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Wealth Redistribution Under Obama

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[quote name='Anybodyhome' timestamp='1353767664' post='2013442']
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[size=4][font=verdana, geneva, sans-serif]Gee, it had been working in the UC system for over 100 years until Reagan got his hands on it. See, here's where reading some history may have actually benefited you in forming your opinion, but why let facts get in the way. [/font][/size]

[size=4][font=verdana, geneva, sans-serif]I was born and raised in Southern California and lived there until 1992. As my brothers and sister and I can attest, we're all very familiar with the UC system. [/font][/size]

[size=4][b][font=arial, helvetica, sans-serif][color=#333333]The Sixties were also a time when the [/color][url="http://lansingonlinenews.com/wp-content/uploads/2011/02/CORPORATE-TAX-RATES.pdf"]top corporate tax rate was 52%[/url][color=#333333] instead of today’s 35%, and the [/color][url="http://en.wikipedia.org/wiki/Income_tax_in_the_United_States"]top individual marginal income tax rate was 70%[/url][color=#333333], though that was still a bargain compared to the 94% charged on incomes above $200,000 during WWII.[/color][/font][/b][/size]

[url="http://lansingonlinenews.com/wp-content/uploads/2011/02/CORPORATE-TAX-RATES.pdf"][size=4][b][font=arial, helvetica, sans-serif][color=#333333]http://lansingonlinenews.com/wp-content/uploads/2011/02/CORPORATE-TAX-RATES.pdf[/color][/font][/b][/size][/url]
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You do understand the basic premise that tax payer funded education is not actually free don't you?

I imagine the situation with the college system in California is far more complex than you seem to think it is, but I did look up some information on it. [url="http://www.nytimes.com/1982/12/28/science/california-weighs-end-of-free-college-education.html"]Reagan[/url] didn't implement tuition for students in the california college system. He tried, but was defeated. He did implement some fees, which were relatively small. They did increase as time went along, but that was much later. And no governor since, republican or democrat has made any serious effort to eliminate them. California is a very blue state, yet the citizens of the state aren't willing to pay the taxes necessary to fund a no fee/no tuition system of higher education. If you want to blame someone for that, then you should blame the california voters, because its something they don't want. And Reagan did what the voters wanted him to do. Democracy sucks doesn't it.

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Everyone deserves everything. If my parents can afford to send me to Princeton, then by God all students should be allowed to go to Princeton. It's only fair.

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[quote name='Delhommey' timestamp='1353777543' post='2013562']
So how did you manage the $42k + a year that it takes to attend Wake Forest? Perhaps you can show the youth of today the debt free way.
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Didn't go to Wake Forest, just grew up a few miles from the campus and was a lifelong fan.

I went to college by spending my first two years in community college and then I transferred to a four year university. Also got some credit for military schools attended, plus some University of Maryland courses. Employer benefits paid the majority of my college fees. Worked days and went to school at night. Had to sacrifice quite a bit of family time since I was married, but ended with a degree and no college related debt.

Its not a path I would recommend, but it worked out for me. By not recommend, I mean its best done when young, trying to do it while married with children is not easy.

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Again no one will address the fact that this is about a reduction to the burden to the taxpayer being blocked in favor of bondholder profiteering.

Taxpayer wealth (largely middle-class) is being redistributed to bondholders (usually upper class) through the government and no one raises an eyebrow.

Yeah. Conservatives are alllllll about reducing spending and taxes and helping the middle class.

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[quote name='Davidson Deac II' timestamp='1353778014' post='2013572']


Didn't go to Wake Forest, just grew up a few miles from the campus and was a lifelong fan.

I went to college by spending my first two years in community college and then I transferred to a four year university. Used employer benefits to attend college while I worked. Worked days and went to school at night. Had to sacrifice quite a bit of family time since I was married, but ended with a degree and no college related debt.

Its not a path I would recommend, but it worked.
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Good way to go. I got a scholarship and worked summers and nights.

That was back when college was at least affordable though. College of Charleston in state now cost more than did to go to Harvard back just 10-15 years ago, and wages sure as hell haven't kept up.

$80,000-$100,000 for a state school? I think it's pretty naive to say my generation would have handled that any better than the current one.

