Senator and 2020 Presidental candidate Elizabeth Warren of Massachusetts proposed quite the solution on Monday to handle the $1.25 trillion owed in student loans: cancel nearly all student loans and eliminate tuition at every public college.
Warren’s plan would eliminate student loan debt for 42 million Americans by canceling $50,000 in debt for everyone with a household income between $100,000 and $250,000, as well as generate a one-time cost to the federal government of $640 billion.
The Massachusetts Senator says she would pay for everything with revenue generated by the Democrats’ go-to proposal: hike taxes on America’s most wealthy families and corporations. Her campaign estimates future revenue would be $2.75 trillion over 10 years.
Warren also proposes the elimination of undergraduate tuition at public colleges and universities as well as expand federal grants to assist students with nontuition expenses. Finally, Warren wants to create a $50 billion fund to support black colleges and universities.
Freebies freebies freebies. It’s not so much of an original plan as it is a bribe.
This is quite different from what President Trump has in mind, which based in fiscal responsibility.
Turn the page for Trump’s plan.