Wage garnishments start on January 7.
Education Department to Start Garnishing Pay of Defaulted Student-Loan Borrowers
The Wall Street Journal reports Education Department to Start Garnishing Pay of Defaulted Student-Loan Borrowers
The department said it expects the first notices to be sent to about 1,000 borrowers in default the week of Jan. 7, and that the notices will increase in scale monthly. It said wage garnishment is conducted only after student and parent borrowers have been provided sufficient notice and opportunity to repay their loans.
More than five million federal student loan borrowers are seriously delinquent on their loans and over three million haven’t made a payment in more than 270 days, according to Education Department data. Wage garnishment typically begins after borrowers have missed payments for 270 days.
Until past due payments are paid in full or the default status is resolved, borrowers could see up to 15% of their wages automatically deducted from their paychecks.
What Student Borrowers Need to Know
If you are a student loan borrower, here’s Everything You Need to Know About Wage Garnishment
The Education Department said that it expects the first wave of wage garnishment notices to be sent this week and that notices will increase in scale monthly. It is the latest step by the Trump administration to get federal student-loan borrowers back into repayment after an extended forbearance period that started in the pandemic.
How the government collects
Once student-loan borrowers go into default, their entire loan balance becomes due and the federal government has several ways it can collect the debt.
Defaulted borrowers who haven’t made a payment in more than 360 days or taken action to resolve their status could see up to 15% of their wages automatically deducted from their paychecks. In addition, the government can withhold money from borrowers’ tax refunds and other federal benefits, said Sarah Sattelmeyer, who works in the higher education initiative at New America, a liberal-leaning think tank.
“If you have $10,000 of debt and your federal tax refund is $3,000, the government can withhold that whole amount,” Sattelmeyer said. That is even while it is garnishing the borrower’s pay.
After being notified of the severe collection consequences they could face, borrowers have 30 days to remedy their status and avoid wage garnishment.
Getting out of default status
Borrowers in default have a couple different options. Those who want to object to wage garnishment, whether it is on grounds of an error on their account or their financial or employment status, can request a hearing from the Education Department.
Defaulted borrowers can also choose to negotiate the terms of their debt. One option for doing so might be to consolidate their loans, which replaces the defaulted loans with a new one. This is typically the fastest solution for those who still need to borrow, since borrowers can’t take on additional loans if they are in default, said Carli Reddy, a certified student-loan professional and head of coaching at Candidly, a financial-wellness company. But consolidation can reset the number of payments borrowers have to make before having their remaining balances forgiven under various programs.
Staying in good standing
To avoid falling behind on payments, borrowers should ensure they are on a manageable payment plan. The Education Department uses borrowers’ most recent tax return when determining how much they can afford to pay on an income-driven repayment plan. So borrowers who expect to earn more in the year ahead might want to consider applying for a plan before filing their 2025 tax return, Reddy said.
Those who have recently been laid off or are making less than in the past can submit recent pay stubs to potentially qualify for plans that lower their monthly payments.
It Starts to Add Up
- 5-7 million Student Loan borrowers
- 22-24 Million on Obamacare
- Record Bankruptcies
- Mass Layoffs
- Concerns over food and shelter
- Huge hikes in health care premiums for nearly everyone
- No housing affordability
But hey, it’s the greatest economy in history (if you own stocks).
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Government lends money to students.
Universities raise tuition fees to match the student loans.
Government raise student loans to match the tuition fees.
This is classic debt trap.
Claw back the money from the colleges. If we can repo Venezuela, why not colleges?
When I went to university in Australia in the 70’s it was not only free, but there was something called the Tertiary Education Assistance Scheme which paid you an income equivalent to the unemployment benefit (which was plenty to live on in those days.) The TEAS lasted about 15 years until it was replaced with the Higher Education Contribution Scheme which was similar to the American student loan program but with eventual repayments linked to earnings….
They are starting with 1,000 of the 5 Million Delinquents. WOW, they are in a big hurry!
A government headed by a man who preyed on teenage girls will happily prey on teenage borrowers as well!
