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I just paid my taxes. Biden's pandering on student loans will end up costing us all more.

The basic return is easily done by a novice.

Our nation does not (for better or worse) operate on a pay as you go. Monetizing debt is the way and IS a too to even out the economy except when abused (like in 2009 and COVID).

Per farmers, the most recent "bad crop" payments were in 2012. Otherwise it was trade war payments or COVID Econ payments couple with PPP loans.

Many of us didn't attend college under current economics. Paying for college has become very difficult. That said, the quality of education has gone down and the returns for a degree have gone down.

None of us on here (well very few) could come close to ever paying "our fair share" of the Govt expenses for police, defense, EPA protections....and on and on.

We have all taken advantage of infllation and so forth. Mild inflation to the conservative is traditionally a sign of a good economy.
My taxes would be amazingly simple not for my small business and even then it's not terrible.

Some of you probably do have some complicated taxes (estate settlements and complicated business structures).

What has changed is that you really can't call the IRS anymore. Turbo Tax type programs/advice actually work pretty well, but occasionally you get a bad advisor.
FASFA is much more difficult than taxes and even that is better.

About 12 years ago I had a nightmare situation with the IRS over adoption credits. There were 2 sets of questions/audits coming from 2 different offices. I got 12k reduced down to 60 bucks which I paid not because I was wrong, but at that point it wasn't worth taking 3 hours to respond.

The Trump tax changes actually cost me due to having a large family and credits changing.

If anything, college age people and a bit older are being shut out of the system of prosperity. We need to do something. Not sure free ride is the way to go, but it has to be reasonable.
 
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The basic return is easily done by a novice.

Our nation does not (for better or worse) operate on a pay as you go. Monetizing debt is the way and IS a too to even out the economy except when abused (like in 2009 and COVID).

Per farmers, the most recent "bad crop" payments were in 2012. Otherwise it was trade war payments or COVID Econ payments couple with PPP loans.

Many of us didn't attend college under current economics. Paying for college has become very difficult. That said, the quality of education has gone down and the returns for a degree have gone down.

None of us on here (well very few) could come close to ever paying "our fair share" of the Govt expenses for police, defense, EPA protections....and on and on.

We have all taken advantage of infllation and so forth. Mild inflation to the conservative is traditionally a sign of a good economy.
My taxes would be amazingly simple not for my small business and even then it's not terrible.

Some of you probably do have some complicated taxes (estate settlements and complicated business structures).

What has changed is that you really can't call the IRS anymore. Turbo Tax type programs/advice actually work pretty well, but occasionally you get a bad advisor.
FASFA is much more difficult than taxes and even that is better.

About 12 years ago I had a nightmare situation with the IRS over adoption credits. There were 2 sets of questions/audits coming from 2 different offices. I got 12k reduced down to 60 bucks which I paid not because I was wrong, but at that point it wasn't worth taking 3 hours to respond.

The Trump tax changes actually cost me due to having a large family and credits changing.

If anything, college age people and a bit older are being shut out of the system of prosperity. We need to do something. Not sure free ride is the way to go, but it has to be reasonable.
One thing that got included in the irs funding Biden got thru was more money for people on the phones, so response times got much better.
 
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the thought that student loan forgiveness - OR any government action or cost - will "cost us more" hinges on the idea that we'll ever raise taxes in an effort to pay off the national debt

does anyone really think that's going to happen?
 
the thought that student loan forgiveness - OR any government action or cost - will "cost us more" hinges on the idea that we'll ever raise taxes in an effort to pay off the national debt

does anyone really think that's going to happen?

The holders of these loans will have to be made whole now,.. If you're suggesting that we don't need to ever be concerned about the size of the national debt, or ever paying it off then why should we continue collecting taxes?...
 
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the thought that student loan forgiveness - OR any government action or cost - will "cost us more" hinges on the idea that we'll ever raise taxes in an effort to pay off the national debt

does anyone really think that's going to happen?
I guess the other part to me, is that the sooner they’re done paying off student loans, the sooner they can spend that newly disposable income on stuff and help the economy.
 
