- Nov 15, 2006
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Then let's completely get rid of private debt!For the same reason that you pay taxes that cover any other services you don't use - there's a net benefit to society. Specifically as it relates to student loan forgiveness, borrowers not having to make crushing student loan payments means that they have more disposable income to contribute to the local economy, they're more likely to become homeowners (and thus pay property taxes), and they're more likely to be able to save for retirement, meaning that they'll be less of a burden on the system later in life, just to name a few.
I pay for public schools, even though my parents sent me to a private school and I don't have kids. I drive my car maybe once a week, but my taxes pay for roads all over the country. I've never used welfare, but I've spent almost 20 years paying for it.
With Bidenomics in full gear - credit card debt is skyrocketing. It's the only way some make it. If we eliminated all public debt - they would have more disposable income to contribute to the local economy, they would be more likely to become homeowners etc. etc.
Sounds like good logic!
Off course those of us who have little or no credit card debt would end up paying their debt - just like the student loans - but hey! it helps the economy - ....... or does it?
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