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Elizabeth fauxchantas Warren wants to pay of student loan debt. Where does it end. If you pay off current debt shouldnt she also go back and repay anyone who took out a loan for college and paid it off. Shouldnt we pay them interest?

Bikecop24 4 Apr 22
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Lie-o-watha

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She's just trying to outbid the other democrats in the Freebie Free-for-all Auction.
Other dems have bid free college, universal basic income, medicare for all, and reparations.
Now Liz is on the Warren-path and she's bidding debt cancellation.

I predict that any day now, whichever democrat is lowest in the polls will promise their voters Immortality.
Hey, Hillary already thinks she can absolve your sins...

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Ah, financing the future debt, as it were. I suppose it those who overdosed on student loans were suddenly windfall then they coud go out and spend more money and help create more jobs and thus raise the tax base through greater employment. Just one thing, Ms Fauxchantas, as I recall such debt forgiveness is considerer income by the IRS. Just imagine, you have $80,000 to @200,000 in student loan debt and now your loans are forgiven, thin of the tax bite on that income. No good deed goes untaxed.

"No good deed goes untaxed" - that's a great line! I wish I'd thought of it.

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She wants to cancel the debt. Theres such dishonesty in even saying that. It’s not possible to cancel debt. what you do is you shift it from one group of people to another group. Here the debt will be shifted from those who incurred the debt to those who didn’t incur the debt, meaning the taxpayers

Unfortunately, this is not true! A lot of the student loan debt is owned by private financial institutes (not the federal government). If the debt was wiped it'd be the banks that lose out, not the tax payer. Of course, you could make an argument that this would also be terrible for the economy too!
Just thought you should be aware of this so that you can correct your argument! Have a great day!

@Option_Other I appreciate the heads up but I still think my argument is fine. assuming the debt is held by financial institutions, the govt can’t force them to accept the ‘cancellation’ of that debt without some compensation from the govt. I’ve never heard of a business being ordered by the govt. to forgive debt. That would be an unlawful taking by the govt.

@Clammypollack Yes, you are right. I think the most likely option is that the government would have to buy back the debt. I think the problem I have here is that the government often spends HUGE amounts of taxpayer money on ridiculous things - for example, bombing other countries and bailing out the banks when THEY caused the financial crisis. Now all of a sudden people are talking about spending money instead on things that are useful to normal people, such as education and healthcare. And everyone is up in arms about it! I really don't understand the problem?

@Option_Other let’s say we ‘Cancel’ debt. What do we do for people who paid their debts? How about the ones who went to lesser schools in order to not go into debt? Do we compensate them? We should if we cancel the debt. What message do we send regarding responsibility, hard work, delayed gratification and integrity? I worry that we send the wrong message regarding these things.

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