WWTBAM Bored

jarnon wrote: ↑

Fri Jun 30, 2023 5:28 pm

It would have been a helpful plan, especially for students (of all races) who couldn’t earn a degree since it’s harder for them to repay their loan. Too bad the plan didn’t pass muster with the Supreme Court.

Bob78164 wrote: ↑

Fri Jun 30, 2023 5:34 pm

jarnon wrote: ↑

Fri Jun 30, 2023 5:28 pm

It would have been a helpful plan, especially for students (of all races) who couldn’t earn a degree since it’s harder for them to repay their loan. Too bad the plan didn’t pass muster with the Supreme Court.

"The law, in its majestic equality, forbids rich and poor alike to sleep under bridges, to beg in the streets, and to steal their bread."

Thanks to historical circumstances far too well known (except to the willfully blind) to belabor, those in this situation are far less likely to be white than to be persons of color. --Bob

Beebs52 wrote: ↑

Fri Jun 30, 2023 5:56 pm

https://theculturalmagazine.com/2021/12 ... esquieu-2/

Bob78164 wrote: ↑

Fri Jun 30, 2023 6:02 pm

Beebs52 wrote: ↑

Fri Jun 30, 2023 5:56 pm

https://theculturalmagazine.com/2021/12 ... esquieu-2/

No one (at least, no one with any real influence) is advocating for equality of outcomes. The key is equality of opportunity. Which does not currently exist for historical reasons too well known (except by the willfully blind) to belabor. --Bob

Beebs52 wrote: ↑

Fri Jun 30, 2023 6:09 pm

Bob78164 wrote: ↑

Fri Jun 30, 2023 6:02 pm

Beebs52 wrote: ↑

Fri Jun 30, 2023 5:56 pm

https://theculturalmagazine.com/2021/12 ... esquieu-2/

No one (at least, no one with any real influence) is advocating for equality of outcomes. The key is equality of opportunity. Which does not currently exist for historical reasons too well known (except by the willfully blind) to belabor. --Bob

You're wrong, so there's that. You THINK it doesn't exist. It may not have 70 years ago, but bashing down perfectly equipped people with pseudo victimhood is evil. What's the dem agenda with that?

themanintheseersuckersuit wrote: ↑

Sun Jul 02, 2023 5:32 am

https://theintercept.com/2020/01/07/joe ... ent-loans/

The Ivies added $48.6 billion to their endowments this year, and new estimates show their collective endowment could exceed $1 trillion by 2048.

Organized as charitable non-profits, the Ivy League is a cash generation machine. Their collective endowment now stands at approximately $192.6 billion, which is up from $144 billion in 2020.

Now, critics are questioning whether the Ivies have gamed the federal, state, and local tax systems to operate as educational charities. These schools pay little or no taxes on their investments, endowment gains, and property.

Here are the new endowments by school: Harvard ($53.2 billion), Yale ($42.3 billion), Princeton ($37.7 billion), UPENN ($20.5 billion), Columbia ($13.5 billion), Cornell ($10 billion), Dartmouth ($8.5 billion), and Brown ($6.9 billion).

Harvard’s endowment now stands at over $10 million per undergraduate student. Yale is just shy of this number at $9 million. Brown, far behind its colleagues, boasts just over $1 million in endowment assets per undergrad student.

However, the Ivies billion-dollar optics problem is soon to become a trillion-dollar optics problem. The size of their endowments is set grow substantially over the next couple of decades.

Our auditors at OpenTheBooks.com forecast that the collective endowment of the Ivy League could surpass $1 trillion by 2048. This buildup of wealth for supposedly charitable educational purposes will trigger a host of public policy, legislative, and legal arguments. For example, Harvard alone could have $300 billion, or nearly $60 million per undergraduate student in endowment assets, by 2048.

With such a largess, why is Harvard charging a sticker price of $80,000 for undergraduate student tuition, room, and board? Yale and Princeton charge about the same. As the Ivies push the upper bound of tuition prices, other universities are emboldened to raise rates. All of this makes college more unaffordable for everyone and adds to the massive amount of student loan debt.

Our estimates of the forthcoming $1 trillion endowment use a reasonable set of historic assumptions.

First, we assume that the Ivy portfolio managers will match their own collective long-term market returns, which has been 10.5-percent. (Some Ives, i.e. Princeton, admit that their 20-year endowment returns averaged 11.2-percent.)

Second, we note that the Ivies annually spend five percent of their endowments (outgoing).

Third, we assume annual gifts of $2.2 billion (incoming) and assume those donor gifts will increase at five-percent each year going forward.

