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 ...
When the Gimmees outnumber the Workedforits we’re doomed.
Congress is using repayment of student debt to finance the gold plated federal retirement system. They can’t forgive student debt without cancelling the retirement system or raising taxes. They didn’t raise taxes to fund government retirement because few taxpayers have a fixed benefit retirement. Incidentally, this is why judges are forbidden to forgive student debt in bankruptcy. Government is a parasite sucking the life from students.
Congress is using repayment of student debt to finance the gold plated federal retirement system. They can’t forgive student debt without cancelling the retirement system or raising taxes. They didn’t raise taxes to fund government retirement because few taxpayers have a fixed benefit retirement. Incidentally, this is why judges are forbidden to forgive student debt in bankruptcy. Government is a parasite sucking the life from students.
And they want to increase taxes to pay for it.
“expensive car”
Once the Democrats gain absolute power, the supply of vote-buying goodies will shrink.
Democrats getting free stuff need to split their votes and keep at least one-third of the federal government Republican controlled.
Pure insanity and pandering. Socialists are sick.
hey Bernie, all the rest of us paid back our student loans, which we were grateful to receive
you wanna refund our money too?
Why doesbn’t HE start with HIS own money?
Lead by example, buddy.
What a Crock-O-Shiite!!! If you incur debt, you pay the debt.
No. Plus this new tax will cut into your 401(k) or other investments.
Pretty much a slap at everyone who did what the terms of the loan said. Pay it back.
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As I heard on one of the radio talk shows, if the Democrats get their way with forgiving student loans and free tuition for everyone, those who paid their loans and those who paid for their sons and daughters college should ask for reparations. Lets see what the Democrats have to say about that! Fair is fair, right???
And pay off any debt Americans have on American cars bought within the last 5 years.
And charge it all to George Soros....
AND I'd like to give $10,000 each to people living in flyover... since they've been ignored for so long...
WE CAN BUY VOTES TOO!
They'll have to, don't expect the media to ask any sensible follow-ups to lunatic policies.
This isn’t fair to all those students who paid for their college tuition.
And Sanders think the USA can have free college for everyone. How would that be possible? You have Asians who post high scores on their SATS who can’t get in.
I propose Bernie reimburses me for all the tuition I paid for myself and our kids.
Academia on welfare no thanks
What a poker. I want him to cancel my mortgage, pay off my credit cards and buy me a new car.
I think the government only got INTO the loan business, as a scheme by 0bama, to lead us to this “free college” theme, down the road. Now we are seeing it.
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