info
Google Groups no longer supports new Usenet posts or subscriptions. Historical content remains viewable.
Dismiss
Student loan forgiveness proves Democrats are the party of the rich
2 views
Skip to first unread message
John Dillinger
Mar 26, 2022, 3:17:17 PM3/26/22
to
HTTPS://NYPOST.COM
Student loan forgiveness proves Democrats are the party of the rich
Kevin D. Williamson
If you want an indication of how completely the Democrats have been
transformed from the workingmen's party to the party of affluent
professionals, consider how intensely progressives are pressuring
President Biden to extend -- for the sixth time -- the freeze on
college-loan repayments.
This is class war -- and the folks with 21st-century versions of
monocles and top hats are winning.
The people who have college loans to pay back are, on average, pretty
well-off. That's no surprise: Only one in three working-age Americans
are college graduates, and college graduates earn more money than
people who have only high-school diplomas. So do people who go to
college but don't get a degree. College-loan forgiveness is first and
foremost a government handout to people who have higher-than-average
incomes.
If you know anything about higher education, you will not be surprised
to learn that the people with the most college debt are the people
with the highest incomes. Those big loans usually don't come from
financing a liberal-arts degree at an Ivy League college: The elite
schools have big money of their own, which is why, for example, the
vast majority of Princeton graduates finish with no student debt at
all, while the small share who do take out loans typically finish with
less with debt less than $10,000.
Instead, the big loans usually go toward financing graduate studies,
especially professional education: law school, medical school, MBAs,
and other preparation for high-paying careers. Americans sometimes
forget where the money actually lands in our economy: Your local
junior-high principal doesn't have Jeff Bezos' money, but he makes
nearly $20,000 a year more than the typical architect, earning just
shy of $100,000 on average in 2020, according to the Bureau of Labor
Statistics. That guy can afford to pay his student loans. So can his
lawyer ($126,930 average salary) and the local nurse practitioner
($117,670), who earns about as much money as the typical aerospace
engineer ($118,610).
Policy analysts, including progressives, who take the time to run the
numbers consistently, come to the same conclusion: Every program for
college-loan forgiveness under serious consideration
disproportionately benefits high-income people. A study by the
University of Pennsylvania's Sylvain Catherine and the University of
Chicago's Constantine Yannelis finds that a universal debt-forgiveness
program would benefit earners in the top 10% five times as much as
those at the bottom; capping forgiveness at $50,000 -- or even at
$10,000 -- would produce similar results, providing much more benefit
to the well-off than to those who are struggling. As the scholars
note, this is true in large part because big student loans go along
with big incomes.
The poorest Americans won't benefit much from college-loan forgiveness
for the same reason they don't benefit from income-tax cuts -- the
same affluent people who pay most of the income taxes also have most
of the college debt.
Why?
Because Democrats prefer to use your money when buying votes. In the
United States, the cities are Democratic and the countryside is
Republican -- the real political contest is in the suburbs, which is
where those affluent, college-educated professionals live and vote.
The Democrats are happy to help the rich get richer, as long as they
vote the right way.
Kevin D. Williamson is the author of "Big White Ghetto: Dead Broke,
Stone-Cold Stupid, and High on Rage in the Dank Woolly Wilds of the
'Real America'."
--
Democracy: Three wolves and a lamb vote for dinner.
Republic: Three wolves and a lamb vote for dinner,
but the lamb is armed & has the right
to an appeal in a court of law.
Communism: Three Wolves have eaten the lamb
and are fighting amongst themselves
for the scraps.
Islamism: A man in a cave writing gibberish rules
over the people of a territory!
Student loan forgiveness proves Democrats are the party of the rich
Kevin D. Williamson
If you want an indication of how completely the Democrats have been
transformed from the workingmen's party to the party of affluent
professionals, consider how intensely progressives are pressuring
President Biden to extend -- for the sixth time -- the freeze on
college-loan repayments.
This is class war -- and the folks with 21st-century versions of
monocles and top hats are winning.
The people who have college loans to pay back are, on average, pretty
well-off. That's no surprise: Only one in three working-age Americans
are college graduates, and college graduates earn more money than
people who have only high-school diplomas. So do people who go to
college but don't get a degree. College-loan forgiveness is first and
foremost a government handout to people who have higher-than-average
incomes.
If you know anything about higher education, you will not be surprised
to learn that the people with the most college debt are the people
with the highest incomes. Those big loans usually don't come from
financing a liberal-arts degree at an Ivy League college: The elite
schools have big money of their own, which is why, for example, the
vast majority of Princeton graduates finish with no student debt at
all, while the small share who do take out loans typically finish with
less with debt less than $10,000.