Therefore, between years 26-27, under our assumptions, the collective endowment has a forecasted value of $1 trillion. Furthermore, the Ivy endowments were able to provide another $826 billion on behalf of the universities during this period (the five-percent annual spend).

Recently, The Atlantic questioned the need for the Ivy League at all. The headline of the September article read, “Should Princeton Exist? Each year, top universities shower resources on a privileged few.”

In 2017, our Ivy League report found that in a previous six-year period, the eight colleges reaped a $42 billion benefit from U.S. taxpayer subsidies, special tax treatment, and direct payment on contracts and grants. In other words, on top of everything else, the Ivy League is taxing you.
Note: Only Dartmouth responded to our request for comment and the background on their endowment is linked in full here. Harvard chose not to respond, but provided this link. None of the other Ivies responded by our publishing deadline.

flockofseagulls104 wrote: ↑

Sun Jul 02, 2023 12:35 pm

This is just the Ivy League schools. I would bet your average state university has the same situation.

When I went to school, it was affordable. I had a job in addition to my classes, and it was enough to pay for it. I didn't need any money from my parents and I didn't need no stinkin' student loan.

Nowadays you have to pay through the nose in order to get indoctrinated by the left. But, apparently, they could indoctrinate their students for free for a hundred years with all the money they have in the bank right now.

jarnon wrote: ↑

Sun Jul 02, 2023 1:14 pm

flockofseagulls104 wrote: ↑

Sun Jul 02, 2023 12:35 pm

This is just the Ivy League schools. I would bet your average state university has the same situation.

When I went to school, it was affordable. I had a job in addition to my classes, and it was enough to pay for it. I didn't need any money from my parents and I didn't need no stinkin' student loan.

Nowadays you have to pay through the nose in order to get indoctrinated by the left. But, apparently, they could indoctrinate their students for free for a hundred years with all the money they have in the bank right now.

As Princeton's endowment has grown, so has its financial aid. At present, students with family income under $100,000 pay nothing. No tuition, no room and board, no loan, no required summer work, nothing. The few who pay the $80,000 tuition can easily afford it.

Flock makes a good point that maybe the government should use its limited resources to help colleges with more students and smaller endowments rather than elite institutions. Bernie Sanders would agree.

tlynn78 wrote: ↑

Sun Jul 02, 2023 9:10 am

Biden's student loan forgiveness is pure vote-pandering nothing more, as anyone with fundamental reading and comprension skills could grasp. What congress should undertake is looking at the usurious interest rates on those loans.

flockofseagulls104 wrote: ↑

Sun Jul 02, 2023 5:47 pm

jarnon wrote: ↑

Sun Jul 02, 2023 1:14 pm

flockofseagulls104 wrote: ↑

Sun Jul 02, 2023 12:35 pm

This is just the Ivy League schools. I would bet your average state university has the same situation.

When I went to school, it was affordable. I had a job in addition to my classes, and it was enough to pay for it. I didn't need any money from my parents and I didn't need no stinkin' student loan.

Nowadays you have to pay through the nose in order to get indoctrinated by the left. But, apparently, they could indoctrinate their students for free for a hundred years with all the money they have in the bank right now.

As Princeton's endowment has grown, so has its financial aid. At present, students with family income under $100,000 pay nothing. No tuition, no room and board, no loan, no required summer work, nothing. The few who pay the $80,000 tuition can easily afford it.

Flock makes a good point that maybe the government should use its limited resources to help colleges with more students and smaller endowments rather than elite institutions. Bernie Sanders would agree.

If you know anything about me, you should know that I think government involvement is the LAST option for any issue. But thanks for trying to put your words in my mouth.

Bob78164 wrote: ↑

Sun Jul 02, 2023 6:21 pm

tlynn78 wrote: ↑

Sun Jul 02, 2023 9:10 am

Biden's student loan forgiveness is pure vote-pandering nothing more, as anyone with fundamental reading and comprension skills could grasp. What congress should undertake is looking at the usurious interest rates on those loans.

So helping college students is pure vote pandering, whereas fighting to preserve Donny’s tax breaks for billionaires is sound economic policy. Got it.

I think I’m okay with Democrats running against that message in 2024. —Bob

Beebs52 wrote: ↑

Sun Jul 02, 2023 7:16 pm

Bob78164 wrote: ↑

Sun Jul 02, 2023 6:21 pm

tlynn78 wrote: ↑

Sun Jul 02, 2023 9:10 am

Biden's student loan forgiveness is pure vote-pandering nothing more, as anyone with fundamental reading and comprension skills could grasp. What congress should undertake is looking at the usurious interest rates on those loans.

