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Jobs or Student Loan Forgiveness?

How would you feel if the tax cuts for the wealthiest corporations and individuals went toward paying off the entirety of American student loan debt? Well, if the Students Over Special Interest Act has its way, you won’t soon be in a position to make that choice on your own. President Trump’s December tax reform law cut about $1.5 trillion in total taxes; which of course led Democrats to criticize that those tax cuts were only for the wealthy corporations, wealthy individuals, and what they consider to be special interest groups.

How the bill crushes student loan debt

According to GovTrack, student loan debt in the US equals around $1.38 trillion. The Students Over Special Interest Act, which was originally proposed by Rep. Jared Polis (D-CO2), would repeal the December tax cuts and instead use the money to eliminate all student loan debt for over 43 million Americans.

The bill is supported by congressional lefties who want to take the tax cut from those they feel need it the least and instead put the funds toward lower-class and middle-class individuals struggling to pay back their student loans. “So many people go to school, get a job, and work hard but still struggle to get ahead because they are weighted down by student loans. It’s time to help them get out from the mountain of debt they are under,” Polis said in a press release. Polis argues that repealing the “Republican sweetheart deals” for corporations will help to cancel all student loan debt, make college more affordable, and have money in the reserve to reduce the US deficit.

This sounds great, and will definitely get approval from those in the general public who fall into this particular category.  However, will this bill somehow alter businesses and job availability as we know it here in America?

American corporations digging deep

When discussing his rationale for tax cuts geared toward American businesses, Trump continued to state how this move would assist in reviving the business climate in the US. In a speech promoting his tax cuts to a community in Ohio, Trump talked about how Apple announced a $350 billion investment into America. According to Trump, this investment would include the hiring of over 20,000 Americans who are currently struggling to find employment.

Additionally, the president talked of investments from other corporations that have also announced billion dollar investments that they are planning to make on American soil to help support the economic growth of the US. By providing tax cuts to corporations that are willing to use the extra funds saved to build plants that will hire US workers, Trump is attempting to improve the employment rate for both the low-income and middle-class working men and women. Once again, just as the bill to eliminate student debt serves some—it can be argued that cutting taxes for corporations willing to provide additional jobs is also a benefit that can’t be overlooked.

Rich and poor tug of war

Is the Students Over Special Interest Act a bill that presents a tug of war scenario between the haves and the have-nots? Is this about having the choice between eliminating student debt so that you can start fresh versus having a job to pay for the student debt? It would indeed be refreshing to have both, but of course, this is rarely the case. Thus far, the odds of this bill passing will depend on whether or not the Democrats can take over in 2018 or later. Reversing tax cuts isn’t as easy as it sounds, so with that said, you can expect to keep dishing out the money for your education…but at least you may have a job to provide you with the funds to do so.

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About Audra L.

Audra L. is an author, columnist and community activist who's dedicated to finding truth through research and effective communication. She received her degree in Public Policy and teaches Community Development, Public Speaking and Communications Law to youth throughout the nation. She is the recipient of over 23 awards and honors for her commitment to community outreach initiatives.

12 comments

  1. This is fascinating – the typical Democratic Party answer to a problem that should never existed in the first place – where N the Constitution does it state the American taxpayer should foot the education costs of anyone, anywhere, anytime?? if Uncle Sam would “turn off the spikit” the costs of post-secondary education would drop considerably. This is a local, county, state issue from the beginning!! Plus, the answer for this sits N the laps of parents, grand parents, aunts, & uncles who desire their children to succeed!! It comes with the responsibility of raising children. Like the article states, American Corporations employee & support people!!

  2. It is not jobs vs student debt. Student debt is hurting our country, our economy and our future generations. Its not a liberal v conservative thing, its a problem that we need to solve as a country. The student debt crisis is limiting the financial ability of a whole generation from buying homes, buying basic needs to have the American Dream. The American Dream does not exist for this generation. The student debt is not caused by careless youth who overspent, it was caused by the high cost of college and the student loan industry. We were all told that to get a good job you needed a good education. But now the good job doesn’t pay enough to pay the cost of a student loan payment. My son’s student loan payment has now been raised from $550 a month to over $1,000 by the lending company. That is a crime and is why this generation needs to be saved from the greed of the student loan industries. The United States is the only country that puts profits over the education of our children. Fixing the student loan crisis will fix the economy by allowing this generation to use their money to buy homes, start a family etc.

