Idahoans Tax Payers Irate About Student Loan Forgiveness Bill
When President Biden announced his student loan forgiveness plan, it seemed like a good idea. Up to $10,000 in federal student loan debt forgiven for those making less than $125,000 per year (or $250,000 per year per household) would really help out a lot of Americans who are in a tight spot.
Not everyone is so hip to the idea, including Idaho Governor Brad Little. Little and numerous other republican governors sent a letter to the president stating:
[The plan will] cost the American taxpayer more than $2,000 each or $600 billion total, a price the people of our states cannot afford.
Is that true? Is each American taxpayer going to have to pay an extra $2,000 in taxes just to support student loan forgiveness?
It's not all sunshine and rainbows though. According to Boise financial expert Dave Petso, an extra $2,000 in taxes won't' be dumped on each of us. Instead, an extra $2,000 per American will be added to the national debt.
That's a lot and that really means future generations, your kids, grandkids, etc., are going to have to have less of something. Higher taxes in order to pay things off. It's not a printing press you can just keep running without any detriment to the future.
After getting the actual real facts, does that change your opinion on student loan forgiveness? Are you in support of it to help out folks who got screwed by predatory bank loans, or are you against it because it could affect the national debt down the road?
Let's link up on Facebook and see what you think.