It appears that the society progressives have dreamed of for some time is upon us, as many Americans now value dependence over independence and responsibility, socialism over capitalism, and, along their way happily casting their votes for Bernie Sanders, who is now in the lead. Indeed…
- 52% of our 18-to-34-year-olds now favor socialism;
- More than 50% of them view capitalism as “bad” and socialism as “nirvana.”
At the same time, these presidential hopefuls have big spending plans when it comes to tax dollars for everything from health care and childcare to the Green New Deal, higher education and debt forgiveness, according to the Progressive Policy Institute:
- Bernie Sanders: $51.5 trillion
- Elizabeth Warren: $34.9 trillion
- Pete Buttigieg: $7.6 trillion
- Joe Biden: $5.9 trillion
And when it comes to their higher education plans, The Washington Post’s Kery Murakami finds that:
- Sanders would cancel all student debt.
- Warren would eliminate 75% of borrowers’ loans.
- Bloomberg would restrict debt forgiveness to borrowers who’d attended failed or predatory for-profit colleges and would enroll current and future borrowers in income-based repayment plans, forgiving balances, tax-free to those paying down their debts for 20 years. He’d also lower repayment rates from 10% to 5%.
- Biden, like Bloomberg, would lower repayment rates to 5% of discretionary income, and those with incomes of $25,000 or less would not need to repay their federal undergraduate loans. Those who were deceived by for-profit colleges would also be absolved.
- Klobuchar would allow borrowers to refinance their loans and would expand the Public Service Loan Forgiveness Program to more in-demand occupations.
- Buttigieg would automatically enroll struggling borrowers in income-based plans and would speed up the cancellation of student debt for government and non-profit workers.
All have proposed free community college tuition, but Buttigieg would also make public 4-year institutions free for those whose families make less than $100,000, and those whose families earn between $100,000 and $150,000 would receive tuition subsidies on a sliding scale basis.
Bloomberg, on the other hand, would make public colleges free only for families making less than $30,000.
Are you on the band wagon, too?