Elizabeth Warren wants Amazon broken up - but still shops there

Ann Santiago
April 24, 2019

At a CNN town hall in New Hampshire on Monday, Massachusetts Sen.

According to the details provided by Warren, her student debt cancelation plan has a one-off price tag of $640 billion to the government.

Under the plan, households with income under $100,000 would see student loan debts cancelled up to $50,000. Those making between $100,000 and $250,000 would see that $50,000 cancellation figure decrease by $1 for every $3 the person makes above $100,000. The short version of the story is that student debt is rising because college tuition is rising - and college tuition is rising, in large part, because state legislatures across the country have slowly been abandoning their commitment to fund public colleges and universities.

"There's been no efforts to help families with the rising cost of college, and it's forced whole generations of students to take on huge amounts of debt", Warren said.

Warren's stated reason for her conversion was essentially the same as those she has given in the past, that she was disturbed by economic conditions for "America's working families", and that "I looked around in the middle of that fight and I realized all the money was on one side and all the hurting was on the other".

Warren has a plan for everything, except how to turn around her campaign.

"The time for half-measures is over", Warren wrote in her piece on Medium.

"This pander will not only be incredibly costly, but it will be a slap in the face to those who have already struggled to pay off their student loans without government assistance". "My broad cancellation plan is a real solution to our student debt crisis". Elizabeth Warren (D- Mass.) proposed to eliminate existing loan debt for millions of Americans.

Mary Clare Amselem, a policy analyst with The Heritage Foundation, argues, "free college proposals will simply hasten the deterioration of quality education".

There is also a case to be made that free college will attract students who do not have the intellectual or academic tools to pursue education beyond high school; while state universities don't have to take all applicants, many states do offer "guaranteed admissions" to in-state students whose high school academic records are mediocre, at best.

"I wish I could staple a free college diploma under every one of your chairs-I do", Klobuchar said.

Canceled debt would not be taxed as income.

More than 44 million Americans have student loans, which add up to $1.5 trillion in total.

Warrens plan would also create a fund with a minimum of 50 billion meant to keep per-student spending at historically black colleges and universities and minority-serving institutions comparable to other area colleges.

The debt forgiveness benefits would be based on income, but an analysis of the plan conducted for the Warren campaign by a group of academic economists estimates that the policy would provide some relief for more than 95 percent of all households with student debt and would wipe out all debt for up to 76.2 percent of indebted households. She would pay for all this with her proposed "Ultra-Millionaire Tax" on the 75,000 American families who possess at least $50 million in wealth. Warren justified the link by asserting that higher education financing has always been crimped by tax cuts for wealthy Americans and corporations. "She's targeting the most at-risk people with the $50,000 limit".

She said: 'There is no political inconvenience exception to the United States Constitution'. And she wants to use the revenue it hypothetically generates not to pay for social programs targeting the poorest and neediest, but to fund debt forgiveness for the comfortable, college-educated upper middle class-which is to say, the sort of people who spend a lot of time reading NY magazine essays about Game of Thrones.

"There is racism in our criminal justice system and we must pledge to fix it".

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