Critics are slamming President Joe Biden over his student loan forgiveness efforts after a new poll has emerged showing that those applying for the program will likely spend the extra money on non-essential goods like vacations.
In other words, hard working Americans who didn’t go to college will pay more in taxes to help bail out students who chose to attend a four-year university in pursuit of something valueless like a gender study degree.
And that bail out is likely going towards frivolous items like alcohol, drugs, and vacations according to this latest poll.
From The Post Millennial:
A poll done by the website Intelligent.com has found that 73 percent of those applying for President Biden’s student debt relief plan, which will cancel up to $20,000 for borrowers and will cost taxpayers nearly 1 trillion dollars, will spend their extra money on non-essential goods and activities like buying new smartphones, getting drunk, and going on vacation…
A more specific breakdown showed that 52 percent said shopping for clothes was their priority, while 46 percent said going out to a restaurant or going on vacation. 44 percent would buy a new smartphone, 36 percent would buy a new video game system, 28 percent would spend their extra cash on drugs and alcohol and 27 percent would go gambling with the money.
77 percent of those polled did say that they could likely use their money more wisely, if the program isn’t halted altogether.
Critics are claiming that these poll results were predictable.
As the people benefiting the most from this Biden student loan forgiveness are likely well off individuals who lean towards voting Democrat.
More from The Post Millennial:
Biden’s student loan forgiveness translates to roughly $2000 per taxpayer using the lower end estimates from the Penn Wharton Budget Model. Nearly 45 percent of people who took out federal student loans would have the entirety of their federal student loans canceled under this action and 95 percent of borrowers benefit from the move.
Biden’s plan also extends the payment pause on federal loans until the end of the year and ensures colleges do not face direct financial consequences.
Shoutout to the respondents of the poll who said they would spend their recouped money on investments, gifts, and wedding expenses.
To the others, I guess we appalled you for your honesty.
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