Democrat presidential candidate Bernie Sanders has introduced a huge socialist proposal that he hopes will be able to nail down his support with millennials who are clamoring for free stuff.
On Monday, the senator from Vermont one-upped Elizabeth Warren who is nipping at his heels in polls with a call to cancel $1.6 trillion in student loan debt, an idea that will have the coveted young voter demographic swarming to him like moths to a porch light.
According to Comrade Bernie, not only would all of the nation’s student loan debt be wiped out but the additional freebie of college tuition would be included, something that the nation’s most prominent class warrior has previously called for.
In rolling out what he calls “The College for All Act,” Sanders is looking to widen his appeal beyond the fast food griddle jockeys, Walmart workers and shiftless moochers that he already has conscripted into his socialist army. With recent polls showing that gullible millennials are eager to embrace ideas that have been historically disastrous wherever they have been implemented, he could have a formidable advantage on his fellow candidates.
Sanders once again has no concrete details on how his pie in the sky promises will be funded other than a vague “transaction tax” on Wall Street which has long served as his favorite punching bag.
The candidate has described the legislation as – you guessed it – “revolutionary.”
I am going to make a prediction. The major opponents of our legislation to cancel $1.6 trillion in student debt—mark my words—will be the exact same people who said we had to bail out Wall Street to the tune of billions upon billions of dollars. https://t.co/kFv0scUydu
— Bernie Sanders (@SenSanders) June 24, 2019
Sen. Bernie Sanders announced a plan on Monday to erase the country’s $1.6 trillion outstanding student loan tab, intensifying the higher education policy debate in the 2020 Democratic presidential primary.
The Democratic presidential candidate’s legislation — dubbed “The College for All Act” — will release all 45 million Americans from their student debt and be paid for with a new tax on Wall Street transactions.
The proposal goes further than fellow Democratic candidate Elizabeth Warren’s plan, which caps student debt forgiveness at $50,000 and offers no relief to borrowers who earn more than $250,000.
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 senator’s office.
Bernie has joined forces with controversial (and possibly anti-Semitic) Rep. Ilhan Omar in pushing this scheme along with Seattle socialist Rep. Pramila Jayapal who isn’t content with ruining her own city but has national aspirations to promote squalor and homelessness from sea to shining sea.
While there will inevitably be criticism, as Sanders showed with his big speech at George Washington University two weeks ago, nobody in the Democrat field is going to be able to outflank him on the left.
Right on cue, the de facto leader of the House Democrats has already offered her endorsement of the call to wipe out “scam” student loans.
Student loans are a scam.
PS: for the cost of the GOP tax scam (~$2 TRILLION), we could’ve already forgiven every student loan in America w/ billions left over. https://t.co/GXRHHWoKai
— Alexandria Ocasio-Cortez (@AOC) June 24, 2019
Neither Sanders, Omar, nor AOC has commented on the unfairness to those who worked their rear ends off to repay their own student loan debt nor should anyone expect them to do so.
The announcement comes only days after Bernie acknowledged that if elected that he would give free health care to millions of illegal immigrants.