It’s worth noting that the terms are (intentionally?) designed to be generous and a pay over market-rate, and this would be harder to do if there were a $10mln/person/year cap and most of the benefit would flow to wealthy Americans who can finance their debt investments with secured borrowing at scale.
If I had to guess, I’d note that this is pretty similar to contribution/person/yr caps on other savings methods the government subsidizes, eg, with tax advantages -- 401(k) accounts and IRA accounts. Insofar as it’s primarily a social scheme to incentivize inflation-protected saving (and probably should not be a primary investment for most people in most conditions), it seems plausible that the cap is intended to target the benefit-per-unit-cost of the program to a wider set of people.
What’s with the $10k/year limit? It’s almost as if they want to discriminate against rich people.
I don’t know.
It’s worth noting that the terms are (intentionally?) designed to be generous and a pay over market-rate, and this would be harder to do if there were a $10mln/person/year cap and most of the benefit would flow to wealthy Americans who can finance their debt investments with secured borrowing at scale.
If I had to guess, I’d note that this is pretty similar to contribution/person/yr caps on other savings methods the government subsidizes, eg, with tax advantages -- 401(k) accounts and IRA accounts. Insofar as it’s primarily a social scheme to incentivize inflation-protected saving (and probably should not be a primary investment for most people in most conditions), it seems plausible that the cap is intended to target the benefit-per-unit-cost of the program to a wider set of people.