I mean, seriously. I was stupid enough to take on the burden of student loans. At least give me the dignity of having the responsibility of paying them off.
Government guaranteed student loans are a direct factor in the rise of the cost of education. If a seller knows buyers can afford a certain product, they will raise the price to what they know the buyer’s can afford. The loan guarantee means the minimum price of college is going to be the guaranteed loan amount.
Removing government guaranteed student loans, means prices will actually have to follow demand. And there won’t be an unlimited pile of " free money " that students can tap into.
As a bonus make student loans dischargeable in bankruptcy again.
How? How do you foster this economy? Through what means?
Cutting taxes, removing frivolous programs, making it easier to start a business, making it easier to run a business, removing unnecessary restrictions to spur innovation, reducing the military budget…there are a lot of ways.
We could remove the burden of employers to provide health insurance by providing single payer health care.
I think student loan write-off is putting money in the hands of young, educated, mostly single people, which is aimed at spurring innovation by allowing people to take risks at the start of their careers. So it’s not all of the things you’ve listed, but it’s one of the things. It’s similar to cutting taxes in effect.
Yes, tax cuts have always led to much higher worker pay…
Are you crazy? That type of trickle-down nonsense has been thoroughly debunked.
You know what would make it easier to start and run businesses? Not having your most educated populace be heavily in debt. Building social safety nets so that starting a business isn’t as risky. Making it so healthcare isn’t tied to employment… you know what maybe taxes on the extremely well established businesses should be increased to pay for that.
What unnecessary restrictions are currently hampering innovation in your opinion?
No, no, no!
Forcing the people with the most up to date expert knowledge to “work for the man” during their prime risk-taking years (before having family responsabilities) because they’re force to due to debt, rather than being free to take risks as inventors or entrepreneurs, is a well known way of “promoting innovation”!!!
/s (just in case).
Totally agree. For the last few decades we’ve been gleefully giving the government money hoping it’ll trickle down to the economy. I guess we are getting a bit of a trickle. More like a tinkle. Like when you get up to pee but your bladder ain’t as full as you thought it was.
Cutting taxes doesn’t trickle down. Making it cheaper and easier to run a business doesn’t either. Removing “frivolous programs” has tanked the economy.
If you want to see what caused the end goals you speak of it was the new deal. Massive public investment paid by high taxes on high earners.
The right answer is to remove or strictly limit tuition for public schools, as many countries do and as the US has in its own recent history.
During much of the 1960s (in the early years of the Master Plan for Higher Education in California, 1960-1975), the three public higher education systems in California – the University of California System (UC), the California State College System (CSUC), and the state’s community colleges – did not charge tuition for in-state residents. Yes, students paid some nominal (called “incidental”) fees. But tuition, we as think about it and know it today, was not an essential part of the financing plan for public higher education in California five decades ago.
The transition to student fees (a rose by any other name?) in the UC and CSUC systems began shortly after Ronald Reagan was sworn in as governor of California in 1967. As reported by the NY Times in 1982, Gov. Reagan “fought hard in the Legislature to impose tuition at four-year colleges.” He lost the battle for tuition, but the California Legislature “agreed to increase student registration fees, which [previously] had been nominal.” The official “no tuition” policy in California’s community colleges ended in 1982.
Gotta say, “college tuition” was not on my “things Reagan ruined” bingo card.
Millions of dollars that are going to banks every month instead of the local economy doesn’t spur vibrant small business.
You’re not wrong. If wages had increased alongside cost of living and tuition increases then we wouldn’t be in this position now. We’ve been fighting for $15 dollars an hour minimum for so long that we really need $25 an hour.
