Posted on 10/30/2019 10:10:54 AM PDT by Kaslin
Senator Elizabeth Warren of Massachusetts sat down with New Hampshire Public Radio on Wednesday for a lengthy discussion of her many different "plans." All her proposed solutions to our nation's problems end in more taxation, bigger government, and less freedom. Radio host Laura Knoy asked Warren what, if any, limits Sen. Warren's proposed plan to eliminate college student debt would have. In short, the Massachusetts Senator told the Granite State that if you're a college graduate earning $250,000 or more, sorry pal, you will not have your debt cancelled. And if you are very rich, you will more or less be punished for being successful by paying off the debt of everybody who earns less than you.
"So my proposal is that student loan debt would be cancelled up to $50,000 per individual. So for a couple, that might be up to $100,000 if that's what they had," Warren explained. "It's limited on income. So if you got more than $250,000 in income, you don't get any cancellation."
"This is for people who have less income than that -- It covers all student loans. So the typically federal insured student loans, the parent plus loans, if you have a private student loan, you're permitted to convert it to a public student loan and then do the student loan forgiveness, so that we get the maximum relief," she added.
When asked, "What incentives do colleges have to reduce cost if everybody's debt is paid off," Warren told the host that this will be managed by the second part of her larger wealth tax.
"A second part on the same two cents, because we're paying for this out of the two cent wealth tax, uh, is to provide tuition free technical school two-year college and four-year college. But there are some strings on this, and that is about colleges keeping costs under control," Warren continued.
"So the federal government picks up the tuition part that goes to the students, but in return the college, or the state has to do, maintenance of effort -- that is putting that same money into UNH and the other state schools, and the college has to keep those costs under control because they cant just ratchet up tuition rates. So in effect, let's think of it this way, let's reverse what you just asked me," she declared. "Think of it as, with those two cents, we're gonna invest in our babies, in our public schools...and we're gonna invest in post high school education. But, we're also going to deal with the hangover debt from student loans for people who have gone to school in the last 10 or some years, or 15 or 20."
Sen. Warren also said her student relief plan would be used to eliminate the racial wealth gap. When asked if she would cut spending, she said yes in areas such as defense, but ultimately her plan is dependent on taxing the uber wealthy. It is unclear what happens after those super wealthy stop earning as much money due to taxation. (Hint: the problem with socialism is eventually you always run out of other people's money)
So, my advice to all those earning $250,000 and still have student loans -- doctors, lawyer, etc,-- and if Sen. Warren becomes president -- ask for your salary to be set at $249,999.99 so that you can have your debt paid off.
The full interview can be seen here:
“Student debt relief”
The Squawskank Redemption?
In other words, those people who made the best use of the loans will be punished for their good stewardship of the public’s money.
If I’m rich, I’m supposed to pay deadbeats’ loans as well as my own. Democrat fairness 101.
No one is responsible for anyone else’s student debt except possibly the students’ families should they choose to take on that burden. I paid for a large portion of my niece’s student debt because it was set up on a balloon payment and would have risen to 19% interest even though she had been making payments since graduation. I sure as hell aren’t responsible for people I don’t know. I like Tucker Carlson’s idea of hitting up the universities’ endowments though as they are the ones who are responsible for their students i.e. customers.
If you’re irresponsible, you get a free ride. Democrats believe certain people shouldn’t have to follow the rules because they can’t afford it.
No one forced them to obtain a student loan.
Its all about bottom feeding for votes.
Ticks be off that I worked so hard to pay off our child’s loan
The two-cents-on-rich-people tax is the camel's nose under the tent.
Warren’s delusional ... Democrats always start out with ‘it won’t hurt the middle class - only going after the rich.’
Then when it’s implemented lo and behold everyone loses except the democrat base.
It’s very simple. It is a zero-sum game with respect to federally insured guaranteed student loans. Either the student borrower repays the loan or the taxpayer does. About 85% of the $1.5 Trillion in outstanding student loans are federally guaranteed. Not all of the loans are in danger of default. Perhaps a third is no risk (envision a Harvard Medical School grad who can afford to repay his or her loans), and another third is low risk. The remaining third is by any reasonable definition - non-performing. Ms. Warren wants to take that $500B and ladle it over the backs of taxpayers - almost all of whom never had any input into the process by which the loans were underwritten, disbursed and spent.
correction needed:
Elizabeth Warren’s Student Debt Relief Plan Would Punish Everyone EXCEPT liberal elites, muslims, mexicans, lgbtrunpi, transvestites, etc etc etc Making $250,000 or More
in other words- it will punish all conservatives making more than $250,000 a year
How is not getting a freebie a punishment?
This argument is stupid.
Deadbeats have us outnumbered. So the math works for them.
A lengthy discussion? There must have been thousands of "So..."
When we started we didn’t have much but a lot of energy and a good plan. We also had good study habits and work ethics.
We had no family money and no wealthy supporting parent.
We went to school and worked hard and paid for our educations as we went.
Now we are over that income level because we went to college and attained our degrees and then went on to good careers do to hard work and a good plan. We have three Masters degrees in this household that are all totally paid for. That is why we are over that income level.
Now this raving bitch wants us to pay for other people’s student loans? Not on her life.
Not going to happen.
In 1968, my university tuition was $800. I thought it was high. I could never go to school now.
I blame the school loan system. The schools keep raising tuition, because they know the students will take out loans to pay it. It’s a vicious cycle.
If you make $250K a year, you can damn well sure pay your debts.
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