So they only started started preying on teenage borrowers in 2016????
There you go again Phil
Exonerate your party in this fiasco.
Virtual signal away
What are you, simple? You don’t remember Biden’s efforts from just a couple years ago?
Oh I remember, you’re one of the ones who tries to excuse the pedophilia
Biden wanted to forgive student loans illegally . I do remember that.
Know one is above the law!!!!!!!!!!!!!!!!!!!!!!!!!!! One of your democrat talking points.
You guys need to come up with some new talking points
No Kings!! Whatever dude
Here’s a chart of the increase in college costs.
https://educationdata.org/wp-content/uploads/7340/historicaltuitioncostsin2021dollars.png
Here is the growth in student loans.
http://www.mybudget360.com/wp-content/uploads/2012/06/student-loan-growth.png
What we don’t have is the growth of idiot degrees for students who were exposed to crappy education in high school, a DIRECT result of liberalism and DEI.
Just dumb, and libelous. If you have proof provide it.
The only reason people are not celebrating the greatest economy ever is:
They expect to get everything handed to them.
The Federal Government disallows the discharge of student debt through bankruptcy. This disallowance applied to federal loans first and, in 2007, to privately funded loans as well. This created a predatory lending environment for colleges and universities wherein loans were offered to students in amounts that no arms-length ordinary lender would consider. Tuition soared, administrations bloated and responsible borrowing was discarded. Now students, many of them insolvent, will have their salaries garnished.
I know that most of Mish’s readers are smarter than me, so be gentle, but what would be the cost to the government if the Feds were to allow family and friends of insolvent students to pay off student debt and receive a federal tax deduction? I know this still results in the use of public funds and maybe this idea doesn’t get out of the gate, but it just seems a better alternative than a bunch of young, college educated adults dragging a ball and chain around during the prime of their lives.
Seems like it would be easier for family and friends to gift the money to the insolvent student, who could then pay down debt. Just stay under the gift tax limit!
easier yes but why not entice with a small tax deduction?
And is there a guarantee the insolvent student will actually pay all of the debt down.
Sure, we all hope but I might want to take the actually direct pay off payment to be made out of the hands of the borrower, specifically at that point.
For every dollar repaid, the student is credited for $1.20. Incentivizing repayment. Not tax deductions, when they likely can’t pay taxes.
It does not fix the problem of over-priced colleges admitting too many students for the market, and teaching incompetently
I like the idea
I work very closely to the industry…
I don’t think your suggestion would have much of an effect. First of all, most of the loans already have cosigners that are almost always close family. For the most part, these people can’t pay the loans, either- even the ones that are (relatively speaking) financially solvent.
And outside of that, the majority of students that have family with those kinds of means don’t have the student loans in the first place. For the students with significant student loan debt (we will say, anything over 25k), I would estimate the percentage of students that could get family to bail them out- even with a tax incentive for the family members to do so- to be VERY low. Below 5% and maybe even below 1%.
Great point . I stand corrected.
It would seem like more of the co-signors would be able to pay some or all of this back no? You are telling me no so if your in the industry you know better than me
Makes me think, what are these kids majoring in college? Yes, the economy is not great. And its more now a global economy “inside” the U.S. job market and that was not the case for many of us years ago
Since you are closely connected is a college degree worth it for 1/2 of these kids?
Is a college degree overrated? The cost benefit not worth it now?
In the old days it was with studies cited that college graduates make more
A lot of this seems like too many kids are going to 4 yr expensive colleges when they shouldn’t be there at all.
I’ll try to give you the cliff notes version:
Kids today that don’t come from privilege have NO chance. Even ‘in demand’ fields are struggling. Without money, you are looking at several hundred thousand dollars in student loans for lawyers, doctors, dentists, engineers, et al. And these kids don’t have the connections, borrowing power, and/or ability to support themselves while they (try) to build their careers. Do some of them make it? Yes. Do most of them make it? NO!
