spoke to Kent Smetters, faculty director of the Penn Wharton Budget Model, who repeated that the debt forgiveness policy"is not funded with a tax but with deficits" but would not comment"on whether metaphors are appropriate."
So, not only will the current policy be financed by government borrowing , calculating an average cost now probably wouldn't accurately predict what its eventual tax bill might be. It's also worth mentioning that while the full NTU analysis explains the theoretical tax bill is spread across the course of the policy's 10-year budget, neither Cruz's tweet nor the NTU's tweet he quoted does so.
How much did all of the big corporations PPC loans forgiveness cost each American?
We checked the receipt and…nope—didn’t buy your bullsh1t.
I'd rather spend $4200 on free universities for those that can't afford it than the bloody wasteful BS wars.
Wonderful!!! We should spend more on education. Department of Defense’s own accounting, taxpayers spent $13.34 trillion on the U.S. military from 2000 through fiscal year 2019 in inflation-adjusted 2020 dollars. Let's spend much much more on education.
Real question is - how much does it cost taxpayers to defray the taxes that would otherwise have been paid by the rich in taxes.
Prove it!
And how much did those tax breaks for the rich guys cost us, Rafael?
Hey SenTedCruz , now do the PPP cost per taxpayer!!
So you say it needs context but then you said it won’t cost taxpayers $2100. That makes Ted Cruz a liar and fear mongering. He had some conservatives throw figures around and ran to Fox with it…. Call BS, BS, Newsweek.
Basically: Ted is lying.
Liar
The real question is how much does student debt relief cost per student. I'll bet it's less than they have paid in taxes, anyway..
Can't really fact check since even the White House claims they don't know how much this scheme will cost.
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