How will Corbyn's Labour government be able to afford to get rid of student debt?

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Rabbit2
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#21
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#21
(Original post by Guy of Gisbourne)
I think that taxes for everyone will rise under a Labour government in order to pay for their huge spending plans including on eliminating student debt.
And the taxes will not be raised nearly enough to pay off the debt, so his 'government' will resort to the standard approach of all western governments in debasing the currency, thereby passing the tax on to future generations. Within your children's lifetimes, lunch at a 'transport caffe' will probably cost them between 200 and 300 quid due to this!! Cheers.
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Quady
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#22
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#22
(Original post by Rabbit2)
And the taxes will not be raised nearly enough to pay off the debt, so his 'government' will resort to the standard approach of all western governments in debasing the currency, thereby passing the tax on to future generations. Within your children's lifetimes, lunch at a 'transport caffe' will probably cost them between 200 and 300 quid due to this!! Cheers.
You realise in the last three years:
- Corbyn las left;
- We found the money forrest.

Within our children's lifetimes the minimum wage will be 150,000 quid a month so who cares if lunch is 300.
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Rabbit2
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#23
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(Original post by Quady)
You realise in the last three years:
- Corbyn las left;
- We found the money forrest.

Within our children's lifetimes the minimum wage will be 150,000 quid a month so who cares if lunch is 300.
The reality is.. you are always worse off after the inflation, so if the minimum wage is 150kquid, lunch will be 30,000 quid.
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Rabbit2
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#24
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#24
(Original post by Rabbit2)
The reality is.. you are always worse off after the inflation, so if the minimum wage is 150kquid, lunch will be 30,000 quid.
As an example: When i came to D.C. in 1969, with my freshly printed bachelor's degree in engineering, petrol was $0.20/US gallon, and i was being paid $37,800/pa. Last time i was working full time, i was paid about $97,000 pa, and petrol is about $2.40/US gallon. That is a change of 12:1 in petrol price. A 12:1 change in my salary, would have me making $453,600USD, rather than $97,000. That is how the politicians work it - it 'beggars' the working class, and allows them to feather their own nests. Ask your own (or someone else's 'rents) about this. You will probably get the same answer (more or less) to what i just gave you. Cheers.
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Quady
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#25
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#25
(Original post by Rabbit2)
As an example: When i came to D.C. in 1969, with my freshly printed bachelor's degree in engineering, petrol was $0.20/US gallon, and i was being paid $37,800/pa. Last time i was working full time, i was paid about $97,000 pa, and petrol is about $2.40/US gallon. That is a change of 12:1 in petrol price. A 12:1 change in my salary, would have me making $453,600USD, rather than $97,000. That is how the politicians work it - it 'beggars' the working class, and allows them to feather their own nests. Ask your own (or someone else's 'rents) about this. You will probably get the same answer (more or less) to what i just gave you. Cheers.
The wage stagnation phenomena in the US over that period has been extensively studied hasn't it? Mostly as the US has been an outlier over that time.

Given the median full time earnings of a man in '69 was a smidge under $8,500 you were doing pretty good. More than 10x the wage of someone on minimum wage ($1.20/hr) doing close to a 60hr week.

To give you another example, when I moved to Warrington in 2008, with my freshly printed master's degree in chemistry, petrol was £1.03/l, and i was being paid £27,970/pa. Now I earn about £73,000 and petrol is £1.20. That is a 15% rise in the petrol price. A 15% change in my salary would have been £32,165 rather than £73,000.
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Ambitious1999
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#26
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#26
Moderator: This thread is 3 years old and Mr Corbyn is no longer labour leader so this thread is irrelevant and should be closed.
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