BEEN THERE DONE THAT!

Also, contemporary history lesson… For over 3 decades, Japan’s youth have, upon graduation, been so bad off (Literally living as bums on the streets) for years after leaving school…

We are there now! Looking forward to decades of social unrest from “lied to” youth who cannot earn a wage.

As to encouraging “entrepreneurs” to create a new electronic toy…
It is like telling minorities they all can become millionaire athletes…

How about just cutting down on student loans altogether also. I for one am sick of the federal government getting involved in higher education as much as it does. Numbers don’t lie and most people who start college never finish. Those who do end up with some kind of generic or otherwise worthless degree. What ever happened to learning a trade or on the job training? If your dream is to be a doctor, scientist, engineer or something else you actually need a degree for then by all means go to college. If not then learn a trade.

That problem starts with guidance counselors, parents, media and everyone else who tells everyone it is the norm to go to college. If your a C student in high school you should probably go to trade school and not waste your time and money and everyone else’s time and money pursuing that degree in cultural studies or underwater basket weaving.

I’m not trying to threadjack the overall point of changing the S corp rules to pay for it, but for the life of me I can’t understand why a pay- for is even needed since when the Health Care and Education Reconciliation Act was passed in 2010, the Senate’s talking points said it was fully paid for per the CBO and would make student loans more affordable (see link below) and also in a letter from the president himself on Feb. 24, 2009, also see link below.

So if you read the two web postings below, one has to scratch their head and wonder how in the world the interest rate change will cost 5.9 billion more since the 2010 Bill was paid for and would not add a dime to the deficit. Don’t tell me we were sold a bill of goods? Shocking

This from http://dpc.senate.gov/healthreformbill/healthbill61.pdf):
“Together with the Patient Protection and Affordability Act, the Health Care and Education Reconciliation Act will ensure that all Americans have access to quality, affordable health insurance and put students ahead of private banks. The Congressional Budget Office has determined that together, these two bills are fully paid for… Historic investments in our economic future will make college more affordable and accessible through a transformation in student loan programs.”

And this from excerpt from www.whitehouse.gov from Obama,http://www.whitehouse.gov/issues/education/higher-education titled “Making College More Affordable” :

“Student Loans that Put Students First:
The education related initiatives funded by the Health Care and Education Reconciliation Act are fully paid for by ending the government subsidies currently given to financial institutions that make guaranteed federal student loans. Starting July 1, all new federal student loans will be direct loans, delivered and collected by private companies under performance-based contracts with the Department of Education. According to the non-partisan Congressional Budget Office, ending these wasteful subsidies will free up nearly $68 billion for college affordability and deficit reduction over the next 11 years.”

Under IRC ?7872(c)(3)(A) and Regs. ?1.7872-5T, the IRS has the power to determine what you should receive as a “reasonable salary”. If this “reasonable salary” is not paid, they are then given the authority to reclassify profits as wages and tax them accordingly.

The legislation in question appears to be using a problem that doesn’t exist as an excuse to take more money from the productive members of society.

As the bumper sticker says, “Government Philosophy: If it ain’t broke, fix it until it is.”

Just a common person’s look at what is going on in real America. I get two to three calls a day from colleges asking if: I want to go to school…my husband wants to go to school…my son or daughter (and they know their names) who do not live with me want to go to school. Friends that cannot find a job…are going back to school…not with the hopes of finding a job…BUT TO SURVIVE day to day through the government subsidy called Sallie Mae.

Except for Conservative members of Congress…where are our leaders. We have the model of failure…it is called Fannie and Freddie.

Someone has to help me out on this one. Instead of the banks bundling these student loans…it seems like the government is doing all the lending. There was one bank in South Dakota (from memory) that was permitted to loan money. I might have read this all wrong…but it seems that this was all “bundled” in Obamacare…of all places.

As to the other point about starting a business…if these students get any kind of education…it’s darn near impossible to live the American Dream.

This president is out to destroy America…where are our representatives? Are they of the same mindset of the people mentioned above…getting the money they need to survive or rape the system?

On the subject of student loans. i personally don’t believe in them. It ‘s just another form of enslavement of the worker. i paid my way through college. It wasn’t easy but when i finished i had very little debt. The reason you go to college is to have a better paying job. The problem is with the loan program so many students come out with debt tht takes them a life time to pay off. In many situations i have sen people tht didn’t go to college end up with better buying power than the people with the alleged better jobs. so much of a graduates monthly pay goes to paying student loans that they have very little spending money.

I am obviously missing something.