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Use wealth tax to eliminate college debt and pay tuition



  US. Senator Elizabeth Warren speaks on January 12, 2019 at Manchester Community College, NH.

John Tlumacki | Boston Globe | Getty Images

USA. Senator Elizabeth Warren speaks on January 12, 2019 at Manchester Community College, Manchester, NH, USA.

Democratic presidential candidate Elizabeth Warren has found something else that she can finance with her proposed wealth tax: obliterating student debt and tuition at public universities. 19659005] div> div.group> p: first child "/>

The Massachusetts senator, ahead of her rivals in 2020, with detailed plans to reorganize America's economic priorities, presented on Monday her proposal to facilitate access to higher education. It would spend:

  • $ 1.25 trillion over 10 years to eradicate debts from students with household incomes of less than $ 100,000 to $ 50,000.
  • State may report public colleges without tuition
  • more money for non-tuition

The money would come from the annual tax of 2%, which they claim for the accumulation of wealth of more than $ 50 million intends to raise and add 1% for assets in excess of $ 1 billion. Warren justified the connection with the claim that the financing of higher education was slowed for a long time by tax cuts for wealthy Americans and companies.

"It's time to end the experiment, eradicate the mess and make it better," Warren wrote in a mid-size post. "We can make a major structural shift and create new opportunities for all Americans."

Warren's plan would reduce relief for people on an income in excess of $ 100,000 and would end at $ 250,000. She said her proposal would benefit 95% of the 45 million Americans who bore student debt, and 75% would wipe it out. These steps, she argued, would stimulate the economy by improving creditworthiness, boosting home purchases, and facilitating the creation of small businesses.

At the same time, they would cut off state funds from for-profit colleges, which they say "enrich themselves as they target low-income students, service members, and students of color and burden them with debt."

Warren's wealth tax would cost an estimated $ 2.7 trillion over 10 years. She has already suggested spending around $ 700 billion of this money on general childcare and early childhood education. Theoretically, Warren would spend almost a trillion dollars more.


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