On the surface, it looks like vote buying. But young people don't make an effort to vote . The caveat is; let's say they are making 40k a year. they will have to pay taxes on the 10k as it is income. so lets say their tax rate is 16% on the 40k, their taxes will be $6400, now with the 10 k and their 40k, their income jumps to 50k with a tax burden of $8000 . they haven't been paying their loan and are broke, so how they going to manage to part with another $1400? Dems think they are going to get votes when they are going to get more pissed off young voters. theoretically, the government can't just give tax breaks to a class of people unless it goes through congress. It's going to get interesting. The whole pandemic and inflation thing has been about creating debt. lots of financial institutions are going bankrupt.
On the surface, it looks like vote buying. But young people don't make an effort to vote . The caveat is; let's say they are making 40k a year. they will have to pay taxes on the 10k as it is income. so lets say their tax rate is 16% on the 40k, their taxes will be $6400, now with the 10 k and their 40k, their income jumps to 50k with a tax burden of $8000 . they haven't been paying their loan and are broke, so how they going to manage to part with another $1400? Dems think they are going to get votes when they are going to get more pissed off young voters. theoretically, the government can't just give tax breaks to a class of people unless it goes through congress. It's going to get interesting. The whole pandemic and inflation thing has been about creating debt. lots of financial institutions are going bankrupt.
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