President Biden is going to force every American taxpayer to pay off $10,000 of student debt for individuals making less than $125,000.00 a year or $250,000.00 for couples. The upfront cost of this debt transfer from private citizens to the taxpayer will exceed all the inflationary reductions made in the Inflation Reduction Act. It will not only make inflation worse but will inflate college prices by providing a disincentive for colleges to rein in their tuition increases. President Obama’s own economic advisor noted on social media that the plan will increase inflation by at least a quarter percent. The University of Pennsylvania’s Wharton School estimates the plan will cost each taxpayer in America $2100, and the full cost will be $300 billion.
Stop the Student Debt Transfer to Taxpayers
Stop the Student Debt Transfer to Taxpayers
Stop the Student Debt Transfer to Taxpayers
President Biden is going to force every American taxpayer to pay off $10,000 of student debt for individuals making less than $125,000.00 a year or $250,000.00 for couples. The upfront cost of this debt transfer from private citizens to the taxpayer will exceed all the inflationary reductions made in the Inflation Reduction Act. It will not only make inflation worse but will inflate college prices by providing a disincentive for colleges to rein in their tuition increases. President Obama’s own economic advisor noted on social media that the plan will increase inflation by at least a quarter percent. The University of Pennsylvania’s Wharton School estimates the plan will cost each taxpayer in America $2100, and the full cost will be $300 billion.