Labor
have committed to cancelling 20% of student debt. That's a very good
policy. Any debt forgiveness is good.
“The
Albanese Labor Government will cut a further 20 per cent off all student loan
debts, wiping around $16 billion in student debt for around three million
Australians.
By
1 June next year, the Government will cut 20 per cent off all student loans to
reduce the debt burden for Australians with a student loan.
This
will cut around $16 billion in debt, including all HELP, VET Student Loan,
Australian Apprenticeship Support Loan and other income-contingent student
support loan accounts that exist on 1 June next year.
For
someone with the average HELP debt of $27,600 they will see around $5,520 wiped
from their outstanding HELP loans next year.
This
will provide significant relief to Australian students and workers with a
student loan debt and builds on our reforms to fix the indexation formula,
which is cutting around $3 billion in student debt.
This
means, all up, the Albanese Labor Government will cut close to $20 billion in
student loan debt for more than three million Australians.
This
builds on the Government’s announcement that from 1 July next year it will
reduce the amount Australians with a student debt have to repay per year and
raise the threshold when people need to start repaying.”[1]
The problem
is Labor are committed to high immigration. High socialist subsidies. High
energy costs through renewable ideology. High welfare. High NDIS and more. All
of these policies increase the cost of living and make our money less valuable.
So, the amount of money they are freeing young Australians on will be
completely gobbled up by their other policies.
However, this
shows that debt forgiveness is becoming a mainstream issue. How can it not be?
Debt is a mainstream issue. Drowning in debt is a mainstream issue. People are
working out that one of the infallible laws of nature and economics is that a
system that allows borrowing will always collapse under the weight of that
debt, because it is not able to pay its debts collectively. The only way to
avoid that collapse is debt forgiveness (this was proven several thousand years
ago, before the Bible was even written, and has never been disproven).
Technically,
Australia's economy collapsed just before Howard left office, or just after. On
a per capita basis Australians have only gotten poorer since then, maybe even
since a little earlier. But they have managed to "grow" the economy
by cheating, they simply bring in lots of people, in increasing numbers, and
then tax those people. Those immigrants eventually fall behind, on average like
most Australians, and so they need to bring in more.
So, our
economy is already broken. What do you do when a complex system is broken? As
Moss would say, "Have you tried turning it off and then on again?"
That's what a Jubilee is.
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