Jump to content

Market/Financial Thread


Chisoxfn
 Share

Recommended Posts

1 minute ago, Balta1701 said:

High wage immigration has very substantial limitations on it as well. Green cards take years to get even when people have jobs. It costs tens of thousands of dollars in time and legal fees to make that happen for most people.

Which highlights why our immigration system makes economic sense for doctors, engineers, professors but not common labor. The focus seems to be to protect the minimum wage jobs from immigrants. 

I've said for years we need a guest worker program similar to the H1B visa but cheaper and easier to process for lower wage jobs. 

Link to comment
Share on other sites

On 8/6/2022 at 6:27 PM, Texsox said:

I've always found it strange we put all our efforts into stopping minimum wage immigration while ignoring high wage immigration. 

Because most people who are anti immigration are also low wage.

  • Like 1
Link to comment
Share on other sites

1 hour ago, Texsox said:

Which highlights why our immigration system makes economic sense for doctors, engineers, professors but not common labor. The focus seems to be to protect the minimum wage jobs from immigrants. 

I've said for years we need a guest worker program similar to the H1B visa but cheaper and easier to process for lower wage jobs. 

If I remember correctly, don’t some of those professional jobs require professional degrees here too? The most ridiculous part about protecting minimum wage jobs from immigrants is that there are jobs they take that other people will not take. So the anti immigration folks don’t have lots to stand on with their arguments.

Use a guest worker program in the way you describe and see what happens to the economy.

1 hour ago, southsider2k5 said:

Because most people who are anti immigration are also low wage.

Like it or not, they will be the minority over time.

Link to comment
Share on other sites

  • 2 weeks later...

Can anyone figure out how to buy AmorePacific (Korean cosmetics holding company) through etrade?…I have searched everywhere.  Refused Charles Schwab/Ricketts/TD Ameritrade connection.

Also, does anyone have any arguments for VTSAX vs. VWRL World Total Markets/s ETF?

Edited by caulfield12
Link to comment
Share on other sites

Ended up in the middle of a student loan forgiveness conversation and thought I'd run it by the experts here.

Apparently there might be student loan forgiveness of up to $10k for people making < $125k. One of the people in the conversation makes > $125k but his wife makes < $125k and she's the one with the loans.

Is there a going to be a different limit for married couples? If not, would switching filing status to married filing separately work?

I had nothing to add since I've never filed a tax return.

Link to comment
Share on other sites

1 minute ago, CentralChamps21 said:

Ended up in the middle of a student loan forgiveness conversation and thought I'd run it by the experts here.

Apparently there might be student loan forgiveness of up to $10k for people making < $125k. One of the people in the conversation makes > $125k but his wife makes < $125k and she's the one with the loans.

Is there a going to be a different limit for married couples? If not, would switching filing status to married filing separately work?

I had nothing to add since I've never filed a tax return.

they will just need to wait for details.

Link to comment
Share on other sites

12 minutes ago, CentralChamps21 said:

Ended up in the middle of a student loan forgiveness conversation and thought I'd run it by the experts here.

Apparently there might be student loan forgiveness of up to $10k for people making < $125k. One of the people in the conversation makes > $125k but his wife makes < $125k and she's the one with the loans.

Is there a going to be a different limit for married couples? If not, would switching filing status to married filing separately work?

I had nothing to add since I've never filed a tax return.

What I've found is that "generally" if there is an income limit for single-filers it is doubled for married filing jointly. 

We had a similar situation for my wife's income-based student loan repayment, we filled separately for a few years so the payment wouldn't jump. 

As mentioned, there will surely be some fine print items to consider if and when it is formally announced. 

 

Link to comment
Share on other sites

3 minutes ago, Marqhead said:

What I've found is that "generally" if there is an income limit for single-filers it is doubled for married filing jointly. 

We had a similar situation for my wife's income-based student loan repayment, we filled separately for a few years so the payment wouldn't jump. 

As mentioned, there will surely be some fine print items to consider if and when it is formally announced. 

