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@CharlesFLehman DOE claim that carefully massages the cutoff to ignore how little is going to people below $50,000. https://t.co/GJLeSd26Mf — PolitiTweet.org

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@MaxNordau But they’re not getting loan relief. — PolitiTweet.org

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Thread. — PolitiTweet.org

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Corporate welfare is usually bad rent-seeking, and I criticize it. 🤷‍♂️ Some of the Trump tax bill was bad rent-seeking, some was good policy. But there’s a huge difference between reducing a tax on productive activity going forward, and encouraging moral hazard. https://t.co/I97PWBrdEo — PolitiTweet.org

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RT @EverydayWarren: https://t.co/u9hc6U0CNY — PolitiTweet.org

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RT @walterolson: Prison for price increases? Say no to people's-republic politics. — PolitiTweet.org

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@brian_wolfman @chriswithans @Fred_Marwan @fedjudges As always, Justice Thomas is right. — PolitiTweet.org

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RT @vjeannek: @tedfrank @RonColeman Blue line is paying for red line https://t.co/T2ECBPDGfP — PolitiTweet.org

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RT @jtlevy: 6-figure law school/ med school debt is not like 6-figure terminal non-professional MA debt is not like scam for-profit univers… — PolitiTweet.org

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@brian_wolfman @Fred_Marwan @chriswithans @fedjudges Standing is just injury in fact and redressability. So the fact that an absurd claim has standing doesn’t slippery-slope a particular standing argument. All sorts of absurd claims have standing. — PolitiTweet.org

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@chriswithans @brian_wolfman @Fred_Marwan @fedjudges Right, we agree on that. Brian was asking whether it applies to other scenarios, and I was distinguishing the issue of standing (yes, there’s standing for the ridiculous claim) versus the merits. — PolitiTweet.org

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Related thread on which states will currently tax debt forgiveness, though a single-digit percentage tax may not qualify as injury. The figure may need to be 80% or 90% rather than 30%. — PolitiTweet.org

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@brian_wolfman @Fred_Marwan @chriswithans @fedjudges It’s redressable injury in fact, so there’s standing, just as I have standing to sue you for the effects of your brain waves on my physical state. But standing isn’t the merits. Most prepayments aren’t barred by law. — PolitiTweet.org

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@BryanGivi @RosenzweigP @jadler1969 What’s the basis for a challenge to state tax law? Debt cancelation has long been considered taxable income. ARPA had to specifically carve it out to avoid that problem (and the provision sunsets in 2025). — PolitiTweet.org

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@brian_wolfman ARPA exempts debt cancellation from federal taxable income through 2025. States that piggyback off of federal determination by default will also treat it as non-taxable. Don’t know if any states require bespoke income tax forms rather than accepting the 1040 with modifications. — PolitiTweet.org

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@LeonHWolf <drake pointing meme with “Control-W” and “Control-T”> — PolitiTweet.org

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The photo is barely more risqué than an Obama family Hawaii beach visit (which, to be clear, I don’t begrudge them). Just an odd world news story orders of magnitude less important than the global Finnish news event of the year that’s hardly been covered. — PolitiTweet.org

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@BryanGivi @FrankBednarz @fedjudges Yeah, bring back taxpayer standing in general I think, but the Court disagrees with me. — PolitiTweet.org

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Mfg. standing: 1. Utah passes 30% income tax on student debt forgiveness. 2. Brave Utah conservative student getting forgiveness now has standing because of $3k tax event. Doesn’t have to be Utah. Any red state with an income tax can do this for the good of nation. — PolitiTweet.org

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@Fred_Marwan @chriswithans @fedjudges No, the loan servicers will have financial injury to the extent they collect fees from people with debts under $10,000. But they’ll be politically too scared to risk regulatory retaliation. — PolitiTweet.org

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Why not “people making less than $60k with loans to buy new cars made in America?” Even if it has to be student debt, better ways. Income test harder (really? $125k?), condition the payment on a particular socially productive behavior going forward. Don’t just drop the money./3 — PolitiTweet.org

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Why “people with student debt”? Why not “All two-parent families with at least two kids and no criminal record in the household making less than $70,000”? Why not “all veterans with honorable discharges and Gold Star widows and mothers”? /2 — PolitiTweet.org

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If you MUST give away $250-300 billion (and there’s no reason to think we do in 2022), there are so so many more equitable ways to do it than loan forgiveness, especially when nothing is being done to stop the causes of school debt in the first place. /1 — PolitiTweet.org

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Policies like capital gains tax cut may or may not be wise, but at least they grow the pie. PPP loans were designed to encourage good behavior that would prevent econ disaster. Helicopter drops of $250B are pure wealth transfers with deadweight loss. — PolitiTweet.org

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Manchin got suckered. — PolitiTweet.org

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@lieber2k @StevenJDuffield Maybe 90% of those humanities degrees aren’t learning humanities any more. — PolitiTweet.org

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https://t.co/u91shgdsIF — PolitiTweet.org

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Note that a government policy of spending so much to create an inflation rate of 8% is the same thing as announcing a $1.20/hour annual cut in a $15/hour minimum wage, if you care about that sort of thing. — PolitiTweet.org

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We shouldn’t cut capital gains taxes without cutting spending when the inflation rate is 8%, but at least cutting capital gains taxes encourages investment and productivity and improves the economy. Arbitrarily forgiving debt retroactively just encourages moral hazard. — PolitiTweet.org

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Add 0.5% to inflation, or $350 in extra cost for the average household in America, and $2000/year to a new $400,000 mortgage. I know no one cares about the national debt any more, but one day we’re going to have a real emergency and won’t be able to afford it. — PolitiTweet.org