[Picture ID: Tweet from @itshilarybuff, October 5th “Not a drill: Joe Biden commits to eliminating student debt for those who make under $120k. Y’all Go Vote!!!” Below that is the quote tweet from NBC News showing a clip from a town hall in Florida.]
btw, his plan, as stated here, doesn’t wipe my stupid loans, those aren’t going away shy of economic miracle, and I still love this answer. He’s talking specifically about killing loans going forward for people, and to handle the loans we already have, I copied from his website below.
From joebiden.com/beyondhs/#
More than halve payments on undergraduate federal student loans
by simplifying and increasing the generosity of today’s income-based
repayment program. Under the Biden
plan, individuals making $25,000 or less per year will not owe any
payments on their undergraduate federal student loans and also won’t
accrue any interest on those loans. Everyone else will pay 5% of their
discretionary income (income minus taxes and essential spending like
housing and food) over $25,000 toward their loans. This plan will save
millions of Americans thousands of dollars a year. After 20 years, the
remainder of the loans for people who have responsibly made payments
through the program will be 100% forgiven. Individuals with new and
existing loans will all be automatically enrolled in the income-based
repayment program, with the opportunity to opt out if they wish. In
addition to relieving some of the burden of student debt, this will
enable graduates to pursue careers in public service and other fields
without high levels of compensation. Biden will also change the tax code
so that debt forgiven through the income-based repayment plan won’t be
taxed. Americans shouldn’t have to take out a loan to pay their taxes
when they finally are free from their student loans.
That is much better than what the current set up does. Minus taxes and essential spending will be a fight over what that means depending where you live, but its a really good thing.
He also wants to help with job training so we don’t all get these degrees that don’t help us get dang jobs. And he wants to go after private for-profit universities. And he wants to better fun grant programs. and, and, and.
Most important of all? This guy listens. Sure, sure, politics is gonna politic, but millennials are the largest voting block in the country now. If we raise a fuss, it actually matters. But only if we vote.
Actually, let me just show you some math. Actual total of loans doesn’t really matter above a certain point to be honest because the interest grows faster than you can pay them, so lets say you’re on that sinking ship, where the payment amount to actually pay them off would mean paying something like 2700 a month. obviously not gonna happen. So you’re on an Income Based Repayment Plan with your borrower. You can be asked to pay between 10 and 20% of your net income (depending on many factors)
Lets say you’re a single human person, working a good job, 60k a year; after tax, you have around 45k. Under Biden’s plan, they start by taking 25k of that, putting it to the side and removing it from the calculus. Then. they take an amount off for essential spending. Don’t know what that math works out to yet, so lets assume someone awful gets to decide it, and its 12.7k a year (the poverty line for a single human) Then, they only can bill you for 5% of the remainder. So.
60k - taxes = ~45k
45k - threshold = 20k
20k - essential spending = 7.3k
$7300 x 5% = $365 a year -or- $30 a month
Sure, Strife, that’s a pipe dream, you say, what happens if the ‘essential spending’ part dies in congress? Fair point, Congress is a sinkhole of evil. But lets see:
60k - taxes = ~45k
45k - threshold = 20k
20k x 5% = $1000 a year -or- $83 a month
Yeah, you say, but I’m a curmudgeon and I want to assume the worst because I hate politicians, what if they lose the threshold, and only get the 5% through and everything else stays exactly the same?
In that case, it will straight up cut everyone’s payments in half. Minimum. Whatever you’re paying now? Half that. In the case of the example above, that means
60k - taxes = ~45k
45k x 5% = $2250 a year -or- $187 a month
So this guy is out here going after free college for the younger parts of GenZ and all of our kids. AND he’s going to make the loans we have into a much more bearable burden. PLUS. If you didn’t see up there? That he’d kill the taxes paid on forgiven loans? Yeah, that’s a thing right now. If you pay for 20 years, and end with 60k in loans to be forgiven, you pay taxes on the 60k all at once. Which means you owe the government around 15k. Which. Ironically. Usually means you have to take out another loan.
And this would apply to everyone, you can opt out if you wanna clear yours sooner, but you don’t have to do the jump through hoops and beg routine like you do now.
This is a really really reallygood plan, folks, please look at something other than tumblr and fb, please look at his website, there’s some really good stuff in there. If you don’t understand, ask for clarification, bc there is so much good.
fuck wan shi tong. aang deserves to go back to the library and read every single text that pertains to the air nomads
i simply think aang has every right to spend hours in the library with his friends and allies, working together to copy each page of each book by hand, carefully and lovingly bringing his people’s texts back into the world! and i’m correct.
okay, but - wan shi tong only ever knew aang, katara and sokka. he didn’t meet all of aang’s friends or allies.
so what i’m saying is, after the war the gaang watch aang struggling to remember the details of his culture, the history of his people. they see him trying his hardest to rebuild the air temples alone, teaching people his traditions because he’s terrified that they’ll be forgotten. his friends hate it, watching him hurt and being unable to help him because - how could they? they were born years after the air nomads were lost. they don’t know anything about the culture.
until toph remembers the library. she knows that aang can never return, after what happened - but she can, and zuko can, and so can suki. under iroh’s guidance, they make it to the spirit world and request entry to wan shi tong’s library. their motives, this time, are entirely pure - they seek only knowledge for knowledge’s sake. so wan shi tong lets them in, and they spend hours, days, copying down ancient air nomad texts in dialects they barely understand, odd symbols written by monks on scraps of paper, diaries and paintings. any remnant of the air nomads that they can find.
exactly a year after the war ends, they give aang the greatest present anyone ever could. they give him back his history.
man people be out there talkin about the ‘guy saves the girl’ tropes in FMAB while completely ignoring all the times the girls saved the guys. just some examples off the top of my head:
>winry gave ed an arm and a leg. literally, the entire reason he could even move around was thanks to her and granny pinako >riza tripping mustang during his confrontation with scar in episode 5, wherein he very well could’ve died just like that >honestly just the first half of episode 54 with riza and mustang hhbhbhbhbbbh >lan fan cutting off her own go d dda mn arm so that ling and her could escape from bradley in episode 23, saving both their lives >(hell ling states in that very same episode that she’s stronger than him and was more dedicated to saving their clan than he could ever be) >mei healing scar’s wounds on several occasions >mei healing dr. marcoh’s wound in episode 31 >winry every time ed does anything stupid ever >lets be real ling wouldnt have survived two steps into the desert without lan fan >lets be real mustang wouldnt have survived two seconds being a colonel without riza >lets be real edward wouldnt have survived pretty much anything without winry >also maria ross and rebecca coming in clutch with extra supplies in episode 51!! >izumi kicking greed’s ass and saving ed in episode 14 >olivier saving the entirety of fort briggs with her quick-thinking and leadership when sloth showed up >olivier absolutely o b l i t e r a t i n g general raven in episode 36, saving the world from having that creepy asshole be alive anymore >also her technically saving several briggs men from being trapped in that tunnel by sneakily giving the old guy a broken watch in episode 38 >just olivier in general >just izumi in general
anyway summary: all the women in FMA are amazing and strong and way more capable than any man to have ever existed and i want to hold all their hands
Heck yes! Ross also saved Al at Lab 5 when she shot Barry.
Shall we also remember the time Mei sacrificed Al despite her own feelings? Had that plan not worked, she would have been subjegated to a life of grief and guilt. But she still did it, WHICH resulted in Ed getting his arm back leading him to be able to defeat father AND Al getting his body back.