Instead, the big loans usually go toward financing graduate studies,
especially professional education: law school, medical school, MBAs,
and other preparation for high-paying careers. Americans sometimes
forget where the money actually lands in our economy: Your local
junior-high principal doesn't have Jeff Bezos' money, but he makes
nearly $20,000 a year more than the typical architect, earning just
shy of $100,000 on average in 2020, according to the Bureau of Labor
Statistics. That guy can afford to pay his student loans. So can his
lawyer ($126,930 average salary) and the local nurse practitioner
($117,670), who earns about as much money as the typical aerospace
engineer ($118,610).
Policy analysts, including progressives, who take the time to run the
numbers consistently, come to the same conclusion: Every program for
college-loan forgiveness under serious consideration
disproportionately benefits high-income people. A study by the
University of Pennsylvania's Sylvain Catherine and the University of
Chicago's Constantine Yannelis finds that a universal debt-forgiveness
program would benefit earners in the top 10% five times as much as
those at the bottom; capping forgiveness at $50,000 -- or even at
$10,000 -- would produce similar results, providing much more benefit
to the well-off than to those who are struggling. As the scholars
note, this is true in large part because big student loans go along
with big incomes.
The poorest Americans won't benefit much from college-loan forgiveness
for the same reason they don't benefit from income-tax cuts -- the
same affluent people who pay most of the income taxes also have most
of the college debt.
Why?
Because Democrats prefer to use your money when buying votes. In the
United States, the cities are Democratic and the countryside is
Republican -- the real political contest is in the suburbs, which is
where those affluent, college-educated professionals live and vote.
The Democrats are happy to help the rich get richer, as long as they
vote the right way.
Kevin D. Williamson is the author of "Big White Ghetto: Dead Broke,
Stone-Cold Stupid, and High on Rage in the Dank Woolly Wilds of the
'Real America'."
--
Democracy: Three wolves and a lamb vote for dinner.
Republic: Three wolves and a lamb vote for dinner,
but the lamb is armed & has the right
to an appeal in a court of law.
Communism: Three Wolves have eaten the lamb
and are fighting amongst themselves
for the scraps.
Islamism: A man in a cave writing gibberish rules
over the people of a territory!
Siri Cruise
Mar 26, 2022, 9:34:03 PM3/26/22
to
In article <t1norr$408$1...@dont-email.me>,
--
:-<> Siri Seal of Disavowal #000-001. Disavowed. Denied. Deleted. @
'I desire mercy, not sacrifice.' /|\
Discordia: not just a religion but also a parody. This post / \
I am an Andrea Doria sockpuppet. insults Islam. Mohammed
John Dillinger <John.Di...@bankrobber.invalid> wrote:
> Student loan forgiveness proves Democrats are the party of the rich
> Kevin D. Williamson
So you're arguing against the Ten Commandments.
> Student loan forgiveness proves Democrats are the party of the rich
> Kevin D. Williamson
--
:-<> Siri Seal of Disavowal #000-001. Disavowed. Denied. Deleted. @
'I desire mercy, not sacrifice.' /|\
Discordia: not just a religion but also a parody. This post / \
I am an Andrea Doria sockpuppet. insults Islam. Mohammed
Anonymous Reactionary
Mar 26, 2022, 11:13:43 PM3/26/22
to
Siri Cruise wrote:
> In article <t1norr$408$1...@dont-email.me>,
> John Dillinger <John.Di...@bankrobber.invalid> wrote:
>
>> Student loan forgiveness proves Democrats are the party of the rich
>> Kevin D. Williamson
>
> So you're arguing against the Ten Commandments.
>
Chapter and verse, please.
> In article <t1norr$408$1...@dont-email.me>,
> John Dillinger <John.Di...@bankrobber.invalid> wrote:
>
>> Student loan forgiveness proves Democrats are the party of the rich
>> Kevin D. Williamson
>
> So you're arguing against the Ten Commandments.
>
pothead
Mar 26, 2022, 11:27:38 PM3/26/22
to
> HTTPS://NYPOST.COM
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
Education is for the leftist elite who control us all.
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
Klaus Schadenfreude
Mar 27, 2022, 8:18:38 AM3/27/22
to
On Sat, 26 Mar 2022 18:34:01 -0700, Siri Cruise <chine...@yahoo.com>
wrote:
>In article <t1norr$408$1...@dont-email.me>,
> John Dillinger <John.Di...@bankrobber.invalid> wrote:
>
>> Student loan forgiveness proves Democrats are the party of the rich
>> Kevin D. Williamson
>
>So you're arguing against the Ten Commandments.
