It's the economy, stupid! (Finance-related news)

[mallister]

Explain VAT to me, as to why this would be a positive thing for us to implement vs how we tax things now.

[Zetanio]

Would it be a positive thing? Possibly.

It's a tax on everything at every stage. Think of it as a neutral tax. No one escapes it. Everyone pays it. Exports do NOT pay it. Imports DO pay it. Company buys goods? They pay the tax. Company buys supplies? They pay the tax. You buy the product? You pay the tax.

[Byrthnoth]

And, importantly, more than 160 countries around the world use it so there are a lot of good/bad case study opportunities.

[Zetanio]

And, importantly, more than 160 countries around the world use it so there are a lot of good/bad case study opportunities.

+1

[Zetanio]

https://www.bloomberg.com/news/artic...t-to-get-worse

I have read the tea leaves successfully in this case fam.

[TsingTao]

Fuck, I just finished reading that very article.

[Roranora]

For all my mistakes, missed opportunities, and poor decisions, I suppose I should be very grateful I was able to pay off my student loans.

I still feel poor and insufficiently prepared for the future.

[Moss]

For all my mistakes, missed opportunities, and poor decisions, I suppose I should be very grateful I was able to pay off my student loans.

I still feel poor and insufficiently prepared for the future.

I never had student loans. I am the 1%.

Sent from my Pixel 2 using Tapatalk

[Zetanio]

I never had student loans. I am the 1%.

Sent from my Pixel 2 using Tapatalk

wewfam.

I have friends with adjustable rate student loans.

They are totally getting fucked right now.

[dasva]

So you're telling me an ever increasing number of loans for increasingly expensive degrees that don't translate to jobs that would help them pay it back could cause problems in the future?

[synistar]

I went to college at the right time (graduated 2005.) Locked in at 2.75% right before the recession wew!

[Zetanio]

I'm saying that the rise of predatory for-profit schools in the US is going to spark a debt crisis that's gonna shitfuck a lot of loan providers.

But maybe I'm wrong (Definitely not wrong)

[Roranora]

My friends whose parents paid their college tuition and expenses may never really grasp the boost they were given. Of course, both of their dads own businesses for which they each work. So they not only didn't need their degrees, but they've also never had to actually look for a job. College was just a $50k-80k, 5-year social event for them.

I'm enviously one degree of separation away from some serious privilege.. over here with my modest privilege.

[Zetanio]

I'm coming to terms with the fact that I'm gonna need to go to B-School. I really don't want to.

[synistar]

Half correct Zet. The Great Recession really fucked over a bunch of public colleges/universities. Budget cuts and freezes shifted more of the burden from the tax payers to the students. Tuition at the public university I attended doubled in an 8 year period. Median wages continue to be flat while the cost of attending college continues to increase at both private and public institutions. I sure as hell don't want to get a Masters degree when certifications are sufficient.

Though I'm pretty much fucked if I want to get a Clinical Lab Scientist License since my job of 12+ years doesn't count as clinical experience.

[Zetanio]

Half correct Zet. The Great Recession really fucked over a bunch of public colleges/universities. Budget cuts and freezes shifted more of the burden from the tax payers to the students. Tuition at the public university I attended doubled in an 8 year period. Median wages continue to be flat while the cost of attending college continues to increase at both private and public institutions. I sure as hell don't want to get a Masters degree when certifications are sufficient.

Though I'm pretty much fucked if I want to get a Clinical Lab Scientist License since my job of 12+ years doesn't count as clinical experience.

Oh, I know about that whole thing too. My point was that the rise of for-profit schools is the straw that's breaking the back of the whole thing. The fact that schools were playing VERY fast and loose with their endowments and their funding at the time also makes it even worse. Schools are businesses now and it's a staggeringly bad look for American education on the whole.

I'm pretty excited to watch it blow up so we can get back to having a great post-secondary education level in this country. It'll probably take another 20 years but we'll end up better off.

[Moss]

My friends whose parents paid their college tuition and expenses may never really grasp the boost they were given. Of course, both of their dads own businesses for which they each work. So they not only didn't need their degrees, but they've also never had to actually look for a job. College was just a $50k-80k, 5-year social event for them.

I'm enviously one degree of separation away from some serious privilege.. over here with my modest privilege.

I was lucky enough to get a full scholarship + student job AND have parents that would throw me a few hundo for expenses when I needed it. It was never lost on me how good I had it, though.

Sent from my Pixel 2 using Tapatalk

[Byrthnoth]

Full ride here 3

Grad school paid me (poorly)

debt free 5 lyfe

[Cantih]

This is one of the cases where my life getting a bit fucked resulted in it not getting completely fucked.
The plan was to get a job for a couple years, save up, then go to college. But I wasn't able to get work, didn't have the money to go (and it was very likely I would have gone to a for-profit school), so never ended up with any debt. Yay.

I did eventually spend some time in community college (which in CA/L.A. is a different beast than Community or other things might make you think), that I was able to do because of a "you're poor and local, we'll waive the per unit tuition" program. Still had to cover books, but I had 2k in STAR testing scholarship money that covered 2 years.

[Zetanio]

This is one of the cases where my life getting a bit fucked resulted in it not getting completely fucked.
The plan was to get a job for a couple years, save up, then go to college. But I wasn't able to get work, didn't have the money to go (and it was very likely I would have gone to a for-profit school), so never ended up with any debt. Yay.

I did eventually spend some time in community college (which in CA/L.A. is a different beast than Community or other things might make you think), that I was able to do because of a "you're poor and local, we'll waive the per unit tuition" program. Still had to cover books, but I had 2k in STAR testing scholarship money that covered 2 years.

Community colleges are actually dope and don't get enough credit. Getting two years of a 4 year degree at a CC and transferring is the smartest way to do college if you're paying yourself.