Biden Nixes $39 Billion In Student Debt For More Than 800,000 Borrowers

"Tax cuts help a whole lot more people than debt forgiveness" = assumption, stated as if it were fact. Debt relief also has an economic impact because it acts as a tax cut. In both cases, people see their cash outflows decrease, either by less taxes or by less debt payments.

"Tax cuts are good policy" = another assumption. I'll agree that tax cuts are good "politics" because that's simply another form of vote buying. Until a political party has the guts to simultaneously cut spending (which never happens), funding the tax cuts through debt is simply stealing money from your kids and grandkids (because they will have to pay that debt).

MSG Joseph Cristofaro - Yes, and if the politicians won't cut spending by just as much as they cut taxes, they're simply redistributing wealth from the young (or unborn) to the old. That's not good policy at all; I'd even say that's horrible policy. And, the government comes to the aid of the businesses all the time (tax breaks, subsidies, bailouts, etc.). Nobody forced those business owners to start a company. They opened it knowing the risks, but they want the government to pay in some way to cover those risks. There are consequences to operating a business and the public should not be assuming it.

MSG Joseph Cristofaro - But without consumers who can buy products, businesses won't exist. Without demand, a market won't exist. Where demand exists, supply will develop to meet it. Why help the supply side (businesses) when you would be better off helping the demand side (customers)? You should look at the research on the relationship between tax cuts and economic growth. The research is far from definitive that tax cuts spur economic growth. We've had economic growth after tax cuts and tax increases. We've had economic recessions after tax increases and tax cuts.

MSG Joseph Cristofaro - Who said anything in favor of tax increases? I'm saying that if taxes are going to be cut, spending should also be cut. If spending isn't cut, that's just taking money from kids and grandkids and transferring it to their parents and grandparents (other people's money). That's a wealth transfer, or "Socialism" as many conservatives put it. And, if that transfer is sent primarily to business owners and wealthy investors, that's a supply-side tax cut that ignores the fact that consumer demand drives the economic engine. There needs to be more demand-side focus on tax policy and less funding through debt.