Article by Bryan Howard
April 22, 2019
Democrat Senator and 2020 hopeful Elizabeth Warren wants to eliminate College tuition debt in America. She proposes this will be paid off by taxing everyone and not hole the individuals who took out the loans responsible. This will cost the tax payers up to $1.25 Trillion over the next decade.
Warren released a statement,
The first step in addressing this crisis is to deal head-on with the outstanding debt that is weighing down millions of families and should never have been required in the first place. That’s why I’m calling for something truly transformational — the cancellation of up to $50,000 in student loan debt for 42 million Americans.
My plan for broad student debt cancellation will:
Cancel debt for more than 95% of the nearly 45 million Americans with student loan debt;
Wipe out student loan debt entirely for more than 75% of the Americans with that debt;
Substantially increase wealth for Black and Latinx families and reduce both the Black-White and Latinx-White wealth gaps; and
Provide an enormous middle-class stimulus that will boost economic growth, increase home purchases, and fuel a new wave of small business formation.
Warren wrote, “Experts estimate my debt cancellation plan creates a one-time cost to the government of $640 billion. The Universal Free College program brings the total cost of the program to roughly $1.25 trillion over ten years.”
The Democrats are proposing radical ideas that will relentlessly tax the average American to the point they are no longer bringing in an income and it all goes to Uncle Sam. We need to stand up to these tyrannical bullies that plan to take all of our money and force us to live in a Communist state begging for a slice of bread in a bread line.