https://www.foxnews.com/politics/be...g-all-1-6-trillion-of-student-debt-in-america Bernie Sanders, the 2020 hopeful, is set to announce on Monday a policy proposal that would eliminate all $1.6 trillion of American student debt, according to a report. The Democratic presidential candidate’s new proposal calls for the federal government to wipe clean the student debt held by 45 million Americans, including all private and graduate school debt, The Washington Post reported. The proposal package also includes making public universities, community colleges and trade schools tuition-free. Wow, what a stimulus for the economy !
Where is the money for this coming from? How does he plan to pay for free medical care for all Americans, amnesty to all illegal aliens in the USA and also forgiveness for all past student loans and free college in the future?
We made 4 trillion bucks appear out of nowhere for Wall Street, and that was a hostage negotiation that didn't do a damned thing for the mainstreet economy. I'd happily sign on to this with a "figure out the financials later" mentality, because the student loan crisis is absolutely suffocating the bottom 80% of our pyramid. The breaking point is coming where a VAT and drastically reduced military spending are going to be necessary if we want anything to change in this country.
I guess it is a lol when daddy paid it all. Some tweets re the issue. Student debt can deter you from moving, marriage, children, buying a home, choosing a particular career, leaving an unhappy, unhealthy or dangerous situation and overall limits whatever you desire to do for a decade or so. Want an economic reboot? If we had cancelled all student debt in 2016, we would have shrunk the racial wealth gap between young white and black households (ages 25 to 40) from 12:1 to 5:1. “Young physicians are avoiding careers in lower-paying specialties, from pediatrics to psychiatry, even though our country needs more of them
We can only pull a rabbit out of the hat so many times. I am not okay with a "figure out the financials later" mentality. It is the same mentality that Reagan and Bush Jr. and Trump had. It is a really bad policy decision. Now, I will not argue with you that it is for a better cause. It is a serious problem, and the Republicans as far as I can tell don't even discuss it. However, there are other options than complete forgiveness, such as suspending or eliminating interest on the loans. Cutting the loans based on income (even further). Politically I think this is going to hurt him, but I respect that he stands by his principles and at a minimum admits there is a problem.
The accompanying proposal to pay for it. Student Loan Debt Forgiveness: Who Pays Sanders will fund his student loan forgiveness plan through a new tax on financial transactions, which he expects could raise more than $2 trillion over the next 10 years. The tax plan will include a 0.5% fee on all stock trades, a 0.1% fee on all bond trades and a 0.005% fee on all derivatives trades. https://www.forbes.com/sites/zackfriedman/2019/06/24/student-loans-bernie-sanders/#1b92ce9a3fc2
My loans have been paid off. I would assume this will come to fruition right after we pay my wife's loan off.
Daddy didn't pay for my college..... or graduate school or law school. Daddy has a high school education and never paid a penny of my tuition. I paid for all of my education through multiple jobs in college and after college and scholarships. There should be some sacrifice associated with going to college. Should it burden students for the rest of their lives? No, but they should have to pay for at least some of it. You say "student debt", but really is it is any type of debt. Should those that did not go to college because of the cost be punished? There is a possible middle ground.
Like I said, hostage situation. And we just made 4 trillion appear out of nowhere for that. With almost no effect on inflation. All that being said, this cannot be a stand alone plan, because our secondary education system needs a programmatic overhaul. College ain't for everyone. Time to invest in trades.
Yeah..... that will do wonders for the economy..... there will be no consequences to that at all. It won't discourage investment or trade at all.
Figuring out the financials is not later, but it is interesting that " figuring out the financials" is never done for elective wars, tax cuts for the wealthy etc.. I think that this help Sanders politically as we start with the 45 million whose loans will be forgiven and then you include family members who are affected and you have a lot of folks. Obviously the rich, conservatives and contented moderates will not be voting for Sanders in the primary. Polls show Sanders beating Trump in a primary and this appeals to even Trump supporters with student loans.
I just paid off my wife's students loans. I'm still down for this, because I know that supercharging the buying power of 7 million young to middle aged Americans will send our economy to the moon.
I like it! So not only do I not benefit from the student loan payoff program I actually get to pay for other people to benefit through my investments. Wonderful!
healthcare is more critical. i am in favor of Bernie's MediCare for all proposal. but not this student loan foregiveness. it is just too expensive
I am never okay with "figuring out the financials later" and it is why I did not vote for Bush Jr or Donald Trump. There is no question that a lot of people will have skin in the game to vote for Bernie Sanders. There are a lot of people in their 20's and 30's that have a huge reason financially to vote for Sanders. However, this also really alienates a lot of blue collar voters that did not go to college, it alienates older voters that paid off their loans, it alienates younger voters that have paid off their loans. From a Electoral College stand point, how is it going to play in states like Pennsylvania, Florida, Wisconsin, Arizona, Colorado.
Hey, you are doing okay..... better than most people. Look at this point, we just want you to give a little more. Maybe a slightly higher tax bracket. You make over $50,000 a year. A lot of people don't, so we will just take like 5% of that and give to others. Also, your car.... not sure it is going to meet the new environmental requirements, so you need to pay a tax on that, and also we may be increasing the tax on investments, but we will let you know. We built a beautiful new high school on the East Side of Houston though, we are encouraged. We figure we can drop the standards to get into college some too.... maybe for trade schools and also we are going to let more people out of prison. You will see, it will work.
