This week, Sen. Bernie Sanders upped the ante on free stuff the legion of Democratic presidential candidates are promising voters. In what he called a “revolutionary proposal,” Sanders says that if elected he would forgive “all student debt” — that’s $1.6 trillion worth — and end “the absurdity of sentencing an entire generation to a lifetime of debt for the ‘crime’ of getting a college education.”
It would be hard to devise a plan that would shower more benefits on the wealthy than this one.
Just 12% of college debt is owed by those in the bottom quarter of income earners, according to the Urban Institute. “In other words, education debt is disproportionately concentrated among the well off,” the report notes.
Sanders’ plan would relieve doctors, MBAs, computer scientists of their student debt. These are people who are or soon will be making six-figure salaries. Keep in mind, too, that students who borrow money for college are investing in their own futures, since a college degree is a ticket to higher incomes.
Even the left-leaning Slate.com had to admit that “from a pure fairness perspective, this would be a pretty questionable use of federal tax dollars.”
But the same could be said of the panoply of free stuff today’s Democrats are promising voters — a list that includes free child care, free preschool, free college, free health care, free “universal basic income.”
The price tag of any one of these proposals is gargantuan. Sen. Elizabeth Warren’s own debt-forgiveness-free-college plan would run $1.25 trillion over a decade. Her free child care plan another $70 billion a year. Sen. Kamala Harris is pushing a housing tax credit for families making up to $125,000 that will cost $760 billion over a decade. Medicare for all would run more than $32 trillion.
(Excerpt) Read more at issuesinsights.com ...
What I can't fathom is that Sanders wants to reduce medicare and social security in favor of student loan forgiveness and free medical for the INVADERS!
How on earth can old demonRATs not rebel at this? Are they self destructive? Addicts? Lushes? Mentally unstable?
It would be hard to devise a plan that would shower more benefits on the wealthy than this one.
Just 12% of college debt is owed by those in the bottom quarter of income earners, according to the Urban Institute. “In other words, education debt is disproportionately concentrated among the well off,” the report notes.
Sanders’ plan would relieve doctors, MBAs, computer scientists of their student debt. These are people who are or soon will be making six-figure salaries. Keep in mind, too, that students who borrow money for college are investing in their own futures, since a college degree is a ticket to higher incomes.
Even the left-leaning Slate.com had to admit that “from a pure fairness perspective, this would be a pretty questionable use of federal tax dollars.”
But the same could be said of the panoply of free stuff today’s Democrats are promising voters — a list that includes free child care, free preschool, free college, free health care, free “universal basic income.”
The price tag of any one of these proposals is gargantuan. Sen. Elizabeth Warren’s own debt-forgiveness-free-college plan would run $1.25 trillion over a decade. Her free child care plan another $70 billion a year. Sen. Kamala Harris is pushing a housing tax credit for families making up to $125,000 that will cost $760 billion over a decade. Medicare for all would run more than $32 trillion.
(Excerpt) Read more at issuesinsights.com ...
What I can't fathom is that Sanders wants to reduce medicare and social security in favor of student loan forgiveness and free medical for the INVADERS!
How on earth can old demonRATs not rebel at this? Are they self destructive? Addicts? Lushes? Mentally unstable?
