couple of months ago.

 
Student loan forgiveness is a worthwhile subject. Whether a person smirked or didn't in response to a differing opinion is not.

You people focus on some bizarre and irrelevant things.
Forget the smirk (I didn't think there was a smirk, I think it was her smile face because the cameras are always on), her dismissal of a very valid concern to one of her cornerstone agenda items is the real story.  "Of course not", she does't care about his struggles as long as she gets votes based on other people's struggles.

 
I didn't see anything that looked inappropriate from Warren. Obviously I disagree with her plan, but I don't think she laughed at him or smirked. 
I'll look at the video later but if she said what she supposedly said I'm going to have to side with the Trump supporters on this one. Let's try being fair to everyone or none at all. 

 
Forget the smirk (I didn't think there was a smirk, I think it was her smile face because the cameras are always on), her dismissal of a very valid concern to one of her cornerstone agenda items is the real story.  "Of course not", she does't care about his struggles as long as she gets votes based on other people's struggles.
I don't see the part where she doesn't care about his struggles. "Of course not" was because the guy already knew the answer to his question before he asked it.  Is it your impression that this guy was presenting a point of view that Warren had not previously considered?

My personal view is also that this guy comes across as having not a particularly sympathetic grievance.  Seems like he should be more pissed about the Republican Tax Cuts if he's going to complain about a government policy that doesn't help him but does benefit other people that are already better off.

 
Virtually every law.  But as one example I’ll say the mortgage interest deduction because it seems sorts analogous.  “I did the right thing and paid off my whole house, why does that guy get to deduct from his taxes just because he spent money on other stuff instead?”
Not a fan.  Never have been.  Massive handout to middle class and upper class homeowners. 

 
Not a fan.  Never have been.  Massive handout to middle class and upper class homeowners. 
But what about recent home purchasers who factored in the mortgage interest deduction when they made the decision to stop renting and buy.  They’re now screwed.  
 

fatguys point stands.  There are always winners and losers with every legislative change.  The question should be, is the policy better for our society as a whole.  

 
But what about recent home purchasers who factored in the mortgage interest deduction when they made the decision to stop renting and buy.  They’re now screwed.  
 

fatguys point stands.  There are always winners and losers with every legislative change.  The question should be, is the policy better for our society as a whole.  
Agree on the first comment.  I wouldn’t have supported the mortgage interest deduction way back in the day when it was proposed - but now it’s too late.  People count on it today.  That’s why we can’t change it now - because it would screw the people who “played by the previous rules.”  Which actually goes against fatguy’s point.  It’s in favor of the status quo.  

So to the second paragraph, no, fatguy’s point doesn’t stand.

 
Agree on the first comment.  I wouldn’t have supported the mortgage interest deduction way back in the day when it was proposed - but now it’s too late.  People count on it today.  That’s why we can’t change it now - because it would screw the people who “played by the previous rules.”  Which actually goes against fatguy’s point.  It’s in favor of the status quo.  

So to the second paragraph, no, fatguy’s point doesn’t stand.
Someone is always counting on the status quo.  We shouldn’t abandon societal progress because some folks will be hurt by rule changes.  Slave owners were counting on that labor.  Was the Emancipation Proclamation a mistake because folks who played by the previous rules were losers? 

 
Someone is always counting on the status quo.  We shouldn’t abandon societal progress because some folks will be hurt by rule changes.  Slave owners were counting on that labor.  Was the Emancipation Proclamation a mistake because folks who played by the previous rules were losers? 
I don’t disagree.  Progress is great.

How is it considered “progress” to randomly wipe away the debt of a subset of people?

 
Someone is always counting on the status quo.  We shouldn’t abandon societal progress because some folks will be hurt by rule changes.  Slave owners were counting on that labor.  Was the Emancipation Proclamation a mistake because folks who played by the previous rules were losers? 
I mean if you're middle class and the status quo is the difference in thousands of dollars--that's a pretty big deal.  

Comparing a tax deduction to slavery seems a bit extreme.

 
Someone is always counting on the status quo.  We shouldn’t abandon societal progress because some folks will be hurt by rule changes.  Slave owners were counting on that labor.  Was the Emancipation Proclamation a mistake because folks who played by the previous rules were losers? 
I don't think people who voluntarily take out student loans, which average about $30K, are in any way similar to slaves.

