Two things are believed by the socialists quoted in this article; that we should eat the rich, and that giving someone a free $50,000 isn’t a lot of money.
Bernie Sanders is the favorite among Democratic Socialists for the obvious reason that he is one himself, and that he’s offering more freebies than any other candidate on the stage.
Among the many Santa Claus proposals of Sanders is a complete forgiveness of the nation’s outstanding $1.6 trillion in student loan debt (in addition to making future college tuition free). Elizabeth Warren has herself proposed a forgiveness scheme that would cap student loan forgiveness at $50,000 for those making less than $100,000 annually (and would gradually phase out for those who earn more than that).
While no conservative will agree with either proposal, Warren’s is at least sort-of means tested. That being said, it would still cost taxpayers an astronomical sum. The average student loan balance was roughly 27k for graduates of public four-year colleges in 2017, so the average person would have their debt wiped out under her proposal.
But socialists are not average – both in their (lack of) understanding of economics, and their career choices. Warren released a “Cancel My Student Debt” calculator so voters could calculate how much they would save at the American taxpayers expense under her plan, and many leftists were quick to seize on it as yet another reason to oppose her. Ironically, I agree for the exact opposite reason that they do! read more