Mike Zink

@cygnusjen @AllwormsNOapple @CrudeCO77 @DerrickEvans4WV This is just a variation of compound interest, which is exclusively a math calculation.

@AllwormsNOapple @CrudeCO77 @DerrickEvans4WV This isn’t a math problem.

She borrowed $49,548.74 in student loans. 120 payments later, she’s paid $25,558 — and now owes $50,121. She’s paid on it for years and still owes more than what she originally borrowed. The entire thing is a SCAM to enslave the young people.

@MakeMeASammitch @Cassiel_Solos @CrudeCO77 @DerrickEvans4WV During the period leading up to the Global Financial Crisis there were negative amortization housing loans. Some understood but thought the music wouldn't stop and they could flip for more. Others just had no clue.

@Cassiel_Solos @CrudeCO77 @DerrickEvans4WV Jfc I found the dumbest person on X. That is not how home and auto loans works. It’s basic finance you simp. You can do an interest only home loan and guess what, you still owe all the principal.

@BigGovSucks2026 @Brandon25104 @CrudeCO77 @DerrickEvans4WV Not beyond an introductory teaser, anyway.

@BigGovSucks2026 @Brandon25104 @CrudeCO77 @DerrickEvans4WV Based on her loan size, the payment size and remaining balance her interest rate is around 5.25%, probably a bit less. I know of no CC w/ a rate that low.

@JerrySprin22334 @HikeGhost @DerrickEvans4WV Based on the numbers presented she is paying about $213 / mo on a $49+k loan. That is not enough money to cover the interest on a loan of that size with an interest rate of 5.25%, which is not usury

@HikeGhost @DerrickEvans4WV Usury used to be criminal.

@HikeGhost @DerrickEvans4WV She's obviously not even paying enough to cover the interest.

@DerrickEvans4WV She went to college? That's the standard loan amortization schedule that applies to all loans. The interest is front loaded. It applies to all loans for a car, house or anything else.

@DerrickEvans4WV @PatrickByrne Money has a time value and loans have risk of default. But feel free to make your own zero-interest loans.

@PatrickByrne Yes this is true, BUT… they didn’t teach any of them these things ahead of time. Plus, in terms of government loans they hand out like candy, I don’t think there should be any interest on those.

@jeremyct And what I mean by saying nothing has change in terms of cost is that it hasn't changed much in terms of minimum wage versus apartment affordability. Frankly, our apartments were crap by today's standards.

@jeremyct No granite/quartz countertops, hard non-wood floors with no carpeting, very basic appliances and window unit air conditioners. If you needed heat in the winter you had to use space heaters. Cost-wise nothing has changed, but apts are much nicer today.

Around here places like Target and Starbucks are hiring at $18 an hour. Full time that’s $3,120 a month before taxes. After taxes you’re taking home around $2,700. Average one bedroom apartment near me is $1,750. That’s already 65% of your paycheck gone before groceries, gas, insurance, or a single emergency. And somehow this still gets called a budgeting problem. Working full time should mean you’re stable. Not one bad week away from a crisis.

@jeremyct How much per month does it cost for a typical mud / clay hut where you live?

@MatrixMysteries An Australian makes up an American student loan story.

An American checks her student loans. She borrowed $49,548.74. 120 payments later, she’s paid $25,558 — and now owes $50,121. After paying for years… she owes MORE than she originally borrowed. This isn’t aid — it’s a SCAM.

@Read_Meee Yet another African boomer story

SO my dad’s boomer friend came over yesterday acting like he’d solved life. “We bought our first house at 26 with cash down.” I asked how much. “38k.” Salary? “14k a year.” So basically around 3 years of income. I told him houses near us are pushing 480k now and average salaries are around 58k. That’s 8+ years of income before you even get close to ownership. He immediately goes: “You kids just spend too much on coffee and phones.”

@LisaMo032919 @OldSaltCityAce @WallStreetApes Except that isn't the system we have. It is used to pay for EVERY medical expense. In practice it is just pre-paid medical with a middleman handling payments.

