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Here are key things to know as Supreme Court nears decision on Biden's student loan forgiveness (www.cnbc.com)

submitted 1 year ago by Haus@kbin.social to c/news@kbin.social

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The Supreme Court is expected to issue its ruling on the Biden administration's student loan forgiveness plan this month. Anticipation for the ruling is high.

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[–] Clangbang@kbin.social 25 points 1 year ago (2 children)

In fact, in contrast to not harming people, it actually has the potential for a great boost in economic activity. Giving money/erasing debt for low income/middle income people tends to result in local spending. These people don’t hoard wealth like occurs when you give rich people or corporations tax cuts.

[–] justinh_tx@kbin.social 16 points 1 year ago

Yeah, but if you give things to the peons they start expecting to live a better life... and if they have better lives how can we look down on them and feel better about how superior we are?

[–] Aesthesiaphilia@kbin.social 1 points 1 year ago (1 children)

This is the only way I could get behind it: as a form of stimulus. But we don't NEED stimulus right now. The economy is doing great, inflation aside, and stimulus would only make inflation worse.

[–] Lightninhopkins@kbin.social 4 points 1 year ago (1 children)

We can kill inflation now with windfall corporate profit taxes. We could also put controls on stock buybacks.

[–] Aesthesiaphilia@kbin.social 1 points 1 year ago

Yes, but that's a separate conversation.