And these are the best possible candidates. How about the kids that major in fields that don’t pay well, or those that never graduate that never should have been there in the first place, those that go to school later in life (a recipe for disaster, btw), those that don’t have the talent to compete, or have health problems, etc? For all the hand wringing you hear about basket weaving degrees, or ‘these kids needs to do this or that, or major in this or that’, the fact is that most kids aren’t cut out to be ivy league graduates or tech geniuses. MOST people are going to school for business, or to be teachers, nurses, accountants, etc….
Most cosigners can’t pay these loans. And even if they are able, most won’t until significant resources/consequences are brought to bear, which is so labor intensive it’s hardly worth it since a lot of time, there is no money there, anyway. Systems like this weren’t meant to operate like that; once people stop cooperating voluntarily, they collapse.
Here’s the truth- over 30 years ago, people that I worked with used to laugh and joke all the time that the student loan program would be broke within a couple of years. The amount of money that it loses nowadays must be off the charts. but it’s hidden.
Most people have no clue how incredibly foolish the system is as its currently constituted.
For a start there are essentially ‘worthless degrees.’ Example: Latin and Greek, or Human sexuality…
Degrees for ‘hero’ markets. eg. Archeology,
Degrees with limited jobs: marine biology, Art,
Degrees for hi-tech jobs: few students, with many poorly educated.
Unfocused degrees: Just about all degrees in the arts.
Think who the beneficiaries are of the student loan. The student, the college, and the lender.
The only party that does not have a risk, yet benefits 100% is the college. You make them co-guarantor.
Better selection, few students, quality degrees, focused on employment. ALL GOOD
What, exactly, is the underlying message?
No matter how bad your college decisions were, your family (and other taxpayers) can still bail you out.
The problem is high school students are ill-equipped to make intelligent decisions unless they pertain to gender and global climate stuff. Colleges, however, should be equipped, if they intend to actually teach students for certain jobs.
Right now, the colleges benefit 100% with zero risk. YOU FIX THE PROBLEM BY HOLDING THEM ACCOUNTABLE.
Yes, it really is that simple.
It’s about time people are going to be held accountable. I can’t wait for all the headlines for these people that they can’t buy a car, get a mortgage, rent an apartment, get a credit card, etc. because their credit is so bad. Some of these people may also get fired because employers don’t like to have to handle paperwork for wage garnishments. Maybe people will start being more responsibile AFTER they learn actions have consequences.
Does that apply to the perverts in our government that are actively colluding to redact all references to themselves or superiors in the Epstein case? Does that apply to Donald Trump and his multiple bankruptcies? Does it apply to those that lied about WMD’s for personal profit? Does it apply to those that commit genocide in Gaza?
34 Felonies and clear evidence of election interference and you still drink the Kool Aid.
I paid off my single student loan and learned quickly not to ever be in debt. I own everything free and clear through hard work.
An entire generation of financially naive young Americans were preyed on by sophisticated bankers with the intent to create Debt Slaves. IMO the wrong people are being garnished…
It certainly should also apply to those people! I agree with you that it won’t
The kids deserve what they get if they take out loans that they don’t understand what they are agreeing to.
I believe in accountability for everyone.
Just one required course in ‘business 101’ in 12th grade would benefit them greatly. How to develop a budget would be a start. What is a contract. What is negligence.
Instead of, what is a girl/boy/other
2 wrongs don’t make a right. Ok 2,000 wrongs don’t make a right……..LOL.
Playing devils advocate.
Frosty , why can’t we expect from them what you did? I did the same thing too and I’m sure we all did here
Was it all the bankers fault? Not the media brainwashing these kids and parents that you have to go to college to be successful? The professors? College advisors?
I think there is more blame to go around than just saying its all the bankers fault
I just found out 2 hours ago that tuition and on campus cost for Marist college was 70,900 in 2025
I am starting to think a college education in the United States of America is more over rated and glorified than my Dallas Cowboys
And that is really saying something.
And David nails it, and gets down voted, which says a lot for the Mish Talk hive mind.
School has become conditioned thinking. Not learning. Being told what to think. The result, most kids are fundamentally ignorant.
