Chaos Marine
Well-known member
You don't have to raise taxes because the Federal Government currently offers $57,500 total in maximum federal student loans; in other words, if you have said debt, the Federal Government is already in debt too because of it. To get an idea of what I mean, if you took $50,000 in debt to get a Bachelor's Degree from 2016-2020, the Federal Government is already in debt for that amount because the borrower has yet to pay them back. Such a cancellation would be the Government forgoing repayment for existing debt, not issuing new amounts of it.
Is that why there's an insane collective student debt? Nah, colleges and universities are charging out the wazoo for nonsense courses like gender studies and other made up gobbledegook.
Eh, I suppose you're right. Fuck the poors. Those 1.3 million people working those jobs didn't deserve them either. They should have gotten better jobs.As for the minimum wage, the CBO looked at it and found it would, in an absolute worst case cause 1.3 Million job cuts. That certainly sounds bad but, it would also boost the living standards of 17 Million people. Right now is the perfect time to do this because the taxation levels on businesses are low and once the economy starts to heat up again, we will return to the situation we had before of having too many job openings but not enough workers. By boosting the purchasing power of 17 Million people, that would encourage more consumption and thus more production, meaning more jobs too.
Having too many jobs and not enough workers though is desirable. That's what society should be aiming towards. Why? Because companies will be looking for people and they'll naturally offer higher wages. If they can't, there's still automation. Hell, it would be a good reason to increase the rate of legal immigration.
There's still that severe issue of killing off small businesses though. The only ones left would be either franchises or large corporations who'd be able to weather the increased cost.