Abolishing slavery was a good thing because slavery was immoral.  There's nothing obviously immoral about people borrowing money to finance their education as a means of improving their lot in life.

 
Virtually every law.  But as one example I’ll say the mortgage interest deduction because it seems sorts analogous.  “I did the right thing and paid off my whole house, why does that guy get to deduct from his taxes just because he spent money on other stuff instead?”
It's the retroactive aspect of this that rubs people the wrong way.  For full disclosure, I've always thought the home mortgage interest deduction was preposterous, but I benefited from it for a number of years.  Since then, I've bought a new home with cash.  None of that should really matter, but I'll put it out there in case it does for some folks.

The interest deduction was there for a long time.  People who bought their home did so knowing that it existed.  They made their purchase-outright vs borrow decisions accordingly.   Likewise, there have always been a limited assortment of student loan forgiveness programs, like for people who agree to teach K-12 in under-served areas.  Nobody has a problem with those because they were part of the rules of the game going in.

Retroactive loan forgiveness is different because people who pay back their loans are out their full obligation, while people who don't get a significant windfall.  The better analogy would be if the government suddenly forgave home mortgages altogether.  People who scrimped and saved to pay off their mortgages on time would understandably be pissed.

 
What about people that refinanced?  I went from 12 loans with interest rates allover the place.  Consolidated and refinanced with a private company.  And I'm guessing the Senator is going to say that's just too bad.  

And I'm not the only one.  Companies like Sofi, Laurel Road, Credible, and Earnest have taken off over the last several years.  But if you were being smart--refinanced for a lower interest rate--you're not going to get the benefit here.  Should have rode out the ol' 6.5% a little longer.  

 
Tough question for her to answer in a way that would mollify the dad.  Props to her for just saying "of course not" rather than palavering.

I still don't like her, and I of course still dislike the loan forgiveness push.

 
Sure, I understand the arguments why it might not be good policy.  But @stlrams seemed to be questioning how this could help her politically.  And it seems to me that a lot of voters might like having their student loans wiped out or at least lessened.
'A lot of' or 'enough to win election.' There is a rather substantial and meaningful difference between the two.

 
'A lot of' or 'enough to win election.' There is a rather substantial and meaningful difference between the two.
It's hard to isolate one particular policy and say that's the thing that won or lost an election.  I think overall, my guess is that student loan forgiveness is a positive politically, particularly in the Democratic primaries.  Warren seems to have been fading in the polls lately so unless something changes it probably isn't enough to win an election.

 
Sure, I understand the arguments why it might not be good policy.  But @stlrams seemed to be questioning how this could help her politically.  And it seems to me that a lot of voters might like having their student loans wiped out or at least lessened.
The counter argument is that for everyone that likes having their student wiped clean there are more people that feel alienated because they saved or paid off their student debt.  Who doesn’t like not paying for something or getting it for free?

 
Because a lot of people are struggling with student debt they can't pay?
A lot of people aren’t living responsibly.

I took out A LOT in student loans.  My car is paid off and I didnt run out and buy a new one.  My cell phone is several generations past outdated.  But the loan people always get their money and more.

The problem persists despite this solution.  It’s a one time help.  Unless we decide to do it periodically.  And furthermore, it encourages kids to go to school with no skin in the game.

If you’re out 50,000$, you need to be motivated to get a degree.  Kids show up, party, and fail out by Sophomore year.  But we’re going to put a wealth tax on the rich to pay for the partying of today’s youth?

 
The counter argument is that for everyone that likes having their student wiped clean there are more people that feel alienated because they saved or paid off their student debt. 
Right, I am speculating that the group I described is bigger and will feel more positive about the policy than your group feels negative about it.  I haven't seen any data on this though, so I'm really just guessing.  

 
It's hard to isolate one particular policy and say that's the thing that won or lost an election.  I think overall, my guess is that student loan forgiveness is a positive politically, particularly in the Democratic primaries.  Warren seems to have been fading in the polls lately so unless something changes it probably isn't enough to win an election.
My bias may be effecting how I've been viewing this issue, but there seems to be quite a bit of support for student loan reduction. Depending on how it's structured I am somewhere between 'may' and 'probably will' support it. Elimination though? It's a bridge too far for me - and I assume most everyone right of me too.

