BAD STOCK MARKET INVESTMENT debt is such a vicious cycle. It truly hits low-income earners, but it forces them to stay low-income earners because they can’t never get out from under it.
STUDENT debt is such a vicious cycle. It truly hits low-income earners, but it forces them to stay low-income earners because they can’t never get out from under it.
RACE TRACK debt is such a vicious cycle. It truly hits low-income earners, but it forces them to stay low-income earners because they can’t never get out from under it.
QUESTION: Can Hochul identify a SINGLE form of debt that isn't "cruel" and doesn't hit primarily low-income people?
Well, at least this cockamamie law applies only to earners, right? So people on welfare, retirees, etc. won't be able to profit from it.
Regards,
Yup—another variation on this theme is college education and college loans.
The “experts” noticed that folks with college degrees had much higher lifetime earnings than those without college degrees.
They concluded it was unfair that black people did not have as many college degrees as white people.
Therefore they came up with “affirmative action” to get more black kids admitted to college—and college loans to help the pay for it.
What they have actually done is created greater poverty for many blacks—who borrowed money to pay for college, realized they could not cut it—and dropped out with the worst of both worlds—a ton of debt and no college degree.
Even for those blacks who did get college degrees the majority still ended up in major trouble—deep in debt and often lacking the skills to survive long in the cold cruel job world where a college degree may get you in the door but won’t keep you there for long.
That’s one of your best posts ever.