Posted on 07/23/2019 8:48:46 AM PDT by Steely Tom
Senator Elizabeth Warren (D-MA) is tripling down on student debt.
In an announcement today along with House Majority Whip James E. Clyburn (D-SC), the presidential candidate announced the “Student Loan Debt Relief Act of 2019.”
Warren first pitched a student debt plan as a presidential candidate in April, and then again as a senator in June.
Taken together, Warren’s plans attack student debt in three ways: Cancelling debt, reforming the predatory — or “lousy” — student loan system that’s in place, and making college free for all.
The duo hopes that this would “end the student debt crisis,” on top of helping “millions of struggling families obtain financial stability” and closing the “racial wealth gap.” The move comes a day after Warren published a dire warning that the economy was in danger of collapsing.
(Excerpt) Read more at finance.yahoo.com ...
That’s a winner right there. Warren/Clyburn 2020. You all’s Drivin’ Mizz Daisey ticket. Hey now.
Yes, not only a refund, but a refund with compound interest for the years you could have invested that money, instead of using it to repay your student loans.
So there you have it folks. Confiscate the largest endowments of US universities and you have 2.5 Trillion dollars to play with.
Confiscate we must ! Workers of the World Unite !!
1) Probably too white to count
2) I expect Warren (and others who have embraced this theme of cancel student loans and free college) would say that your kids should feel lucky that they are educated and have no remaining debt, and they should be happy to help others who are not so fortunate. Because “fairness” or something.
So the lenders take it on the chin, or do they get paid in full from taxpayer’s pockets? Liberals are idiots. People who vote for free stuff from others are thieves. Evil, rotten thieves, no better.
The lenders who **SELL** these exorbitant loans to students, are WORKING ON COMMISSION.
The more debt they sell, the higher their earnings.
Consequently, they’ll tell the naive young student, Oh, yeah, great major! You’ll be earning $100k right out of college! No problem! You’ll pay this loan back in no time!!
Parents (like myself) often have a hard time convincing an 18 year old who is anxious to prove his “maturity” and independence— that he’s making an awful mistake.
We need legislation requiring:
1. Students under age 25 will need a cosigner, with established good credit & collateral, such as family home.
If parents are required to cosign, that would out a stop to most of this crap. Most college kids dont have established credit & should not be allowed to take on these unsecured loans, then expect a taxpayer bailout.
2. Borrowers must be INFORMED when loan officers are earning commissions.
3. Borrowers must be INFORMED of alternative options to high-dollar private colleges, such as community colleges and state universities, where the same course credits can be earned at much lower cost *per unit* or *per semester.*
If borrowers are informed, and they still choose poorly, no excuses, no bailout. Refer to #1, cosigner.
Warren is desperate. She is pandering to that small percent of college students who have a student loan debt.
Meanwhile, the overwhelming percent of college students who paid for their education or their parents who paid the bill will be annoyed that some students got a ‘free ride’.
My kids paid for their college out of their own money, will the government pay them back?
So, some guy/girl just made the last payment on his/her student loan after 7 long years.
Along comes some schmoe that gets it free.
Does guy #1 get a refund?
Does #2 get it free even if he/she goofs off, never finishes?
And schools jack up the costs since the gov. is paying.
Good luck with this idea.
If Pocahontas is serious about this, she’ll run for Governor of Massachusetts the next time the governorship is open.
The Democratic majority in Massachusetts is liberal enough that cancelling student debt in that state, or even offering free college tuition for all, could realistically pass.
But does anyone think Pocahontas will do such a thing? Very, very unlikely.
This is a really stupid proposed bill just to get votes. It is going to backfire on her.
"‘Enough is enough’: Warren officially introduces bill to cancel student debt"
FR: Never Accept the Premise of Your Opponent’s Argument
Post-17th Amendment ratification Sen. Warren is arguably trying to exploit low-information voters, academic communities in this case, voters who have probably never been taught that the states have never expressly constitutional given the feds the specific power to regulate, tax and spend in the name of INTRAstate schooling.
More specifically, Warren wrongly trying to win their votes with a constitutionally indefensible campaign promise to resolve what is arguably another Democratic / RINO-manufactured crisis, an education-related crisis in this example.
In fact, military training aside, President Thomas Jefferson had officially indicated in a State of the Union address that the states would first need to appropriately amended the Constitution to give the feds the specific power to stick their big noses (my wording) into intrastate schooling before they could do so.
“Congress is not empowered to tax for those purposes which are within the exclusive province of the States.” Justice John Marshall, Gibbons v. Ogden, 1824.
”From the accepted doctrine that the United States is a government of delegated powers, it follows that those not expressly granted, or reasonably to be implied from such as are conferred, are reserved to the states, or to the people. To forestall any suggestion to the contrary, the Tenth Amendment was adopted. The same proposition, otherwise stated, is that powers not granted are prohibited [emphasis added].” —United States v. Butler, 1936.
Justice Joseph Story had later reflected on Jefferson's words by also indicating that intrastate schooling was hands-off to Congress.
"The power to regulate manufactures, not having been confided to congress, they have no more right to act upon it, than they have to interfere with the systems of education, the poor laws, or the road laws, of the states [emphases added]. Congress is empowered to lay taxes for revenue, it is true; but there is no power to encourage, protect, or meddle with manufactures." —Joseph Story, Article 1, Section 8, Clause 1, Commentaries on the Constitution 2
The remedy for unconstitutionally big federal government and unconstitutional federal spending, spending base on taxes that career lawmakers cannot justify under Congress's constitutional Article I, Section 8-limited powers…
The states need to eliminate the unconstitutional middleman, the corrupt feds, from "helping" to "manage" state revenues, including revenues used for tuition and other schooling purposes, by putting a stop to unconstitutional federal taxes indicated by the Gibbons v. Ogden excerpt.
“Congress is not empowered to tax for those purposes which are within the exclusive province of the States.” Justice John Marshall, Gibbons v. Ogden, 1824.
Patriots need to do this by first electing a new patriot Congress in the 2020 elections that will not only promise to support PDJT's vision for MAGA, but will also promise to surrender state powers that the feds have been stealing from the states back to the states.
And to make such changes permanent, patriots also need to support Trump in leading the states to repeal the 16th and ill-conceived 17th Amendments.
Remember in November 2020!
MAGA! Now KAG! (Keep America Great!)
"The “Holy Grail” of organized crime is to control government power to tax." —me
"The constitutionally undefined political parties are basically rival, corrupt voter unions, “union dues” paid by means of unconstitutional federal taxes.” —me
"The smart crooks long ago figured out that getting themselves elected to federal office to make unconstitutional tax laws to fill their pockets is a much easier way to make a living than robbing banks." —me
"Federal career lawmakers probably laugh all the way to the bank to deposit bribes for putting loopholes for the rich and corporations in tax appropriations laws, Congress actually not having the express constitutional authority to make most appropriations laws where domestic policy is concerned. Such laws are based on stolen state powers and uniquely associated stolen state revenues." —me
I dutifully paid off my student loan debt over 25 years ago.
I want a full refund plus statutory interest of 7% per year since I began paying it off.
Pay up you stupid taxpayers. Gimme Dat.
Vote-buying and pandering at its finest.
Schools should endorse the loan. If the student does not pay, the school does.
So let’s penalize my kid for choosing a school she could afford without taking out student loans, and subsidize the irresponsible kids who went to Brown, but aren’t qualified to work a register at 7-11 with their Gender Studies degree......
That's "the new normal."
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