Posted on 08/20/2020 4:23:05 PM PDT by karpov
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Student-loan debt and higher education
During her short-lived presidential campaign, Harris joined her competitors Bernie Sanders and Elizabeth Warren in releasing a plan aiming to address the $1.5 trillion student-debt problem. The proposal was part of her broader plan to close the black-white gap with regard to jobs in high-paying fields like technology and engineering and entrepreneurship.
Under the Harris proposal, borrowers who received a Pell Grant, the money the government provides to low-income students to attend college, will have up to $20,000 of their student debt forgiven if they start a business and operate it for at least three years in a disadvantaged community. In addition, qualifying borrowers would have their loans deferred interest-free for an up to three-year business formation period.
The plan faced swift backlash on Twitter, where people argued that accessing forgiveness would be an onerous task. Harris even acknowledged the reaction tweeting, “I want to thank everyone for your feedback and clarify some confusion.”
Harris also proposed making community college free and four-year public colleges debt-free. She said that she would allow borrowers to refinance their loans at lower interest rates and expand the income-driven repayment program, which allows borrowers to repay their loans as a percentage of their income.
For-profit colleges have had a formidable adversary in Harris. She has said that the U.S. should get rid of them, and as California attorney general her office was a $1 billion-plus judgment against the now-defunct Corinthian Colleges after uncovering fraud at the college chain.
Affordable housing
Last July, Harris’ presidential campaign released an extensive plan aimed at increasing the homeownership rate in black communities. The plan called for earmarking $100 billion for federal grants that would help with down payments or closing costs for families who rent or live in historically redlined communities.
(Excerpt) Read more at marketwatch.com ...
Having traded stocks since 1963, I am highly favorable to tax on stock transactions and eliminate long term capital gains tax (which is mostly inflation).
And free Chicken McNuggets for everyone.
First, funny they describe that as "large". Second, if you are a single parent making half the money, it only costs half as much to raise a child?
And... “refundable tax credit” so you have to have to wait a year to get your money back to pay for your kids.
A t-shirt seen recently:
I don't need to go looking for sex.
The government f___ks me every day.
Of course, the government will not forego the capital gains tax. Under her plan, you will have both taxes.
Don’t forget that under current law, if the stock trade is held for less than 1 year, it is already taxed as ordinary income.
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