To follow up, of course I meant the grown child as an adult benefits
the most from education so why shouldn't the grown child pay the loan
for his education but There should be no law to make the grown child
pay the loan because as a minor child he or she did not have the
capacity to make a contract. On the other hand if push came to shove
the parent should be able to knock the grown child reputation, shame
the grown child or if the bank allowed it put a notation on the grown
childs credit report. The vast majority of grown children would be
willig to pay or help pay the loan if they can, some grown kids are
just ungratful or unreasonablly angry at their parents and would
not be willing to help, some parents would just take most of the
money and blow it then either not educate their child or send them to
a terrible cheap school. Of course some cheap schools are only going
to be cheap in price not
quality.
In fact rasing a child is expensive period, extra food,
clothes, housing, healthcare, utility cost, transportation cost there
is in my view no reason that parents of modest or poor means should
not be able to obtain defered no interest loans to help raise their
kids as well as help educate them plus I think if their is a need I
think there is no reason the parent should not expect the grown child
to pay part or all of the loan off, besides the market value of the
parents labor for the child is probably much more than the loan would
be.--- In [email protected], "terry12622000"
<[EMAIL PROTECTED]> wrote:
>
> Central Banking is a failure all over the world in every country
> except maybe in Somilaia where I don't think central banking
> exists.
> Central Banks shoot for what they call price stablity which
> they mean an average inflation rate of 2% or less a year but at 2%
> prices still double every 36 years, prices increace 4 times or more
> in a life time. Even if they manged to get an average inflation
rate
> of half of 1% a year prices would increase by at least half in a
life
> time, if it took 30,000 at birth to have a comforable living it
> would at least take 45,000 dollars a year or so at 90, at an
average
> 0.5% inflation rate, at 2% it would take more than 120,000 at
> 90.
> Instead of a Central bank to issue money and insure banks as the
> FDIC does give every citizen a non transferable co-op share in a
> Mutual banking Network, every local bank would have the ablity to
> issue money unless it inflates, if it sustains inflation the local
> bank will be kicked out of the network, it will not be insured by
the
> network and the network will no longer print money for the bank and
> may even recall the banks notes. If you look on the Federal Reserve
1
> dollar note you will see which of the 12 districts the note was
> issued, with local baning issuing this idea could be expanded for
> example if the bank was in downtown Nashiviile Tennessee the note
> might have TN-1, if the note comes from the small town of Tracy
City,
> Tennessee it might read TN-
> 2505.
> The Local mutual bank could work with the county and local
> governments to control inflation. I would give the county or the
> local government the authority to register corporations and
limited
> liablity companies instead of the state government, property deeds
> or titles and tags and drivers and operators licence where
applicable
> including land, homes, commericial and government buildings,
campers,
> mobile homes automoblies, boats, ships and planes would no longer
be
> done or authorized at the state level or the federal level in case
of
> piolts licence and ship registering, the work and authority would
be
> at the county or local level. Fees is one way the county or local
> government can help the local public mutual bank control inflation
> and the fees can vary from year to year even not exist in some or
> most years. In return the mutual bank would issue the county or
local
> government and other local public institutions the money they need.
> Federal and States taxes would be totally elimnated except for a
head
> tax on the lower government. The federal government would tax the
> states equally based on the number of people in a state, the state
> would tax the counties the same way and pass the federal tax on to
> the counties too. The federal and state debt including Social
> Security and Medicare obligations would be passed to the counties,
> the county or local government could pass the debt and Social
> Security/ Medicare obligations on to the local public mutual banks,
> the county or local government could authorize the local mutual
bank
> to offer parents defered and no interest loans for their childrens
> education instead of public schools, the county or local government
> could lease out public school building and property to cover any
> unpaid loans. Since the grown adult benefits the most from the
> education the parent could ask the child to pay the loan back, if
the
> child refuses the parent would be allowed to place a notation with
> the grown childs credit rating. For example Mrs Jones borrowed
50,000
> dollars to pay for Jonny's k through 12 education, Mrs Jones is now
a
> widow woman living on a modest income of 20,000 a year, Jonny is a
> sucessful professional making 150,000 per year and he rufuses to
help
> his mom out with the 50,000 no interest loan that payed for his
> education. Mrs Jones tells the local mutual bank how ungratful
Johnny
> is and puts a nottation in Jonnys credit rating and temporarily
> defers the loan until Mrs Jones death in which they can collect
from
> her estate. Johnny can sue both the bank and his mother for putting
> false information in his credit report, if Mrs Jones picked a bad
> school for Johnny he might have a case. Of course the bank could
just
> not put a noation in the credit report and collect the loan from
Mrs
> Jones Estate which is likely to have gone to Jonny or his kids
> anyway. If Mrs Jones does not have an estate of enough or any
value
> and Johnny will not pay the loan then the county or local
government
> will cover the loan from its lease income.
>
