# Thousands of dollars in student debt cancelled. Good news, right? **URL:** \ **Category:** Politics & Elections\ **Created:** [August 24, 2022, 7:55pm UTC](https://boards.straightdope.com/t/thousands-of-dollars-in-student-debt-cancelled-good-news-right/970242 "2022-08-24T19:55:31Z")\ **Posts on this page:** 20\ **Page:** 14
**Author:** ![JohnT](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnt/32/15048_2.png) [@JohnT](https://boards.straightdope.com/u/JohnT)\ **Post date:** [August 28, 2022, 4:13pm UTC](https://boards.straightdope.com/t/thousands-of-dollars-in-student-debt-cancelled-good-news-right/970242/261 "2022-08-28T16:13:57Z")
> [@SuntanLotion](#): > > I would like for you to elaborate. [![Imgur](https://live.staticflickr.com/65535/51134543320_5f34563164_b.jpg "Middleton") ](https://www.flickr.com/photos/68782016@N08/51134543320/) [![Imgur](https://live.staticflickr.com/65535/52310476640_cd79c53a7b_b.jpg "SmartSelect\_20220825-082630\_PhotoLayers") ](https://www.flickr.com/photos/68782016@N08/52310476640/) [![Imgur](https://live.staticflickr.com/65535/50992445153_8118bddb8b_b.jpg "1609642632098") ](https://www.flickr.com/photos/68782016@N08/50992445153/) [![Imgur](https://live.staticflickr.com/65535/50993257982_b53c1f5f29_b.jpg "1609642383521") ](https://www.flickr.com/photos/68782016@N08/50993257982/) [![Imgur](https://live.staticflickr.com/65535/50993257407_e4d0103b62_b.jpg "1609611234800") ](https://www.flickr.com/photos/68782016@N08/50993257407/) [![Imgur](https://live.staticflickr.com/65535/50993141016_fdf56ffba2_b.jpg "1609611178222") ](https://www.flickr.com/photos/68782016@N08/50993141016/) [![Imgur](https://live.staticflickr.com/65535/50992443383_0fbcb69767_b.jpg "1609611029411") ](https://www.flickr.com/photos/68782016@N08/50992443383/) [![Imgur](https://live.staticflickr.com/65535/50993256307_864126d2c2_b.jpg "1609610894560") ](https://www.flickr.com/photos/68782016@N08/50993256307/) [![Imgur](https://live.staticflickr.com/65535/50993256067_2e04db2ec8_b.jpg "1609598274613") ](https://www.flickr.com/photos/68782016@N08/50993256067/) [![Imgur](https://live.staticflickr.com/65535/51134204249_6df46e2bc0_b.jpg "Middleton") ](https://www.flickr.com/photos/68782016@N08/51134204249/) [![Imgur](https://live.staticflickr.com/65535/51394269043_925a5af977.jpg "Rand") ](https://www.flickr.com/photos/68782016@N08/51394269043/) [![Imgur](https://live.staticflickr.com/65535/51641717768_fdbd21187f_b.jpg "Reagan") ](https://www.flickr.com/photos/68782016@N08/51641717768/) [![Imgur](https://live.staticflickr.com/65535/51642353585_e0f19e76c8_b.jpg "Reagan") ](https://www.flickr.com/photos/68782016@N08/51642353585/) [![Imgur](https://live.staticflickr.com/65535/51161057045_c2fe3b25b3_w.jpg "2021-05-05\_02-08-34") ](https://www.flickr.com/photos/68782016@N08/51161057045/) [https://www.rand.org/pubs/research\_briefs/RBA516-1.html](https://www.rand.org/pubs/research_briefs/RBA516-1.html) ---
**Author:** ![needscoffee](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/needscoffee/32/1076_2.png) [@needscoffee](https://boards.straightdope.com/u/needscoffee)\ **Post date:** [August 28, 2022, 4:17pm UTC](https://boards.straightdope.com/t/thousands-of-dollars-in-student-debt-cancelled-good-news-right/970242/262 "2022-08-28T16:17:30Z")
> [@Magiver](#): > > It would be a major improvement for a child to be brought up by someone with actual parenting skills than someone who doesn’t have those skills and continues the cycle of institutional poverty. I know what we could do, we could make it less burdensome for them to go to college and break the cycle! ---
