Then you'll get tax credits. Credits, like the Childcare Credits and EITC give you extra money beyond what you'd normally get. So if you usually owe taxes the credit would cover all or some of it. If you balance your withholdings right so you don't owe or get back anything substantial you'd get an extra few hundred/thousand come tax time. Same if you do regularly get a significant refund.
It should come from the same tax on the top 5% as the actual cancellation.
Totally on board with what you are saying! Was just playing devil's advocate to elaborate on why some people will feel they are owed something.