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This quote from Pence is so unbelievably infuriating.
Good to know all of the millennial and gen z college graduates earning less than $125,000 per year and struggling in an awful economy are "elites" and not "hardworking Americans."
Since I'm now apparently an elite, do I get a membership card in the mail?
Vote vote vote.
Just another way the GOP is gaslighting the American public. American public distrusts the “elite” which the GOP represent or are part of themselves so they attempt to change what “elite” actually is. All of the lower and middle class people fight each other over a few thousand dollars while millionaires and billionaires siphon millions to billions from them through government handouts or record profits/“inflation”.
Hardworking Americans are rich people. It's a code. Poor people aren't hard working because they are poor. If they were, they would be rich. All of the mental gymnastics is just that, and it is ridiculous.
Not to mention that this is coming from the guy who said that racism is over because his three white kids graduated college
Yeah, it's called a diploma
$125k isnt even that much - but I suppose it depends on what degree you got and if you landed a job in your chosen field.
$125,000 seemed like a pretty fair cutoff for the loan forgiveness. If $124,999 is the maximum you could've earned to still be eligible, I feel like you're generally living pretty comfortably, but still not "elite." I mean, I make half that with a bachelor's degree in journalism, so I was thrilled my remaining $20k in loans could've been waived.
Although the language is very imprecise, a university graduate will make $720,000 more over a 20 year period than a non-university graduate, spend four years out of the labour force not paying taxes and then will also have a higher life expectancy drawing from the public pension longer.
Tell me why it’s reasonable for people who didn’t go to university to help foot the bill for people who did?
This is the exact type of resentment members of the GOP are trying to sow among marginally different income brackets to promote infighting rather than pointing the finger at the actual "elite" class. You shouldn't have to be saddled with massive amounts of debt to simply get an education. Adjusted for inflation, college tuition has increased nearly 750% since 1963. Source.
Why not tax the rich to pay for programs to support the lower and middle classes? Or subsidize education?
That $720,000 difference over 20 years is less than a one-year salary for thousands of CEOs. Based on this list, there are 2,721 CEOs who earned more than $720,000 in 2021 (you have to scroll all the way down to page 137 to find a CEO earning less than $720,000).
It's a drop in the bucket.
If university grads earn more, wouldn't their higher tax contributions quickly make up for the four non-tax-paying years compared to someone earning less without a degree? Not to mention it isn't uncommon for students to also work while in college.
Regarding life expectancy, this is the same blame-game criticism. What impact would affordable healthcare have on life expectancy? Or a higher minimum wage?
You could make the same argument for any type of program that distributes tax dollars to others. "Why should my hard-earned money go to someone sitting at home on welfare?"
The federal government clearly has no problem throwing obscene amounts of money at corporations, whether they need it or not, so why not divert some of that aid to the people?
When I took out my student loans, I knew what I was signing up for, and I never expected — or wanted – the government to step in and waive them. After seeing the massive amounts of money the government handed out in the form of PPP funds, including potentially $200 billion fraudulently (source), my view changed. If billionaires were getting PPP loans for millions of dollars, why shouldn't a bunch of college graduates get $20,000 each?
Would you rather your tax money go to reducing student debt or $2 million to $5 million to Kanye West's Yeezys? Or Tom Brady's TB12 getting nearly $1 million?
It's obviously not an actual either-or question, but ultimately, if the government is bailing out billionaires, banks, etc., then yeah, fuck it, help your middle class college graduates.
There aren’t enough CEOs to tax to make up the $400 billion it would cost for the student loan forgiveness.