The justices ruled in two cases challenging President Joe Biden’s authority to forgive federal student loans under a 2003 law called the HEROES Act.

And the working class gets the shaft yet again

  • iriyan@lemmygrad.ml
    0·
    1 year ago

    Now wait a damn minute. It is not just the working class that owes loans for schooling, one may say the lowest economic class in the US made the least use of student loans, it is the middle class that benefitted the most. Kids that got out of public school and went straight to work, either in factory, construction, etc. made very little use of those loans. On the other hand some who did get loans may have used them as capital to escape work and are now well off, just didn’t feel like paying.

    The populist right invested in this reality and got a significant part of the real working class who never saw a student loan to “rightfully” say if you are going to donate 30-50.000 to others why not give me just as much too?

    The neoliberal nightmare (Biden) as brother/comrade Manning Marable called him (in contradiction to the “neo-fascist disaster” Trump) invested in appealing to this lower middle class of managerial stuff and their kids, to give them a gift so he can get elected. And he did probably on this promise for a gift himself. He may have known it wouldn’t legally make it all the way so it was a cheap promise to make. Who knows what’s next from this war-monger constitution abolitionist (covid violations of constitutional human rights).

    The 1.2 trillion of fake dollars printed and distributed wasn’t illegal, corporations sucked it all up, but loan wavers are, because they are not for everyone’s benefit.

    EDIT: To go to a short term trade school to get a license or certificate within months (such as CDL driver’s license) only costs a few thousands in loans and mostly the payments of were made sortly after by an employer. To go through university and graduate education loans could easily reach 50+ k$, for which an MBA could graduate, start an Inc. consulting/accounting/financing and as a person can have unpaid loans while their business could be bringing millions. Truck driver got 3000, and it was paid 6-9mos after first job. Golf-club life member owes $100k with penalties and interest and doesn’t care, it was government guaranteed and nobody is chasing to throw him in prison.

    • LarkinDePark@lemmygrad.ml
      01·
      1 year ago

      What on earth is “the middle class”? Some kind of British tabloid term?

      Reading on… what is the “lower middle class”?

    • Black AOC@lemmygrad.ml
      1·
      1 year ago

      Honestly, part of me wonders if that’s not the case. Can’t tell me Empire doesn’t want to bring back debt slavery.