 
And furthermore, it encourages kids to go to school with no skin in the game.
I work in higher ed - and sure it's just one small private college, but the difference in performance when evaluating those that don't pay anything vs. those that do...I mean, I expected a correlation, but not nearly as strong as what the data suggests. 

 
Right, I am speculating that the group I described is bigger and will feel more positive about the policy than your group feels negative about it.  I haven't seen any data on this though, so I'm really just guessing.  
So I saved $200 every month for college starting the day my kids were born has to pay for my neighbor who lives in 500k house, drives a bmw and is in debt to their eyeballs and who sent their kid to 65k year college and now works at Kmart?  Hmm that seems fair?

 
So I saved $200 every month for college starting the day my kids were born has to pay for my neighbor who lives in 500k house, drives a bmw and is in debt to their eyeballs and who sent their kid to 65k year college and now works at Kmart?  Hmm that seems fair?
I view a lot of other things about the way our country works as much more unfair than what you are describing. It's hard for me to get too worked up about someone that managed to graduate from college debt-free.  That person is better off than most.

 
I'm aware of the details, both in her plan and the supporting data - I think suggesting a number anywhere near $50K is ridiculous. If you accumulated that much debt that you cannot pay then it's because of your poor decisions. College has gotten too expensive, but average in-state tuition is about $10K...right now. Not 5, 10, 20 years ago - right now. The majority of people can fund their education for less than $50K without applying any funding towards their education until post-grad.

 
I'm aware of the details, both in her plan and the supporting data - I think suggesting a number anywhere near $50K is ridiculous. If you accumulated that much debt that you cannot pay then it's because of your poor decisions. College has gotten too expensive, but average in-state tuition is about $10K...right now. Not 5, 10, 20 years ago - right now. The majority of people can fund their education for less than $50K without applying any funding towards their education until post-grad.
Isn't that just for tuition?  Wouldn't a full time student need more than that for things like housing and food?

 
Isn't that just for tuition?  Wouldn't a full time student need more than that for things like housing and food?
Of course. And if you can't/won't pay for any tuition until after you graduate then that should heavily influence where you decide to go to school - both for living purposes and the cost of the school's you're deciding between.

 
I view a lot of other things about the way our country works as much more unfair than what you are describing. It's hard for me to get too worked up about someone that managed to graduate from college debt-free.  That person is better off than most.
But in that scenario we're stating that being out of college is time zero.  But in actuality starting college is.  

If you worked extra, saved, spent wisely, didn't invest, etc and your kid got out debt free--you've still spent the money and resources.  

The same money could have gone to something else.  They could have paid down their mortgage.  They could have saved it for an emergency.  They could have paid off a car.  They could have thrown it in a retirement account.  They could have invested it.  Many people argue if your returns in the market are 6-8% and your interest rate is 5%--you're better off investing anyways.  But they paid off the college bill.  And now you're telling them because they did and the other side didn't--the other side gets a free 50,000$.  That's not going to go over well when you say "at least your kid is debt free."

They probably spent time working extra in several cases.  They could have taken it easy.  They could have had more vacations.  They could have had more family time.  But they laced 'em up and went to work.  Because they didn't want their kid to be stuck with debt.  

Furthermore, what about the kids?  I was blessed with a mother that worked 2 jobs while I was in college.  I worked 15 hours a week at McDonalds so I'd have spending money.  But for bills/living, I could have not worked a minute in college.  I was able to get A's, get into grad school, and have done really well.  Many kids work much more than that.  And as a result their grades suffer.  Now you're going to say "Actually, you could have just not worked or worked much less."  Yeah, I can see how that isn't going to sit well.  

Being (college) debt free isn't some finish line where we all finish the 26.2 mile race and get the same medal. 

