JonFish85 · HackerTrans

9 лет назадdiscuss

Why is that interesting? After working for 40 years, saving religiously, it’s entirely possible that they’re living a solid middle class lifestyle not much different from someone else who also lives the same lifestyle but rents and doesn’t save money.

JonFish85

9 лет назадdiscuss

I'm not thinking just SS. Imagine in 30-40 years when SW engineers are retiring with their $5m 401k, but their neighbor is still barely making rent at their service-level job. I imagine there are many more people who have foregone retirement savings to pay off their massive college loans.

Politically, the story would be something like this: why should you, a multi-millionaire SW engineer who hasn't paid taxes on your 401k not pay your fair share so that these other folks can spend some time with their families? After all, they were the victims of predatory lending! Close the loophole that allowed your opulent lifestyle!

And remember, 401ks are a multi-trillion dollar market of untaxed dollars. Do you really think tomorrow's politician in 30-40 years is going to miss that, never mind their constituents?

JonFish85

9 лет назадdiscuss

To me, this is another implementation of the housing bubble:

- People see college graduates making a lot of money

- Politicians make it a priority to make it easier for people to get loans to go to college

- More people take out loans to go to college

- Colleges realize there is no downward pressure on price and raise tuition.

- Politicians continue to make it easy for people to go to college

- People take bigger loans to go to any school they wish

Until the music stops, things are sort of OK. People's kids can go to any school they can get into, regardless of cost. Colleges can raise their tuition with no consequences.

Politically it's a difficult problem, because the old solution of making more money available is getting out of hand, but what politician wants to stand up and tell people they can't go to the college of their dreams just because they can't afford it?

During the housing bubble, it was the cycle of "people want to own a home" => "politicians say everyone should be able to own a home and make loans available" => "companies make money packaging up these loans" => "prices go up" => "people can't afford homes" => "politicians make more money available". Until the music stops, everything is great -- everyone is making money, everyone is getting what they want. Then it unravels...

JonFish85

9 лет назадdiscuss

> People who came from my alma mater who majored in drama can't say the same.

Don't worry, your salary gives them a way out too. And I'm not just saying that to be snarky, I think it's very likely what will end up happening: you'll end up paying for their poor choices one way or another. If it's not directly via taxes to pay off their student loans, it'll fund their retirement.

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