Add in mass media and you have brain-washing. It starts with people who think their opinion is right, without ever thinking beyond their opinion.
Yes Frosty anyone guilty on that list should be held accountable
And if they are not then that means these kids do not have to pay back their student loans?
Thanks to Trump the perverts are not being held accountable, and congress is colluding to obstruct justice.
Trumps multiple bankruptcies resulted in the dismissal of his debts.
The student loans are not dismissible and the students are held to a different standard than any other class of debtor.
My impression is that most would pay their debt, but in the case of the truly bankrupt, the debt should be extinguished just as any other debt or class of debtor.
What Bush created in 07 was an intentional and malicious cycle of debt enslavement for one particular class of people (again, young gullible ones).
To me the difference is clear and the lending was predatory.
Hope that helps with the understanding of my position and thought process.
Thank you Frosty.
BTW, there are situations where if you qualify for undue hardship under a 3 part test that the student loan will be discharged but it bears additional costs
I am sure there are many people that could qualify.
Be nice to see a study on how many have successfully qualified
There you go again. ‘Perverts’ front and center, even though you left out pedophiles. It is all part of brain-washing. You think of nothing else.
Um, were the kids ever taught financial planning in school, or how the job market works, how to calculate the best loan? Or what is a legal document?
Nah. they learned global warming, social justice,….
Too many high school grads cannot read at a 6th grade level or do basic math.
So, who’s to blame. The bankers, or the liberal f’ing teachers with IQs around 100?
Americans be responsible? Twenty-four years of below market interest rates don’t encourage financial responsibility. Mix in some nonsense about the value of college indoctrination and you have the opposite of prudence. Those beer parties and all you can eat buffets come at a steep price.
don’t forget the body count……..It really has gotten out of hand. I agree with you MR.
That below market interest rate ZIRP created what I call the bigger house bigger cars less kids syndrome. And it didn’t work out well there either.
Selfish living to excess indeed.
That’s a really twisted viewpoint. What exactly do you expect young people to do? The notion that everyone is cut out to own a plumbing or welding company is obnoxious. What happens to kids whose parents make too much money and can’t help? Choice A= poverty, choice B= probable poverty.
Found the boomer
As I recall, a large percentage of the population went back to school during the Great Recession from 2007-2014. It helped lower the unemployment rate. It was viewed as an opportunity to move up but in fact was the recipe to become a Debt Slave.
Now we find out how well that kicking of the can worked.
Todays act is Trumps BBB and ludicrous war spending.
No wonder gold and silver are rocketing up…
Meanwhile, Donald – he signed his name on loans – would declare bankruptcy.
And he knew that he was going to go bankrupt as part of his strategy.
Trump is a grifter and liar ~ pure and simple.
I have to admit that it would be pretty rough to be out of school by 10 years having to pay $400 per month for a crappy education that did not open doors or create any opportunity that I would not have been able to create on my own without the degree.
Add to that a wife and couple of kids, 2 cars and the insane auto, homeowner and health insurance that provides endless paperwork and limited coverage if it is used.
All these latchkey kids that played video games instead of gaining real world skills are in for a world of hurt as their stretched budgets hit this payment again, right as their insurance premiums go through the roof.
And if they do own that leveraged home? Check the tax bill for this year…
This elevator only has up buttons and they can not get off.
I had only one student loan and paid it off quickly. Watched friends get their loans and party like it was 1999 instead of applying themselves to gain useful and marketable knowledge.
Huge numbers of people are circling the drain right now and with totally corrupt leadership in the Whitehouse, Congress and the Senate?
Look out below!
A rare move by government in the direction of justice.
Woe is them!
Wow. 1000 people are getting their wages garnished. Draconian punishment, to be sure, for the 5,000,000 in default.
Sorry, only 3,000,000 in default, as of today. My bad. /s
Looks like I got downvoted because garnishing wages for one law breaker out of every 3000 is just going too far. How dare those contracts be honored!