 

Yeah, I know nothing about this new program, but that has been the style for the last few years for sure.

Link to comment
Share on other sites

2 minutes ago, Harry Chappas said:

Can someone explain to me why they just don't make college loans interest free instead of forgiving them?  

 

I believe the short answer is that it would take an act of Congress to change the rules like that. For some reason, Congress has previously given the president power to forgive large chunks of student loans without consulting Congress. Thus, the President can do this with a stroke of his pen. Changing the payback rules in a way like that might be more fair, as could any number of other paths to improve the student loan issue, but anything other than a large loan forgivement requires a Senate Supermajority to accomplish, which will not happen under this Congress.

Link to comment
Share on other sites

1 minute ago, Balta1701 said:

I believe the short answer is that it would take an act of Congress to change the rules like that. For some reason, Congress has previously given the president power to forgive large chunks of student loans without consulting Congress. Thus, the President can do this with a stroke of his pen. Changing the payback rules in a way like that might be more fair, as could any number of other paths to improve the student loan issue, but anything other than a large loan forgivement requires a Senate Supermajority to accomplish, which will not happen under this Congress.

Sadly that makes sense. Thanks for the info

Link to comment
Share on other sites

12 hours ago, Harry Chappas said:

Can someone explain to me why they just don't make college loans interest free instead of forgiving them?  

 

I teach this.

By law, typically in June, Congress sets the rates based on the Treasury note auction in May. 

That might not be as helpful to borrowers as it appears. Over the past decades college costs have risen as fast as loan money has become available. Basically if rates went to zero, in theory students could borrow more, so universities would award their  professors huge raises* and adjust tuition. 

*More likely they will improve the eye candy with better cafeteria, resort pools, and other entertainment options. The net would be same payments with more debt. 

  • Like 1
Link to comment
Share on other sites

17 hours ago, CentralChamps21 said:

Ended up in the middle of a student loan forgiveness conversation and thought I'd run it by the experts here.

Apparently there might be student loan forgiveness of up to $10k for people making < $125k. One of the people in the conversation makes > $125k but his wife makes < $125k and she's the one with the loans.

Is there a going to be a different limit for married couples? If not, would switching filing status to married filing separately work?

I had nothing to add since I've never filed a tax return.

If I had a guess there would be a graduated plan so that those at $125,000 to say $150,000 would have 80% forgiven and so on. Lots of married voters earning over $125,000. 

Link to comment
Share on other sites

Yep, my guess was what is likely to be confirmed - $250k all in for filing jointly. 

Also agree with above ... fine and well for some, but in general this $10k is more or less Biden following through (right before midterms, shocking!) but to a lesser degree than a campaign promise. Trying to play both sides where he can get the most votes without pissing off too many people. As mentioned ... it doesn't fix the underlying issue (still going to be a problem in the future) nor does it alleviate the loans. Best case scenario for scum that run based on egos and votes. keep you on the hook so you can continue to make empty promises! 

Link to comment
Share on other sites

29 minutes ago, he gone. said:

Yep, my guess was what is likely to be confirmed - $250k all in for filing jointly. 

Also agree with above ... fine and well for some, but in general this $10k is more or less Biden following through (right before midterms, shocking!) but to a lesser degree than a campaign promise. Trying to play both sides where he can get the most votes without pissing off too many people. As mentioned ... it doesn't fix the underlying issue (still going to be a problem in the future) nor does it alleviate the loans. Best case scenario for scum that run based on egos and votes. keep you on the hook so you can continue to make empty promises! 

It's not a great solution to the bigger problem. I don't disagree with a lot of what you said, but at the end of the day, there are multiple people I know, some in their 50's (!!) that are still paying off debt and this will make their lives significantly better. 

  • Like 1
Link to comment
Share on other sites

agree. i'm not seeing a dime on this on the loans i inherited via marriage ... hold zero ill will. I am happy for everybody who is getting relief. In all likelihood I'll be paying into my 50's out of my paychecks. them the breaks...

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...