 
@MAC_32 and @jm192 -- thanks for the responses, I have a lot of stuff I'd like to say but I'm in the middle of some work stuff, will try to return to this later.  But just as a quick point of discussion -- why are we spending so much time talking about fairness to the parents when it's the kids who are getting their loans reduced or paid off?  Imagine the following hypo:

Kid A and Kid B go to the same school, get the same grades, go to the same college, same major, same grades, everything the same.  Kid A's parents pay for her entire tuition and living expenses.  Kid B graduates with $50K in loans.  Is that "fair" to Kid B?  That she should have 50K in loans just because her parents didn't have as much money as Kid A's parents?  How is that Kid B's fault?

I'll step out for a bit now but hopefully will return in not too long, I like this discussion.

 
@MAC_32 and @jm192 -- thanks for the responses, I have a lot of stuff I'd like to say but I'm in the middle of some work stuff, will try to return to this later.  But just as a quick point of discussion -- why are we spending so much time talking about fairness to the parents when it's the kids who are getting their loans reduced or paid off?  Imagine the following hypo:

Kid A and Kid B go to the same school, get the same grades, go to the same college, same major, same grades, everything the same.  Kid A's parents pay for her entire tuition and living expenses.  Kid B graduates with $50K in loans.  Is that "fair" to Kid B?  That she should have 50K in loans just because her parents didn't have as much money as Kid A's parents?  How is that Kid B's fault?

I'll step out for a bit now but hopefully will return in not too long, I like this discussion.
I think the fairness to the parents matter because parents are often involved in paying for college.  Many parents save/invest years in advance.  Most kids show up at 18, and while legally they're adults--they're anything but in terms of maturity.  My mom had to take out an extra partial loan to cover my expenses the first year.  I went to a medium sized public college.  And still, my parents had to be involved in the loans and the entire process.  

I get what you're saying in terms of the kids.  On the flip side--I think you're taking both ends of the extreme.  The rich kid and the poor kid whose parents just didn't have it.

In reality, most of it is much more in the middle. It's not just rich kids whose parents are paying off their college.  It's not just poor kids whose parents don't pay it.  

I did a lot of things wrong after getting out of school.  Most financial literacy experts say to live modestly until you're debt free.  I bought a new car.  I bought a house.  A lot of Americans don't.  A lot of Americans live modestly and frugally despite being able to afford a more lavish life style.  They do this for a number of reasons.  They want to accumulate wealth.  They want to retire early.  They want to be able to pay for their kids college. 

On the flip side, a lot of Americans don't.  A lot of Americans buy the big house they can barely afford.  A lot of Americans buy a new car everytime they turn around.  They buy a new iPhone or Android every-time it changes.  

There are kids born into millionaire families.  There are kids born into extreme poverty.  But the majority of the kids in the college discussion are in the middle.  And the financial choices their parents were making years prior to choosing a college matter.  And now Senator Warren is going to come in and say "Well, you could have had 50,000$ more but you chose to give it away by paying it off."

 
@MAC_32 and @jm192 -- thanks for the responses, I have a lot of stuff I'd like to say but I'm in the middle of some work stuff, will try to return to this later.  But just as a quick point of discussion -- why are we spending so much time talking about fairness to the parents when it's the kids who are getting their loans reduced or paid off?  Imagine the following hypo:

Kid A and Kid B go to the same school, get the same grades, go to the same college, same major, same grades, everything the same.  Kid A's parents pay for her entire tuition and living expenses.  Kid B graduates with $50K in loans.  Is that "fair" to Kid B?  That she should have 50K in loans just because her parents didn't have as much money as Kid A's parents?  How is that Kid B's fault?

I'll step out for a bit now but hopefully will return in not too long, I like this discussion.
For starters, any kid whose family doesn't have any money will be eligible for potentially tens of thousands in federal/state grants that a kid from the middle class-up can't get.

 
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Most of these debt forgiveness plans could work if phased in gradually. That might be the way a business person might think, though, and not be conducive to politicians or non-business people.

 
I’ve read Warren’s proposal multiple times, and the simple question I have is “what is the problem that Warren is trying to solve?”

Is she trying to reduce debt for folks with high, existing debt?  Is she trying to make college more sustainably affordable?  Is she trying to make access to high cost, “top-end” higher education more “equal” or “fair”?

I’m asking in complete sincerity.  I truly don’t understand which problem(s) she is trying to solve.  Which, of course, makes it somewhat difficult to evaluate her proposal.

 

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