**Author:** ![Magiver](https://avatars.discourse-cdn.com/v4/letter/m/4491bb/32.png) [@Magiver](https://boards.straightdope.com/u/Magiver)\ **Post date:** [August 28, 2022, 4:34pm UTC](https://boards.straightdope.com/t/thousands-of-dollars-in-student-debt-cancelled-good-news-right/970242/263 "2022-08-28T16:34:42Z")
> [@k9bfriender](#): > > Companies have been moving overseas for decades, and doing so has made the wealthy wealthier. And they take jobs and taxes with them. How do you not understand this? Seriously. By raising taxes you’re lowering future tax revenue. > [@k9bfriender](#): > > So, what you are saying is that we _don’t_ need the wealthy in order to create successful businesses and employment. Yes, that’s exactly what I’m saying. If you want their tax revenue don’t chase them away when they create new wealth and jobs. The 3 companies I listed started from scratch. It was new money and new jobs created that didn’t exist. > [@k9bfriender](#): > > The reason that they can’t hire enough truck drivers is because it really doesn’t pay all that well. Sure, your acquaintances may have 6 figure revenue, but how much do they pay for fuel and leasing? I said income not revenue. They have 6 figure incomes. ---
**Author:** ![Magiver](https://avatars.discourse-cdn.com/v4/letter/m/4491bb/32.png) [@Magiver](https://boards.straightdope.com/u/Magiver)\ **Post date:** [August 28, 2022, 4:37pm UTC](https://boards.straightdope.com/t/thousands-of-dollars-in-student-debt-cancelled-good-news-right/970242/264 "2022-08-28T16:37:14Z")
> [@needscoffee](#): > > I know what we could do, we could make it less burdensome for them to go to college and break the cycle! And you think we should reward the people who run up debt and not the people who worked their way through school? Can you explain the logic of that? ---
**Author:** ![JohnT](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnt/32/15048_2.png) [@JohnT](https://boards.straightdope.com/u/JohnT)\ **Post date:** [August 28, 2022, 4:39pm UTC](https://boards.straightdope.com/t/thousands-of-dollars-in-student-debt-cancelled-good-news-right/970242/265 "2022-08-28T16:39:23Z")
Yes, if you read my posts, you will understand the logic of it. Your moral hazard argument is crap given this is a economic misallocation, driven by policy, which impacts vast swaths of society. Since policy created this misallocation, policy is needed to fix it. After 40 years, the policy of “rugged individualism” enacted by Reagan, popularized by Limbaugh, and cemented by Gingrich, has been an absolute and abject disaster. This is just the start of fixing their moral and economic failures. ---
**Author:** ![SuntanLotion](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/suntanlotion/32/16165_2.png) [@SuntanLotion](https://boards.straightdope.com/u/SuntanLotion)\ **Post date:** [August 28, 2022, 4:43pm UTC](https://boards.straightdope.com/t/thousands-of-dollars-in-student-debt-cancelled-good-news-right/970242/266 "2022-08-28T16:43:33Z")
JohnT-thank you👍 ---
**Author:** ![Magiver](https://avatars.discourse-cdn.com/v4/letter/m/4491bb/32.png) [@Magiver](https://boards.straightdope.com/u/Magiver)\ **Post date:** [August 28, 2022, 4:43pm UTC](https://boards.straightdope.com/t/thousands-of-dollars-in-student-debt-cancelled-good-news-right/970242/267 "2022-08-28T16:43:52Z")
> [@JohnT](#): > > Yes, if you read my posts, you will understand the logic of it. I stop reading posts when they drone on with pages and pages of copy and paste without comment. ---
**Author:** ![JohnT](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnt/32/15048_2.png) [@JohnT](https://boards.straightdope.com/u/JohnT)\ **Post date:** [August 28, 2022, 4:46pm UTC](https://boards.straightdope.com/t/thousands-of-dollars-in-student-debt-cancelled-good-news-right/970242/268 "2022-08-28T16:46:58Z")
That’s pretty weak, man. ---
