Looks as if Biden is going to forgive $10,000 per person who has debt owed for college tuition AND makes less than $125,000 a year. Let’s not forget that this does not serve anyone who is under-privileged or lives in any of the urban-cities who has not had the benefit of college.
Several things are happening here.
They forgive $10,000 in debt, tuition will go up and our inflation will increase. Why? Someone has to pay for that $10,000 per college student or graduate. Who is going to pay? Those making more than $400,000? And who are those people? They are the ones running every business that we go to and pay for. If they start paying more in taxes, then they aren’t just going to sit by and just make less money, are they? NOPE. 5% – 30% increase in their salary and then the cost of their goods and services for that company will now go up to cover those expenses. Now, the pants you got for $20 last week are going to be $25. People aren’t understanding. Process this please.
