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August 31, 2022

Joe Biden is making a move consistent with time-honored Democrat party electoral politics.  When they can’t win the contest of ideas — like socialism vs. capitalism, or tyranny vs. freedom — just buy the votes.  Preferably, do it with other people’s money — they wouldn’t want to drain their campaign coffers, you know.

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President Asterisk has decided to provide $10K of student loan relief to all of the welchers who took out a loan for their liberal arts college diploma and don’t want to pay it back.  In the process, he’s decided it’s okay to tick off everyone who

  • paid off his own student loan,
  • worked his way through college (while the welchers were partying),
  • put his children through college, or
  • decided that learning a trade was better than getting a degree in intersectional victimhood.

In other words, old Joe is giving the middle finger to all of the hardworking, responsible Americans who are the backbone of our economy.  What could go wrong?  Surely, asking a trucker or plumber to pay for the gender studies Ph.D. of the barista serving them their morning coffee won’t have any unintended consequences.  Will it?

The Dems are calling it a $330-billion investment.  To them, any money given away is an investment in making everyone wards of the state.  Besides, what’s the big deal?  It’s only $330B.  That’s chump change by this Congress’s standards.

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But the narrative is running into a bit of a snag. According to the University of Pennsylvania Wharton Budget Model, the Democrat party estimate of the cost is way off.  The model predicts that the actual cost will be at least $600B and may be as high as $1 trillion.  That’s a trillion bucks, of our money, spent in one year, with no political debate — just one demented fool deciding to make it so.  And yet the propagandists will declare that this vote-buying scheme is democracy at work and somehow good for the economy.

So exactly how much is $1 trillion (besides a 1 with twelve zeros behind it)?  If we were to line up 100-dollar bills, end to end, $1T would reach to the moon — four times!  Put another way, it’s $12,000 of debt that each family of four will need to service through their taxes.  The amount that each family’s taxes would need to go up is enough to make payments on a decent used car.  That’s some chump change.  But not to worry.  Joe and his army of new IRS agents aren’t going to actually bill anyone to pay off this debt transfer.  They’re just going borrow it and let it drive up inflation — so everyone can keep paying it, over and over, forever.

But the Dems don’t care.  It’s not their money.  It’s ours.  They’re just choosing to spend it for us, to buy votes for them.  And they’re okay with using the power of government to make us go along with it.  But of course, Trump and his followers are the actual semi-fascists.  See how that works?

When the government gives out free stuff, it’s never actually free.  It always comes with strings.  Sometimes those strings cost us our freedom; other times, they cost us our money.

But this time, the joke’s on the welchers.  It’s going to cost them their money.

The American Rescue Plan Act (otherwise known as COVID relief) made student loan forgiveness non-taxable by the federal government, for the next few years — because everybody knows the only effective way to prevent the spread of a virus is with changes to tax law.  However, the act did not provide relief from state taxes, many of which states still consider loan relief taxable income.