Monthly Archives: October 2020

Archive of posts published in the specified Month

Oct
20

Let delinquent borrowers keep driver’s licenses

first_imgCategories: Editorial, OpinionThe following editorial appears on Bloomberg View:Even by government standards, it is a colossally dumb idea: revoking someone’s license to work as a way to get them to pay off their student loans. Others struggle to find work.In 19 states, those who fail to repay loans can lose their professional license to work. At risk are nurses, teachers, social workers, engineers, beauticians, small business owners, and nearly anyone else who relies on a state certification.In South Dakota, those who fall behind without entering a repayment plan can lose their driver’s license, making travel to work difficult if not impossible.There is no reliable data on the number of Americans who have had their licenses suspended for failure to repay their loans, but even one is too many.Other than bringing back debtors’ prisons, it’s hard to imagine a more counterproductive idea.It’s also hard to say who is harmed more by these laws: the borrowers who lose their ability to provide for their families, or the states, which lose their best chance of recovering tax dollars while also nudging families toward public assistance.States have a right to attempt to recoup loans they make or that are made by public universities. Yet many states do just that.Student loan debt has more than doubled since 2009 to $1.3 trillion today.The average borrower in the class of 2016 left campus more than $30,000 in debt — triple the level from 1990, while earnings for newly minted grads have remained flat.Many are struggling to keep up with payments.Of the 22 million Americans with student loan debt, 30 percent are in default (at least a year behind on a payment) or delinquent (at least a month behind).The tax bill passed by the House, which would eliminate deductions for interest on student loans, may worsen this situation.Many with student debt they cannot repay did not complete their degree or received a diploma that is worth little more than the paper it’s printed on.center_img But there are far better ways to go about it.Tax credits can be withheld. Wages can be garnished. Liens can be placed. As a last resort, suits can be filed.In other countries, loan repayments are made through tax returns once borrowers’ income reaches a certain threshold.The U.S. has begun to experiment with an income-based program, but repayments aren’t tethered to tax returns.A tax-return-based repayment system is something Congress should consider.Until that comes to pass, states should stop depriving borrowers of the right to work.More from The Daily Gazette:EDITORIAL: Thruway tax unfair to working motoristsEDITORIAL: Urgent: Today is the last day to complete the censusEDITORIAL: Find a way to get family members into nursing homesEDITORIAL: Beware of voter intimidationFoss: Should main downtown branch of the Schenectady County Public Library reopen?last_img read more

Oct
20

Trump repeats his cowardly old ways

first_imgCategories: Letters to the Editor, Opinion Coward Trump strikes again. He was a coward during Vietnam. He would never run toward gunfire to save someone. He has no stomach to fire someone face to face except on reality TV — especially when they are smarter and have more integrity in their little toe than he has in his oversized body. Also, once again the NRA forced him to back down after big talk of not being afraid of them. These are facts, not fake news. Jeffrey DareLathamMore from The Daily Gazette:EDITORIAL: Thruway tax unfair to working motoristsEDITORIAL: Beware of voter intimidationEDITORIAL: Find a way to get family members into nursing homesFoss: Should main downtown branch of the Schenectady County Public Library reopen?Albany County warns of COVID increaselast_img read more

Oct
20

Bristol industrial

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Oct
20

Berkshire councils show L&G that size really matters for Bracknell scheme

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Oct
20

Barclays to sell £900m of property loans

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Oct
20

Regeneration: Rogers’ revelation

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Oct
20

Hemingway investors hope for more

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Oct
20

Reach for the Skypark

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Oct
19

UAE says ready for ‘worst case’ scenarios as coronavirus spreads in Middle East

first_imgIt was too early to ban public gatherings in the business, trade and tourism hub, added the official. Dubai is due to host the Expo 2020 world fair in October for six months.The UAE has reported 13 cases of the new coronavirus since Jan. 28, three of whom have recovered.”We are quite satisfied that we have taken all the necessary steps needed to preempt the spread of the virus at all levels, without pushing the country into a state of unwarranted panic,” the UAE official said.The disease, which originated in China late last year, has infected about 80,000 people and killed more than 2,700, the vast majority in China. Kuwait, which last week evacuated 700 people from Iran, said on Wednesday that the number of people diagnosed with the virus had risen to 25 after 13 more cases were confirmed.Bahrain, which has suspended flights to Dubai, on Wednesday reported a rise in cases to 26, some of whom had traveled through the UAE. Oman has recorded four cases.Major Gulf bourses slid on Wednesday, mirroring declines in global stocks over the spread of the virus. Air Arabia extended losses from the previous session to trade 2.8% lower, after the UAE on Tuesday suspended all flights to and from Iran.Several Arab countries have suspended flights to Iran and other destinations and imposed shipping restrictions.Kuwait has barred foreign ships, except those carrying oil, from departing to or arriving from several countries, according to a Feb. 25 notice seen by Reuters.Topics : The United Arab Emirates, a major international air transit center, is prepared for “worst case scenarios” as the new coronavirus spreads in the Middle East, a government official said on Wednesday.Three Gulf Arab states recorded their first new coronavirus cases this week, all in people coming from Iran, the UAE’s neighbor across the Gulf which on Wednesday reported a total of 19 virus-related deaths, the most outside China, and 139 cases.UAE authorities have enough facilities to quarantine patients and will be carrying out surveillance on people entering the country, said the official from the UAE National Emergency Crisis and Disasters Management Authority.last_img read more

Oct
19

Damascus says will down ‘enemy’ aircraft over northwest Syria

first_imgTurkey, meanwhile, said it was pursuing a military operation dubbed “Spring Shield” in northwest Syria after regime air strikes on Thursday killed 34 Turkish soldiers.The Syrian Observatory for Human Rights said Turkish drone strikes killed 26 soldiers in northwest Syria on Saturday.That brought the number of soldiers killed in Turkish drone strikes and bombardment since Friday to 74, said the Britain-based monitor, which relies on sources inside Syria.Ten Hezbollah fighters and four allied militiamen also died, the Observatory said. The Syrian military Sunday threatened to down any aircraft over northwest Syria after Turkish drone strikes killed dozens of pro-regime forces in the embattled region.”Syrian military high command announces the closure of the airspace for planes and any drone above northwestern Syria and especially above the Idlib region,” state news agency SANA reported a military source as saying.”Any aircraft breaching our airspace will be treated as enemy aircraft that needs to be downed and prevented from carrying out its goals,” the source said. Since December, Russia-backed regime forces have led a military offensive against the last major rebel stronghold of Idlib in northwest Syria, where Turkey supports some rebel groups.The onslaught has caused almost a million people — mostly women and children — to flee their homes and shelters, the United Nations says.Neighbouring Turkey already hosts around 3.6 million Syrian refugees, and is reluctant to let more in.Tensions have spiked in recent weeks between Ankara and Moscow, whose relationship has been tested by violations of a 2018 deal to prevent a regime offensive on Idlib.Turkey deployed troops to observation posts in northwest Syria under that deal.Syria’s war has killed more than 380,000 people and displaced millions since it started in 2011 with the repression of anti-government protests.Topics :last_img read more