ADVERTISEMENT

ADVERTISEMENT

Letter: Be happy for student loan relief

We never ask, “How are we going to pay for it,” when it comes to other government subsidies to agriculture ($440 billion a year in 2022), or oil ($5.9 trillion in 2020).

letter to the editor.jpg
We are part of The Trust Project.

To the Editor:

There have been some strong, negative reactions to President Joe Biden’s decision to forgive student loan debt, up to $10,000 for those who qualify and up to $20,000 for Pell Grant recipients.

As with every issue today, the reaction is split among your political affiliation.

For some reason, these same people were fine with a bill that passed in 2017 that cut the corporate tax rate from 35 percent to 21 percent.

It was projected to add $1.5 trillion to the deficit over 10 years. A normal, middle class American would not see a dime of these tax cuts. Wealthy business owners did.

ADVERTISEMENT

Where was the outrage?

The National Taxpayers Union’s estimate of costs per taxpayer for the student loan forgiveness plan found the total cost could be $329.1 billion over 10 years, or around 20 percent of the 2017 corporate tax cut.

The U.S. Defense Budget is estimated at $777 billion just in the fiscal year 2022. For some perspective, Biden’s student loan forgiveness could cost taxpayers around 40 percent of a yearly defense budget, spread out over 10 years.

How do we pay for all these corporate tax cuts and the defense budget?

We never ask, “How are we going to pay for it,” when it comes to other government subsidies to agriculture ($440 billion a year in 2022), or oil ($5.9 trillion in 2020).

Student loan forgiveness will actually help real Americans and not big companies.

Another complaint is from people that paid off their student loans and were not able to take advantage of the recent benefits.

The best explanation I have seen is, “If you have a problem with the student loan cancellation because you already paid off your loans, just pretend it’s a tax cut for the rich that you also never got but mysteriously didn't complain about.”

ADVERTISEMENT

The idea that because you struggled, everyone else should continue to struggle is a lazy argument.

Be happy for the people that will get some needed relief. The lack of empathy in America continues.

Travis Kriens

Mitchell

What to read next
Just the other day, I came up with a real Crackerjack of an invention. This one really could help people.
As time has passed, more social media content has become toxic, antagonistic and deliberately provocative, intended to do little more than anger those with different thoughts and opinions.
Roubini went on to explain what meant by listing his “seven Cs of crypto: concealed, corrupt, crooks, criminals, con men, carnival barkers’” and ‘“CZ,”’ the initials of a Chinese crypto bigshot.
EDITOR'S NOTE: Palace City Profiles is an ongoing series of community members’ stories, introducing us to our neighbors and the personalities that call Mitchell home. If you have suggestions for individuals or families with a great story, please contact Karen Whitney at 996-1140 or kwhitney@mitchellsd.com.