Biden has been trying to help student loan borrowers with forgiveness and/or making it easier to pay back the opportunistic loan servicers.
400 billion - 1.6 trillion so biden can buy votes by paying off degrees in lesbian dance theory. and who's gonna pay for it, the magical money printer?
"Putting loan forgiveness in fiscal perspective
In terms of its scale in budget and cost to taxpayers, widespread student loan forgiveness would rank among the largest transfer programs in American history. Based on
data from the Department of Education, forgiving all federal loans (as Senator Bernie Sanders
proposed) would cost on the order of $1.6 trillion.
[1] Forgiving student debt up to $50,000 per borrower (as Senators Elizabeth Warren and Chuck Schumer have
proposed) would cost about $1 trillion. Limiting loan forgiveness to $10,000, as President Biden has proposed, would cost about $373 billion. Under each of these proposals, all 43 million borrowers would stand to benefit to differing degrees."
Trump gave massive tax cuts to the wealthy.
i don't know shit about economics and i'm guessing neither do you, but feel free to correct me on this and the source.
"A new detailed and thorough
study from economists associated with the National Bureau of Economic Research and the Treasury Department finds
the reforms substantially raised U.S. capital investment and boosted economic growth. Simply put, as noted by economist
Jason Furman, taxes actually do matter.
The study is based on a large sample of 12,000 corporate tax returns covering several years prior to the enactment of the TCJA and two years after. The authors find that, on average, firms impacted by the policy changes increased domestic investment by about 20 percent in the subsequent two years relative to firms with no tax change.
The TCJA contained several changes that impacted corporations in various ways depending on their circumstances and utilization of various tax provisions both before and after enactment. In addition to tax cuts—including the reduced corporate tax rate, bonus
depreciation, and repeal of the corporate alternative minimum tax—the TCJA included various tax increases on corporations, such as the elimination of the domestic production activities deduction and new limits on deductions for interest expense and net operating losses. The study estimates how the reforms on net altered company-specific tax liabilities, marginal effective tax rates, and the cost of capital.
The researchers modeled the long-run effects of the TCJA’s corporate reforms based on the short-run response of corporate taxpayers in the two years following enactment. They excluded the TCJA’s
individual income tax provisions and assumed a fixed labor supply across the corporate and
pass-through business sectors.
Their ultimate result is an estimate that the U.S. domestic corporate capital stock will grow 7.4 percent over the long run as a result of the law. Most of the growth in investment and the capital stock is predicted to occur within 10 years, and nearly all of it in 15 years. As the capital stock grows, so do worker productivity and wages. The study estimates a 0.9 percent increase in real wages over the long run."
The 2017 Tax Cuts and Jobs Act (TCJA) was the largest corporate tax reform in a generation, lowering the corporate tax rate from 35 percent to 21 percent, temporarily allowing full expensing for short-lived assets (referred to as bonus depreciation), and overhauling the international tax code.
taxfoundation.org
You tell me who is protecting the establishment the most..
democrats and RINOS. crooked DAs and the DOJ. FBI and the intelligence community. big tech and big media.