George Will characterizes Biden’s student loan cancellation as “the greatest wealth transfer in history” (“Monument to Destructive Assumptions,” The Columbian, April 17).
Usually, Will graces us with his history lesson on the relevance of a long-dead soul today. In this column he forgets the story of school fees. Until the Reagan era, schools were primarily paid for by government, state, local or federal authorities. It was part of the American dream: an education. America paid for it. No more. Now it’s a “wealth transfer” that they, wealthy Americans, regret.
Greg Jayne, in the same article, pointed out that the wealthiest pay 3.4% in taxes, a lower percentage than many Americans pay. Jayne also pointed out that 57% of households pay no federal taxes. Jay Ambrose in an old article also expressed this opinion. What Ambrose omitted, Jayne put in: that an increase to 57% without taxes was essentially due to zero, low or lower income.
Will and Ambrose both expect the cashless to pay more and the rich to pay even less. Good Republicans. As growing deficits show, no one is paying the bills anyway. So press Biden, help the students. The rich don’t need it, they are rich!