Desperate fake Indian Elizabeth Warren has come up with another freebie at the expense of the U.S. Taxpayer. She wants to waive $50,000 in college loan debt for 42 million Americans. It would only apply to those who make under $100,000.
There would be “substantial” loan forgiveness for people who make up to $250,000, whatever that means.
That’s in addition to her plan for free college tuition at two and four-year institutions.
Warren’s desperate and has to do something as her campaign flails about and donations are in the red.
Together, her initiatives would cost $1.25 trillion over a decade, according to her team, covered by her “ultra-millionaire tax” — an annual 2 percent tax on wealth above $50 million and a 1 percent tax on wealth more than $1 billion.
It is not possible for ultra-millionaires to cover all these expenses and it would kill investment in this country. She is a socialist with no economic intelligence.
A major goal of the plan is to reduce the wealth gap between minorities and whites.
The communist American Federation of Teachers supports it.
Warren thinks the system is “rigged,” that we live in a “democracy,” not a Republic, and middle-class people can’t make it in our society, especially if they are minorities. She seems unaware of the low unemployment and the booming economy.
Socialists will be thrilled to spend us into bankruptcy so everyone will share in equal misery.
THEY’RE ALREADY BANKRUPTING PROGRAMS
These same leftists are already bankrupting our systems. Take the latest warning about Medicare and Social Security.
Federal officials issued a warning about the fiscal health of the Medicare and Social Security programs on Monday, cautioning that beneficiaries are set to face major shortfalls within about 15 years.
The Social Security and Medicare trustees projected that Social Security’s total cost is projected to exceed its total income in 2020 and that its trust funds will be depleted in 2035. At that point, enrollees would face a roughly 25% cut in benefits.