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@LostShakerOfSalt @lonestarr A loan forgiven is paid off by the Federal government. The government can:
1. Print off the money to pay for it & we pay for it in raging inflation.
2. Pay for it in higher taxes. They never pick this option.
3. Borrow Money & add it onto the Federal Debt.
We pay for forgiven debt one way or the other. This is why it's critical that a person who can't repay a loan. Not take the loan.
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@ArmchairEconomist01 @LostShakerOfSalt @lonestarr >A loan forgiven is paid off by the Federal government. The government can:
>1. Print off the money to pay for it & we pay for it in raging inflation.
We have raging inflation right now but it's just money going to Ukraine and foreign bullshit while they let the working and middle class eat shit.
>2. Pay for it in higher taxes. They never pick this option.
They should examine it.
>3. Borrow Money & add it onto the Federal Debt.
This is an option, but really it's the same as option 1 and 2 combined. Honestly, all three are similar results.
>We pay for forgiven debt one way or the other. This is why it's critical that a person who can't repay a loan. Not take the loan.
The government drove up the cost of education and pressured schools to take students who had no reason being there (affirmative action), making school more expensive for everyone else in the process. They made this problem what it is, and it's not unreasonable to ask for their assistance in correcting their mistakes.
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@ArmchairEconomist01 @LostShakerOfSalt @lonestarr We can look at creative solutions that don't feel as punishing to those who took care of their loans the old fashioned way.
>permanent tax increase based upon some formulaic calculation involving total student debt.
e.g. 1% for 20k debt relief.
>tax credit for responsible borrowers
literally give a credit or deduction for X years for people who didn't do loan forgiveness
>social security delay
Wipe out your loans, but your social security benefits are delayed 1-5 years based upon amount. Since SS is based upon life expectancy and earnings and is functionally managed like a pension, this would mean a huge burden lift on the system.
>Wipe out percentage of loans or flat dollar amount for each child.
This has been used successfully in many countries as a way to solve demographic collapse. Since one of the effects of student loan debt is people feel burdened and unable to start families, remove the hurdle for those willing and wanting to start a family. Means testing based upon productivity and net future taxable receipts will likely show this is extremely viable and a net positive for the country. As a bonus it doesn't mean importing infinity refugees.
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@Gundog @LostShakerOfSalt @lonestarr I like @ArmchairEconomist01 and I generally appreciate his more fiscally conservative viewpoints, but student loans are such a C.F. I cannot get behind telling people to just kick rocks over it.
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@BowsacNoodle @ArmchairEconomist01 @LostShakerOfSalt @lonestarr Boomers gnash their teeth at the idea of a debt jubilee as much as the ancient Israelites did.
Spiritual jews indeed.
ArmchairEconomist
BowserNoodle ☦️
Gundog
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