Back in April, Elizabeth Warren proposed wiping out the first $50,000 of student debt for anyone with a household income below $100,000 a year. That would be a very real boon to poor, working- and middle-class Americans (especially those who took on debt and never completed their degree), albeit at the nothing-to-sneeze-at cost of $1.25 trillion over 10 years.
Not to be outdone, Bernie Sanders just thunked down a still bigger, pricier idea: Wiping out all student debt. No income limits, no caps. Cost: $1.6 trillion over 10 years.
So taxpayers, in this case people who buy and sell stocks, wouldn't just take the edge off the monthly bills of overstretched families, but would cushion the bank accounts of doctors, lawyers and investment bankers who borrowed to go to school and are making a perfectly healthy living, thank you very much.
Since when is that progressive?