So you're arguing for Clericalism
wrote:
>In article <t1norr$408$1...@dont-email.me>,
> John Dillinger <John.Di...@bankrobber.invalid> wrote:
>
>> Student loan forgiveness proves Democrats are the party of the rich
>> Kevin D. Williamson
>
>So you're arguing against the Ten Commandments.
pothead
Mar 27, 2022, 5:28:53 PM3/27/22
to
> HTTPS://NYPOST.COM
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
pothead
Mar 28, 2022, 1:44:26 PM3/28/22
to
> HTTPS://NYPOST.COM
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
pothead
Mar 28, 2022, 7:58:48 PM3/28/22
to
> HTTPS://NYPOST.COM
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
pothead
Mar 29, 2022, 11:29:56 AM3/29/22
to
> HTTPS://NYPOST.COM
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
pothead
Mar 30, 2022, 10:43:14 AM3/30/22
to
> HTTPS://NYPOST.COM
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
pothead
Mar 30, 2022, 5:07:33 PM3/30/22
to
> HTTPS://NYPOST.COM
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
pothead
Mar 31, 2022, 12:53:24 PM3/31/22
to
> HTTPS://NYPOST.COM
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
pothead
Apr 1, 2022, 9:53:55 AM4/1/22
to
> HTTPS://NYPOST.COM
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
pothead
Apr 3, 2022, 7:26:37 AM4/3/22
to
> HTTPS://NYPOST.COM
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
pothead
Apr 3, 2022, 6:38:06 PM4/3/22
to
> HTTPS://NYPOST.COM
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
pothead
Apr 4, 2022, 2:01:16 PM4/4/22
to
> HTTPS://NYPOST.COM
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
>Student loan forgiveness proves Democrats are the party of the rich
>Kevin D. Williamson
>
KoOks of San Francisco
Feb 19, 2024, 7:45:03 PMFeb 19
to
In article <t1olj8$362pt$1...@news.freedyn.de>
<governo...@gmail.com> wrote:
>
> Modern day lazy unaffected niggers do not deserve any fucking reparations.
> They didn't give one flying fuck about any possible slave shit until money was waved.
>
The Builders of the Transcontinental Railroad
President Abraham Lincoln signed the Pacific Railroad Act into
law on July 1, 1862. The act gave two companies, the Union
Pacific Railroad and the Central Pacific Railroad,
responsibility for completing the transcontinental railroad and
authorized
extensive land grants and the issuance of 30-year government
bonds to finance the undertaking. The Union Pacific was to lay
track westward from a point near Omaha, Nebraska; the Central
Pacific was to build eastward from Sacramento, California.
The labor required to build the first transcontinental railroad
was extensive. The main laborers, the ones who laid the track,
did
back-straining work for days on end, for not necessarily high
wages, in sometimes brutal conditions. This massive
transportation
construction project also required an entire network of support,
including medical staff, cooks, and proprietors of provisions,
stores and living areas.
Irish immigrants were the primary early builders of the Central
Pacific Railroad. Management of the initial railroad work was not
very inspirational, and pay was not exactly high; as a result,
many Irish workers walked off the job. To fill the gap, Central
Pacific
turned to Chinese immigrants, who were travelling across the
Pacific Ocean in increasing numbers, 40,000 in the 1850s alone.
Many of these Chinese immigrants had come to California for the
Gold Rush and had stayed.
<https://www.uen.org/transcontinentalrailroad/downloads/G7IrishW
orkersTranscontinentalRailroad.pdf>
<governo...@gmail.com> wrote:
>
> Modern day lazy unaffected niggers do not deserve any fucking reparations.
> They didn't give one flying fuck about any possible slave shit until money was waved.
>
The Builders of the Transcontinental Railroad
President Abraham Lincoln signed the Pacific Railroad Act into
law on July 1, 1862. The act gave two companies, the Union
Pacific Railroad and the Central Pacific Railroad,
responsibility for completing the transcontinental railroad and
authorized
extensive land grants and the issuance of 30-year government
bonds to finance the undertaking. The Union Pacific was to lay
track westward from a point near Omaha, Nebraska; the Central
Pacific was to build eastward from Sacramento, California.
The labor required to build the first transcontinental railroad
was extensive. The main laborers, the ones who laid the track,
did
back-straining work for days on end, for not necessarily high
wages, in sometimes brutal conditions. This massive
transportation
construction project also required an entire network of support,
including medical staff, cooks, and proprietors of provisions,
stores and living areas.
Irish immigrants were the primary early builders of the Central
Pacific Railroad. Management of the initial railroad work was not
very inspirational, and pay was not exactly high; as a result,
many Irish workers walked off the job. To fill the gap, Central
Pacific
turned to Chinese immigrants, who were travelling across the
Pacific Ocean in increasing numbers, 40,000 in the 1850s alone.
Many of these Chinese immigrants had come to California for the
Gold Rush and had stayed.
<https://www.uen.org/transcontinentalrailroad/downloads/G7IrishW
orkersTranscontinentalRailroad.pdf>
0 new messages