From the Right

/

Politics

The Student Loan Party

Debra Saunders on

President Joe Biden is poised to forgive $10,000 in student loan debt for borrowers who earn less than $150,000 per year, or $300,000 per couple, according to multiple news reports.

The median household income in America was $67,521 in 2020 according to the Census Bureau. The very fact that the Democratic administration wants to help people who earn up to $150,000 tells you everything about what is wrong in Washington today.

Party swells think $150,000 is middle-class.

It is not. Even inside the Beltway, one of the most affluent areas in the nation, and according to the Pew Research Center income calculator, $150,000 puts a single worker in the upper, not middle, class.

Which should surprise no one.

Politicians have been inflating the middle class for years so that when they say they will spare the middle class from tax hikes, affluent families believe they will be spared.

 

In 2008, then Sens. Hillary Clinton and Barack Obama pledged not to raise taxes on the middle class -- or anyone making $200,000 or less. At the time, a $200,000 income put a wage earner in the top 3% of earners.

Obama offered he might raise the floor to $250,000.

The party that ostensibly lives to reduce income inequality and help low-income earners just can't give up on a program that would alleviate debt for college graduates, who make significantly more than workers without college degrees.

Democratic Senate Majority Leader Chuck Schumer and Sen. Elizabeth Warren of Massachusetts have advocated forgiving $50,000 in student debt -- which would make it a welfare program for Ph.D.s.

...continued

swipe to next page
Copyright 2022 Creators Syndicate, Inc.
 

 

Comics

Mike Peters Jimmy Margulies Gary McCoy Adam Zyglis Al Goodwyn Darrin Bell