Warren ripped over 'free college' plan paid by taxpayers

Tuesday, April 23, 2019
 | 
Michael F. Haverluck (OneNewsNow.com)

college tuition costsAs Sen. Elizabeth Warren (D-Mass.) eyes her 2020 presidential election run, she is getting blasted for her “free college” proposal that would relieve student loan debt up to $50,000 for tens of millions of former students – claiming her plan will stimulate the economy.

“I’m calling for universal free college and the cancellation of student loan debt for more than 95 percent of Americans,” Warren tweeted Monday. “This is the kind of big, structural change we need to make sure our kids have opportunity in this country.”

Not so fast …

But this feel-good optimism by the ultra-left Democrat from Massachusetts – the first state to legalize same-sex marriage in 2004 – was soon brought into question by critics and other discerning Americans, with many bringing up the unfairness of rewarding the financially irresponsible.

“[Warren’s] plan – announced just as the support level for her announced presidential campaign appears to be stuck on the single digits – apparently would offer nothing to those who didn’t go to college,” WND noted. “Nor is it clear what would happen to those who already worked hard, saved their money and paid off their loans.”

Complaints on social media immediately started pouring in after Warren declared her problematic plan, with the fairness issue being brought up numerous times.

“How is that fair for those ppl that worked hard to pay off all their loans?” Michael Mei demanded in his Twitter post directed at Warren.

Another wondered if he would be disadvantaged by finishing his loan payments decades earlier – unable to benefit from the plan because he was financially responsible.

“Will I get reimbursed for paying back my student loans 20 years ago?” Okio B Designs asked Warren in a tweet.

McCluskey: Just more money down the drain

Bob Kellog (OneNewsNow.com)

An educational analyst with the Cato Institute believes Senator Elizabeth Warren's complex and murky campaign proposal for eliminating college debt and tuition is principally unfair to wealthy taxpayers.

McCluskey, Neal (Cato Institute)"It sounds like she's saying the entire cost of this whole proposal – which comes to, in her estimate, $1.25 trillion over 10 years – would be covered by her ultra-millionaire tax," says Neal McCluskey, associate director of the Cato Institute's Center for Educational Freedom.

McCluskey strongly disagrees with the Democratic senator's claims that her plan would eventually lead to much greater economic growth because graduates would not be burdened with repaying college loans.

"None of the actual evidence suggests that this is going to lead to economic growth," he tells OneNewsNow. "If anything, it's just going to lead to more consumption in the name of education that isn't educating people."

Ironically, McCluskey says evidence shows that over the previous decades the amount of learning in college has decreased while the cost of education has exponentially risen.

Personal gain?

In another tweet, director and actor Nick Search – dubbed as an “international film & television star” on Twitter – pressed Warren to see what kind of underhanded personal gain she would glean from her college tuition proposal.

“This makes sense only because @ewarren and her fellow leftists have made college absolutely worthless,” Searcy tweeted Monday. “The cost of it should be zero, because it isn’t worth anything. But what she is actually proposing is making taxpayers pay her and her fellow leftists lots of money for [expletive for nothing].”

It was ventured whether Warren’s college payback scheme is just a covert ploy that would ensure that career politicians – such as herself – will receive future income.

“She’s paid by tax money now – in the Senate – but for years, she taught at Rutgers, Houston, Texas-Austin, Pennsylvania and Harvard, and she and her husband have an estimated worth of between $4 million and $11 million,” WND pointed out.

The total for student debt in the U.S. is reported by CBS as now standing at an ominous $1.46 trillion, and it was further noted that these outstanding payments are attributed to delayed first-home purchases and other financial responsibilities.

“Obtaining a college degree has become something of an economic Catch-22 in recent decades,” CBS News reported. “Earning a bachelor’s degree is increasingly necessary to guarantee lifelong higher earnings — but the accompanying debt can hamper a grad’s ability to buy a house, a car or climb the socioeconomic ladder.”

Also mentioned was the amount of the typical monthly repayment – $400 – a substantial amount that would be a major bonus for former students if their loan payments are cancelled.

Whoopie!

Americans who graduated from college in the not-so-distant past could see their finances change significantly if Warren’s radical left plan moves forward.

