It increases taxes on the rich and then uses those tax funds to redistribute wealth. Canceling student debt on the other hand would be a massive handout for th

It increases taxes on the rich and then uses those tax funds to redistribute wealth. Canceling student debt on the other hand would be a massive handout for the rich as the majority of student debt is held by rich and upper middle class Americans. Students from from the poorest quartile of households have just 5% of the student debt [1]. 1. https://educationdata.org/student-loan-debt-by-income-level https://educationdata.org/student-loan-debt-by-income-level