Biden Illegally Forgives Student Loan Debt Blatantly Buying Votes
Though this is being pitched by the administration as a financial break for lower-income Americans, the actual numbers show that it will instead disproportionately benefit those who are in higher tax brackets.According to an analysis of Biden’s plan from the University of Pennsylvania out Tuesday, such a wide-ranging bailout will come with a price tag of $300-$980 billion for American taxpayers.
The university also calculated that “Between 69 and 73 percent of the debt forgiven accrues to households in the top 60 percent of the income distribution.”
Even the liberal Brookings Institution came to the same conclusion.
In January 2021, the principal deputy general counsel for the Department of Education, Reed Rubenstein, clearly stated the president has no power to unilaterally “forgive” student loans.
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Pelosi said the same thing that it was illegal to forgive loans without a vote of congress
ReplyDeleteThe most cogent arguments I have heard on this subject say the same thing:
ReplyDeleteMost of the people who are in college don't belong there anyway.
These institutions of quasi learning are thriving because stupid parents, et al keep insisting on college for a kid that would have a hard time getting through 8th grade, in a functioning educational system.