by Summary:
The recently passed Republican tax cut package will cost about .4 trillion over a decade, according to independent figures. It’s a very expensive policy that currently is not offset by an increase in government revenue, or by spending cuts.Another measure would cost about the same amount and it too would be hard to justify as a deficit-busting policy. But it might have greater economic benefits, say economists. That policy would be canceling all student debt. The contention comes from a paper from the Levy Economics Institute at Bard College, which models the macroeconomic impact of relieving 44 million Americans of what they owe for college. About 90% of the .4 trillion is held by the federal government. The rest is in the form of private loans. This policy would be more
Topics:
Mike Norman considers the following as important: Catherine Ruetschlin, debt cancellation, Levy Institute, Marshall Steinbaum, Scott Fullwiler, Stephanie Kelton, Student debt
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The recently passed Republican tax cut package will cost about .4 trillion over a decade, according to independent figures. It’s a very expensive policy that currently is not offset by an increase in government revenue, or by spending cuts.Another measure would cost about the same amount and it too would be hard to justify as a deficit-busting policy. But it might have greater economic benefits, say economists. That policy would be canceling all student debt. The contention comes from a paper from the Levy Economics Institute at Bard College, which models the macroeconomic impact of relieving 44 million Americans of what they owe for college. About 90% of the .4 trillion is held by the federal government. The rest is in the form of private loans. This policy would be more
Topics:
Mike Norman considers the following as important: Catherine Ruetschlin, debt cancellation, Levy Institute, Marshall Steinbaum, Scott Fullwiler, Stephanie Kelton, Student debt
This could be interesting, too:
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The recently passed Republican tax cut package will cost about $1.4 trillion over a decade, according to independent figures. It’s a very expensive policy that currently is not offset by an increase in government revenue, or by spending cuts.
Another measure would cost about the same amount and it too would be hard to justify as a deficit-busting policy. But it might have greater economic benefits, say economists. That policy would be canceling all student debt.
The contention comes from a paper from the Levy Economics Institute at Bard College, which models the macroeconomic impact of relieving 44 million Americans of what they owe for college. About 90% of the $1.4 trillion is held by the federal government. The rest is in the form of private loans.
This policy would be more macro-economically stimulative because of who the beneficiary is,” says Marshall Steinbaum, research director at the left-leaning Roosevelt Institute, and one of the authors of the report. “The tax cuts will go to higher income households that have a lower propensity to spend the money. We show that reducing the burden of student debt on households enables them to spend more.”...Fast Company
Want To Stimulate The Economy? Cut Student Debt–Not Taxes
Ben Schiller