Say you cancel everyones debt with taxpayer money. People are still taking out loans for a low paying degree that does not justify the Stitch and baby yoda sonic shirt Instead cost. You gonna just keep cancelling? Seems only fair if some of my tax money is going to bail out everyone in debt that they should also take care of my potential future debt right? Just allow them to default via Chapter 11. Not allowing them to default put us in this situation, to begin with. It increased loan value knowing that they had to pay it back. It increased rates too. Allowing them to default will put Universities and lenders into check. They know they won’t make products that are unlikely to be paid back. “A society gets better when people don’t take out silly loans they can’t pay, and if they do are others required to bail them out?” – Someone making some sense Every Republican freaking out about cancelling student debt cheered when Trump told them he was raising their taxes so that billionaires could lower their taxes from $0 taxes to $0 taxes+$20million refund The big problem here is how is it paid for. It will be paid for off the backs of everyone not just a select few. 1% tax increase doesn’t seem like much until you think about the difference that really makes on the poorest of the poor. This doesn’t even begin to touch on the inflation it will create or how the total forgiveness amount is higher than our current federal budget. we dont do anything that effects people negatively. that’s why literally everything has a grandfather clause included
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