    • Wrong Cliff. Student debt is the responsibility of those who took out the loans, just like any other loan agreement. The problem is that these people borrowed money to acquire useless liberal arts degrees which qualify them for absolutely nothing in the job market. Connect the dots sir. The rest of the country is not responsible for the financial mistakes of others. I think it is called personal responsibility.

    • It is not the taxpayer’s or government’s job to pay for college. The major problem is salaries of College professors and Presidents. No College President is worth 1.4 million dollars per year. When you tax Corporations more they just pass that cost on to the consumers in higher prices in the products and services that they provide. We need to get away from income tax and go to a system that taxes consumption, if you buy less you pay less taxes.

    • Sorry your son has such a steep bill to pay. I can see just how difficult that must be for him.

      The answer to this problem doesn’t lie with a bailout of your son’s debt – forced upon those who *did not* incur that debt at the point of a gun(where I come from that’s called a stick-up) – rather the answer lies with you, your son, me, my family members, and all Americans *learning to live within our means*.

      Going to college to get some knowledge is a privilege, *NOT A RIGHT* – it is not enumerated as such in any of this country’s founding documents – but rather is a choice. If you/your family member decides that you wish to seek higher education, you have options for making that desire a reality.

      1) Work while in junior high/high school, saving all monies earned for college tuition.

      2) Dad/Mom, if you really feel that junior MUST get a college degree, save money from the time they are young children for their college – I think we call that a *college fund*.

      3) Son/Daughter – Plan on working full or part time while going to school. Many are the hard working professionals in our society today who desired parchment so much that they were willing to work for it. Yes, it’s tough. But if that piece of paper is of such great value to you, it must be worth the sacrifice….

      4) Part-time schooling – Tell your Son to ….gasp…. GET A JOB!!! He can get a full time job, and do night school. Millions of Americans have successfully used this approach to acquire their degree. Takes longer, skips the debt, teaches good work ethic, makes one really appreciate the accomplishment.

      5) Learn a trade – The ‘need’ for a college degree is merely a cultural ‘bubble in time’. It was for centuries understood that tradesmen are the foundation stones upon which an economy is built. Without tradesmen our way of life disappears. That’s why tradesmen are in such high demand, and why jobs in the trades demand such high wages – $100k per annum is not unusual. Don’t believe me? Ask Mike Rowe: http://profoundlydisconnected.com/
      Once again, our insanely persistent belief that our kids MUST go to college to be successful comes from the institutionalized class-based thinking of elitist progressives, foisted upon us and our children through the progressive indoctrination machine – our primary, secondary, and collegiate schools.

      6) Teach your children personal responsibility – Help your children understand that the ‘taxpayer’ is not responsible for your debts… *YOU ARE*! We’ve never in our history had such an entitlement-minded bunch of worthless snowflakes as we have today. Why? Progressivism in our schools, progressivism in our colleges, progressivism in our families etc. It is a deliberate effort to create mindless progressive-voting drones out of our greatest asset – our children! And we have no one to blame for this self-destructive cultural phenomenon but ourselves. STOP LOOKING FOR HANDOUTS!

      7) Join the ROTC – The US Military is always in need of good officers, and for the exchange of a commitment of a few years of your time, the government will pay for your tuition. Who knows, you might actually change your perspective on the purpose of your life being one of self-serving narcissism to one of self-sacrifice and service to country/others. What a concept!

      8) Earn a scholarship – Work really hard on getting/maintaining high grades in high school, stay on the honor roll, and watch those scholarship offers roll in. If you are not a good student in high school, you aren’t likely to do well in college anyway, so why burden yourself/the system with yet another mediocre student who needs to gain some maturity in life before going on to bigger and better things? Take some time to GROW UP first, then when you are more mature/responsible, study for and take your entrance exams, and follow one of steps 1-7 to obtain your degree.

      I feel sick for my country, for the depths to which we as a people/culture have sunk. It is shameful to think it appropriate to put ourselves in such great debt, for piece of paper that has only relative value, and then expect someone else to bail us out.

