WHO IS THE VICTIM
The tax payer. That’s who
Comment on Biden to defy Supreme Court in second attempt at sweeping student loan handout
Bongo_Stryker@lemmy.ca 8 months ago
I’m not understanding the controversy here.
If the government uses some of the budget to pay back part of student loans, the creditors get their money so that’s good for them. The debtors having been relieved, will spend that money instead on products and services - some of that money will be collected as taxes, and some of it will circulate into the economy. A sizeable portion of that money will go to businesses that can invest it into more employees and providing more services and products available to consumers, expanding the economy and generating more tax revenues. In the case of federal loans, the government is really just wiping out a debt to itself, nobody is actually losing money on this. So if I haven’t misunderstood or missed something crucial, my question is: WHO IS THE VICTIM?
wintermute_oregon@lemm.ee 8 months ago
Bongo_Stryker@lemmy.ca 8 months ago
Can you explain how? How is the plumber losing anything? It seems to me he is gaining.
wintermute_oregon@lemm.ee 8 months ago
He is gaining nothing but more national debt and higher taxes.
The current system works fine.
Bongo_Stryker@lemmy.ca 8 months ago
I don’t think this is an actual explanation of anything.
If anybody has any suggestions on where I can read up on this I’d be grateful. I think most news articles I have read are very scare on details and I’m interested in more in-depth than “debt bad, Biden good” or conversely “Biden bad, system fine”
ryathal@sh.itjust.works 8 months ago
There’s lots of victims.