August 30, 2021

Student Loan Forgiveness - Another Gift to the Rich

From Lance Sjogren:

Student loan forgiveness:

University of Chicago economists concluded in an April study that a full cancellation of student loan debt would entail $192 billion in forgiven debt for the top quintile of income earners, while those in the bottom quintile would receive just $29 billion.

A program sought by the political party of the privileged to benefit the privileged.

Posted by: Timothy Birdnow at 08:39 AM | Comments (5) | Add Comment
Post contains 71 words, total size 1 kb.

1 That may be fortunate for those on the bottom. I remember that, a few pages ago on this site, contributor Bill H. pointed out that forgiven debt is considered to be taxable income, and all of it taxable in the year the debt was forgiven.

The Law of Unintended Consequences strikes again.

Posted by: Dana Mathewson at August 31, 2021 09:59 AM (usxcn)

2 Of course Biden may well just forgive the tax debt as well...

Posted by: Timothy Birdnow at September 01, 2021 07:05 AM (D28R3)

3 University of Chicago economists concluded in an April study that a full cancellation of student loan 壯陽藥ptt 持久液ptt debt would 

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