Elizabeth Warren’s presidential campaign is not going well so she’s resorted to offering to buy your vote. If elected president, she will straight up give you free money, which seems like it may be a campaign finance violation, but she’s a democrat so everything she does is okay. She has come up a with a handy calculator so you can see just exactly how much she will bribe you to vote for her, which again seems either illegal or unethical, but you know those democrats have their own set of rules.
One of Warren’s horrible platforms is the she’s going to cancel all student loan debt. She says she’ll do this by taxing the rich, but there is honestly no way to pay for something like this without raising the shit out of all of our taxes. Like all of the “free” things democrats are offering, it’s coming out of our pockets.
To pump up her socialist redistribution of wealth scheme, Warren came up with a calculator to show how much of your student debt she’ll make the rest of us pay for. I don’t actually have any student debt because I got an education I can afford, but I decided to have some fun with this thing.
Warren created an interactive website called CANCEL MY STUDENT DEBT
Elizabeth’s new plan will cancel debt for more than 95% of people with student loan debt — and pay for it with a tax on the top 0.1% of Americans. See how much debt you’ll have canceled under Elizabeth’s plan.
The first thing the website asks is if you have any student debt. If you answer no, the website tells you that Elizabeth Warren will eliminate tuition, give black colleges $50 billion, and ban for-profit universities. That’s fun, but not nearly as entertaining if you say that “yes” I have student loan debt.
I lied and hit yes, which prompts the website to ask how much student loan debt I have. I put in $10,000 at which point I was asked how much I make a year. I arbitrarily said $50,000 and wouldn’t you know it, Warren says she will wipe out 100% of my fictional debt. Pretty sweet, huh?
I decided to have a little more fun with this thing and put that I had $1 million in student loan debt and make $26,000 a year. Presumably I got a liberal arts degree at an Ivy League school and used my degree to get a job at Starbucks.
Here was the response I got:
Great news!
You’ll have $50,000 of debt cancelled under Elizabeth’s plan, bringing your outstanding student debt down to $950,000.
What kind of shit is that? How am I going to pay off a $950,000 loan making $26,000 dollars a year? The interest alone is more than I make. That’s the opposite of great news. Oh wait, I forgot, I don’t have any student loan.
As far as I can tell, Warren’s plan puts a cap on $50,000 for “cancelling” student loan debt, which ain’t a bad bribe to get people to vote for her.
What Warren fails to tell people is that there is no way in hell she would ever get a bullshit law like this passed even if she was the president and had a democratic House and Senate. This would require billions if not trillions of dollars to implement and there is no way to pay for it without raising the hell out of everyone’s taxes.
The thing about rich people is, they are rich because they know how to hang onto their money. Any attempt to tax the wealthy just means they’ll get better at not paying taxes. That means that the middle and working class will have to foot the bill for this load of crap.
The democrats running in 2020 don’t have many ideas, but the ones they do are all ridiculous promises of free stuff that they could never possibly deliver on. They are promising “free” health care, “free” college, “free” debt forgiveness, “free” basic income, and “free” slave reparations. They would literally have to tax everyone at somewhere near 100% to pay for all of this and some folks may not be willing to give up their entire paycheck to fund the lifestyles of slackers and scumbags.
