In other words, hardworking Americans who did not attend college would pay more in taxes to help subsidize kids who choose to attend a four-year institution for something worthless like a gender studies degree.
According to the most recent poll, the bailout money would most likely be spent on frivolous goods such as booze, drugs, and vacations.
According to The Post-Millennial:
“In a poll conducted by the website Intelligent.com, 73% of those applying for President Joe Biden’s student debt relief program, which will cancel up to $20,000 in borrowers’ debts and cost taxpayers almost $1 trillion, will spend their extra cash on non-essential goods and activities such as purchasing new smartphones, partying, and going on vacation…”
“A more detailed analysis revealed that 52 percent prioritized shopping for clothes, while 46 percent prioritized going out to eat or going on a vacation. 44 percent would spend their additional money on a new smartphone, 36 percent on a new video game system, 28 percent on alcohol and drugs and 27 percent on gambling.”
“If the program isn’t completely scrapped, 77 percent of those questioned believe they could spend their money more wisely.”
Some argue that the poll findings were predictable.
Because the folks who would profit the most from Biden’s student debt cancellation are likely to be well-off citizens who lean Democratic,
More from The Post-Millennial:
“Using the Penn Wharton Budget Model’s lower end assumptions, Biden’s student loan forgiveness amounts to about $2000 per taxpayer. Under this approach, nearly 45 percent of persons who took out federal student loans would have all of their federal student loans canceled, and up to 95 percent of borrowers would benefit.”
Biden’s plan also extends the payment moratorium on federal loans through the end of the year, ensuring that universities suffer no immediate financial penalties.
Biden can’t legally do this on his own, it must be voted on by the senate, why is it not mentioned.
Correct . . . . .otherwise it would be taxation without representation.
Yes!!! WTF???? of course, it must be voted WHY???? WTF?? R they afraid of those WokeIES????
It SHOULD be voted on by TAXPAYERS!
commie degenerate demented puppet dementia jo and giggles the ho says it all.
and what about the next group going to college
are they going to get relief also
or
is this just a voting scheme
It is called GERRYMANDERING – simple straightforward criminal vote buying !
I believe the payment of student loans should not go to the student directly but to the one who made the loan if it was a government college loan then the students request for loan payment comes thru the records of government student loans should be checked and applied directly to loan with the student getting a receipt showing how much was applied and how much they may or may not still owe in government student loans. Same if the loan is for college loan forgiveness the student when they apply puts down the name of the college then that college is contacted the money allowed to the student by the government is paid and the student gets a receipt showing they either now own nothing or the balance they still owe. And any student who owes money on loans to colleges that were fined by the federal government for poor teaching improper and inadequate staffing should be taken care of first along with any government student loans for that college that the student also had. But if the student has a good-paying job then those loans should remain the responsibility of the student, not the government. That way no money that was given to pay student loans will be spent on drugs, partying, or extravagant vacations