      Oh, and by the way, those stats you provided? That is what is called a straw man, a deflection etc. Don’t examine the underlying cause of the problem, no no don’t focus on that! Rather look at some completely unrelated stat to justify our untenable, self-serving, narcissistic, irresponsible behavior. Yes, you heard me correctly, this is a personal *BEHAVIORAL* issue, not a national crisis…

      If you/your son/daughter learns a lesson about personal responsibility, not going into debt, learning to live within your means etc. then the lesson learned is invaluable.

      I’ll leave you with this quote from a very famous person who understood these concepts better than anyone else alive:

      “For which one of you, when he wants to build a tower, does not first sit down and calculate the cost to see if he has enough to complete it?

      And

      “The borrower is slave to the lender”

      Food for thought, eh?

  3. The koolaid drinking, looney lefty, socialist. Communist, fascist, progressive Democrats make me sick.
    They want to turn the USA into a communist, socialist fascist third world country.
    I am in Hope’s that people in the USA will wake up and see what the lefty dems are doing to destroy America.
    I wish people would read the federalist papers and other works that were written to explain why our form of government was set up the way it is.
    Unfortunately, history isn’t taught in school anymore.

  4. This apparent ‘choice’ between one ‘good thing’ and another ‘good thing’ is not a difficult one. Cutting taxes affects ALL Americans, from every political spectrum.

    When both sides of the isle prosper, this is viewed as a ‘bad thing’ by the leftist progs. That is because the wicked can only see themselves as ‘winning’ when anyone who doesn’t think as they do (think ‘mind police’) is losing.

    Our ‘institutions of higher learning’ have become nothing more than a continuation of the progressive indoctrination centers that our public schools have been for quite some time. Paying off student loans using tax money provided by hard working wage earners and businesses will pour that 1.38 trillion $$$ into funding the progressive indoctrination machine.

    Just as illegal immigration, anti-voter registration, BLM and many other ‘issues’ are merely a means to increase the mindless amoral progressive voting rolls, so will pouring 1380 billion $$$ into progressive drone manufacturing mills.

    Tax cuts for all – including businesses – promotes and supports freedom of choice and thought, allowing those who work hardest and are the most productive members of society – traditional families – to improve their lives. This creates a positive ripple effect in communities across America, reducing crime rates, increasing personal responsibility, improving the general welfare of the people etc.

    Taking away tax cuts – which benefit all – for the sake of paying off student loans is yet another steal-from-the-hard-working-to-enable-the-wicked scheme. In the grand scheme of things this hurts everyone, even those promoting this grand scheme.

    When we give up our individual responsibility for the debts that we incur for $$$ from the great sugar daddy in DC we become less independent(read: free!) and more dependent(read: slaves) to the progressive machine, a machine which has only one interest in mind: empowerment of the few(elites/politicians etc) at the cost of all others.

    No equivalency is appropriate with these two ‘choices’….

  5. How about requiring the students to get educated in a field that they can get a job in. Like STEM fields!!!!!!!!
    Gender studies and liberal arts not exactly critical!!!!!

  6. Does that mean all of the people who actually paid off their student loans get a refund? What? No…well, these kids made the debts they should pay the debt like everybody before them. Where does it end? Illegals, free scoops, raises for worthless educators, more jobs, less jobs, take back the tax cut. WTF is happening in this country and where do we as tax payers draw the line? Smdh

  7. First you save for college
    Then you choose a school that you can afford
    Then, you work overtime, take extra classes and finish in three (3) years instead of four (4)
    If you’re getting in over your head, take time off to work, save money and then go back
    If this is too complicated, start off at a Jr. college, it’s quite a bit cheaper.
    And anyone too stupid to have to pay out $1,000 a month for college loans shouldn’t have been there in the first place.

  8. Large corporations do not pay taxes – the CONSUMER pays the taxes. When corporations are taxed more, the tax cost (plus ‘administration’ fees) are rolled into the cost of the product. No company pays taxes, they just collect it and pass the cost on down the line.

  9. If the students don’t like having debt, they need to work more and cut expenses. They can get part time jobs, live in dorms and eat on the school meal plan. They do not need fancy cars, expensive phones or name brand clothes. It’s time for these over indulged whiners get a rude awakening to the real world. They do not have to go to Ivy League schools or out of state colleges of tghey can’t afford it. They need to pick a school and a major that will help them get a job, not the school with their favorite football or basketball team, unless they are planning a career in the NFL or the NBA.

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