Bernie Sanders says he will cancel all student loan debt if he’s president, can he do it?

[Amphetamine Salts]

I may have to vote for Bernie in November just cause of this. I still have around 175k loans I’m paying off. If he can rly cancel all student loans for everyone then that sounds very enticing

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[JustFillIt]

No... Probably not.. inevitability we all become slaves to the machine regardless of our debt status.

Come on - your a pot smoker, you should know this.

 

[BMBiology]

He wants to tax stocks to pay for student loan forgiveness. If you got a 401 k, you will be paying for it. Guess what? A lot of old people have one and they vote.

He also said he would provide free healthcare, medical debt forgiveness, free housing, a guaranteed government job that pays > $15/hr plus generous benefits.

He has been saying the same thing for the last 30 years. He can’t even get the majority of senators to go with his plans (he needs at least 59 to avoid a filibuster). That is when reality hits.

 

[WVUPharm2007]

The tax is on trades and its a fraction of a percent. If you index and hold, it really won't hit you that hard at all.

 

[VictorOfHungerGames]

Yup, $1000 a month would've worked out alot better... oh well people wanna stay poor i guess... haha

 

[mentos]

There's no such thing as a free lunch.

 

[BMBiology]

The tax is on trades and its a fraction of a percent. If you index and hold, it really won't hit you that hard at all.

$1.5T has to come from somewhere.

The majority of student loan debt is own by a household with a graduate degree. Why should the other 70% who do not even have a bachelor degree pay for your debt? Wouldn’t that cause more wealth inequality?

I graduated with 6 figures. I paid it off in a few years. It wasn’t difficult at all.

 

[Old Timer]

NO

 

[pharmacy_sucks]

He's a scumbag, and that's all I can say about him. This guy has never worked a day in the private sector and has no experience managing business of any sort. Whatever he says is basically just handing out free stuff, but who is going to pay for all this? the taxpayers!!! So why am I supposed to pay more taxes to subsidize tuition for an idiotic prepharm who thinks he/she is the perfect fit for pharmacy and has been "passionate" about it before birth?

What a joke, and whoever thinks any of his plan is feasible needs to go back to school and take a class called macroeconomics.

 

[Sine Cura]

OP is slave to base hedonistic desires. Of course he would want a write off

 

[WVUPharm2007]

He's a scumbag, and that's all I can say about him. This guy has never worked a day in the private sector and has no experience managing business of any sort. Whatever he says is basically just handing out free stuff, but who is going to pay for all this? the taxpayers!!! So why am I supposed to pay more taxes to subsidize tuition for an idiotic prepharm who thinks he/she is the perfect fit for pharmacy and has been "passionate" about it before birth?

What a joke, and whoever thinks any of his plan is feasible needs to go back to school and take a class called macroeconomics.

He's way too left wing for the country, but being a businessman doesn't prepare you for political office. That's two completely different worlds.

I personally don't care either way. Forgive the loans. They extra money those people have will just be spent and cycle right back into stocks and in my Vanguard portfolio.

 

[VictorOfHungerGames]

$1.5T has to come from somewhere.

The majority of student loan debt is own by a household with a graduate degree. Why should the other 70% who do not even have a bachelor degree pay for your debt? Wouldn’t that cause more wealth inequality?

I graduated with 6 figures. I paid it off in a few years. It wasn’t difficult at all.

Yang's proposal of taxing companies like Amazon made sense. I didn't know until he talked about it that amazon and netflix paid zero in taxes... we could've apparently gotten close to a trillion dollars if we would just tax the big tech companies.

Just flat cancelling student loans would be a... crime?! fraud?? no? what about those who's already paid a chunk or whole off? like that dad who confronted Warren, are they gonna refund the money to those who paid already? the problem with these scumbag politicians is that they would lie to get in power... but we all know this and still vote... haha they know you're a slave and can't think for yourself.

 

[mentos]

Yang's proposal of taxing companies like Amazon made sense. I didn't know until he talked about it that amazon and netflix paid zero in taxes... we could've apparently gotten close to a trillion dollars if we would just tax the big tech companies.

Just flat cancelling student loans would be a... crime?! fraud?? no? what about those who's already paid a chunk or whole off? like that dad who confronted Warren, are they gonna refund the money to those who paid already? the problem with these scumbag politicians is that they would lie to get in power... but we all know this and still vote... haha they know you're a slave and can't think for yourself.

