StmarysCity79
Well-Known Member
Unless taxes are raised for people to offset the loan forgiveness it doesn't actually shift any cost or debt to anyone. The federal government absorbs the loss as these were federal loans. No new taxes have been proposed so yours is just a talking point that makes no sense.PPP loans are very different from student loan forgiveness. They were a temporary solution to help workers keep their jobs during the pandemic and it was approved by Congress - and was intended to be forgiven under certain circumstances.
I'm finding it odd that so many news outlets are trying to portray Republicans as Grinches while SO VERY MANY DEMOCRATS are crying foul at the program for the same reasons the Republicans are - that it is far more expensive than suggested, it puts the cost of loans agreed to by the recipient onto the backs of people who were not able to go to college, that it is siphoning money from the poor to the rich (THAT is a contention I don't fully agree with, since so very many of the working class will not see as much increase in their federal taxes), it will worsen an economy still recovering and that it's basically unfair - and possibly illegal.
Also being echoed by economists and advisers to the Obama administration - why doesn't the press burrow through THEIR finances?
Socialism by the way, isn't government giving away money - that appears to be most of what the government already does and has for decades. Socialism is the government taking your money and taking over your business.
Who's finances are you advocating the press burrow through? And why? The point is the hypocrisy of Republicans who took PPP loans ( scary socialism) and had those loans forgiven in ( in the case of Matt Gaetz who owns no business and has no employees to the tune of $450K) now complaining people are getting their student loan balance decreased by $10K
It's also hypocritical to hear Republicans say this is illegal while also saying Trump can declassify anything he wants and take whatever records he want to Mar-a lago without going through the proper procedures.
Both examples show a clear bias by republicans as to what rules and laws are taken seriously based on which party is breaking them.