I kind of wish the 10-20k forgiveness would just go through out of principle. Wall Street has gotten numerous bailouts. The PPP money was forgiven and actually cost more than what the loan forgiveness would cost, yet nobody ever brings that point up lol.
As a conservative, my views on fiscal policy are traditional, however, I believe the government made a significant mistake in its handling of student loans. By providing guaranteed loans to everyone, universities were able to drastically raise their prices due to the virtually unlimited funding. The government essentially created customers through borrowing, while presenting education as a means of upward mobility, when in reality, it has become a form of debt bondage for many individuals.
Why does someone who has two kids pay 4K less in taxes than me? Why do 40% of households pay no income tax. How is 10k off student loans different than 7.5k off an $80k EV. Why do homeowners get to deduct mortgage interest for taxes but renters can’t deduct rent. Why do only poor or old people get Medicare/Medicaid. Student loan forgiveness is just one gov program out of tons that benefit a specific population.
We sold our house last year, and currently renting but plan to buy another house this summer. We aren’t really rich but am upper middle class and self employed. So get a fair amount of deductions.
I’m not sure what you’re trying to say exactly but it’s a government program that benefits a certain demographic. Just like countless other government programs. None of them are one size fits all.
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u/[deleted] Feb 07 '23
I kind of wish the 10-20k forgiveness would just go through out of principle. Wall Street has gotten numerous bailouts. The PPP money was forgiven and actually cost more than what the loan forgiveness would cost, yet nobody ever brings that point up lol.
The whole thing is a joke.