No one cares about us responsible people who paid off our loans. To them, we are greedy cause we don't have loans anymore.

 

[Ludwig2000]

I may have to vote for Bernie in November just cause of this. I still have around 175k loans I’m paying off. If he can rly cancel all student loans for everyone then that sounds very enticing

I believe he has also said the vending machines will be free, the water fountains will be filled with Dr Pepper, and recess will be all day long

 

[TheDancingWriter]

Yang's proposal of taxing companies like Amazon made sense. I didn't know until he talked about it that amazon and netflix paid zero in taxes... we could've apparently gotten close to a trillion dollars if we would just tax the big tech companies.

Just flat cancelling student loans would be a... crime?! fraud?? no? what about those who's already paid a chunk or whole off? like that dad who confronted Warren, are they gonna refund the money to those who paid already? the problem with these scumbag politicians is that they would lie to get in power... but we all know this and still vote... haha they know you're a slave and can't think for yourself.

Unfortunately Yang dropped out. Shame, because I would have voted for him. Now there's no one who is appealing. Bernie is just too extreme and unrealistic.

 

[VictorOfHungerGames]

No one cares about us responsible people who paid off our loans. To them, we are greedy cause we don't have loans anymore.

How about if we responsibly not care and not vote? haha if no one cared, would they still lie?

 

[BMBiology]

Yang's proposal of taxing companies like Amazon made sense. I didn't know until he talked about it that amazon and netflix paid zero in taxes... we could've apparently gotten close to a trillion dollars if we would just tax the big tech companies.

Just flat cancelling student loans would be a... crime?! fraud?? no? what about those who's already paid a chunk or whole off? like that dad who confronted Warren, are they gonna refund the money to those who paid already? the problem with these scumbag politicians is that they would lie to get in power... but we all know this and still vote... haha they know you're a slave and can't think for yourself.

Yeah...that is why I support Andrew Yang $1 k/month because you can do whatever you want with it - student loans, healthcare, mortgage, whatever. It gives power to the people. Moreover, it has a much higher chance of passing thru Congress.

Everything with Bernie is a human right but he doesn’t have a way to pay for it and it is not practical. If Pfizer comes out with a brand new drug and if they know the government has to buy it because healthcare is a human right then what is going to stop Pfizer from jacking up the price? Same thing with free college tuition. If colleges and students know the government is going to pay for everything then why not keep on raising tuition? Why not keep on borrowing to the max? That is why Bernie form of government is inefficient and it doesn’t work. He has been in Congress for 30 years and all he got is a plan.

 

[WVUPharm2007]

RIP The Yang. He was too beautiful for our world.

 

[AM77]

How many times do we have to keep beating a dead horse? Bernie will say and do anything to get your vote. He does not have the power to cancel all student loan debt. Only Congress can do that. How do you think he’s going to come up with all the money to pay off student loan debt. By forcibly taking away all our money from our pockets. Wake up, people. You can’t get something for nothing. Socialism always sounds great on paper but fails every single time when put into practice.

 

[PharmtoCS]

A common argument is that student loans are a drag on the economy and forgiving it all would allow borrowers to spend that money on cars and houses.

But what most people don't realize is that the economy already got a $1 trillion+ windfall from the money that was borrowed by students. Much of that money went to a massive expansive in administrative staff. Many construction workers had to be hired to make universities more resort-like. All the additional work that had to be done has likely led to a decrease in unemployment rates. And don't forget the student loan money that was spent on landlords, restaurants, Apple devices, spring break vacations, and even cars.

Think of the student loans as a bailout of the economy that's already roaring with record low unemployment.

 

[Sine Cura]

Capitalism also sounds great on paper when you can wave away all externalities are that are inconvenient to acknowledge

 

[ValeRx]

"The trouble with Socialism is that eventually you run out of other people's money."

 

[JustFillIt]

Yeah...that is why I support Andrew Yang $1 k/month because you can do whatever you want with it - student loans, healthcare, mortgage, whatever. It gives power to the people. Moreover, it has a much higher chance of passing thru Congress.

Everything with Bernie is a human right but he doesn’t have a way to pay for it and it is not practical. If Pfizer comes out with a brand new drug and if they know the government has to buy it because healthcare is a human right then what is going to stop Pfizer from jacking up the price? Same thing with free college tuition. If colleges and students know the government is going to pay for everything then why not keep on raising tuition? Why not keep on borrowing to the max? That is why Bernie form of government is inefficient and it doesn’t work. He has been in Congress for 30 years and all he got is a plan.

