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Originally Posted by Lanny_McDonald
And Republicans are waging a war against student loan forgiveness because - wait for it - it is a gift to the wealthy.
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Well it is. It’s only a political issue for a small fraction of voters. And the people who would benefit the most from loan forgiveness or upper-middle-class professionals.
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If Biden Forgives Student Loans, Voters Won’t Forget It
…Only 13 percent of Americans carry any federal student debt in the first place, and those who carry the most are also among those likely to earn the most in the future.
The issue offers little political benefit to Biden. As Demsas reported, the percentage of Americans who rate student debt as a top concern is too small for pollsters even to measure. But if carried out, student-debt relief could bring large downside risk because it so obviously involves a transfer of wealth from average-income Americans to the most energized, but also more advantaged, parts of the Democratic coalition...
The amount of money at stake may be comparatively small, but the symbolism of what’s being done could be huge: a tax on the voters whom the Democratic Party most desperately needs to regain. And all in order to benefit small but internally influential blocs of activists.
Nobody is proposing to forgive $10,000 of federally guaranteed home-mortgage debt. So why student debt? It’s a classic case of opting for strong claimants over strong claims.
https://www.theatlantic.com/ideas/ar...larity/629752/
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Smart Democrats - the ones interested in winning mid-term races - should be opposing student loan forgiveness too.