“The impact would help not only boost Millennials, but Gen Xers and Baby Boomers who are also struggling to repay their loans,” CBS pointed out.

The leftist news network relayed messages posted by social media users eager to cash in on Warren’s plan and receive debt relief to free them up to make other purchases.

“This is an issue that affects me and so many of my friends,” a Twitter user posted, according to CBS. “The effect on the economy would be enormous – and not just Millennials moving out of their parents’ houses, but Gen X folks like me who just might be able to buy a house.'”

CBS ventured that Warren’s plan would disproportionately benefit students from richer families, whites and Asians – more so than students from other ethnic backgrounds.

Robin Hood economics …

The 2020 Democratic White House hopeful is also eager to take money from the rich to give to the poor – a redistribution of wealth agenda promoted by many fellow party members, including self-proclaimed socialist Rep. Alexandria Ocasio-Cortez (D-N.Y.) … along with socialist Sen. Bernie Sanders (I-Vt.).

“Warren proposes to pay for the plan by a new tax on the wealthy – from which she suggests taking $2.75 trillion over 10 years,” WND informed. “Her proposal would forgive loans up to $50,000 for households with income of $100,000 or less. Less would be forgiven for wealthier households.”

Her plan is far more expansive than just relieving past college loan debts.

“Also, the plan is to make colleges tuition-free for lower-income households,” WND added. “She has grant programs for housing, food, books and more, an expansion of Pell Grants and $50 billion for black colleges. A similar, previous, plan failed in Congress just last year.”

While in office, former President Barack Obama attempted to allocate more than $100 billion in taxpayer funds to college tuition debt relief – a plan that was often criticized as pandering to the votes of the younger generation.

“Barack Obama’s plan some years ago to have the government take over student loans nationwide – which the Wall Street Journal described as a ‘bill for buying millennial votes,’ is estimated by the Government Accountability Office to have cost taxpayers $108 billion,” WND recalled.

Beating out the leftist competition

Because Warren’s plan includes eradicating student debt, providing free tuition to public college and giving grants to pay for room and board, it is considered the most comprehensive plan offered by any presidential candidate – affecting all public college campuses from coast to coast.

“Democratic presidential candidate Elizabeth Warren wants to wipe out student debt for the majority of Americans and make tuition free for undergraduates at all public two- and four-year colleges in the U.S.,” Forbes impressed.

Fellow Democrats have not proposed such a “generous” plan – at taxpayers’ expense, of course.

“[T]he Massachusetts Senator became the first 2020 candidate to detail a higher education plan,” Forbes Senior Editor Susan Adams announced. “Her proposal is far more comprehensive than the college plans introduced by Hillary Clinton and Bernie Sanders in 2016.”

She revealed the approximate amount of money taxpayers would have to shell out to extend public funding of students from K–12 up through college graduation.

“Experts estimate my debt cancellation plan creates a one-time cost to the government of $640 billion,” Warren wrote in a story published on Medium. “The Universal Free College program brings the total cost of the program to roughly $1.25 trillion over 10 years.”

Her plan calls for a major redistribution of America’s wealth.

“She would pay for it with funds raised by her proposed tax on the wealthiest Americans,” Adams pointed out. “In January, she introduced a plan to impose a 2-percent tax on Americans worth more than $50 million and a 3-percent tax on those worth more than $1 billion. She adds that she believes the economic stimulus caused by her plan would bring the net cost down.”

She went on to declare the $1.5 trillion in outstanding student debt a national “crisis” that demands action.

“We can address the student loan crisis and cancel debt for families that are struggling – we can provide truly universal free college,” Warren continued. “We can fix some of the structural problems that are preventing our higher education system from fairly serving lower-income students and students of color. We can make big structural change and create new opportunities for all Americans.”

The 2020 candidate often criticized and questioned for self-identifying as a Native American blamed tax breaks extended to Americans by President Donald Trump – which cut taxes for Americans falling under every income bracket – as contributing to the problem of student debt because she wanted that money to fund unpaid college bills and free tuition.

“[T]he state government and federal governments decided that instead of treating higher education like our public school system – free and accessible to all Americans – they’d rather cut taxes for billionaires and giant corporations and offload the cost of higher education onto students and their families,” Warren claimed while trying to justify her expensive plan.

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