So helping college students is pure vote pandering, whereas fighting to preserve Donny’s tax breaks for billionaires is sound economic policy. Got it.

I think I’m okay with Democrats running against that message in 2024. —Bob

Who creates more wealth for the country-billionaires or students with loans? Who is increasing YOUR tax burden, students with loans or capitalists with tax loopholes? Are most student loan holders white, ivy leaguer sorts or black, hispanic students? Is Biden stupidly pandering to those who actually won't vote for him? Who's advising him?

Bob78164 wrote: ↑

Sun Jul 02, 2023 7:49 pm

Beebs52 wrote: ↑

Sun Jul 02, 2023 7:16 pm

Bob78164 wrote: ↑

Sun Jul 02, 2023 6:21 pm

So helping college students is pure vote pandering, whereas fighting to preserve Donny’s tax breaks for billionaires is sound economic policy. Got it.

I think I’m okay with Democrats running against that message in 2024. —Bob

Who creates more wealth for the country-billionaires or students with loans? Who is increasing YOUR tax burden, students with loans or capitalists with tax loopholes? Are most student loan holders white, ivy leaguer sorts or black, hispanic students? Is Biden stupidly pandering to those who actually won't vote for him? Who's advising him?

When Donny gave the billionaires their tax break, my taxes went up to help pay for them. So it's the billionaires who have been increasing my tax burden. And that's gonna get worse in a couple of years when the middle class tax breaks expire but the billionaires' tax breaks don't.

Former students who are capable of fully participating in the economy by buying houses and having discretionary income, because they're not drowned in debt, make one helluva collective contribution to the economy when they're given that opportunity.

Like I said, protecting billionaires' tax breaks to avoid helping students is a message I'd be delighted to see Democrats running against. And it looks like the Republican Party may very well oblige me. So we may very well find out what the American electorate has to say about our collective priorities on that subject. --Bob

Beebs52 wrote: ↑

Sun Jul 02, 2023 7:51 pm

Bob78164 wrote: ↑

Sun Jul 02, 2023 7:49 pm

Beebs52 wrote: ↑

Sun Jul 02, 2023 7:16 pm

Who creates more wealth for the country-billionaires or students with loans? Who is increasing YOUR tax burden, students with loans or capitalists with tax loopholes? Are most student loan holders white, ivy leaguer sorts or black, hispanic students? Is Biden stupidly pandering to those who actually won't vote for him? Who's advising him?

When Donny gave the billionaires their tax break, my taxes went up to help pay for them. So it's the billionaires who have been increasing my tax burden. And that's gonna get worse in a couple of years when the middle class tax breaks expire but the billionaires' tax breaks don't.

Former students who are capable of fully participating in the economy by buying houses and having discretionary income, because they're not drowned in debt, make one helluva collective contribution to the economy when they're given that opportunity.

Like I said, protecting billionaires' tax breaks to avoid helping students is a message I'd be delighted to see Democrats running against. And it looks like the Republican Party may very well oblige me. So we may very well find out what the American electorate has to say about our collective priorities on that subject. --Bob

Nah. Dint happen

tlynn78 wrote: ↑

Sun Jul 02, 2023 8:34 pm

Beebs52 wrote: ↑

Sun Jul 02, 2023 7:51 pm

Bob78164 wrote: ↑

Sun Jul 02, 2023 7:49 pm

When Donny gave the billionaires their tax break, my taxes went up to help pay for them. So it's the billionaires who have been increasing my tax burden. And that's gonna get worse in a couple of years when the middle class tax breaks expire but the billionaires' tax breaks don't.

Former students who are capable of fully participating in the economy by buying houses and having discretionary income, because they're not drowned in debt, make one helluva collective contribution to the economy when they're given that opportunity.

Like I said, protecting billionaires' tax breaks to avoid helping students is a message I'd be delighted to see Democrats running against. And it looks like the Republican Party may very well oblige me. So we may very well find out what the American electorate has to say about our collective priorities on that subject. --Bob

Nah. Dint happen

Well, to be fair, they have to run on something..and it isn't going to be the economy, border security, or anything else of substance, so making shit up and regurgitating it seems their best option.

Beebs52 wrote: ↑

Sun Jul 02, 2023 7:51 pm

Bob78164 wrote: ↑

Sun Jul 02, 2023 7:49 pm

When Donny gave the billionaires their tax break, my taxes went up to help pay for them.

Nah. Dint happen

• Cap on deduction for state and local taxes (Trump's favorite because it hit "blue states" the hardest)
• No deduction for employee business expenses
• No personal exemption (hurting taxpayers who itemize deductions)