Dragonfly Knot
Robert ReichEver notice how forgiving loans is suddenly a big problem when students get much-needed relief, but nobody blinks an eye when the richest 20% of American households get their PPP loans forgiven? Or when corporations are handed billions in subsidies?
Stan R. Mitchell@rbreich This is VERY true. š¬ š©
ferricoxide@rbreich How can you question giving job-creators a leg up?
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Sperou@rbreich Rules for thee and not for me is a classic āround these parts.
Wendy Lady@rbreich yeah. I noticed.
Kiss.My.Grits šŗš² + š§ + ā½@rbreich That's the American way! Bailout the "job creators" and the spoils will trickle down to us plebs.
SFborn1940@rbreich This is a result of a country run for the benefit of business and corrupted by a Republican Party who is loath to forgive student loans or provide affordable healthcare for all.
And we wonder why there is a hatred of Congress.
And we wonder why there is a hatred of Congress.
S.@rbreich I was thinking the same thing. Itās quite a leap to deny marginalized populations affordable access to #highereducation and #studentloanforgiveness but #ppploanforgiveness is somehow a nonissue. Iām willing to argue the amount of #ppploans dispursed to businesses that didnāt need, or didnāt use them for their intended purpose, could handily cover the price tag of #studentloanforgiveness.
Louis Ingenthron@rbreich Funny, I seem to remember people being mad at all three of those.
Anvil of Truth@rbreich Funny my PPP loan wasnāt forgiven, I paid every fucking cent back. Guess Iām not rich enough for loan forgiveness. Republicans are criminals
Coyoty@LawrenceShop @rbreich You're not Republican. That's the difference. Your wealth is secondary.
RegisterandVote@rbreich Or corporate bankruptcies? Just was reading Romneyās comment about student loans and remembered this:
https://www.seattletimes.com/seattle-news/politics/romney-a-mixed-record-on-bankruptcies/
https://www.seattletimes.com/seattle-news/politics/romney-a-mixed-record-on-bankruptcies/
Rob HoneycuttWhy are we Dems so bad at delivering this message?
Marius Fortuna_3@rbreich Or when investment banks that operated a sophisticated mortgage back security ponzi scheme are bailed out by the government.
DougGlassArt@rbreich average student loan debt per person is $36,510, and the loan balance for students who completed research doctorate degrees, such as Ph.D. $108,400. total student loan debt sits at 1.75 trillion; a small tax on all Stock, Bond, and Derivative trades, would wipe out student loan debt over ten years. Want to make America great, wipe out student loan debt, and give a fair chance to start families and businesses to drive our economy. It's simple math, of course; the elite will disagree. ššš
freeluna@rbreich thatās because in debt students canāt buy there own representatives and senators. But also, a college education is absurdly expensive these days. IMHO, we need alternate, cheaper, educational paths that are of equal value to a college degree. And, most importantly, employers need to stop using college degrees as a filter for employment, and accept alternative educational paths as relevant. This will especially be a problem as AI tools are used to filter job applicants.
@billclawson @rbreich We already do have that. They're called trade schools. And some businesses are so desperate for skilled workers, they'll even pay you to go to these schools, if you work for them after.
But for some reason, most Americans seem to feel like they're too good for such solutions. š¤·āāļø
Pamela Ehn@cadenza Well, sure, but that applies to everything in life, including college; what's your point?
@LouisIngenthron you made a statement saying that Americans donāt want to go to trade school, that they think they are too good for it. That statement is problematic for several reasons: 1. Itās not true. To the extent that college has been favored over trade school is due to parents pushing college as the ONLY way to be successful. Disillusioned millennials are now giving trade school a new look. 2. Trade school can also be expensive and out of reach of many. 3. Yes, the trades are great. But as I said, not everyone can go into the trades. They arenāt exactly friendly to disabled people (or rather, they are beyond the capacity of many disabled people) so a college degree to become a knowledge worker is a better choice.
Dan Bocain@rbreich New York hands over 200mil in subsidies to the horse racing industry, gambling money that should be funding education.
It's bad all over.
MrTChace 
Of bankruptcy.
šøPookaš„BoošøBiden needs to do something decisive and out-of-the-box. I would ignore SCOTUS and go ahead and do the debt relief. What is SCOTUS going to do; absofinglutely nothing. They have no enforcement mechanism to stop it.
KCMO Geek@lednabm @rbreich oh we really don't want Biden going down that path. If a Democrat President were to go against a Supreme Court ruling to do something beneficial like student loan relief I can only imagine what horrible things a Republican President would then be willing to do in violation of Supreme Court rulings. Do not set that precedent.
