Senator Elizabeth Warren recently tweeted:
- Nearly 90% of President Biden’s student loan cancellation plan will go to people earning $75,000 or less.
- Higher education is supposed to be a ticket to the middle class—but student debt has become an anchor.
I have a two questions.
- Why are college graduates earning less than $75,ooo and what is the Democratic Party doing to raise these wages?
- When did a higher education become the ticket to the middle class? This was not so in the 1950’s, 60’s or 70’s. Please spare me the empty reply that it’s the result of a free market. Free markets are like Unicorns, they do not exist. All markets are manipulated (rigged) by those in power.
Finally, as it relates to the loan forgiveness without higher wages, I will leave you with this quote from Reinhold Niebuhr, Moral Man and Immoral Society, 1932.
We have previously suggested that philanthropy combines genuine pity with the display of power and that the latter element explains why the powerful are more inclined to be generous than to grant social justice.
Loan forgiveness without higher wages is not social justice, it is charity from the powerful who will not change the status quo that led to the need for charity.