Wednesday, December 22, 2021

Student loan forgiveness is the poor subsidizing the wealthy. How is that fair?

by Rod Williams, Dec. 22, 2021 - I am convinced that liberals only pretend to care about poor people.  The cynical side of me thinks they want to keep poor people poor so they will keep voting Democrat.  One has to look no further than the various welfare programs to see how their affect it to keep poor people poor. And inflation, which hits those with less disposable income the hardest helps keep poor people trapped in poverty.  And an overtaxed and overregulated economy is less dynamic and provides less opportunity for people to pull themselves out of poverty.

Maybe, however, Democrats really do love poor people and that is why they favor policies that keep people poor and create more poor people. 

When it comes to student loan forgiveness, there is nothing that could be more unfair to poor people. 
Median career earnings for a bachelor’s degree holder are $1.28 million in 2018 dollars. ... At the median, career earnings for a bachelor’s degree graduate are more than twice as high as for someone with only a high school diploma or GED, roughly 70 percent higher than for someone with some college but no degree, and more than 45 percent higher than for someone with an associate degree. (link)

With student debt forgiveness the person with only a high school education is taxed to help someone who has a college education. How is that fair? How can any fair-minded person support such a policy?


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