Elizabeth Warren's plan to cancel 42 mil Americans' student-loan debt could give her a huge boost

[applegrove]

Elizabeth Warren's plan to cancel 42 million Americans' student-loan debt could give her a huge boost in the 2020 race

Eliza Relman at Business Insider

https://www.businessinsider.com/democrats-support-elizabeth-warren-plan-to-cancel-college-student-loan-debt-2019-5?utm_source=reddit.com

"SNIP.....

Overall, 57% of Americans at least somewhat support the 2020 candidate's debt cancellation proposal and 21% opposed the measure. 13% of respondents did not either support or oppose the idea while 9% said they didn't know how they felt about the plan.

The plan found majority support among thosewho wouldn't benefit from debt cancellation directly, including those who've already paid off their student loans, who never took out loans, or who did not attend college or graduate school.

Warren's plan is vast in scope: it would eliminate all student debt for 75% of Americans who have it, and get rid of at least some debt for 95% of the almost 45 million affected Americans, according to an analysis by four social policy professors released by Warren's campaign.

.....SNIP"

[DesertRat]

1. I read your title as "give her huge boos"

I had to click the link to see why people would boo this awesome plan.

[applegrove]

2. I changed it. Thanks.

[Doodley]

3. Paid with a "2% annual tax on the 75,000 families with $50 million or more in wealth."

[rusty quoin]

4. I'm for that though me and my wife paid for our 2 kids.

One is left in high school, but the difference between Democrats and Republicans is that Democrats think long term and Republicans think in terms of an instant.

Democrats have thought about the future of the world and always fought for climate change legislation. It use to be 350 ppm CO2, and still Republicans are all for coal and oil at 400.

I won’t see the worst of that. I care about humans though.

That student debt forgiveness is a must.

[applegrove]

6. Yes cause right now it is making home ownership hard for young adults which means less

wealth for them as they have families and live in more and more expensive rental properties. A good way to create a class system. Corrupt to not let the kids renegotiate loans when interest rates go down.

[Ford_Prefect]

5. All we have to do is cancel a few F-35s and the whole thing is paid for...Win-win.

[still_one]

7. I have a mortgage and a car loan, I wonder if I can get that cancelled also?

[JustAnotherGen]

11. Nope

And I have a retirement account that I need every single penny in. The catch will be that ALL wealth will be on the table. Even for those of us who don't have a Millennial or Y to take care of us if we live into our 80's. Those of us who have planned to pay for in home care and assistance need to be considered. But we won't be.

I would rather they cut from the defense budget for a few years.

The wealth tax should be used to offset Social Security. Seniors shouldn't have to pay income tax on SS.

[still_one]

13. I was being sarcastic Gen. What you are talking about I absolutely agree with, but that is an

entirely different issue.

That taxing of Social Security happened during Reagan. It is a tax upon a tax. For Social Security what they need to do at a minimum is raise the CAP.

There is a lot of places where they can cut, including the defense budget, but where they should start is undo the Boondoggle they called the tax cuts from 2018.

[OKNancy]

8. It's a good plan, but how would it ever pass Congress

even if we win back the Senate, which is doubtful, I just don't see it going anywhere.

[ancianita]

9. We voters have never been able to make them see us as worth that money. But we have to.

They always see the top 150 families, military, big oil and big pharma as worth the money.

That's debt release from banks. Which opens up more economic activity right here, almost like hiking the minimum wage to a living wage.

The banks will still be competitive in the global markets and won't feel a blip.

[marylandblue]

14. If I were Warren, and she has a Democratic Congress, I'd propose New Deal II

A comprehensive jobs, healthcare and debt relief package to be passed in the first 100 days, when she would be strongest. She should ask Americans to call Congress every day and demand they pass it. She won't get everything she wants, but she can create a lot of pressure to get at least some of it through.

[Hortensis]

10. Good, but we should get rid of that word "cancel." It's debt

and is far too enormous to just cancel.

Her plan, and any plan of this sort, is that we, our nation's taxpayers, assume the debt it for the good of the nation. Righting this increasingly crippling and oppressive problem would pay off in a number of benefits for us, economically and socially, not just for the borrowers.

What makes her plan special is that we raise the money by a small tax increase on the very wealthy. I.e., her plan would shift the burden not only from the borrowers to us but from us to a subset of us.

[mcar]

12. K&R!

[crazytown]

15. Student loan debt has driven teachers out of teaching.

It has pushed graduates away from their vocation into a search for the highest paying jobs.