Skip to comments.Bernie Sanders proposes forgiving the student debt of 45 million Americans [$1.6 trillion]
Posted on 06/24/2019 11:38:59 AM PDT by BenLurkin
The proposal goes further than fellow Democratic candidate Elizabeth Warrens plan, which caps student debt forgiveness at $50,000 and offers no relief to borrowers who earn more than $250,000.
Outstanding education debt in the U.S. has eclipsed credit card and auto debt. Today the average college graduate leaves school $30,000 in the red, up from $10,000 in the 1990s, and 28% of student loan borrowers are in delinquency or default.
Sanders plan would make two- and four-year public colleges and universities tuition- and debt-free. Trade schools and apprenticeship programs would be tuition-free, as well.
Sanders is introducing the legislation with Rep. Ilhan Omar, D-Minn., and Rep. Pramila Jayapal, D-Wash., the co-chairwomen of the Congressional Progressive Caucus.
The $2.2 trillion plan would be paid for by a new tax on financial transactions, including a 0.5 percent tax on stock transactions and a 0.1 percent tax on bonds. That levy would raise up to $2.4 trillion over the next decade, according to the senators office.
(Excerpt) Read more at cnbc.com ...
Pretty much a slap at everyone who did what the terms of the loan said. Pay it back.
Bernie basically said Its absurd that people go to college, then have to pay for it (Because in his mind, its expensive, and apparently, according to Bernie, people shouldnt have to pay for expensive things)essentially was what his message was
That is akin to me saying Its absurd that i place a whole bunch of really expensive food on the counter at the cashier, and they expect me to pay for it- Absurd I tell you! I mean come on! I can see if you place inexpensive food there that youd have to pay- but my goodness- when i place really expensive food there, I shouldnt be required to pay for it!
That, in a nutshell, is how these socialists think-
Rather than paying the debt, why not just force the colleges to give out the education? Isn’t that the plan for doctors and nurses with socialized medicine? It may not be advertised that way but that is how it ends up.
Not fair and creates another class.
Let’s just assume this happens and becomes law.
What happens to kids currently enrolling in College? They get free tuition? Will the government get out of the loan business forcing schools to lower tuition?
This is just a patch without a long term plan for sustainability. It’s pie in the sky thinking.
Why not force everyone to give out everything for free?
What a slap in the face that would be to those that paid it off themself, often via terrible sacrifice.
A billion here, a billion there, and next thing you know we’re talking REAL money.
Does this mean I am going to get reimbursed for paying 100 grand for my sons college?
There’s no thinking involved, it’s pandering
I don’t have any student debt but do want a pony. Will that be OK?
This is GOOD.. Absolutely astonishing, but I would go one step farther and ask him to consider all credit card debt erased, and take the home mortage loans and add them to the list. Any IOU for whatever reason, let everyone be FREE of all the pledges and promises to pay. WHY WOULDNT I VOTE FOR BERNIE
It’s kinda like what would happen if we decided to pay reparations: “Government worker full employment opportunity act” is what it could be called. Or the “government make-work act.”
Both are stupid propositions on the face of it. It’s why only the democrat party so much as feigns taking it seriously. And for all I know, some of them may be honestly stupid enough (or think their constituency is stupid enough) to actually believe it.
Or, how about seizing Harvard Woke Seminary’s $39 billion endowment?
I get to pay for their degree in “Women’s studies”?
Let’s just get rid of money
And the market system
Let’s just go full Communist so everyone just gets all the stuff they want and no one has to work for anything.
It will be awesome!!!!
And the people who paid off their debt should get it back, right Bernie? I mean, why stop at what is currently outstanding? And what about all those who worked or just were fortunate enough to not need to borrow? We should reimburse them as well, right Bernie? And all those scholarships giver out. Lets reimburse the schools. If we are going to do this, lets do it right.</sarc>
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