With PAYE, I feel sorry for bros trying to pay off high debt
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Poast new message in this thread
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Date: April 24th, 2014 2:20 PM Author: Multi-colored Hairy Legs
i can't.
for all other kinds of debt, when the borrower can no longer service it, they are allowed to go bankrupt. this principle is so fundamental to our economy and system of property rights that it goes back to the founding of the country and is available to all people and corporations. it's a function essential for our capitalistic economy to work.
but ignorant 22 year olds? the government (both the federal government and public universities) actively push hundreds of thousands of dollars at a high interest rate on them and then by law prevent them from ever being able to get out from under it.
without some other legal mechanism to alleviate the debt, at that point, the only rational decision for the borrower is to leave the country.
(http://www.autoadmit.com/thread.php?thread_id=2550778&forum_id=2#25439024) |
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