Cleaning up the Democrat mess. I have seen many posts advocate responsible government spending. Their advocacy stops when the bell tolls for them. Democrats created the expectation of massive loan forgiveness and extended Obamacare subsidies (originally just a Covid stimulus). Now the bill is due. Democrats have effectively created higher prices in health care and higher education with massive subsidies. I think that Republicans will suffer in the 2026 elections, however. The short term pain will cause lots of voter anger.
Sorry, the mess started when Bush Jr.’s bankruptcy bill making student loans non-dischargeable in bankruptcy, with the government the collector and enforcer of payments.
This completely distorted the risk/ reward underwriting of loans, leading to predatory lending to naive students, and irresponsible infrastructure, staffing, and tuition increases in colleges, not to mention the proliferation of shady profit driven on-line colleges.
correct. don’t give a fuck what party was in charge. it’s uniparty. but you nailed it. i saw this happening with big time wall street pals setting up student loan pools of hedge funds to profit off this shit. they were cunning little runts. used to see their operation as they were on the floor above me at the time.
red v blue pom pom girls fighting is so darling. what are you 14.
Amen! The solution to all your problems is simple: buy stocks! Better yet, own as many income producing assets as possible: bonds, stocks, real estate, a side business, etc. Throw in some bitcoin, gold, silver for roughage and your money pipes will run clean all year long.
But it’s even better if you trade options, the volatility has been amazing! 🙂
Working stiffs are getting clobbered. Meat plant shutdowns in Nebraska and manufacturing in Indiana and now they gotta pay student loans or get non-existent wages garnished.
https://www.youtube.com/watch?v=NOE6S4JU6wk
When does the golden age start (for non-asset holders)?
farmers going broke over stupid trade war. smoot hawley 2.0. amazing how ignorant so many are. and so many vile little twats who think they hit a home run, being born on 3rd base. amerika, fuck yea. when do we send trillions to VZ and cuba and greenland for iraq 2.0. the morons love it. priceless entertainment.
When the printing stops.
printing cannot stop. just make it italian lira or zimbabwe bucks.. just computer cursor currency. summer intern at FED in NY will push the button cross checking the routing numbers.
I agree with the sarcasm and with everything but would add most of the meat plant shutdowns, would you say 1/3 or more of those workers were brought in as a legal immigrants on a work visa? and definitely some were illegal as well. Sad to say on how bad this is because I am sure less than 1/2 of those workers were American working stiffs
Those men an women are what Hillary was referring to as deplorables but hey maybe I am wrong………. But I certainly don’t like that they were called deplorables.
One of my children entered a union apprentiship program right out of high school. He earned a very good starting wage with full benefits and at the same time got schooling within the program. No loans and a good wage however I must admit he didn’t get schooled in Art Appreciation or Gender Studies but I think he will survive. Why should he pay taxes to cover student loan write offs for those that chose to follow a borrowing route?
“Why should he pay taxes to cover student loan write offs for those that chose to follow a borrowing route?”
I keep asking the same thing why I have to pay for social security and medicare leeches and no one has ever given a good answer.
btw you are an ahole
Explain again who are the social security & medicare leeches again please
the free shit army at age 62 and 65 is amazing. i’m astonished of the amount of shit they give me. dual medicaide / medicare is the real home run. some states medicaide is outstanding. pay for aspirins even. and utilities
Your getting Medicaid????
You mean CIA pensions for being the real life John Wick are that low?
Asking for a friend
They send an actual physician to my house once a year to ask some silly questions and do some silly tests. It’s free, plus I get a $100 gift certificate. They can see I see my PCP at least twice a year. Gotta wonder.
Dual medicare/medicaid is one of the few health care programs for the elderly that is about to be affected by the new law; you might check to see if your benefits will be changed.
The answer is because ‘dems the rules. Suck it up buttercup.
Can I borrow that Jojo? LMAO.
“Dems” the rules. That is better than a good one
Because they aren’t leeches. They are collecting from a system that they paid into. It’s not their fault the government didn’t plan appropriately when they implemented the program.
There are a lot of people who are not good working with their hands or don’t want to do so.
