Biden's student loan handout taxes the poor and throws gas on the inflation fire

Biden explains that the federal government will provide $10,000 of student loan "relief" to Americans with debt who make under $125,000 a year.Government spending is a major cause of inflation. And inflation is a tax on the poor. This Congress has spent massive amounts of taxpayer dollars in the past two years, leading to historic highs in inflation not seen since the 1970s.

Now, adding additional fuel to the inflation fire, the administration has announced its plainly illegal plan to forgive $10,000 of student loan debt per person for borrowers making under $125,000 per year. Democrats have touted their student loan schemes as promoting economic equity, but in fact it does the opposite.gives 69 percent of benefits to borrowers in the top 60 percent of income distribution, according to the University of Pennsylvania Wharton Budget Model.

WASHINGTON, DC - AUGUST 24: U.S. President Joe Biden, joined by Education Secretary Miguel Cardona, speaks on student loan debt in the Roosevelt Room of the White House August 24, 2022 in Washington, D.C. And the repeated loan repayment pauses have effectively given doctors a $90,000 bonus and lawyers a $55,000 bonus in loan forgiveness, says an analysis by the Committee for a Responsible Federal Budget.

votedem

Why should we pay for students to get loans forgiven. It's time to return loans for edi to the states. It's ridiculous for people in low tuition states to be paying for things like Princeton and Harvard for other students. It's time to decentralize education.

Not to mention that it's illegal! If you were an actual reporter you'd know this and call him out on it!

Lies!

I find it fascinating that the funding of Obamacare is partially paid for by the government takeover of the student loan industry and the interest generated and nobody is talking about this. Did everyone forget

The poor kid working double shift at Starbucks paying the loan off for the snot nose kid in the tesla . Seems fair .... right ?

They have this man so doped up it’s unbelievable just to keep him functioning look at his eyes..Biden has been throwing gas on fire and on America..

“Every statue and street building has been renamed, every date has been altered. And the process is continuing day by day and minute by minute. History has stopped. Nothing exists except an endless present in which the Party is always right.” - George Orwell, 1984

did you copy that, or was it a mass email

Let's just make up the shortfall by taxing the wealthy (and the multibillion dollar corporations).

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Biden announces student loan forgiveness: 5 things to knowThese are some of the top questions surrounding student loan forgiveness and what experts say borrowers should consider. Surely the US government will get out of the student loan business all together. If borrowers are are going to be forgiven then continually loaning money for students is ridiculous. working class voters are now voting Republican en masse… oops
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Biden's student loan plan: What we know (and what we don't)President Joe Biden is expected to announce today that many Americans can have up to $10,000 in federal student loan debt forgiven. Here's what we know so far and what it means for people with outstanding student loans. It means the responsible will be paying for the irresponsible. The US could get more bang for the buck if it paid debts based on not the face value but what the holders of the debt paid. Why? Because most student loans are resold in'tranches' at cents on the dollar. If someone paid $1k for a 10,000, pay the $1k, wipe out $10,000! Congrats to every worker busting their ass in the the ship channel, truckers, and other blue collar gigs to fund someone’s gender studies degree. Elections have consequences.
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Biden announces student loan forgiveness: 8 things to knowPresident Biden announced a new student loan forgiveness plan for Americans on Wednesday. Thank God someone is doing something It's inflationary. Here's one. MY BODY MY CHOICE, YOUR STUDENT LOANS YOU CHOSE, YOUR DEBT TO PAY! NBC CBS MSNBC JoeBiden theview SpeakerPelosi ChuckSchumer HouseDemocrats SenateDems ewarren AOC YOURDEBTYOUPAY
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Biden expected to make announcement on student loan relief on WednesdayIt's not yet clear what he'll announce. The pause on student loan payments is currently scheduled to end on Aug. 31.
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Biden set to announce plan to cancel $10,000 in student loan debt WednesdayBiden has faced rising pressure from progressive Democrats to grant loan forgiveness. Critics say it could accelerate inflation. they aren't saddled with anything they borrowed it will you demand they pay my house loan off too Republicans hate forgiving predatory student loans because not only does it close the racial wealth gap and give people more opportunities, but those with a college education vote Democrat at a higher rate.
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