Any time you take money out of someone’s pocket and give it to somebody else, you’ve created an unfair situation. Like when productive plumbers pay unproductive university graduates’ student loans. From Mike “Mish” Shedlock at mishtalk.com:
A recent Tweet by Elizabeth Warren and a short rebuttal to her inspired this post. Let’s take a look at the Tweet and my 10 reasons.
Deeply Unfair
10 Reasons Why Student Debt Cancellation is Unfair
- It is unfair to those who sacrificed to pay off their student loans and it’s unfair to those who foot the bill.
- It is an upward transfer of wealth. The plumber pays for someone else’s college education.
- It encourages going to college when there might be better choices such as learning a trade. And It creates incentive to take on new student loans.
