One of many major policies modern Democrats have already been advocating for is student loan forgiveness for university financial obligation. Although some like Sens Elizabeth Warren and Charles вЂChuckвЂ™ Schumer are asking for $50,000 in loan forgiveness for borrowers, President-elect Joe Biden proposed $10,000 in loan forgiveness for households making $125,000 or less.
But, a current op-ed by the Editorial Board during the Washington Post has advocated against a universally blanketed way of education loan forgiveness.
Listed here are 3 items to realize about the way the Post claims an all lives matter financial obligation relief system helps higher-income Us citizens and inequality that is deepen.
1. Forgiveness plans will help higher income disproportionately People in america
Based on an analysis by college scholars Sylvain Catherine and Constantine Yannelis, credit card debt relief programs are вЂњhighly regressive.вЂќ
вЂњThey discover that debt forgiveness plans, whether universal or capped at $50,000 as Mr. Schumer and Ms. Warren propose, вЂare very regressive, utilizing the majority that is vast of accruing to high-income people.вЂ™ Also an agenda capped at $10,000 would disproportionately prefer upper-income People in the us,вЂќ the Post reported.
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