Student Loan Crisis

Discussion in 'Opinion POLLS' started by wgabrie, May 16, 2021.

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Would you rather pay off students' loans or increase grants?

  1. Pay Off Loans

    6 vote(s)
    54.5%
  2. Increase Grants

    5 vote(s)
    45.5%
  1. Bluesguy

    Bluesguy Well-Known Member Donor

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    Of course you can, when new property appraisals are issued there are LOTS of disputes filed in court. Go get a mortgage and the bank will tell you what they will lend you on it. They will tell you how they will lend you on a car. And valuations differ. And OF COURSE, any reasonable person wants to pay the least tax but in the end the government is who determines what is the value and the tax. And when you get to such HUGE valuations such as a billion dollar business or billion dollar estate those things are routinely determined in a court. It's not that it is criminal thing it is a dispute about the function of the tax and how it is applied. It's one of the fallacies of the wealth tax. Who determines the value of all the wealthy and how. And when those valuations get contested it can take YEARS to adjudicate over the dispute. Courts are filled with property and estate tax disputes.
     
  2. FreshAir

    FreshAir Well-Known Member Past Donor

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    the illegalities come when you tell banks a higher number then you tall the IRS
     
    Last edited: Jun 7, 2021
  3. Bluesguy

    Bluesguy Well-Known Member Donor

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    The IRS doesn't care about the value of my property, my property is not taxed by the IRS. Can you point me to the form where you report to the IRS the value of real property?

    My property is appraised for tax purposes at $152K. If I went to the bank to get a loan I would write in the approximate value $200K. Have I violated a law?
     
  4. FreshAir

    FreshAir Well-Known Member Past Donor

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    do you run a business renting out your property and did you inherit billions in property - the numbers get bigger in those cases
     
    Last edited: Jun 7, 2021
  5. Bluesguy

    Bluesguy Well-Known Member Donor

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    I have and the IRS is concerned with the profits and losses not the value of the building you are renting out.
     
  6. Bluesguy

    Bluesguy Well-Known Member Donor

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    What law is that and where do you tell the IRS the value of the property?
     
  7. wgabrie

    wgabrie Well-Known Member Donor

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    I am reminded of when it was discovered that Trump was keeping one set of books for investors and one for taxes. Did he go to jail for that? I don't think so.
     
  8. Hoosier8

    Hoosier8 Well-Known Member Past Donor

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    Maher pillories a left wing sacred cow.

     
  9. Bluesguy

    Bluesguy Well-Known Member Donor

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    Books aren't books aren't books which books are you talking about which books for the IRS that include the value of all the assets?
     
  10. FreshAir

    FreshAir Well-Known Member Past Donor

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    you will have to watch the trump case, I am not a lawyer
     
  11. Bullseye

    Bullseye Well-Known Member

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    So, what about this: limit the amount a student can get to the amount he can be expected to by able to pay back, with interest, within ten years. The amount could be calculated based on the employment prospects post graduation.
     
  12. Bluesguy

    Bluesguy Well-Known Member Donor

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    I have been watching the case and I am not a lawyer you have been claiming he violated the law here but when asked how you say oh I'm not a lawyer so I don't have to answer. The IRS taxes businesses on the income, the net income before taxes they earn. They don't do property taxes. They will ask for the value of capital equipment you are going to depreciate but once that depreciation is over they don't care what the value is.

    Have you ever taken out a mortgage or auto loan? Have you ever run a business?
     
  13. Bluesguy

    Bluesguy Well-Known Member Donor

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    How about the schools loan the money or underwrite them and if the student isn't success, the education they received did not produce the income to pay for they can suffer the consequences of the non-repayment.
     
  14. FreshAir

    FreshAir Well-Known Member Past Donor

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    he is being investigate for it, so we will see
     
  15. Bullseye

    Bullseye Well-Known Member

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    Some educations produce little income; why would a college fund that?
     
  16. TOG 6

    TOG 6 Well-Known Member

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    Was he charged for that?
    No?
    Why?
     
  17. Bluesguy

    Bluesguy Well-Known Member Donor

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    Why do they charge so much then? Which ones are you talking about and why should working taxpayers pay for it?
     
  18. TOG 6

    TOG 6 Well-Known Member

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    Because the consumer is insulated from the cost of their goods and services - they can.
     
  19. Bluesguy

    Bluesguy Well-Known Member Donor

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    Which bank has filed a lawsuit? They are the ones who would dispute it and the "wronged party"?
    It's your claim but when pressed you have nothing to back it up.
     
  20. Bullseye

    Bullseye Well-Known Member

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    I don’d think the taxpayers should pay for it, either. The honest answer to “why do they charge so much?” is because they can get away with it. Kids can go to the financial aid office sign a couple of papers and get a check which they give to the school. Do that semester after semester and the total adds up.
     
  21. FreshAir

    FreshAir Well-Known Member Past Donor

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    the feds are investigating, comparing bank records to tax records
     
    Last edited: Jun 8, 2021
  22. Bluesguy

    Bluesguy Well-Known Member Donor

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    And then the Dems say hey don't about what it cost we'll make someone else pay for it.
     
  23. Bluesguy

    Bluesguy Well-Known Member Donor

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    Yep all they have to do is get the Dems to send them more money.
     
  24. Bluesguy

    Bluesguy Well-Known Member Donor

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    For what?
     
  25. Jack Hays

    Jack Hays Well-Known Member Donor

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    There is no crisis. Don't borrow the money if you can't pay it back.
     
    Bluesguy and it's just me like this.

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