Ya know... I’m going to slap a like on this comment. I liked Yang too. Unfortunately, the Yang dream is over... Maybe we should move on.

Anyone that is talking about a free 1000 dollars a year is just talking out of their yin yang anyway.

 

[WVUPharm2007]

"The trouble with Socialism is that eventually you run out of other people's money."

One of the more trite quotes I see used all of the time.

As if literally 100% of successful "capitalist" economies aren't heavily mixed with things like socialized defense, transportation, healthcare, etc.

 

[wagrxm2000]

75% of people didn't vote for Sanders and outside of Warren voters, he's not anyone's second choice.

This will never happen so don't get your hopes up.

 

[owlegrad]

"The trouble with Socialism is that eventually you run out of other people's money."

Pithy but hardly accurate. How many socialist countries are there? How many of them have the same or less debt that capitalist countries?

And as always, where do you even draw the line? Is universal healthcare the thing that will make us socialist? But roads, schools, military, police, firefighters, etc are all fine as long as we call it capitalism?

 

[mentos]

I don't see anyone beating Trump now. Yang would have been his best competition but the average American thinks Bernie will provide free college and healthcare for all.

 

[Amphetamine Salts]

problem with yang is that he didn't catch fire. maybe next time if he runs ppl will remember him and return to support

 

[mentos]

Plus the media didn't give him any coverage because they're racist.

 

[wagrxm2000]

Pithy but hardly accurate. How many socialist countries are there? How many of them have the same or less debt that capitalist countries?

And as always, where do you even draw the line? Is universal healthcare the thing that will make us socialist? But roads, schools, military, police, firefighters, etc are all fine as long as we call it capitalism?

Ah privately owned roads. One can only dream.

 

[ValeRx]

 

[JustFillIt]

Ah privately owned roads. One can only dream.

This would be so odd... what would their advertisement be like? Who would their target customer be?

 

[Saiyo]

So hold up a second, we'd have to pay for all the students who decided to go to these expensive schools from our 401ks?
I think its the responsibility of the student to be able to calculate their expected debt and earnings to figure out if school is worthwhile, right?

 

[VictorOfHungerGames]

problem with yang is that he didn't catch fire. maybe next time if he runs ppl will remember him and return to support

Also, he's too smart for an average american. They hear $1000 a month and without a question they will start making fun of it and shut the idea down. blah blah blah...

 

[wagrxm2000]

So hold up a second, we'd have to pay for all the students who decided to go to these expensive schools from our 401ks?
I think its the responsibility of the student to be able to calculate their expected debt and earnings to figure out if school is worthwhile, right?

Not according to Bennie.

Neither him not Warren can answer that father's question. Why should he do the right thing and pay off his daughters tuition while others get it for free?

That father could have been way better off had he not done that and this somehow would pass.

There's no reason to worry though, it will never happen.

 

[owlegrad]

One of the many tools the rich use against the poor is to divide them against each other. Rather than being happy for the next generation all people will think is “why should someone else get it free when I didn’t!”.

And it works! That father should be happy for the people who catch a break, not spiteful. It absolutely does not hurt him in anyway. It’s just plain spite. He got his, screw the rest of you.

 

[wagrxm2000]

One of the many tools the rich use against the poor is to divide them against each other. Rather than being happy for the next generation all people will think is “why should someone else get it free when I didn’t!”.

And it works! That father should be happy for the people who catch a break, not spiteful. It absolutely does not hurt him in anyway. It’s just plain spite. He got his, screw the rest of you.

This makes zero sense.

Two father's. One now has $100k or whatever in his pocket and the other has none.

Here's an idea go pay for your neighbors college. I bet you don't.

 

[BMBiology]

One of the many tools the rich use against the poor is to divide them against each other. Rather than being happy for the next generation all people will think is “why should someone else get it free when I didn’t!”.

And it works! That father should be happy for the people who catch a break, not spiteful. It absolutely does not hurt him in anyway. It’s just plain spite. He got his, screw the rest of you.

I can understand if the government starts to offer cheap tuition for community college.

