Schumer Pushing Biden For Student Loan Forgiveness

Schumer Pushing Biden For Student Loan Forgiveness

Schumer Pushing Biden For Student Loan Forgiveness

In the spirit of Christmas, Chuck Schumer is trying to give a gift with someone else’s money. Because that’s how government works.

Senator Schumer, who is hoping Santa brings him the title of Majority Leader for Christmas with wins in Georgia (this is your daily reminder that THE GOP MUST HOLD THE SENATE IN GEORGIA), is already making plans for indebting the younger generations to the Democrat party. First step: promise them all the free stuff. Second step: pressure Joe Biden to follow through on the free stuff.

Schumer held a press conference alongside Democratic Congressmen-elect Ritchie Torres, Mondaire Jones and Jamaal Bowman of New York, during which the group announced they have “come to the conclusion” that Biden can “forgive $50,000 of debt the first day he becomes president.”

“You don’t need Congress, all you need is the flick of a pen and President-elect Biden — then President Biden — can make this happen,” Schumer said.”

He added that the group is urging Biden to choose a secretary of education who will support student loan forgiveness because “it’s up to the secretary of education officially, but if President Biden wants it, I’m sure it will happen.”

“This debt is a huge burden on the backs of our students standing in the way of them and their economy and it stays with them for a very long time,” he said.”

Good grief, I am already tired of the revival of “President Phone and Pen” and Biden isn’t even president.

But here is the heart of the matter: the mechanisms of HOW this happens is not something that can be solved with a flick of a presidential executive order.

He said they are calling on Biden to take executive action to administratively cancel up to $50,000 in student loan debt for federal student loan borrowers with an income below $125,000, and to do so in a way that the borrowers would have no tax liability when they receive the forgiveness.”

The tax liability is the key. The current assumption is that if someone has $50,000 of debt forgiven, the IRS would see that as $50,000 of taxable income. After all, government giveth, and government taketh away.


So, no matter what Chuck Schumer says or believes, no president can just rewrite the tax code via executive order. If a debt forgiveness occurs, and Democrats want it to be tax free, that means…

…drumroll…

… it would take a bill passed by Congress. One that the American public would weigh in on, quite loudly. The idea that people who took out loans would now have a chunk of that paid off with the taxpayer dollars of others – some who never went to college, others who paid off their own loans – would be more than a bitter pill to swallow. It could be a poison pill for Democrats if they have to stand accountable for a vote.

Which is exactly why Schumer is pushing the idea that Biden could simply order this student loan debt forgiveness into existence with a signature. No vote. Puppet president. Pull the strings on the marionette, make him sign the EO, all of Congress avoids the heat for a hugely unpopular idea. And just wait until that tax bill kicks in a year later for all those who thought they got free money! LOL suckers, NOTHING FROM GOVERNMENT EVER COMES FOR FREE.

Santa Schumer doesn’t want you to realize that, though. He’s hoping for Cardi B. levels of stupidity in the younger generation, who can simultaneously wonder “why are my taxes so high” and demand “please give us free college, President Grandpa!

If Schumer does manage to talk Biden into something so monumentally stupid, it will immediately be challenged in court. And while John Roberts once rewrote taxes and fees himself in order to save Obamacare, there is no way the new majority of Thomas, Alito, Gorsuch, Kavanaugh, and ACB let Roberts get away with that again. Still, SCOTUS can’t be our only failsafe against rampantly unconstitutional executive orders.

Put a check on Schumer. Get the vote out for Republicans in Georgia.

Featured image: original Victory Girls art by Darleen Click

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4 Comments
  • Wyldkat says:

    Having ha a debt forgiven, I can attest to the actions of the IRS. Fun part, since I didn’t get the notice until after I had filed my taxes, I had to pay back all of my refund and the part that I now owed.

    But, hey, aren’t these the same people who keep calling for higher taxes so they can have their “free” college? TANSTAAFL. You want the debt forgiven, pay the taxes.

  • Wyldkat says:

    Having had a debt forgiven, I can attest to the actions of the IRS. Fun part, since I didn’t get the notice until after I had filed my taxes, I had to pay back all of my refund and the part that I now owed.

    But, hey, aren’t these the same people who keep calling for higher taxes so they can have their “free” college? TANSTAAFL. You want the debt forgiven, pay the taxes.

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