Good luck to your pension funds, 401k’s, etc. Mainstream America will be the bagholders here. As one students’ debt gets canceled other young savers using apps like Goldman’s Marcus to store their savings will get wiped out.https://twitter.com/zerohedge/status/1331674110221545480 …
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I feel you. People need to understand this sham for what it is. We all would like to “forgive” student debt. But not at the detriment of those that didn’t incur that debt.
i don't think its to the detriment of anybody though to be honest, it amounts to a tax cut for young people if you look at the distributional effect and impact on the budget. no different than earlier tax cuts boomers gave to themselves during the bush and trump admins
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I don't see how canceling student debt is a tax cut. Sure, the young people with student loans may be a tax cut, to some degree, But this isn't a shift debt from the youth to the boomers revenge tactic. All retail with any savings will feel it. Likely inflationary effects too.
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