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[quote name='Delhommey' timestamp='1353779043' post='2013585']
Good way to go. I got a scholarship and worked summers and nights.

That was back when college was at least affordable though. College of Charleston in state now cost more than did to go to Harvard back just 10-15 years ago, and wages sure as hell haven't kept up.

$80,000-$100,000 for a state school? I think it's pretty naive to say my generation would have handled that any better than the current one.
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Cost in North Carolina hasn't risen as much I think. Its about 60 grand more or less to attend one of the State schools. I have been looking into it for my son who will be going in three years.

I do agree with the article that the feds have mismanaged college loans to a great extent, and banks have taken advantage of that. With interest rates so low, I am not sure while federally backed college loans are at 6-8% interest. My car loan rates are cheaper than that, and they are less secure.

But I am not convinced that Senator Brown's bill would fix the problem though. As [url="http://higheredwatch.newamerica.net/blogposts/2009/is_student_debt_swap_bill_a_free_lunch-24171"]this[/url] article points out, some of the CBO's budget projections could be problematic.

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[quote name='Davidson Deac II' timestamp='1353777779' post='2013567']
You do understand the basic premise that tax payer funded education is not actually free don't you?

I imagine the situation with the college system in California is far more complex than you seem to think it is, but I did look up some information on it. [url="http://www.nytimes.com/1982/12/28/science/california-weighs-end-of-free-college-education.html"]Reagan[/url] didn't implement tuition for students in the california college system. He tried, but was defeated. He did implement some fees, which were relatively small. They did increase as time went along, but that was much later. And no governor since, republican or democrat has made any serious effort to eliminate them. California is a very blue state, yet the citizens of the state aren't willing to pay the taxes necessary to fund a no fee/no tuition system of higher education. If you want to blame someone for that, then you should blame the california voters, because its something they don't want. And Reagan did what the voters wanted him to do. Democracy sucks doesn't it.
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Ummm, the education system in every state is taxpayer funded from K-12 grades. Are you against taxpayer funded education systems in general? If so, how exactly would you propose putting your kids through the public school system?

The system worked in California for 100 years because corporate tax rates were where they should be relative to their profits, because people paid income taxes based upon what their income was. Reagan was the forefather of the the rich getting richer and the end of those rich paying their fair share of income taxes. It's a pretty easy concept- when corporate taxes and income taxes were an equitable system the state of California flourished and it's higher education system did as well as it's K-12 system.

The utter collapse of the public education system in this country can be directly attributed to the reduction of corporate tax rates and the increasing tax breaks for the rich. It is a simple premise, you're right.

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[quote name='MadHatter' timestamp='1353589863' post='2011905']
So I guess actually being responsible for paying money back when you borrow it is "folksy".

Unlike your generation....which seems to believe that someone else is responsible for your debt.
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Cue the 'learned it by watching you' PSA. Who would have thought kids growing up in the 80s and 90s didn't get good lessons in managing debt? The baby boomers sure did a great job with their borrowing practices.



Baby boomer: study hard so you can get into a good college and make something of yourself
Kid: Okay

Baby boomer: just take this student loan, you'll get a good job with a degree
Kid: Okay

Baby boomer: get a job slacker
College grad: your generation tanked the economy, I can't get a job
Baby boomer: damn entitled kids, think they just deserve a job...pay back your loans kid, papa needs to retire
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[quote name='gospodin shuttlesworth' timestamp='1353761624' post='2013403']

lol not a single one of these fuging republicans actually addressed FFELP or sherrod brown's legislation. 16 replies. not one.
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i'm not a republican but i posted this earlier and perhaps it went way over your head. i mean like WAY over.

Pell derivs FTL.

in 2 words and a huddle favorite axiom i responded and broke it all down.

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Vanilla wafers.

Two words. Over ALL your heads. I win. Suck it!

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not really. tranches i know. basically they turned alot of these into what they did with mortgages. slice some and sell to others then bet against some of those slices to hedge.

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[quote name='FurdTurgason' timestamp='1353772417' post='2013499']
Everything should be free. Imagine no possessions.
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As socialists have explained it to me, property rights don't exist because property is a human abstraction and, if society can create the idea of property, then society is justified in taking your property away.

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