The Hidden Cost of Incarceration
The Internal Revenue Service has announced that it’s sent out a third batch of American Rescue Act stimulus payments, and this is the first batch that includes “plus-up” or “supplemental” payments for those who got partial $1, payments earlier. The $1, payments—a third round of Covid-relief economic income payments—were authorized by the March 11 American Rescue Act. Presidential Election Campaign Fund: $ million of taxpayer money will be used to pay for stages, food, alcohol, balloons and confetti for the Democratic and Republican National Conventions in The Democratic and Republican Parties are not federal agencies and should not receive tax payer funds to pay for their events.
What happens to a student loan deferred? Or draw interest— Do payments ever end? Does it grow into a mountain of debt? Until an unknown number calls you up taxpayrr collect? Maybe it just sags like a heavy load. Until someone forgives it But the financial cost of pursuing the American dream also comes toes a lifetime of debt.
As with most political debates, people used bad-faith arguments or strawmen to present the other side of the issue. Have you ever heard the phrase, when white Goex gets a cold, Black America catches the flu? According to the Department of EducationBlack college graduates have nearly twice as much student loan debt as the typical white grad.
White students, on the other hand, usually owe 47 percent of their original debt. Not only is this crisis exacerbated by higher Black unemploymentwage disparities and the racial wealth gapbut loan companies charge Black students higher interest rates. So, Black grads have less money before they attend college; earn less money after college and have to pay back loans at higher interest rates. Elizabeth Warren thinks the Higher Education Act gives the secretary of education the authority to forgive student loans without congressional approval.
But what does she know besides having a little thing called a law degree? Or how about when he used defense funds to do it? Think of student loan companies as undocumented debt collectors trying to sneak into your wallet. So why should your city spend hard-earned taxpayer money on lifeguards?
Student debt relief is no different from Social Security or any other iteration of the government safety net. For instance, most people who receive food stamps can stampa afford to buy food.
However, the Supplemental Nutrition Assistance Program supplements the income of low-income Americans so they can use their income for more pressing needs. The same holds true for Social Security and Medicare. We also bailed out banks, the auto industry and companies affected by the Trumpandemic.
Studies show that when white people attend college, they become more progressive. Republicans want to inflict pain on Democrats. But recent polls show 65 percent of Americansincluding many Republicans, support policies that erase student debt. A year earlier, the number was 58 percent. Instead of muchh statutory 21 percent tax rate, the Fortune paid an effective tax rate of This means we could erase all the student debt that exists in 20 years using only the lost revenue of the biggest corporations.
More income also means college graduates have more money to spend, which means businesses make more money. Businesses making more money means fod can pay the increased taxes. We need to fix a lot of things, including the rising cost of how to pass personality test decreasing state and local contributions, and the lack of support for HBCUs.
No one is saying we take this problem instead of those oges. Perhaps we use the lost revenue from the companies ranked how to make a knitted head wrap, What do we do with the revenue? Well, we make public colleges free, just like K colleges.
Again, there is enough money. Everyone knows that the most frivolous, irresponsible people are the ones who dedicate years of their lives to educating themselves with no reward except future financial mkch. And loan payments are the perfect way to teach these derelicts how the world works.
The government should be held responsible for backing bad decisions with taxpayer money. The corporate tax loophole, coronavirus PPP loans, inheritance tax exemption, stimulus checks, farm subsidies, HUD loans, every time Trump goes golfing at Mar-a-Lago, the defense budget, subsidizing private healthcare, Fannie Mae, Freddie Mac, the FDIC, private prisons, churches, tax incentives for corporations, publicly-financed sports stadiums, Beyonce concert tickets World-renowned wypipologist.
Getter and doer of "it. Last real negus alive. University studies are free and students are getting health insurance and free public transport. They can also get euros per month to help them with their expenses for groceries, rent and cultural endeavors and hobbies from the federal sustainable education fund.
These monies are paid to all students taxpayre of their nationality. These monies must not be paid back. Taxpaher German companies have mufh this system and offer their employees to follow bachelor and master degree howw at university. The employees follow the courses like ordinary students and are payed euros how to stop vehicular pollution month.
The go to work in their company during the university holidays. How much taxpayer money goes to food stamps have however six weeks holidays anyway. The companies do this because they are interested in having a goex educated workforce and hope that the future academics will continue working at the firm after having obtained the bachelor and master degrees. Indeed most people repay the loyalty shown to them and stick to their employers.
Win win. The A. The Root Haxpayer. Michael Harriot. The Root University The Root Hpw offers a wide range of online classes and academic resources "for the culture. Michael Harriot Posts Twitter. Share This Story. Get our newsletter Subscribe. Gles, in Germany: University studies are free how much taxpayer money goes to food stamps students are getting health insurance taxpaer free public transport.
Economic Waste Is A Shame
The increase in cost of a new car can be accounted for by the fact that cars today are much more elaborately made as required by regulations and law for the safety of the passengers as well as restrictive emission and mileage standards. A vehicle made today using standards would cost much, much less (and probably wouldn’t be legal to drive). Mar 26, · Correction: An earlier version of this article incorrectly stated the amount of taxes paid by those who use Individual Taxpayer Identification Number, or ITINs, in Search US. Dec 17, · Kae Boone, 52, says she spends $ a month on her boyfriend, Charles Lee Isaac, 52, who is incarcerated at the Graceville Work Camp in Graceville, Florida, for failing a drug test, a violation of his parole for an earlier offense. Boone says the money mostly goes toward toiletries and food.
Back in , I first addressed this topic because I was frustrated by how much I was paying in taxes. I was burning out and needed a change. Who knew that two years later I would negotiate a severance and permanently leave the well-paying finance world behind.
