Congress want to do something for the "little" people?

[Mythsaje]

Here's an idea. Why not declare a one-time government debt amnesty? Clear the balance sheet and give everyone a second chance? Student loans, Tax Debt (below a certain income level), child support owed to the State?

It would be a shot in the arm for a LOT of people who are trying to put their lives together for one reason or another and free up a LOT of money for economic stimulus. Millions of dollars are being spent just pursuing this money, one way or another, much of it possibly impossible to actually get. You can't squeeze blood out of a stone, after all.

I know, it's a crazy idea and I'm sure people can come up with a thousand reasons why it shouldn't be done.

But a lot of citizens are put in untenable situations because of debt they'll never be able to repay, or that'll take years to repay. Why not wipe the slate clean one time and give all these people a chance to start over?

Call it my goofiest idea of the year.

[mike_c]

1. a debt amnesty would utterly transform my life....

I pay close to $1000 a month in student loan payments. I'd be able to afford a home if it were not for that debt. Man, what a difference that would make-- I'd go from struggling lower middle class to relatively comfortable and secure in one jump.

[Mythsaje]

2. I think it would be a wonderful gift to the people...

Student Loan debt is a terrible burden, often hoisted upon people who could really give the economy a shot in the arm if they could just get out from under it.

[Laelth]

34. University education is free in the UK ...

... but you've got to do well on your "A levels" to get into a really good school. Even the not-as-good schools are free, I believe, if you get in. Not much student loan debt there.

We are so backward in the US!

-Laelth

[undeterred]

21. Me too.

[porphyrian]

3. As a broke guy drowning in debt, I love the idea.

However, I imagine that's what I'd be expected to say in my position.

[kineneb]

4. not goofy at all

in fact, (fundies, are you listening?) in the Old Testament there is this thing called a Jubilee Year (I think that is what it was called), in which all debts are forgiven and slates are wiped clean. If I remember correctly, it was supposed to be every seven years, so people would never get too far in debt. Of course it wouldn't work with our 30+ year mortgages, but for other debts... hmmm. No more Chapter 7 or 13!

Think about that for a moment...

[Codeblue]

5. Thank God

I think that really needs to be done. Of course, I have student loan debts to start paying in less than a year. But I really think it's a great idea.

Sometimes I feel like giving up because of that mountain of debt. Coupled with the way the job market has been...sometimes I don't think I'll ever be able to pay it off.

If Congress did that...I would have new hope and love for this country.

[Mythsaje]

8. It does seem an insurmountable barrier to achieving anything, doesn't it?

I'd like to see someone bring this up in the public sphere.

[Ilsa]

6. I don't understand what "child support owed to the state" is.

I really need clarification on it. I know someone who has been in jail for lack of child support, but I fail to see how that helped anything. Is that what you are talking about?

[Mythsaje]

7. If a custodial parent receives welfare

the state goes after the other parent to make up the money given to them by the State. Thus a portion of the back child support debt is owed to the State rather than the custodial parent.

Does that help?

[Ilsa]

9. Yeah, but it seems like under many conditions,

a custodial parent could be getting child support and still need welfare assistance. I suppose there is a formula for that? (I'm probably getting off-issue here, so nevermind.)

[Mythsaje]

10. No, it's cool...

I'm just suggesting the elimination of the government's portion of the debt. In many cases, I think it would make it MORE likely the other parent could receive more money. It seems a bit ludicrous to me that the State enforces the law for the "good of the children" yet considers its own interest to be just as, if not more, important, in the end. In fact, if someone overpays their monthly obligation, the money doesn't go to the back debt owed the custodial parent--it goes to the state first. Any extra money always goes to the State, with the custodial parent only receiving any extra after the State's interest is met. They don't even split the difference with the other parent. At least, that's not how it works in Washington State. Things I've read suggest that it works much the same way elsewhere as well.

[Ilsa]

14. Crazy, isn't it?

"It seems a bit ludicrous to me that the State enforces the law for the "good of the children" yet considers its own interest to be just as, if not more, important, in the end." --- That pretty much says where their priorities are.

