- Democrats want to transfer wealth, but it won't benefit who you think it will.
"The American Left, including 239 nonprofit and community organizations, has called on presumptive president Joe Biden to embrace student-loan forgiveness and unilaterally cancel nearly $1.7 trillion in student debt.
The rationale?
The move would ostensibly stimulate the economy — and reduce the racial wealth gap.
...As ever, leftists attempt to add gravitas to their argument by inserting race and gender into it, but even some of their own are skeptical.
...Research by the Urban Institute makes that dynamic even clearer: It explains that “debt forgiveness plans would be regressive — providing the largest monetary benefits to those with the highest incomes.”
...“Hardly anything could be more divisive than shunting taxpayer dollars at folks who’ve been to college while low-skilled workers bear the brunt of our current economic pain,” the National Review editorial board concludes.
For college-educated, bicoastal American elites who view half of America as “deplorable,” that’s a feature, not a bug...Read all.
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