In America, inflation is completely out of control, the Democrats just raised taxes, the economy is nosediving into the pavement, and we’re already in a recession even if the Left denies it. Despite all that, what is the Biden administration doing? They’re giving away between $440 and $600 billion (estimates vary) of your tax dollars in “college loan forgiveness” to people making up to $125,000 per year. When you consider that level of income AND the fact that college graduates make 900k more over the course of their lifetimes than high school graduates, there are few groups less deserving of a government handout in the whole country. How do you justify adding to the tax burden of people who never went to college or who did go to college, but did the right thing by scrimping and saving to pay off their debt to help some of the most privileged people in the country?
Of course, if you were trying to come up with people that deserve free money from the government even less than college graduates making more than a hundred thousand dollars, some people, in an effort to defend the meritless college loan welfare we just handed out, would say that the business owners that had PPP loans forgiven would be it. Is that true? Not really, although that whole program was insane for a whole different reason. When COVID hit, the government simultaneously forced many businesses to shut down AND then loaned them money to keep their employees on the payroll. As many of us noted at the time, this was a terrible idea:
Today: We need to shut down EVERYTHING! Screw the economy! If you want people to go to work, you want my grandma to die!
Six months from now: I'm out of work & no one wants to hire me. My grandma's small business closed! Why is the economy this bad?
Same people.
— John Hawkins (@johnhawkinsrwn) March 28, 2020
www.culturcidal.com/p/the-perils-of-handing-out-free-money?utm_source=substack&utm_medium=email