For profit trade schools are responsible for a large percent of student loan defaults.
many are such huge scammers. they prey on the dumbfuck veterans from iraq…….wars. know many folks in those places. totally sleaze bag crowd.
Your post made my day. Good for you son. Smart kid.
Sure he didn’t get college credits and is behind the curve on gender studies and Womens vaginal secretions but he will make up for that in real world
Student loans should be dischargeable in bankruptcy.
agree, but the shysters of amerika, saw teen age kids as easy pickings to stick with huge tuitions and loans that the plumbers and accountants and every other debtor can default on their loans. amerika is a scam empire with nazi aspirations.
If the kids are so stupid they deserve what they get.
Nonsense. If they were dischargeable, no private loans would be made. Only Democrats would loan money that was not going to be paid back. The loans can be discharged, but the conditions for discharge are more difficult to meet.
Yes, I forgot to add that government should neither make nor guarantee student loans. Only private loans. With the threat of discharge in bankruptcy, private loans would be few – and only go to students with promise studying worthwhile subjects likely to result in remunerative employment. Student loan volume would plummet. Colleges and universities would see their revenue plummet. They would have to radically pare back their budgets and cut their tuition to woo students. And all would be well in the garden.
50 years ago tuition at state u and ivy league was ridiculously cheap and so was the free money for the truly poor young folks. amerika became a fucking shyster empire of nazis. fuck over the youth is the little side hustle in college loans.
that’s awfully cute that you are still caught up in the red v blue pom pom girls…….it’s one big uniparty of nihilist cunts in pax dumbfuckistan. my god the idiocracy is astounding.
In the United States of America, there should never be a loan made that is not dischargeable.
Sure but then who would loan them money knowing that the minute the graduate and are broke (as most students are) they’ll discharge in bankruptcy?
get a history book or talk to some college grad from 40 or 50 years ago. ever heard of the GI bill. now that was some big time free shit army and was a net good for society. let’s keep our youth jacked up on fentanyl and in debt. great plan. i’m sure you had it rough. did you have to walk 10 feet over shag carpet to change the channel on idiot box. no remote control in the hard old days
No GI bill in Canada I’m afraid and I went to university in the 80s.
Maybe if the banks were worried about getting paid back there would be some heat on the establishment to break up the monopolies and cartels so we would have real competition for wages. But you would have to get the government out of the student loan lending industry before we could even have that conversation.
It was a hot-button issue. In modern times, almost all US goofiness is caused by hot-button issues. Talk radio fare. They had some very rich doctors who were not paying back their loans. It got everybody mad as H. One of the people behind making student loans non-dischargeable was Sleepy Joe Biden. Lol.
Then you probably wouldn’t have student loans as people would take them out and then file bankruptcy, You should NOT be able to file bankruptcy on anything. You make an agreement to get money and pay it back with interest. You should be required to live up to your commitment even if it means having all your assets seized and paying off the debt for the rest of your life. ACCOUNTABILITY!!!
Since I was a college student in the 1970s the Median Family income has increased approximately 350%, while tuition at at my alma mater has increased 2000%.
What type of sick society preys on it own children, indenturing them to the financial elite with claims against their future earnings. What happens, like now, if those future earnings fail to materialize.
A society cannibalizing its children will not survive for long.
the root cause is nihilism. read ominous parallels. it is what happened to germany under bismark. made the germans so vile and dumb that hitler had easy pickings for his insanity.
What type of sick society preys on it own children? The kind with a government that made an ocean of cash available to encourage kids to go to college. Over time, this bid up the price of tuition at almost every 2- and 4-year institution in the country, because demand for college education increased much more rapidly than the supply of seats at the institutions.
I take issue with you characterizing the student loan borrowers as victims. No one held a gun to their head. They had free will.
I took out student loans, and I thought carefully about the downstream impact and only borrowed what I was comfortable taking on. I also shopped rates and applied to grants programs to manage the future cost as well. I sought advice from trusted adults too.
In the end it was my own decision and I took responsibility for the consequences. Time for the other borrowers to do the same.
