Re:Rate Hikes Are Affecting the Economy
by triceratops on Wednesday November 02, 2022 @01:51PM
(#33440088)
> small portion of the citizenry
22m applicants doesn't sound like a "small portion" to me. It'll benefit them and their families - those who are supporting them, as well as those they support.
> IMO the real problem is that we just created a new entitlement program out of thin air.
Would it sound better if you called it a "tax break" or "tax credit"? What's the difference?
Re:Rate Hikes Are Affecting the Economy
by rootusrootus on Wednesday November 02, 2022 @02:08PM
(#33440373)
If you're one of the other 310M people then 22M does sound small.
Re:Rate Hikes Are Affecting the Economy
by triceratops on Wednesday November 02, 2022 @02:20PM
(#33440529)
Like I said here https://news.ycombinator.com/item?id=33438628, we can eliminate 40% of those 310M on the basis that they don't pay federal taxes. So they aren't paying for student debt relief. Of the rest, a good proportion are related to the 22M who are getting the relief. We're talking about parents who are financially supporting their adult children. Or kids whose parents are paying off student debt. It's way more than just 22M.
And it's certainly way more than the number that benefited from propping up the stock market in 2020.
IMO the real problem is that we just created a new entitlement program out of thin air. And unlike the other programs that have more broad appeal, this one is just for a small portion of the citizenry. And nobody is having a serious conversation about how we're going to fund it going forward.