I think the part that bothers most people is the idea of retroactively forgiving student loans that were taken out 10, 15 years ago regardless if the person needs financial assistance or not. Moreover, most people don’t want to pay for another person’s debt by having to pay more taxes.

 

[owlegrad]

Here's an idea go pay for your neighbors college. I bet you don't.

Do you actually believe this is equivalent to paying off ALL student loans or do you think it sounds clever or something? It’s just about the dumbest possible response.

If I could pay off EVERYONES student loans, I would. Failing that I will be willing to pay fractionally higher taxes so that people can go to college without being saddled with mountains of debt.

But by all means please continue to think I am a hypocrite because I am not willing to give away ALL my money to help ONE person vs addressing a systemic issue.

 

[Seriously Serious]

Ah privately owned roads. One can only dream.

This would be so odd... what would their advertisement be like? Who would their target customer be?

Toll roads.... lol

 

[Xarelto-10]

He's a scumbag, and that's all I can say about him. This guy has never worked a day in the private sector and has no experience managing business of any sort. Whatever he says is basically just handing out free stuff, but who is going to pay for all this? the taxpayers!!! So why am I supposed to pay more taxes to subsidize tuition for an idiotic prepharm who thinks he/she is the perfect fit for pharmacy and has been "passionate" about it before birth?

What a joke, and whoever thinks any of his plan is feasible needs to go back to school and take a class called macroeconomics.

I must say I don’t like the idea of government forgiving student loan debt. But going forward if they can make college education, and healthcare more affordable, and give people decent minimum wage- those are great ideas.
yes the money to pay for these things has to come from somewhere, but when the govt wanted to cut slack to the richest of our society it seems it did not matter that much where the money came from.

 

[wagrxm2000]

Do you actually believe this is equivalent to paying off ALL student loans or do you think it sounds clever or something? It’s just about the dumbest possible response.

If I could pay off EVERYONES student loans, I would. Failing that I will be willing to pay fractionally higher taxes so that people can go to college without being saddled with mountains of debt.

But by all means please continue to think I am a hypocrite because I am not willing to give away ALL my money to help ONE person vs addressing a systemic issue.

So the average college debt is somewhere around $30k.

Why not give every graduate $30k. Why should those that can't properly plan only get $30k?

 

[deleted898085]

So the average college debt is somewhere around $30k.

Why not give every graduate $30k. Why should those that can't properly plan only get $30k?

There are many ways to address the issue and Bernie just picks one.

 

[wagrxm2000]

There are many ways to address the issue and Bernie just picks one.

And that in itself is the problem. The career politician has convinced his followers he can put thousands of dollars in their pockets.

He has the younger population wrapped around his finger.

 

[deleted898085]

If that's what majority wants then they'll win.
Some ppl are happy to see the next generation free of debt, some ppl aren't.
European system makes ppl pay more tax to have almost free healthcare and free college.

 

[ValeRx]

Do you actually believe this is equivalent to paying off ALL student loans or do you think it sounds clever or something? It’s just about the dumbest possible response.

If I could pay off EVERYONES student loans, I would. Failing that I will be willing to pay fractionally higher taxes so that people can go to college without being saddled with mountains of debt.

But by all means please continue to think I am a hypocrite because I am not willing to give away ALL my money to help ONE person vs addressing a systemic issue.

WARNING: Virtue signaling alert!!

 

[BMBiology]

There are many ways to address the issue and Bernie just picks one.

It surprises me that he doesn’t go after college administrators who make many times the U.S President. Well, not too surprising since these “educators” support the Democratic Party

 

[BMBiology]

If that's what majority wants then they'll win.
Some ppl are happy to see the next generation free of debt, some ppl aren't.
European system makes ppl pay more tax to have almost free healthcare and free college.

Don’t be too surprise when they get change their tone as they get older. Remember these baby boomers were once demanding change and now they stand in the way of change.

 

[deleted898085]

Don’t be too surprise when they get change their tone as they get older. Remember these baby boomers were once demanding change and now they stand in the way of change.

Yeah, I don't think the young will win this time.

 

[BMBiology]

Yeah, I don't think the young will win this time.

I get why college students are drawn to socialism. Many of them came of age during the housing crash so they experienced the worse of capitalism.

As I get older, I started to see the waste and inefficiency of our government. You have to realize that most politicians are just lawyers. They are good at giving speeches. But, what do lawyers know about healthcare? education? transportation? But yet, we elect them to make all of these big decisions for us.