Penn-Wharton: Biden's new student loan plan will cost taxpayers another $84B, bringing total to $559B. The biggest winners are 750,000 people with 20 years in repayment. Their average debt relief is $25,500+ and average household income is $312,000+. static1.squarespace.com/static/55693d6…
Penn-Wharton estimates Old Joe's student loan schemes cost taxpayers $559 billion but what do they know? I have an endless supply of savants on X telling me taxpayers haven't lost anything when someone who owes them $25,000 is told they never have to pay it by order of Old Joe.
@kerpen I'm seeing arguments, such as the one below, that say that the taxpayer isn't affected, that we're not actually burdened with this debt. Treasury forgives it, it's gone, and the borrower spends that money elsewhere now. Is this correct?
@kerpen What's are the median values? I feel like that's going to be a much more telling number of the reach since salaries are rarely normally distributed. Especially amongst college grads where you can have heart surgeons and kinder teachers in the same cadre.
@kerpen @CommunityNotes Totally a lie.
@kerpen @CurtisHebert I want equity, I want those getting free college to reimburse everyone who has already paid for their own college
@kerpen @RNCResearch Some liberal was saying that student debt forgiveness means that money just disappears. Was he incorrect?