@OldSaltCityAce @WallStreetApes Health insurance = you pay your premiums even if you're well because one day you might need expensive care. It's INSURANCE against catastrophe. If you ever need $1M in cancer care and you only have to pay your $8,000 OPM for it, you would thankful.

This American’s baby was born in December and had to stay in the Neonatal Intensive Care Unit for 125 days She got the bill and shows it, it’s $1,763,527.43 Almost $2 million dollars for 125 days of care.. Obviously she couldn’t pay it so they actually took her to collections multiple times We need healthcare reform in America She was able to get Medicaid covered for a couple of the months and is having to try and contact collections to try and sort this out But she still owes a lot

@BrianMorrisrun @AmiriKing Wrong. Look up "police exigent circumstances."

@AmiriKing He had no legal obligation to open the door They had no legal right to enter without a warrant. He’s not playing the victim He is the victim. It’s against the law to ever enter a home. 🇺🇸

These people are so painfully stupid. So… Neighbors call the police over a screaming child and request a wellness check. Police attempt to call the father but he refuses to answer the phone. Police arrive, knock on the door and try to make contact. Instead of opening the door and being like, ‘oh my son is fine, he’s on the spectrum and can get a little out of hand from time to time… …the father sets up a camera to record police tearing the door down and making entry so he can play the victim. ‘I do not consent to entry to my place’ I can’t stand these people.

@DisposablEnsign @rnefftax Are you old enough to remember layaway? That's what my parents used.

@rnefftax Too many people buy too much on credit - I never had a credit card until I was in my 30s, and even then used it sparingly and always paid things off on time.

I was attempting to leave Chick Filet today and it dawned on me why younger people claim that they can’t get ahead. Most of those I saw in the parking lot had 70 plus K SUV’s while I had my 2010 Corolla. I never had a car close to that nice and I’m guessing that they have a much nicer/ larger home than I’ve ever had. Moral of the story is don’t blame the “boomer” who paid his own way through college when you can’t get what you want when you want.

@SenWarren Wealth taxes didn't work in Europe and they axed them. Why will it work this time? That is, if you can get this unconstitutional direct tax past the Supreme Court.

If Elon Musk paid my ultra-millionaire wealth tax, we could pay for child care for all three and four year olds in America.

@vinkeith @maphumanintent Where the hell do corporations come into this? Warren is talking about Musk's wealth. He is talking about university wealth. Wealth, not income. You're off in the weeds.

@maphumanintent Trying to draw an analogy of endowments to private corporations is just another form of of whataboutisms

Let's play a game, Senator. 🏦 Private foundations with tax-exempt status currently have a wealth stockpile just north of $1.86 TRILLION. In 2024, they disbursed about $110B, or roughly 6%. Per IRC Section 4942, the legal minimum annual disbursement is barely less than that, at 5%. 🏛️ American universities control an estimated $840-875 BILLION in wealth. Of all American universities, only 144 have endowments with $1B or more in assets, or 86% of all wealth controlled by uni endowments. Harvard (where you were a highly-compensated "diversity" hire) is far and away the largest endowment at $57B. So... Isn't it curious that you aren't getting on your high horse to demand that a vastly larger pool of untaxed multi-generational wealth isn't paying for "child care for all three and four year olds in America"? If we're going to have this discussion, let's go all the way with it.

@EricSpracklen It's not just about the house. Location matters as much, if not more. That house is in a very desirable part of Tampa.

I don’t know who needs to hear this but if a house has been sitting on the market for months it’s because it’s wildly overpriced. It really is that simple. Sellers must come back down to reality. Buyers are done overpaying. And price cuts ARE happening. More coming too.

@KPASKSWHY @AmericaRus2024 You don't know much about bank capital requirements, do you?

@AmericaRus2024 Yeah, it’s kind of fun. But that’s exactly the same thing banks do when they lend Elon money on that one trillion dollars. They don’t get into quibbles of unrealized gains. They give him full credit. We should too.

People love to talk about Elon paying $11 billion in taxes. Sounds like a lot of money. It is 1.1 percent. How do I get a 1.1% tax rate? #ncpol