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[–] 10 points 1 year ago

Trump doesn’t pay his debts, why should anyone else?

When the choice is rent and food or paying a loan, guess which wins out most of the time.

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  • 13 comments in c/news@lemmy.world view that post
    [–] 77 points 1 year ago (4 children)

    Even if they can afford to pay them, why would anyone want to? What would our president do? Why should anyone give a shit about doing the “right” thing when the people running our society, government, and financial institutions are raping and pillaging the decades of stability and good will that was guiding the decision to get those loans in the first place??

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  • [–] 23 points 1 year ago (3 children)

    Unfortunately the student loans fall into a category of you're fucked, so the government can make deductions from people's paychecks automatically without them having a say. So a teenager can sign themselves up for mountains of debt, fuck their credit for possible decades and wind themselves up stuck in an economy where they can't find a job in their field and can't pay back their loans so they are stuck doing entry level work in a field they don't want to be in, with minimal money to show for it as the money is taken out beforehand. So maybe they can start a 30 year mortgage on their first house when they are 55, work till 75 and if they are lucky pay it off early so it doesn't get confiscated by the bank and all equity gone so they can't afford retirement and nothing passes down to their kids but the debt of paying for their funeral.

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  • [–] 8 points 1 year ago (2 children)

    Stop taking jobs that report taxes too! Cash for the rest of your life, problem solved. /s

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  • [–] 4 points 1 year ago (1 child)

    I only accept payments in burritos

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  • [+] 4 points 1 year ago* (last edited 1 year ago) (1 child)
  • Thanks, now I'm picturing a dancing bear holding old bananas up to objects on the street.

    Hands coworker a banana, measure that side of the Tesla frame to 33 bananas and cut it there.

    "Are you sure the panels will line up after?"

    Of course man, all bananas are the same.

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  • [–] 73 points 1 year ago (2 children)

    What are they supposed to do? Come up with money they don't have? Not pay rent? Not buy food?

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  • [–] 32 points 1 year ago (4 children)

    Why is this cross-posted to uplifting news? What exactly is uplifting about someone who cant afford groceries, and rent, let alone their student loans?

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  • [–] 28 points 1 year ago (3 children)

    It's uplifting in that there's so many people prioritizing not paying these predatory loans, there's no realistic way to prosecute them all. It's like a rent strike, but massive.

    ... at least that is my interpretation.

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  • 4 comments in c/usa@midwest.social view that post
    [–] 13 points 1 year ago (3 children)

    Trump doesn’t pay his debts, why should anyone else?

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  • [–] 2 points 1 year ago (2 children)

    Because he could just declare bankruptcy--only suckers without connections have to take out loans that Biden led the charge on--hand-in-hand with conservatives to make the debt non-dischargeable even in bankruptcy.

    Conservatives only give tax breaks to the wealthy and cut actual government the poors all need, but NAFTA and the college debt bill were two of the most broadly damaging economic mobility bills passed in the last 30 years. Clinton passed NAFTA.

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  • [–] 11 points 1 year ago (1 child)
    1. 1976 – Congress first restricted bankruptcy discharge for federal student loans.
      • Loans couldn’t be discharged during the first 5 years of repayment unless the borrower could prove “undue hardship.”
      • Passed during President Gerald Ford’s term (Republican).
    2. 1990 – The waiting period was extended from 5 years to 7 years.
      • Signed by President George H. W. Bush (Republican).
    3. 1998 – The 7-year rule was removed entirely for federal loans, meaning they could only be discharged under “undue hardship” no matter how old the loan was.
      • Signed by President Bill Clinton (Democrat).
    4. 2005 – Private student loans were also made non-dischargeable in most cases (same “undue hardship” rule).
      • Part of the Bankruptcy Abuse Prevention and Consumer Protection Act, signed by President George W. Bush (Republican).

    Sounds like “all of them”

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