Matt Bruenig is being trolly about student loan debt again
peoplespolicyproject.org/2019/04/23/providing...
peoplespolicyproject.orgPosted Apr 25, 2019, 8:07 AM UTC
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peoplespolicyproject.orgA college education is strongly correlated with higher lifetime incomes and something that ~60% of the country doesn’t have.
Any student debt forgiveness program is inherently regressive. Give $50,000 to everyone who went to college and nothing to the majority of people who didn’t? Not a fan
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Student loans are used to scare working-class kids into abandoning the idea of going to college.
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it shows Warren's focus towards shifting some of the young left middle class energy Bernie has to her.
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The class gap in higher education has narrowed, and the gender gap (in women's favor) has widened. I didn't even graduate high school, but am in favor of student debt forgiveness just so that marriage doesn't effectively carry a ~$50k penalty.
Debt forgiveness needs to be tied to socializing college and ending tuition requirements though, so young people stop this student loan insanity.
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Yeah I mean he’s not wrong. Also Liz Warren will abandon this plan before the general election anyway.
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It's true, and Bruenig really supports a scheme he calls attachment benefits, which would support all young people when they move into adult life whether they go to college or not.
I think, though, that higher levels of college education will make society more productive, even if it isn't on its own very good for making society more equal. So a certain subsidy may perhaps be justified.
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Should higher education be free? Absolutely (preferably with a housing/living stipend)
Should those burdened with student debt be allowed to discharge that debt through bankruptcy? Absolutely
Should we have a special bailout for the already most economically advantaged 1/3 of millennials and gen-xers (who are estimated to earn an average of $1,000,000.00+ more then the 2/3ds of people without a degree)? Hell no
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Why make debt forgiveness conditional on household income, and not individual income? That way, you’ll avoid the marriage penalty problem.
And Bruenig is right to point out the horizontal equity problem. I guess his alternative 3 is the most fair solution to this.
He's completely right, student loan debt probably goes a long way to explaining why Millennials don't own homes. Paying off debt and saving for house? That's really fucking hard to do unless you're making six figures of income annually.
There's no question I'd be a homeowner if my parents and I (thanks mom and dad...sincerely) didn't have to pay student loan debt.
That’s ultimately where the push for loan forgiveness is coming from - not a sense of general welfare, but the housing sector, mostly developers, builders, and construction companies. Banks make money either way.
But I want a house so it’s cool
That's a reach. If that were the case we probably would have more progress than just campaign promises.