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Rasmussen Poll: Huge majority of Americans think capitalism is better than socialism

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In a recent poll, Rasmussen found that 65% of American voters prefer capitalism to socialism, saying it’s a “better system.”

However, those in the minority tended to be in the 18-39 age range. 31% of those under 40 prefer socialism to capitalism, according to the poll. Meanwhile, 21% of respondents could not decide which of the two is better.

Democrats were split almost down the middle on the question. According to the poll, 46% prefer capitalism, while 31% prefer socialism and 21% are undecided. Even those who self-identified as liberal split 39% for capitalism, 37% for socialism, with an undecided 25%.

When it came to understanding America’s current economic system, voters were split. 28% of people thought America had a generally free market economy, 33% thought it was a partially free market economy, 23% thought it was a partially socialist economy, 7% thought it was a generally socialist economy, leaving 9% unsure.

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White House announced $6 billion student loan forgiveness for 78,000 public service workers

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The White House recently announced a $6 billion loan forgiveness program. Nurses, teachers and firefighters are among the 78,000 public service workers who will qualify. Fox Business reports:

Due to fixes to the Public Service Loan Forgiveness (PSLF) program, workers that never received forgiveness are now having their debts partially forgiven or canceled. Only about 7,000 public service borrowers received forgiveness prior to the Biden Administration, now that total hovers closer to 870,000, the announcement said.

“Today’s announcement comes on top of the significant progress we’ve achieved for students and student loan borrowers in the past few years,” the announcement stated. “This includes: providing the largest increases in Pell Grants in over a decade to help families who earn less than roughly $60,000 a year; fixing Income-Driven Repayment plans so borrowers in repayment for years get the relief they earned; and creating the most generous Income-Driven Repayment plan in history – the SAVE plan.”

However, there is concern over fairness that older generations are still paying off student loans and could risk losing Social Security. A group of representatives wrote a letter to Congress, hoping to address the issue of seniors still paying down student loans. Currently, under the Treasury Offset Program (TOP), the government can collect funds, such as tax refunds and Social Security, to pay outstanding student loan balances, reports Fox Business.

“Under the TOP, the federal government can withhold up to 15 percent of monthly Social Security or disability benefits for defaulted student loans,” the lawmakers explained in their letter.

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