The loan forgiveness is for low income borrowers, and
by Tex Francisco (2024-02-22 15:56:55)

In reply to: The money comes from somewhere.  posted by EricCartman

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with the U.S.'s graduated tax rates, the top 20% of earners, who are probably disproportionately college graduates themselves, pay almost 90% of all taxes. I don't like either this particular policy or the student loan regime overall, but I also think it's somewhat inaccurate to characterize it as construction workers subsidizing bankers. Bankers subsidizing teachers is probably closer to the truth.

The Top 20% of earners also make all of the money.
by EricCartman  (2024-02-22 16:41:52)     cannot delete  |  Edit  |  Return to Board  |  Ignore Poster   |   Highlight Poster  |   Cannot reply

This number is also distorted because we embraced the EITC over transfer payments, because the EITC encourages work to obtain the credit.