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Home / US / Sanders demands $ 1.6 trillion in student debt eliminated by taxing Wall Street

Sanders demands $ 1.6 trillion in student debt eliminated by taxing Wall Street



Sen. Bernie Sanders, I-Vt., Proposed a plan on Monday to eliminate $ 1.6 trillion of American student loans by charging a tax on Wall Street banks.

Sanders spoke outside the Capitol building, flanking the Deputies Ilhan Omar (D-Minn.) And Pramila Jayapal (D-Wash.) For the elimination of all student loans held by 54 million Americans and private educational institutions – and participation in public universities, community colleges and commercial schools are free.

"This proposal allows anyone in America to receive higher education, regardless of their financial status," Sanders said. "We will make full and complete education a fundamental right."

STUDENT LOANS ARE THE BIGGEST SOURCE OF PERSONAL DEBT IN THE US

He added, "It is unacceptable that the younger generation, through no fault of their own, has a lower standard of living than their parents' generation." [OmarplanstointroducesimilarlawsintheHouseofRepresentativestoeliminatestudents'debtswhileJayapal-co-chairoftheProgressiveCongress-hasdonesowasachampionofthenon-teachingcollege

Sanders said his plan was with would be taxed on speculation by major Wall Street banks would bring in more than $ 2 trillion over 1

0 years – even though some tax experts are presenting lower revenue estimates, suggesting that financial institutions should be taxed at 0.5% on stock trades and with a tax of Hit 0.1 percent on bonds.

"In 2008, the American people rescued Wall Street "Sanders said. "Now it's up to Wall Street to help the middle class and working class of this country."

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"The American People have saved Wall Street, now is the time for Wall Street to come to the aid of the American middle class."

Sander's plan is the latest – and most aggressive – plan of a Democratic president By 2020, the growing problem of student loan indebtedness in the country.

Sen. Elizabeth Warren, another hope for 2020, announced in April a plan to eradicate existing student loan debt for millions of Americans, according to Warren's plan Individual household debt reduced by $ 50,000 if household income is up to $ 100,000 Higher income would also have the right to high debt reduction, while households earning more than $ 250,000 would not get debt relief for students. 19659003] The former Minister for Housing and Urban Development, Julián Castro, also has a besche ideneren debt relief plan introduced.

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Opponents of these proposals, including some Democrats, are asking why taxpayers should pay subsidies to educate Americans who on average earn more than just a high school diploma.

Proponents, however, argue that student debt has become a major problem for the US economy, including reducing the millennial purchasing power and the inaccessibility of home ownership to many. The student debt burden has risen from $ 90 to $ 1.6 trillion in two decades, and the average college student in the US has $ 29,800 in debt.

"There are currently 45 million Americans with student debt. Omar said on Monday. "That's 45 million people who are barred from buying their first home, 45 million people who feel they can not start a family, 45 million people who dream of opening a business or joining the public sector but are held back. "


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