Biden Student Loans Cancellation vs. Dark Money

The Biden student loans cancellation this administration just proposed is too little, too late. Too little as compared to the 2017 tax break the rich received in the amount of $1.9 Trillion, and too late because of Biden’s legendary indecisiveness. Speaking of tax breaks for the ultra rich, let us dissect the issue from a fresh perspective. Not the one about student debt that claims that it is unfair to those who already paid off their debt, or that it is pure socialism, as Senator Mitch McConnell claimed, for the government to help the most financially strapped people because of predatory lending, but let us view it from the angle of national fairness and honest governance. Apples to apples, as they say.

Those who believe it is unfair to cancel student debt must reflect back on the previous President granting the richest people in this country tax breaks worth some $1.9 Trillion. No one, with a megaphone, cried foul when that law passed. Mitch McConnell did not call it socialism even though this subsidy was totally unnecessary.

Who do you think the government comes after to fill the $1.9 Trillion gap to recoup its tax break losses? Students, folks. And the middle class.

In a way, the US Government gave the rich free money they don’t need knowing well its student debt earnings and profits will eventually pay for that generosity. It’s a reverse Robin Hood syndrome. In this country, we take from the poor to give the ultra rich.

But when the rich got their tax breaks, they shared some of that loot with Congress. On both sides of the isle to influence them and thank them for their generosity.

CONGRESS GIVES AWAY TO TAKE AWAY

Students are not going to rush to give the Republicans or the Democrats any political donations after Biden’s action to cancel some student loans. But when the rich usually get their tax breaks, they share some of that loot with Congress. Anonymously through dark money. On both sides of the isle to influence the Executive and the Legislative branches of our government and thank them for their unnecessary generosity.

In a way, both branches of our government are funding their election campaigns when they conspire to give away free money to the rich and corporate America. It’s royal corruption, folks.

Under these circumstances, is it fair to ask this question: Is the tax break of 2017 a theft? The President and Congress give free money away, in return dark money gives some back. The only reason Biden canceled some $300 Billion in student debt is because the matter has reached boiling proportions for the harm this lawless capitalist act has caused some 46 million Americans.

Mind you, in four years, we are back to square one where we started in 2022 in terms of total student debt and the number of student debtors. Biden just reset the clock to start ticking again, and with it to keep melting the lives of future generations of Americans all to serve the interests of the very rich directly and our politicians indirectly.

Hallelujah to Biden for cancelling $300 Billions in student debt after his predecessor gave away six times the amount in order to indirectly fund the politicians in Washington.

Biden should have canceled it all. He should have reformed the system as President Barack Obama reformed healthcare.

If that is socialism, what do you call $1.9 Trillion tax breaks to the richest people in America? A theft?

IS IT A THEFT?

So, please Senator McConnell, spare us your lecture on socialism. Spare the country  your hypocrisy and shamelessness when it comes to who deserves free money. The richest people and your kind or the students struggling to pay their debt? Debt, we might add, that no other developed and civilized nation on this planet forces its people to take out because their higher education, one of the best in the world in the case of Europe, is totally free.

Just spare us your shamelessness.

The Biden student loans cancellation is about equal treatment, not socialism. It is about giving one economically-handicapped group of people a fair share of what another group of people has already received. For free and for no reason other than pure greed.

If that is socialism, what do you call $1.9 Trillion tax breaks to the richest people in America? A theft?

Biden Student Loans Cancellation vs. Dark Money