International Write-Off Day – 2024

During his 2020 presidential campaign Joe Biden promised to address the massive college debt of millions of graduates and non-graduates paying from 4-8% on the loans. Once elected he proposed a debt relief. THe GOP rejected this measure mostly protesting that not everyone had to go to college and debts had to be paid, except those by banks, the rich, and corporations. Stymied by the conservatives in Congress, Biden suspended payment during the Covid crisis and allowed millions of people to live almost normal lives without paying 20-40% of their wages to the government, however that relief is coming to an end this month. Federal loan offices are attempting to issue millions of payment plans without any success. The former president of Purdue has accused the president of buying votes. As much as forty million voters, although Plan B has been pared down to 10-20 million with plenty of restrictions, so the Republicans will feel free to offer more tax cuts to the rich. Former President Donald Trump sided with the Supreme Court.

Last year pseudo-president Trump announced to scores of followers, “Today, the Supreme Court also ruled that President Biden cannot wipe out hundreds of billions, perhaps trillions of dollars, in student loan debt, which would have been very unfair to the millions and millions of people who paid their debt through hard work and diligence; very unfair.” ignoring that over two-thirds of the voters see the merit of forgiveness.

Last January Rick Scott R FLA introduced in Senate (01/25/2023)
Debt Cancellation Accountability Act of 2023, which prohibited the Department of Education from providing class-based loan forgiveness unless funds have been specifically requested and appropriated for this purpose.

HIs fellow party members applauded the act. It was never introduced to the floor in the 2023 session, since any legislator voting for such an act would be ousted from government by an angry debt-ridden populace. The Once and Now President Trump an estimated $738 million of debt coming due over the next three years. While not capital wealthy, Trump has billions on paper, albeit inflated value verging on fraud. If elected to a third term, then he could conceivably forgive his debt, which is about 2.3% of all college debts.

Caesar crossed the Rubicon with huge debts owed for the Conquest of Gaul, despite having ravaged the land for gold, slaves, and land. Whatever money he was able to squeeze from Crassus, he used to deed the poor, thus threatening the debt by which the powerful senators controlled the Romans. Caesar reneged on the debt and the Senate took its revenge. I used to think that Caesar was killed for paying off all the debt of the hoi polloi. I was wrong.

The GOP promise to reenact the same tragedy in the upcoming year.

In 2008 I owed $120,000 to the credit cards after using the plastic for cash advances to run my business reeslted in 31% rates. I never paid off a penny. Of course I have no credit. I own nothing. The banks still ask if I want a credit card. I refuse them. I don’t need anything capitalism is selling. Well, maybe a motorcycle.

Personally I’m for a radical redistribution of wealth, however most Americans still believe that one day they will be rich and pray to their God to be free of taxes. By the way the IDF has received $12 billion this year and the Pentagon has been allotted bt President Joe Biden’s Fiscal 2023 National Defense Authorization Act over $816.7 billion. War or education or infrastructure?

Make war. Make money.

GOP or Democrats.

All the same.

Only one choice for the We Are Us.

Stop paying your debt. Debtors have the power. Deconsume.

International Write-Off Day and soon.

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