**Author:** ![Magiver](https://avatars.discourse-cdn.com/v4/letter/m/4491bb/32.png) [@Magiver](https://boards.straightdope.com/u/Magiver)\ **Post date:** [August 28, 2022, 5:08pm UTC](https://boards.straightdope.com/t/thousands-of-dollars-in-student-debt-cancelled-good-news-right/970242/269 "2022-08-28T17:08:52Z")
> [@JohnT](#): > > Your moral hazard argument is crap given this is a economic misallocation The moral hazard argument is a self fulfilling extension of bad policy spending. If you finance poor life decisions you will create more of them. What you want are policies that encourage people to make good financial decisions and not bad ones. I went to a state school that primarily served a commuter student base. It was a VERY basic college. Clearly the original intent was to keep costs down. The frills were few and often financed by wealthy people. Now it’s a campus school with all kinds of money spent on student lifestyle. This was a not a good use of state funds. It’s raised the cost of tuition and encouraged students to live on campus which is a further financial drain. ---
**Author:** ![Magiver](https://avatars.discourse-cdn.com/v4/letter/m/4491bb/32.png) [@Magiver](https://boards.straightdope.com/u/Magiver)\ **Post date:** [August 28, 2022, 5:13pm UTC](https://boards.straightdope.com/t/thousands-of-dollars-in-student-debt-cancelled-good-news-right/970242/270 "2022-08-28T17:13:45Z")
> [@JohnT](#): > > Yes, if you read my posts, you will understand the logic of it. your post 261 had zero comment on your part. It was entirely a dump of cut and paste. ---
**Author:** ![JohnT](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnt/32/15048_2.png) [@JohnT](https://boards.straightdope.com/u/JohnT)\ **Post date:** [August 28, 2022, 5:15pm UTC](https://boards.straightdope.com/t/thousands-of-dollars-in-student-debt-cancelled-good-news-right/970242/271 "2022-08-28T17:15:15Z")
Of charts which I created, yes. Of a 2 page article which I wrote, yes. Plus a cite to the rand institute. Your point? ---
**Author:** ![Magiver](https://avatars.discourse-cdn.com/v4/letter/m/4491bb/32.png) [@Magiver](https://boards.straightdope.com/u/Magiver)\ **Post date:** [August 28, 2022, 5:18pm UTC](https://boards.straightdope.com/t/thousands-of-dollars-in-student-debt-cancelled-good-news-right/970242/272 "2022-08-28T17:18:46Z")
It was clear. I’m not clicking on a dumpster of cut and paste. ---
**Author:** ![carrps](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/carrps/32/2957_2.png) [@carrps](https://boards.straightdope.com/u/carrps)\ **Post date:** [August 28, 2022, 6:06pm UTC](https://boards.straightdope.com/t/thousands-of-dollars-in-student-debt-cancelled-good-news-right/970242/273 "2022-08-28T18:06:42Z")
> [@Magiver](#): > > I stop reading posts when they drone on with pages and pages of copy and paste without comment. Good grief. It’s mostly pictures. Sheesh. ---
**Author:** ![k9bfriender](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/k9bfriender/32/3283_2.png) [@k9bfriender](https://boards.straightdope.com/u/k9bfriender)\ **Post date:** [August 28, 2022, 6:27pm UTC](https://boards.straightdope.com/t/thousands-of-dollars-in-student-debt-cancelled-good-news-right/970242/274 "2022-08-28T18:27:23Z")
> [@Magiver](#): > > And they take jobs and taxes with them. How do you not understand this? Seriously. By raising taxes you’re lowering future tax revenue. I’m not sure that you understand actual history here. We’ve been _lowering_ taxes on the wealthy, and they’ve been moving jobs overseas. The threat that raising taxes on the wealthy will cause them to move jobs overseas is pretty feckless. > [@Magiver](#): > > The 3 companies I listed started from scratch. It was new money and new jobs created that didn’t exist. Right, but the only point that you are making is that catering to the wealthy is not necessary in order to create wealth and jobs. > [@Magiver](#): > > I said income not revenue. They have 6 figure incomes. Then you know some pretty rare drivers indeed. I mean, you admit that there are not enough drivers, why do you think that is, if it actually pays that well? ---
**Author:** ![k9bfriender](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/k9bfriender/32/3283_2.png) [@k9bfriender](https://boards.straightdope.com/u/k9bfriender)\ **Post date:** [August 28, 2022, 6:29pm UTC](https://boards.straightdope.com/t/thousands-of-dollars-in-student-debt-cancelled-good-news-right/970242/275 "2022-08-28T18:29:42Z")
Someone provides you with the data that you claim to want to see, then you refuse to read it. Some quote about a horse and water seems apropos here. ---