As a Financial Samurai, I believe in fiscal responsibility. You make sure you get the most for your dollar. If I spent too much, my judgement would come into question. If it did, my year-end bonus would be in jeopardy.
Yes, politicians are supposed to be good people who have their voters best interests at heart. However, to become a politician, you also need to have a big ego and an unusual amount of narcissism. Being a politician goes completely against my beliefs of stealth wealth and avoiding fame. Unfortunately, there are many instances where the system breaks down. The thing is, people tend to be more self-serving than genuinely magnanimous. He believes Bill and Melinda Gates are a better steward of how to spend his money on others.
I know one millionaire early retiree who wants to vote on legislation to raise taxes on other people. The majority of people are going to rationally do things in their best interest.
When it comes to your money, you should spend it however you see fit. Hopefully, many of you have saved a tremendous amount of money to spend during times like these. If you can spend money to counteract the negatives of a bad situation, you should. In other words, if you believe we should raise taxes instead of cut costs, then you should be willing to pay more taxes as well.
After all, the goal is for all of us to help other people. If you believe in equality between men and women, you should fight to abolish the marriage penalty tax. I get it. Is the 4th way of spending is the worst way of spending?
Why are we asked to choose which of these is the worst? Who would even have the moral authority to judge? How do you judge government spending? You look at what that government program accomplishes and what it costs, and you measure efficiency by comparing the two. Even with the inefficiencies of welfare and social programs, they still do good. Plenty of kids whose lives would be much worse off without programs like utility help, food stamps, section 8 housing, etc.
Finding a solution to address the inefficiencies is the hard part. Bash the government post- especially the comments. The same government that gives us capitalism and the laws to allow it to thrive?! That could easily be incentivized to be more effective. But again we now would treat our govt.
This is simply laziness- Americans want efficient govt. The long and short of it is blaming a govt. Glad to have riled you up! What is the best solution then? If not to encourage people to be more consistent with the way they vote, spend, and act? Just barely. A long time joke is that in IL, our governors make our license plates.
This fair tax was anything but. The proponents used class envy hate? But the big thing is that we would move to a progressive tax rate.
This of course is a good way to divide and conquer. At least with a flat tax we all suffer. And we can all fight the Springfield Republicrats to stop them from raising taxes to waste and steal even more money. I was in favor of capping the SALT deduction even though my taxes increased. But I still voted against it even though my tax would increase by voting no. The Buffets, Sanders, Warrens, Gates, etc of the world make me sick. I love Milton Friedman and his books!
Free to Choose helped change me from a Neo-Marxist, to a fiscal conservative. Thank you for keeping his ideas alive for future generations. I think he would be horrified to see the US now. You nailed it when you said that there is no congruency between belief and action. People are inherently selfish and look for ways to rationalize everything and anything to make themselves feel better.
Everyone is guilty of it to a certain extent. Over dinner one night she harped about the terror of the number of plastic floating in the ocean, how people are negatively affecting the environment by not being conscientious about their habits, how people carelessly consume without thinking about the impact on landfill.
Or how they talk about the caring for the working middle class while they live in their grand multi million dollar homes. The only politicians that I can think of at the moment that backs up their talk with their walk is Elizabeth Warren and Bernie Sanders. The same can not be said for MOST politicians. I actually did a fun exercise trying to calculate the net worths of Elizabeth Warren and Bernie Sanders. Both are very wealthy.
And I guess they should be multi-millionaires given their age, income, and pensions. The big problem I have with Warren is that she said she was Native American for so many years Texas State Bar Registration card is one example of proof. Minorities already face more barriers and have less opportunity than the majority.
To then choose the most minority of minorities to be different and probably try and help yourself get ahead is shameful. I respectfully declined. And thanks for sharing those two links. Those two are definitely rich, but it still appears to be relatively modest.
He has three homes. Look at his tax returns. He pays more in mortgage interest than he donates by a multiple of many X. No real understanding how the economy works. There are a couple of simple fixes but doubt they would ever get enacted as the incumbents would have to vote against their own selfish interest.
Period no exceptions, back to the real world after 10 years. Eliminate all pensions for any public office holder. Three, force public office holders to avail themselves to the same health care options available to John Q.
Five, no more fund raising of any kind of elections, since the airwaves are public assets every election should afford each candidate a set number of public broadcasts for them to present their policies and then there should be mandatory publicly broadcast debates.
Zero commercials, zero fund raising of any sort. Fortunately, we all found out in prime time what an empty suit he is even if it happen to be a very expensive suit! No one as smart as they are leave money on the table. Not taking advantage of the loopholes puts you in a disadvantage against the rest of the rich that do use them. If Gates and Buffet believe they are not paying enough taxes, there is nothing to stop them from simply sending a check to the IRS.
Of course, they will never do that. They much prefer to make charitable deductions to their foundations and reduce the amount of tax they pay. In essence that reduction results in additional funding for their foundations at the expense of the rest of us. Charitable deductions should be prohibited; if you want to donate, feel free, but do expect the rest of the taxpayers to make up the difference. After all, the goal is for all of us to help other people, not just tell other people to help other people.
It all comes down to Accountability big brother watching. First, I agree the 4th type of spending is the worst type of spending. Unfortunately, over the years lobbying has changed and influenced the politicians. I think if we go back to a time when politicians were not actually paid by government and were there on their own dime they would make better decisions about what to fund.
As right now politicians have an incentive, their paycheck and stipends, to want to be and stay a politician for life. This means they need help from who is lobbying to get re-elected. As the politicians would be at the government in the first quadrant. While right now they basically have everything from the 4th quadrant. As their plane tickets, rental where the government centre is, office, etc. They basically only need to pay for their primary residence.