The Supreme Court is expected to issue its ruling on the Biden administration’s student loan forgiveness plan this month. Anticipation for the ruling is high.
The Supreme Court is expected to issue its ruling on the Biden administration’s student loan forgiveness plan this month. Anticipation for the ruling is high.
In fact, in contrast to not harming people, it actually has the potential for a great boost in economic activity. Giving money/erasing debt for low income/middle income people tends to result in local spending. These people don’t hoard wealth like occurs when you give rich people or corporations tax cuts.
Yeah, but if you give things to the peons they start expecting to live a better life… and if they have better lives how can we look down on them and feel better about how superior we are?
This is the only way I could get behind it: as a form of stimulus. But we don’t NEED stimulus right now. The economy is doing great, inflation aside, and stimulus would only make inflation worse.
We can kill inflation now with windfall corporate profit taxes. We could also put controls on stock buybacks.