Student Loan Forgiveness: All Hail Joe Biden, King
He is transferring wealth to his favorite constituents: rich people.
by Melissa Mackenzie
August 24, 2022, 1:40 PM
President Joe Biden, elder statesman, steady hand, and all-around good guy, just decided by fiat that henceforth and herewith, student loans shall be forgiven by Kingly decree. Thank you, Never Trump, for helping America restore norms. We, the humble servants of the crown, bow and scrape gratefully for all you have done to save Democracy.
Graduates who have loans of $10,000, or $20,000 for Pell grants, will have their loans paid by their working-class neighbors and fellow students who worked their way through college and have paid their loans.
The list of people being screwed over by this $300 billion gift to rich people is long:
Graduates who worked their way through college
Graduates who have paid their loans back (me)
Parents who saved up to pay for their kid’s college (me)
Parents who paid part of their kid’s college tuition
Graduates who took private loans
Graduates who consolidated their loans
Current students
Working-class people who never went to college
Poor, working-class, and middle-class people who can’t buy food or gas because of inflation
Anybody with a sense of fairness or a brain that can comprehend how this punishes those who do the right thing and incentivizes those who don’t.
The people who benefit from this?
Colleges that don’t have to account for driving up loans on nonsense degrees
Graduates with stupid degrees who can’t get a job (think “women’s studies”)
White, suburban women with college degrees staying at home to take care of the kids who worry about their student loans.
This proclamation by Team Biden is a political reward to his base: rich white people with post-graduate degrees. These overeducated fools are the Democrats’ core constituency. They’re who inhabit his out-of-touch administration. They’re the ones who benefit from this.
more
https://spectator.org/student-loan-forgiveness-joe-biden-king/
