Take the current 401k limits and let people choose between paying down debt or investing in 401k.
Why not allow people to pay student loans and mortgage debt pretax?
- Thread starter General Tso
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I think service is one of those things that sounds good in concept, but in reality not sure its the best thing.
military required service? not gonna happen
Some other type service like an american based peace corp? Not sure having highly skilled college grads working on highway potholes or teaching in schools for two years leaving them with turnover and continuity problems is the way to go either.
401k defers tax. Not the same as what you seem to be describing.
And no. College students and home owners don’t deserve a subsidy. People also don’t need more excuses to dump money into homes they can’t afford and overpriced education.
And no. College students and home owners don’t deserve a subsidy. People also don’t need more excuses to dump money into homes they can’t afford and overpriced education.
I wouldn't make it mandatory in any way. I'm not for compulsory service, but giving people options to get an education they can't afford? Absolutely. I would include things like agreeing to teach in poor areas for X years in exchange for a BA in Education and other programs.
you misunderstood.
There are two basic fields of "service." One is military, not going to fly. So you can rule that out. Your other sentence is what I am getting at. Yes, teach X years in a poor area sounds great, on paper. But in reality you're going to have a majority who teach there for 2 or three years and then bolt. That means every three years a HS is going to be training a new group of teachers. You are going to have people that aren't invested in the school or the kids. Not sure that is doing that school any favors other than just sticking a warm body baby sister in a room. That's why I worry the idea of "service" to be one that is a paper idea, not the best in reality.
Last i checked these items weren't in the news constantly about the government trying to figure out ways to soften the impact of these items on millennials. (I'm not a millennial, to clarify)
However, I do not believe having new blood injected every 3-4 years into any field....especially one as volatile as teaching, is a bad thing. Bureaucracies...and education is certainly one of them, don’t like the light being focused on them.
There are literally hundreds of ways we could set up service....but to the teacher example, it's not like a school is going to go hire 45 teachers, then in 3 years everyone is gone and they hire 45 more. No, it would be more like a certain percentage of their teachers are part of this program and there are new faces ever year on a rolling basis.
Except we set up the millennials to fail. The self absorbed baby boomers are gobbling up wealth, resources, etc and not paying into things like Medicare, infrastructure, etc. Meanwhile we are raising the cost of tuition, increasing the wealth gap, not improving the working wage. This all has the impact of increasing debt and economic instability for the future.
These universities have quite the racket going I must say. Ever rising tuition funded by government subsidized loans for a degree that may or may not even qualify you for a job capable of paying back the loan. Meanwhile immigrants are the only people that will take the jobs that are vacant because the citizens are busy getting subsidized college degrees that may or may not produce taxable income.
So the Boomers did it right in regards to wealth, good for them. So you are saying they didn't pay taxes? I would beg to differ. The working wages are out there if people want them. The lack of skilled labor is astounding, my company can't find enough machinists, laborers and assemblers even with a starting wage of 15 per hour without any experience whatsoever. Experienced staff are starting at over $20. The money is out there.
As long as you tax capital gains and company benefits as pay (to close the super rich loopholes) and don't allow deductions, I am in.
So the generation sandwiched in between you two whiny groups gets to pay double duty for those older than us and those younger than us? Screw that. You millennials can suck it up just like the rest of us.
Why should we subsidize debt service?,... If you are a citizen you should pay taxes,... If you are citizen with debts you should pay your debts....
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