Democratic Primaries
In reply to the discussion: Warren: "Unfairness" of loan relief is like saying no to SS because prior generations didn't have it [View all]matt819
(10,749 posts)A few years ago a credit card processing company made a public announcement that they would phase in a $75,000 minimum annual salary for all their employees. The CEO's brother quit - or maybe he was the co-CEO - or at least threatened to. The CEO reduced his milion dollar salary to $1 for a period of time. Some of the higher-paid employees, who believed they were worth the $75,000-plus that they were paid, were pissed that lower-paid (and lower skilled?) employees would soon be at their level, decided to quit. (I may be a bit off on the quitting and pissed-offedness, and I don't know what actually transpired, other than that the company is doing very well, but you get the idea - people were pissed off.)
Well, you have to start somewhere. There's millions of students and ex-students in this equation, and well over $1 trillion in question. Then there's the added factor - and confusion - over federal loans and private loans. Some have been paying for years and gotten nowhere close to repaying. Some have been paying for years and paid off their loans or are close. Some loans were humongous. Some not. Some people got great jobs and had no problem repaying. Some not. Some students got screwed by their colleges and by banks. For others everything worked out fine. Some loan recipients turned out to be deadbeats.
So, yes, people will be pissed off. But you have to start somewhere to alleviate this crisis.
primary today, I would vote for: Joe Biden