I paid off all my loans. So sick of the Oppressor vs. Oppressed narrative that seems to have infested every political discussion recently.
Yes, 18 year olds are known for sound financial planning, and having the education and maturity to make the most important financial decisions of their lifetime.
That’s where the parents come in…
these people are morons. every other type of loan can be discharged. just business. we preyed on the teens and really reamed them good. kind of like trump and epstein……. did to little boys and girls………
If the colleges had not significantly increased the number of administrators per student, and given every employee lavish pension benefits, everything would not be out of whack.
I spent 18 years working for the University of California, where the annual pension benefit after staying 40 years would have been 100% of the highest point of my salary over tbose 40 years.
exactly. the people like you screwed the youth. thank you for your service.
Universities? The source of liberal hive mind? Say it ain’t so!
All enabled by the poisonous touch of massive taxpayer money.
Almost no university employees get pensions; they nearly universally have 403bs (which are like 401ks). State employees are the exception.
They don’t get pensions, *now*. Prior to 2013, University of California gave out lavish pensions. I’m sure other universites were giving out lavish pensions before that date. Current students are stuck with the legacy.
PS I got a 403(b), a 457(b), a defined benefit pension, and one other kind of account I rolled over into an IRA when I left, which I do not recall the particulars of.
It isn’t the society. It is the results of incentives created by government, as they corruptly buy votes.
Loan made in a free market would never have created the grotesquely venal academia that blights America.
Average monthly loan payment $400 in a land where many do not have $500 saved for an emergency
Pain is coming
By the way, where’s my $5000 DOGE dividend check or my $2000 tariff kickback?
I don’t expect to receive any dividend checks or kickbacks from the government but will be paying lots of tax dollars for the 2025 tax year. The last kickback I got was around 2001 for $600 which every Federal taxpayer received.
And don’t forget TACO is abolishing the IRS….lol.
Do you not have mortgage interest + state/local taxes to deduct? Adjusting the SALT cap is a huge boon to me living in Florida so that’s my refund.
if you pay income taxes in pax dumbfuckistan you are doing something wrong. the rule book is the tax code. very simple to set up life to never pay income taxes. the knuckleheads and lumpenproles and employee class of amerikan nazis pay the freight. just like it was meant to be.
Lumpenproles………..LOL! Thank you, Honestly, I had to look that up.
Anyone else????
The standard deduction on a joint tax return for 2025 is 31,500.
There are millions of homeowners that do not even itemize anymore, at least on the federal.
And that salt cap begins to get phased out over 500K of income
Trump devalued the tax benefits of homeownership, nothing changed under biden with respect to that so we have what 11 years of that now
Yes the increase in the SALT cap up to 40K helps.
middlebrows don’t pay any income tax at fed level. never have in 50 years. only the idiots who don’t know how to set up a life if making big bucks is the goal. the professional class of twats. the real owners of the empire pay zero. haven’t payed income tax since the early 80s. legally of course. some of those years i had negative tax. with the EITC and child tax credits………..it’s a game of life. read the rule book before you start playing. the tax code is one big free shit army treasure trove. so easy to set up your life accordingly.
Ah, I file head of household (claim kids) and the misses files herself.
That way we get her deduction and my itemization which gets higher than 31500.
Yet can afford an AVERAGE $750 monthly car loan payment.
They’ve shat on every class of voter at this point… it’s pretty clear they plan to rig all future elections.
The majority of those affected can afford to pay back their loans. FOr the others too bad so sad. I had to pay my loan, my wifes loan, my kids loans. Maybe go back to school for a trade so you can have a marketable skill
plumbers can default on their loans. like everyone else. you sound really stupid and vile. hat tip to you, little nazi.
Disgusting leftist comment with your ridiculous Nazi insult of others who favor responsible government.
yes. you got me. i’m a lifelong classical liberal, called a libertarian in usa. of course amerikans are nazis. that’s obvious. national socialists rounding up people with masked unmarked gestapo and bombing the fuck out of poor people all over the world. MAGA
Americans are too fat and lazy to be Nazis. The Nazis encouraged hard physical exercise. Of course, there was Goring.