[bobbolink]

32. As long as it went to the child and custodial parent.

Otherwise, NOPE... no more skating free on child support!!

[Mythsaje]

33. What I'm talking about is making sure that

the balance to the state would be forgiven... the portion scheduled to go to the other parent would remain. And, without the state taking its "share," any overpayments would go to the custodial parent rather than the state.

[PaDem]

11. interesting idea, and interestingly it can be Biblically supported.......

but it would never fly.

[Mythsaje]

12. Like I said...it's kinda goofy...n/t

[JeffR]

13. K & R

:kick:

[Joe Chi Minh]

15. A great idea.

[Vincardog]

16. Why not start by repealing the Bankruptcy Bil they shoved down our throats?

Then take Al Gore's suggestion and end income tax and replace it with a CO2 tax on business?

[Mythsaje]

17. I wouldn't mind seeing both of these things come to pass...

But I DO think it's unfair that some people are sitting under a massive burden they'll never escape, or will suffer for years before they escape, and no one is really doing anything about it.

[The Backlash Cometh]

18. How about giving us little people an agency that will help us clean

up corruption at the local level? Sort of an Attorney General that actually works FOR the public.

[Mythsaje]

22. I'd like to see that too, frankly...

I'd actually like to see a CIVILIAN government oversight commission that wasn't under government authority...sort of a permanent grand jury that cycled citizens through on a semi-regular basis.

[The Backlash Cometh]

23. And one that can have oversight on city attorney's too.

[Mythsaje]

24. Are you talking about prosecutors? Or just all attorneys in a city?

I do think we could use an oversight committee to watch for prosecutorial misconduct. It's one of the things wrong with our justice system, and I'm not sure the judges, themselves attorneys at heart, do enough to curtail that sort of thing.

[The Backlash Cometh]

29. The Bar Association is a failure of our society.

How do you think corruption can run amok? They do awful things on a local level, knowing that sometimes, it's easier for a homeowner to move out of the community than to deal with the aftermath of corruption.

[Mythsaje]

30. Sure...attorneys have a certain self-interest in protecting other attorneys

at least, unless their offenses are TOO grievous.

My Dad says that at least SOME judges should be pulled from the general population, not the lawyers, simply because they're supposed to represent the common people...not the new Aristocracy. Lawyers, to him, represent a caste separate from "the people."

Hmmm. Wonder where I get some of my attitudes. LOL

I think we could use more civilian oversight into our government...permanent grand juries, for example, with subpeona powers, to look into things that are generally swept under the rug.

[genie_weenie]

19. This will never happen. Governments *need* debt

to be held over the heads of the next generation in order to ensure there will be people willing to do join the military for the econmic benefits, to continue to profit from class strife and to justify their existance.

[Mythsaje]

20. Would that be reason # 2 or reason # 3

"Why it would never work?"

:D

I know there's a thousand of them. LOL

[satya]

25. I've often thought student loans for teachers and other public servants should be forgiven.

Of course, I would prefer EVERYONE get a free college education, but forgiving loans for those folks who agree to work in public service professions for a minimum period of time would be a start and probably easier to sell to the conservatives.

[Mythsaje]

26. Yeah...I've thought so too.

Teachers and doctors should be on the top of the list.

But, then again, I tend to think educating our young should be more important than building bombs or missiles--silly, liberal me.

[puebloknot]

27. What's this? Don't you know that 2 + 2 is 5?

This isn't a goofy idea; it's a brilliant idea.

Young people leave college, if they even get to go to college, burdened with a debt that just makes them hopeless.

Freeing up that money would play right into Ronnie Reagan's "trickle-down" economics.

Of course, you know you're a Commie Pinko Socialist Crazy, don't you? :)

[Mythsaje]

28. I've been told that on occasion, yes...n/t

[PsychoDad]

31. Government Debt Amnesty

IRS debts, Student loans, etc...

Be a great gift to the American people and a shot in the economic arm.

peace.