Re:Boston University Undergraduate Costs Reach $80k
by vlovich123 on Monday May 09, 2022 @12:50AM
(#31310744)
> The right way to do this is giving everyone the same amount of cash and increasing marginal income tax rates.
And in your system, this counterbalances the natural advantage that children born to wealthy parents have how?
Re:Boston University Undergraduate Costs Reach $80k
by jaredklewis on Monday May 09, 2022 @02:04AM
(#31311110)
It increases taxes on the rich and then uses those tax funds to redistribute wealth.
Canceling student debt on the other hand would be a massive handout for the rich as the majority of student debt is held by rich and upper middle class Americans. Students from from the poorest quartile of households have just 5% of the student debt [1].
1. https://educationdata.org/student-loan-debt-by-income-level
Re:Boston University Undergraduate Costs Reach $80k
by lotsofpulp on Monday May 09, 2022 @08:29AM
(#31313268)
That would have to be addressed with estate taxes and lowering the gift exclusion amounts, and/or property tax, but implementing that on all assets seems difficult.
Or scrapping all income/property taxes, and just having marginal sales taxes (the more you spend, the more tax you pay), but then that would require tracking every single transaction.
The right way to do this is giving everyone the same amount of cash and increasing marginal income tax rates.
It would be politically stupid to reward a small amount of people who have low voter participation rates and instead earn the ire of many who have high voter participation rates.
Simply stopping government funded higher education loans would be a better move that actually addressed the root problem with higher education costs.
If the goal is to help poor people, then help all poor people. Not just a subsection of the poor that happened to borrow money for overpriced signaling mechanisms.