@lednabm @rbreich we have yet to see a sitting President, of either party, violate a ruling against them by the Supreme Court. It is a precedent that should not be set. The Republican party already has plans to consolidate power in the executive branch. We do not want to give them the ammunition to decide that the executive branch cannot be held accountable by the judicial branch. Can you imagine what a Republican President could do to this country if they believed that power?
marca56@rbreich More than that, guess who's funding these PPP loans and subsidies? We are! This is an unconscionable redistribution of wealth akin to a grift only available to rich people that don't need it.
Computeforloot 
@rbreich itās all crap
Kevin RussellPoverty is imposed, just like this.
If you ever felt low esteem because of income or poverty or judged others thinking poverty is a gauge of character, you have been fooled by professionals.
The corrupt Supreme Court just imposed hundreds of billions in costs that rich white men wont be saddled with
Tim W RESISTS
TootUncommon@rbreich
"But Andrew Lautz, director of federal policy at the National Taxpayers Union Foundation, told VERIFY that PPP loan forgiveness and student debt relief is ānot quite an apples to apples comparison.ā
PPP was designed by Congress to be forgiven; student loans were not (unfortunately).
āI think one important thing to keep in mind is Congress designed PPPā¦as a loan program. But really, they designed it as a loan that would pretty much be automatically forgiven, as long as companies kept workers on their payroll,ā he said."
Itzme2@rbreich Or when taxpayers have to bail out big banks with no conditions whatsoever.
Melody Cooper@rbreich No surprise at all. Thatās how the system is designed.
Kris Samsel@rbreich Congressional members dipped into PPP. Why isnāt that, against the law? DOD lost Trillions of dollars! Corrupt capitalism must be front and center.
It is modern capitalism...privatise the profits and socialise the losses...
Ashton Black@rbreich You know as well as I do, Robert. This is a feature, not a bug.
mÉnDroid
Aviva Gary@rbreich I sure have...
swggrkllr3rd
Lee š@rbreich
Republicanism = Hypocrisy
Republicanism = Hypocrisy
BrooklynEd@rbreich
..or when Republican states get more federal than they pay. Or when business profits from taxpayers making up for them paying slave wages with EBT, and then tell you it's socialism so you elect them and rise and repeat
..or when Republican states get more federal than they pay. Or when business profits from taxpayers making up for them paying slave wages with EBT, and then tell you it's socialism so you elect them and rise and repeat
@rbreich Ever notice? Why yes, daily! Thanks for askingā¦
Midwest Bob@rbreich Students usually canāt buy politicians that early in life.
@rbreich Reagan took money from low income people and gave it to high income people.
rlm1966@rbreich
I agree with your logic but I imagine we disagree about the correction. I don't believe any loans should have been forgiven and I don't believe corporations should get subsidies. I also don't believe that taxpayers should cover student loans and even if that was desirable I would suggest that first you need to fix root issues here or soon it will be another round of loans forgiven using taxpayer funds.
I agree with your logic but I imagine we disagree about the correction. I don't believe any loans should have been forgiven and I don't believe corporations should get subsidies. I also don't believe that taxpayers should cover student loans and even if that was desirable I would suggest that first you need to fix root issues here or soon it will be another round of loans forgiven using taxpayer funds.
HawkeyeGirl For Harris/Walz@rbreich Also, many have paid back much more than they borrowed already. My son is still paying after almost 20 years. I think his interest rate is 7+%. Forgiveness of these loans would boost the economy, obviously, as their money would go to goods and services.
@rbreich still remember a popular YouTuber getting the PPP loan & then rubbishing the same government that gave it to him. He's since moved his business to Texas to avoid paying his fair share of tax.
These morons actually believe the country owes them something for exploiting worker rights & conditions. Apparently employees should be willing to work 12 hours a day at shitty wages & be thankful for having a job. #elonmusk #twitter
These morons actually believe the country owes them something for exploiting worker rights & conditions. Apparently employees should be willing to work 12 hours a day at shitty wages & be thankful for having a job. #elonmusk #twitter
Charles J Gervasi ā”š”ļøš„„@rbreich PPP was intended to be a grant to keep people on payroll through the shutdown. They didn't have time to figure out who qualified, so they structured them as "loans" that they would forgive to all who qualified, once they worked out a qualification system.
By your reasoning, their doing that means all loan aren't real and shouldn't be given or repaid.
By your reasoning, their doing that means all loan aren't real and shouldn't be given or repaid.
motie@rbreich I hate how the rich have brainwashed people into thinking that help for the little guy is a handout and is evil and shameful, while help for the rich is an āincentiveā and part of a healthy capitalist society.
RenƩe@rbreich I'm reading Thom Hartman's book on corporatism right now and am very impressed by the fact that the original concept of the corporation was a government granted limitation of liability. From the very beginning hundreds of years ago, the invention of the corporation was predicated on being shielded from bearing full costs of doing business.