Dude really? That was a little harsh. What the hell is wrong with expecting someone to pay back their student loans??
Here is the problem. Not every one should go to college.
A big part of the problem in America is too many parents & kids think you have to go to college to be successful AND you have to go from age 18-22.. Why on both accounts?
Many do not even know what they want to major in, even if they think they do.
Nothing wrong with going to a community college for a year or so and getting a better idea of what you really like and what you want to do and get some guidance that the skill is a marketable skill. And it might turn into a trade or more tech nuanced skill
It doesn’t help that too many of our universities have become indoctrination centers with a serious left wing slant, but oh say that and you get downvotes from all the democrats and liberals here
Well who the hell controls our education system in this country?
Colleges have been one of the only entities in America over the last 25 years that had pricing power with almost no alternative. Although now in NY the State Universities are getting a higher level student because either the parents can’t afford 70,000 a Yr for say Marist College or Vassar on campus with R&B or they just do not think its worth it.
They are not teaching marketabe skills
I got in trouble for saying this months ago but apparently a political science major with a double minor in Womens vaginal secretions and Free Palestine doesn’t pay the bills
what are you Mish’s deputy with a little polite badge. give me a ticket for being a rude asshole. i’ll rip it up and piss on it.
impossible to be harsh living in an empire of nazis. dude, your analysis is so flawed. why would anyone care what other people decide to take classes in. what are you a nanny state disciple. SUNY albany in 1978 was basically free for middlebrow and working class folks. so fucking cheap and the pell grants covered the truly underclass. and for anyone with well to do parents, the yearly tuition was a joke. i’m always amazed at all the assholes out there that want central planning in what people study. and where they go. i went to boces in hs. because hs was so easy i decided to learn auto mechanics as well as get a regular HS diploma. shit was easy as fuck in the 1970s. same with now. i’ve been going to college for fun for decades. the students at brooklyn college and boro of manhattan CC are immigrants or immigrant kids who work their balls off and live in apartments and houses with 3 and 4 generations. the kids that go away to college to 4 years at state u or ivy. are hard working for the most part. and who cares anyway. i’m not their nanny. but the amerikan society fucked over the youth. the loans and tuition costs made up by adults, and stick them with loans that cannot be defaulted like every investement banker or plumber is basically scumb bag mafia shit. all these old assholes in amerika are so fucking vile. total nazis. bombing the world. fucking over their own young citizens. just ducky.
LMFAO……..Ok , let me read the 2nd sentence now.
I don’t know how you read all that about me.
Its not my fault they took out loans they cant pay back. And a lot of it is because their degree is or was worthless. Well suck it up and get a job in something else to pay it back. That was my point.
These kids first taste of adulthood is default on my contract I signed?
I don’t give a dam about all the other backgroud noise about not having good financial advise etc etc etc
Then don’t borrow the money
you ought to apply to the trump admin as a central planner in what students study and where. you seem to have it all figured out. what a talent.
You are really on a roll today, wow.
Here is how I was raised. Work hard , think before you speak(Ok, I gave that one up posting here) and your word and honor means something.
You signed for the loan. Work it off to pay it back
I do not feel sorry for these kids in that they have to pay this back in some shape or form.
Its not my fault these colleges are sucking your money and ripping off your kids
Again, for profit trade schools hold an outsized number of defaulted school loans. Apparent the graduate welders and electricians didn’t learn enough about gender studies to get a decent job.
LOL!! I am sure you are correct. But that has to be region by region
In NY, there is a shortage of welders and an electrician apprentice makes $$50 an hour in the private sector, no union.
The union work force yes is struggling.
PS: More gender studies classes would not have helped
Not to worry as the continued melt-up of the equity market will more than offset any negative economic issues.
too bad a net worth of million dollars in 2026 is working class. the dow would need to go 10x to be meaningful
I get the sarcasm………
It is so bad now for many that even if that were true well only what 10 to 15 % of America owns equities and our U.S. equities are owned more by non U.S. citizens
That is how fucked many are.