Hacker News new | ask | show | jobs
by dmitrygr 1476 days ago
46 million Americans have student debt, 148 million are tax payers. if you want to forgive 10k for each borrower, that is 3.1K from each taxpayer, assuming zero overhead (LOL), if you want to forgive 50k/debtor, 15.5k per taxpayer, again assuming zero overhead (still LOL)
1 comments

Surprisingly taxes don't work this way. The federal government can simply write this debt off by paying itself. It doesn't have to literally collect the dollars from tax payers.