Economists agree that canceling existing student debt and making State College Tuition free benefits everyone. When people aren’t paying $1500 a month for 30 years that frees up that money for people to buy homes, cars, invest in retirement and buy goods and services (especially important if you work in goods or services or own a business). Free college tuition makes more educated adults able to contribute to a stable, flourishing economy.
As for the tired argument of “but what about the people who already paid?! It’s not fair!” you people have ZERO issue with giving tax breaks to the Corporations and 1%ers, but hate the idea of helping your neighbor, your friends, your family and other people you may care about in a way that will take a burden of lifetime debt and benefits every single one us?
I think if he's going to do it, he'll do it in stages. The latest COVID relief bill had language in it to make any forgiven or canceled student debt non-taxable. Up until that point, the vast majority of student debt canceled or forgiven was taxed as income at 25%. I don't want to get my (or anybody else's) hopes up, but if I were going to cancel student debt, I'd want to make sure it's not going to cause any additional burden on the people I'm trying to help.
adm0210 on April 29th, 2021 at 19:43 UTC »
Economists agree that canceling existing student debt and making State College Tuition free benefits everyone. When people aren’t paying $1500 a month for 30 years that frees up that money for people to buy homes, cars, invest in retirement and buy goods and services (especially important if you work in goods or services or own a business). Free college tuition makes more educated adults able to contribute to a stable, flourishing economy.
As for the tired argument of “but what about the people who already paid?! It’s not fair!” you people have ZERO issue with giving tax breaks to the Corporations and 1%ers, but hate the idea of helping your neighbor, your friends, your family and other people you may care about in a way that will take a burden of lifetime debt and benefits every single one us?
missed_sla on April 29th, 2021 at 19:47 UTC »
I think if he's going to do it, he'll do it in stages. The latest COVID relief bill had language in it to make any forgiven or canceled student debt non-taxable. Up until that point, the vast majority of student debt canceled or forgiven was taxed as income at 25%. I don't want to get my (or anybody else's) hopes up, but if I were going to cancel student debt, I'd want to make sure it's not going to cause any additional burden on the people I'm trying to help.
Mpm_277 on April 29th, 2021 at 22:11 UTC »
Or at least allow bankruptcy. I’d take that in a heartbeat.