RonJeremyCorbyn [none/use name]

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Joined 2 years ago
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Cake day: July 5th, 2022

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  • it's clearly less good than blanket forgiveness, but i don't understand how it could be ineffective at poverty reduction. anything under 30k, and the borrower will just never have to make payments and the debt eventually is forgiven. no interest accruing. this would allow kids the opportunity to go to college without worrying that they will become crushed by debt.

    i'm seeing a ~20k difference between alabama and nyc for new/low experience teachers (w/ nyc making 50pct more (61 vs 42k), so miss me with those numbers lol-- someone who is good at the economy please help me budget this: i'm spending 6000/month on candles and a lux studio appartment on the upper east side.









  • Okay, so I believe this is how it works: Discretionary income is a function of the poverty threshold, and the poverty threshold is a function of household income and size.

    The proposal will put the discretionary income threshold at 225% of the poverty threshold. If it's just the two of you, this results in discretionary income at anything over $44,370. So you would all would be paying 5pct of the difference between your net income and discretionary income. And if your net income is less than that $44,370 level, you pay nothing. And in any case no interest accrues, and loans are forgiven after 20 or 25 years of "payments" (no matter the principle).

    https://aspe.hhs.gov/topics/poverty-economic-mobility/poverty-guidelines