Student Debt Cancellation Is Extremely Unfair – Here Are 10 Reasons Why…
Authored by Mike Shedlock via MishTalk.com,
A recent Tweet by Elizabeth Warren and a short rebuttal to her inspired this post. Let’s take a look at the Tweet and my 10 reasons.
Deeply Unfair
There is something about this “cancel” student debt bill that just feels *deeply* unfair to me.
Why have taxes from plumbers & electricians go towards paying the unpaid bills of college & masters grads?
I wish we were building a safety net for ppl in poverty with the $167B. https://t.co/lSJE5Psde1
— Michelle Tandler (@michelletandler) May 28, 2024
10 Reasons Why Student Debt Cancellation is Unfair
-
It is unfair to those who sacrificed to pay off their student loans and it’s unfair to those who foot the bill.
-
It is an upward transfer of wealth. The plumber pays for someone else’s college education.
-
It encourages going to college when there might be better choices such as learning a trade. And It creates incentive to take on new student loans.
-
It is blatant election year bribe to college students and college graduates.
-
It creates creates a moral hazard for college administrators to sell useless degrees creating another overhang of new student debt.
-
It creates a moral hazard for students who might feel that their debt should be forgiven in the future
-
It subsidizes poor decision-making such as majoring in useless degrees including gender studies, anthropology, archeology, art history, music, culinary arts, fashion design, philosophy, etc.
-
The president has no power to forgive student loans. Doing so creates another precedent for presidential rule by decree. This is too big a financial decision not to involve Congress. The current student loan program was authorized by Congress and contains no such authority to the president.
-
Biden is openly flouting the Supreme court, another dangerous precedent.
-
Free money is highly inflationary.
Laughable Explanations to Difficult Question
Everything this president does is inflationary. Yet, Biden and economists refuse to admit this.
January 11, 2024: Is Inflation Down? That’s What President Biden Says
February 20, 2024: The CBO Revised the Cost of Biden’s Energy Policies Up by $466 Billion
April 12, 2024: How the Inflation Reduction Act Failed to Reduced Electricity Costs in Pictures
May 11, 2024: What’s the Inflation Rate Under Biden vs 7 Previous Presidents?
Any Questions?
Addendum
I left out a key point.
As a Senator Biden sponsored a law that made it so student debt could not be discharged in bankruptcy.
Then he was buying donations from the big banks who run their credit card operations out of Delaware.
Now he is buying votes.
Tyler Durden Tue, 06/04/2024 – 22:50
Source: https://freedombunker.com/2024/06/04/student-debt-cancellation-is-extremely-unfair-here-are-10-reasons-why/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Humic & Fulvic Liquid Trace Mineral Complex
HerbAnomic’s Humic and Fulvic Liquid Trace Mineral Complex is a revolutionary New Humic and Fulvic Acid Complex designed to support your body at the cellular level. Our product has been thoroughly tested by an ISO/IEC Certified Lab for toxins and Heavy metals as well as for trace mineral content. We KNOW we have NO lead, arsenic, mercury, aluminum etc. in our Formula. This Humic & Fulvic Liquid Trace Mineral complex has high trace levels of naturally occurring Humic and Fulvic Acids as well as high trace levels of Zinc, Iron, Magnesium, Molybdenum, Potassium and more. There is a wide range of up to 70 trace minerals which occur naturally in our Complex at varying levels. We Choose to list the 8 substances which occur in higher trace levels on our supplement panel. We don’t claim a high number of minerals as other Humic and Fulvic Supplements do and leave you to guess which elements you’ll be getting. Order Your Humic Fulvic for Your Family by Clicking on this Link , or the Banner Below.
Our Formula is an exceptional value compared to other Humic Fulvic Minerals because...
It’s OXYGENATED
It Always Tests at 9.5+ pH
Preservative and Chemical Free
Allergen Free
Comes From a Pure, Unpolluted, Organic Source
Is an Excellent Source for Trace Minerals
Is From Whole, Prehisoric Plant Based Origin Material With Ionic Minerals and Constituents
Highly Conductive/Full of Extra Electrons
Is a Full Spectrum Complex
Our Humic and Fulvic Liquid Trace Mineral Complex has Minerals, Amino Acids, Poly Electrolytes, Phytochemicals, Polyphenols, Bioflavonoids and Trace Vitamins included with the Humic and Fulvic Acid. Our Source material is high in these constituents, where other manufacturers use inferior materials.
Try Our Humic and Fulvic Liquid Trace Mineral Complex today. Order Yours Today by Following This Link.
![Report abuse](/img/report_abuse.png)