They get better jobs, have higher salaries, etc etc etc There is some confounding here - university students are richer from the start anyway -BUT even when controlling for that, you find that they earn more money
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"But what does this have to do with the government?" Well you see, dear reader, people who earn more money also pay more taxpic.twitter.com/eD7BC6PYca
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How much more tax? Well, the median yearly salary for a university graduate is ~$64,000 For a high school/TAFE graduate, it's ~$52,000
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Over a 50-year timespan - roughly a career - you'd expect that university graduate to pay ~roughly~ $607,000 in tax The non-uni grad? On average, they pay $422,000
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The average university graduate borrows less than $20,000 from the government. So, from a $20,000 investment, the government gets almost $200,000 in returns
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These figures are backed up again and again. University graduates add billions to government revenue https://theconversation.com/higher-education-pays-for-itself-many-times-over-61511 …pic.twitter.com/BE0tT6yrjE
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OECD modelling shows similar results (although, sadly, a gender bias in earnings) http://www.oecd.org/education/skills-beyond-school/education-at-a-glance-19991487.htm …pic.twitter.com/jwuQxYhUIX
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The association is, as I mentioned, complex, but even conservative estimates put the return on investment to the government at 1.5-2x the expense of providing the university degree
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Having had a look at those figures, you might be thinking "Why would ANY government do the slightest thing to discourage people from attending uni?" It's a good question
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Lowering the HECS repayment threshold will, almost certainly, reduce the number of people who attend university In other words, it will almost certainly lose the government money
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It is, above all, an ideological choice before an economic one. End thread #auspol
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Replying to @GidMK
I totally agree but I’m always uncomfortable with this kind of rhetoric around tax. Implies that tax pays for spending when MMT shows us it’s the other way around. Would be v. interested for you to apply logical analysis to MMT. Logic holds up for me and changes perspective.
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