**Author:** ![JohnT](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnt/32/15048_2.png) [@JohnT](https://boards.straightdope.com/u/JohnT)\ **Post date:** [August 28, 2022, 6:35pm UTC](https://boards.straightdope.com/t/thousands-of-dollars-in-student-debt-cancelled-good-news-right/970242/276 "2022-08-28T18:35:02Z")
Technically, someone else wanted me to backup a sidebar claim about Reagan. That poster seemed to be satisfied, others… not so much. 🌨 ---
**Author:** ![k9bfriender](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/k9bfriender/32/3283_2.png) [@k9bfriender](https://boards.straightdope.com/u/k9bfriender)\ **Post date:** [August 28, 2022, 7:05pm UTC](https://boards.straightdope.com/t/thousands-of-dollars-in-student-debt-cancelled-good-news-right/970242/277 "2022-08-28T19:05:38Z")
I’m sorry, could you elaborate? 😉 (please don’t, you’ll break the internet.) ---
**Author:** ![suranyi](https://avatars.discourse-cdn.com/v4/letter/s/e36b37/32.png) [@suranyi](https://boards.straightdope.com/u/suranyi)\ **Post date:** [August 28, 2022, 7:09pm UTC](https://boards.straightdope.com/t/thousands-of-dollars-in-student-debt-cancelled-good-news-right/970242/278 "2022-08-28T19:09:31Z")
> [@Magiver](#): > > They’ve always had that option. Apple started in a garage. Microsoft started in a garage. Amazon started in a garage. Those are 3 of the biggest companies in the world. Be careful about including Microsoft in any story about “young people starting huge companies from nothing”. In fact, Bill Gates’s family was very wealthy — for example, his grandfather was president of a bank. He went to private schools where, largely due to his parents’ influence, he was able to get complete access to computers in high school. ---
**Author:** ![Broomstick](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/broomstick/32/246_2.png) [@Broomstick](https://boards.straightdope.com/u/Broomstick)\ **Post date:** [August 28, 2022, 7:48pm UTC](https://boards.straightdope.com/t/thousands-of-dollars-in-student-debt-cancelled-good-news-right/970242/279 "2022-08-28T19:48:54Z")
> [@Chessic\_Sense](#): > > This entire thread is nothing but Democratic whataboutism where they cry “What about tax breaks for the wealthy? What about wars?” or attempts to gaslight opponents into thinking they actually supported it all along. “You’re Christian, so you actually love debt forgiveness” 250+ posts, and not a single real defense of why the Feds should give money to people who don’t need it for nothing in return. So… why should the Democrats have to justify that when for _decades_ the Republicans have trumpeted giving money to the wealthy who _very much_ don’t need it? If it’s OK for the Republicans then it’s OK for anyone else. Otherwise you’re saying some animals in the barnyard are more equal than others and that is NOT democracy. ---
**Author:** ![needscoffee](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/needscoffee/32/1076_2.png) [@needscoffee](https://boards.straightdope.com/u/needscoffee)\ **Post date:** [August 28, 2022, 8:01pm UTC](https://boards.straightdope.com/t/thousands-of-dollars-in-student-debt-cancelled-good-news-right/970242/280 "2022-08-28T20:01:59Z")
> [@Magiver](#): > > And you think we should reward the people who run up debt and not the people who worked their way through school? Generally, you help the ones who need it. You don’t sneer at them for being too shiftless to have paid off their debt yet (or for their institutional poverty). [Previous page](https://boards.straightdope.com/t/thousands-of-dollars-in-student-debt-cancelled-good-news-right/970242.md?page=13) [Next page](https://boards.straightdope.com/t/thousands-of-dollars-in-student-debt-cancelled-good-news-right/970242.md?page=15)