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We could just rollback the recent tax cuts and have a much more progressive tax policy than a student loan forgiveness program for all. That said one of the ar

We could just rollback the recent tax cuts and have a much more progressive tax policy than a student loan forgiveness program for all. That said one of the arguments for universal forgiveness is that it’s the only way to get major reform in the space. That seems like a crazy expensive premium to pay to me but maybe I’m naive about the appetite for improving others lives.

rayiner 7y ago
The recent tax cuts are a side show. The main effect was to bring U.S. corporate tax rates in line with Randian hell-holes like... Sweden: https://tradingeconomics.com/sweden/corporate-tax-rate; https://tradingeconomics.com/sweden/corporate-tax-rate; https://www.oecd.org/tax/revenue-statistics-sweden.pdf https://www.oecd.org/tax/revenue-statistics-sweden.pdf (Sweden - 6% of revenue from corporate taxes); https://www.oecd.org/tax/revenue-statistics-united-states.pdf https://www.oecd.org/tax/revenue-statistics-united-states.pd... (US - 8% of revenue from corporate taxes). If we want to help people, we need to raise taxes on the middle and upper middle class and spend it on safety net services, like everyone else in the developed world: https://taxfoundation.org/how-scandinavian-countries-pay-their-government-spending; https://taxfoundation.org/how-scandinavian-countries-pay-the... https://www.oecd.org/tax/revenue-statistics-sweden.pdf https://www.oecd.org/tax/revenue-statistics-sweden.pdf (Sweden - 61 % of revenue from from middle class taxes: payroll, social insurance, and goods and services); https://www.oecd.org/tax/revenue-statistics-united-states.pdf https://www.oecd.org/tax/revenue-statistics-united-states.pd... (USA - 41% of revenue from same sources).
- kasey_junk 7y ago
  I don’t disagree my point is student loan debt forgiveness is an extremely regressive tax policy. That the left most of the Democratic Party is arguing for it is pretty concerning. Especially when the right most of the Republican Party is coming after the social safety net.

rayiner 7y ago

The recent tax cuts are a side show. The main effect was to bring U.S. corporate tax rates in line with Randian hell-holes like... Sweden: https://tradingeconomics.com/sweden/corporate-tax-rate; https://tradingeconomics.com/sweden/corporate-tax-rate; https://www.oecd.org/tax/revenue-statistics-sweden.pdf https://www.oecd.org/tax/revenue-statistics-sweden.pdf (Sweden - 6% of revenue from corporate taxes); https://www.oecd.org/tax/revenue-statistics-united-states.pdf https://www.oecd.org/tax/revenue-statistics-united-states.pd... (US - 8% of revenue from corporate taxes). If we want to help people, we need to raise taxes on the middle and upper middle class and spend it on safety net services, like everyone else in the developed world: https://taxfoundation.org/how-scandinavian-countries-pay-their-government-spending; https://taxfoundation.org/how-scandinavian-countries-pay-the... https://www.oecd.org/tax/revenue-statistics-sweden.pdf https://www.oecd.org/tax/revenue-statistics-sweden.pdf (Sweden - 61 % of revenue from from middle class taxes: payroll, social insurance, and goods and services); https://www.oecd.org/tax/revenue-statistics-united-states.pdf https://www.oecd.org/tax/revenue-statistics-united-states.pd... (USA - 41% of revenue from same sources).

kasey_junk 7y ago
I don’t disagree my point is student loan debt forgiveness is an extremely regressive tax policy. That the left most of the Democratic Party is arguing for it is pretty concerning. Especially when the right most of the Republican Party is coming after the social safety net.