I guess the other part to me, is that the sooner they’re done paying off student loans, the sooner they can spend that newly disposable income on stuff and help the economy.
Housing and medical costs are the bigger issues.

Reducing cap gains and estate taxes help make housing less affordable and now we have a shortage that won't easily be made up (housing). Younger people have to compete with AirBNB and others.

Medical costs are going to require a complete revamping of the medical system away from big pharma and a look at staying healthy (incentives away from sugar and addictive ingredients) and a food supply that doesn't mess up intestinal health and hormones.

I have had (or still have) 6 kids in college. I have NO DOUBT the system has had standards lowered to keep attracting students (making degrees easier) and it has really dropped the past few years. Regional schools like Truman State/other MO regionals) and IL schools like Westen/Eastern/SIU are almost ghost campuses and it's not all just online students. Iowa Wesleyan closed as will other privates.

We also have to make a societal decision on raising kids in daycare (which is now all preschool) or a parent taking care of kids. People without kids in daycare have no idea the combat zones that these preschools have become with child and adult behaviors.

I"m glad my kids are mostly raised. Couldn't imagine it now. Buying cars? whew.
 
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You do realize Diapers Joe could extend them if he really cared about middle class taxpayers?
Yep…..but NOT “he”…..It takes Congress to do that work. We STILL have a Constitution all democracy Rico with “checks and balances” of power still in place……The dictatorship you reference here was unsuccessful back in January of 2021….
 
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Yep…..but NOT “he”…..It takes Congress to do that work. We STILL have a Constitution all democracy Rico with “checks and balances” of power still in place……The dictatorship you reference here was unsuccessful back in January of 2021….
The House would approve it in a minute.
 
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But I was told multiple times on here that college graduates are so much smarter than non college graduates and they keep moving away from iowa.
I mean they did figure out how to get some idiot to pay off their remaining loans.
 
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That's the debt,.. I'm just talking about collecting the amount of taxes required to match what we are spending,.. Paying down the debt would be a even bigger task...
If we could just balance the annual budget the national debt would shrink as a proportion of GDP just because of GDP growth and inflation.

Seems impossible as we're posting $T+ annual debt year after year at this point. We're probably screwed until austerity measures are forced upon us...
 
If we could just balance the annual budget the national debt would shrink as a proportion of GDP just because of GDP growth and inflation.

Seems impossible as we're posting $T+ annual debt year after year at this point. We're probably screwed until austerity measures are forced upon us...

We're definitely screwed,.. All I was attempting to do by suggesting that for a single year we actually collect 100% of what we spend, was to shock US taxpayers into understanding just how impossibly out of control our spending is,... It's hard to appreciate how much we spend when the government continues to operate a revolving line of credit in our name...
 
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If we could just balance the annual budget the national debt would shrink as a proportion of GDP just because of GDP growth and inflation.

Seems impossible as we're posting $T+ annual debt year after year at this point. We're probably screwed until austerity measures are forced upon us...
Clinton found a way to “balance budgets” that worked……His “pay-go” guard entered any “new” budget items were paid for/offset with an appropriate tax increase….not via “income taxes” but mostly based on “user fees”….It worked for him for a number of years and it appeased. The RTepubbers, too…..However, the moment Bill left Washington, Junior and Newt went to town and abandoned Clinton’s tax rates and his “pay-go” idea……and never to return to fi=scal responsibility,,,,,
 
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Clinton found a way to “balance budgets” that worked……His “pay-go” guard entered any “new” budget items were paid for/offset with an appropriate tax increase….not via “income taxes” but mostly based on “user fees”….It worked for him for a number of years and it appeased. The RTepubbers, too…..However, the moment Bill left Washington, Junior and Newt went to town and abandoned Clinton’s tax rates and his “pay-go” idea……and never to return to fi=scal responsibility,,,,,

Bill Clinton was mostly lucky,.. Things like .com economies and women's faces tended to fall into his lap...
 
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