Posted on 06/25/2019 3:03:45 AM PDT by IBD editorial writer
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 ...
The Democratic party relies on people’s stupidity for votes. Much like time share salesmen, when they first trot out their sales pitch its sound wonderful but if you start thinking about it you soon realize it is a terrible deal. Democrats do not and I repeat DO NOT want you thinking, elsewise you would soon see they are selling fecal material
My husband and I repaid all my college loans. We paid cash for our 3 kids to go to college. If Bernie becomes president will he pay us back. Our youngest graduated from Concordia Irvine California and tuition and fees were almost $35K a year. Add books, car, gas, apartment, food, car insurance, clothes, shoes, utilities, supplies, some minimal furniture for apartment.... It was about $75K a year that we paid for. Can’t wait to get our reparations! Took him 6 years! $75K x 6 = YIKES! No wonder we didn’t buy a new car for ourselves while we had kids in college!!!! Come on Bernie, reparations please! LOL
No wonder the RATs have done so much harm. Nobody but conservatives even pay attention.
I used to be a five alarm flaming lib.
Then along came the internet.
In my experience, there are two kinds of lefties: the ignorant, and the ideologues. I was the former.
Tell your FIL from me, if you like, that in this day and age there is no excuse for ignorance. :-)
Aaaahhh, but soon it will become your bill to pay for someone else's kid's education.
You are not a shmuck. You are a responsible parent.
It would sure make me feel like a fool for working hard so my daughters would graduate without a debt load hanging over them.
Sanders seems to believe that as President he has the power to nullify all student loans simply by decreeing that it be done. Even if it requires a compliant Congress to pass “legislation,” Sanders hopes his coattails will usher in those needed to transform our country into a socialist paradise. But, neither Sanders nor any of the other socialists seeking the Democratic nomination pay any attention to the Full Faith and Credit clause in the Constitution which requires that a contract executed in one State must be honored in all other States. Since all of the student loans are based on contracts, abrogating all student debt would seem to violate the Constitution. Perhaps his answer will be to find the “right” activist judge to re-write the Constitution. This too me is just one more reason why all conservatives must vote in the next election.
My solution is to let graduates discharge the debt through bankruptcy (currently not allowed by law) and let the institutions holding the debts sue colleges and universities for some portion of their losses.
With a little luck some of the worst colleges will fold and the rest will close up the really stupid departments like “Queer Studies.”
Finally, no more gub’mint backed student loans except maybe for STEM majors with really good grades and standardized test scores (gonna need to revamp the standardized tests, too, to get rid of the political correctness infecting them).
In other words, I’m a schmuck.
I am a schmuck as well. For over 30 years my wife and I have put our nose to the grindstone, happily living a middle class life, but not much separates us from the supposed “poor”. Section 8 housing, scattered site housing (which moves some of these people right next door), reduced utilities, welfare, WIC, food stamps, reduced/free college, free health care, free phones, unlimited community outreach and support, on and on. Thus I’m being played, I’m a schmuck, I’m a loser, I work my ass off and the next door neighbor is living the same lifestyle. The middle class is being played.
It’s not about $$$$-It’s about power and control. Money is the way to get there.
Well, at least I have that going for me!
Aside from the costs they will bear in terms of dollars, they will pay an even steeper price measured by loss of freedom
Middle class will be wiped out joining the welfare poor like what FDR did.
Yes, but possibly not for the rest of our lifetimes.
The world is caught in a perfect storm where we can basically print-and-spend-and-print-and-spend, and nobody will do anything because they’re all afraid of being left without a chair if the music stops.
Leftists proposing this stuff have surely figured this out.
“Since Monopoly has stopped using paper money~~”
*
What! Say it ain’t so!!!! When and why did this happen!!!!?
Hey, Bernie, News Flash, "Wall Street" doesn't have it's OWN money.
Retirees trying to live above Social Security and fund their retirement by investing in stocks and bonds will get hit yet again.
Free Stuff
It isn’t like it’s going to come out of their pocket.
lobbyists wink
New version of Monopoly has no money, no Community Chest and no pieces. It does have an AI controller. So you basically buying a board and a controller - probably at double the price. Get your old version FAST!
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