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A Different Way to Look at Student Debt Relief [1]
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Date: 2022-11-18
The analysis of student debt relief seems to always focus on how those with the debt are suffering or how forgiving the debt will help the economy. The ideas in these analyses is correct but misses the real point. At least it is the point in Arizona.
The debts were incurred because the government gave several large tax breaks to the wealthy. To partially cover the expense of the tax reductions, they reduced the funding for higher education. The schools, in turn, raised tuition. The consequence was that students paid for the tax breaks given to the wealthy. Forgiving the debts is a way of having the society, as a whole, pay for those tax breaks.
The tax breaks should never have been given. But since they were given, it is better for the whole population to pay for them rather than having students pay for them.
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[1] Url:
https://www.dailykos.com/stories/2022/11/18/2137216/-A-Different-Way-to-Look-at-Student-Debt-Relief
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