Contributor Post Created with Sketch. Hold on to Your Wallet: Elizabeth Warren Has an Idea

 

Elizabeth Warren fixed her gaze on the White House the moment she arrived at the US Senate. Today, she’s actually running for the presidency, but it is not going well. Monday morning, a poll out of New Hampshire showed her with just five percent. Residing next door in Massachusetts makes the Granite State a must-win for the senator, yet she trails Bernie, Biden, and Buttigieg by double digits.

You can’t say she isn’t trying. Each week she unveils another progressive plan to win over the woke. Today, she announced not only free college but debt cancellation for most grads. Here are the details:

  • Cancel debt for more than 95% of the nearly 45 million Americans with student loan debt;
  • Wipe out student loan debt entirely for more than 75% of the Americans with that debt;
  • Substantially increase wealth for Black and Latinx families and reduce both the Black-White and Latinx-White wealth gaps; and
  • Provide an enormous middle-class stimulus that will boost economic growth, increase home purchases, and fuel a new wave of small business formation.

And how on earth would she pay for such a thing? An “Ultra-Millionaire Tax” that would slap an additional 2% annual tax on families with $50 million or more. Yeah, I’m sure that’ll work.

Tacked onto this spending spree is her universal free college plan:

  • Give every American the opportunity to attend a two-year or four-year public college without paying a dime in tuition or fees;
  • Make free college truly universal — not just in theory, but in practice — by making higher education of all kinds more inclusive and available to every single American, especially lower-income, Black, and Latinx students, without the need to take on debt to cover costs.

What do you think, Ricochetti: Is this plan sane? And, more importantly for Liz, will it help her foundering campaign?

There are 30 comments.

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  1. RufusRJones Member

    The aggregate return on investment on higher education has hit rock bottom. Time to hit the reset button. Atomize it. 

    • #1
    • April 22, 2019, at 11:12 AM PDT
    • 10 likes
  2. EJHill Podcaster
    EJHill Joined in the first year of Ricochet Ricochet Charter Member

    And we all get to go to the school of our choice, too, correct?

    • #2
    • April 22, 2019, at 11:20 AM PDT
    • 6 likes
  3. Hoyacon Member

    When do we get around to free Red Sox season tickets?

    That might help with the New Hampshire-ites who moved there from Massachusetts to get away from the likes of Warren.

    • #3
    • April 22, 2019, at 11:26 AM PDT
    • 5 likes
  4. Front Seat Cat Member

    That has to stick an arrow into the coffers of all the big universities and colleges throughout New England, where tuition is among the highest – they take in some big bucks – including constant fundraisers and alumni donations. I don’t see this idea being popular – she is really throwing out some Bernie bait to get some interest in her run….

    • #4
    • April 22, 2019, at 11:26 AM PDT
    • 2 likes
  5. EJHill Podcaster
    EJHill Joined in the first year of Ricochet Ricochet Charter Member

    Maybe this is a silly question, but what does this do to the business model of the NCAA? If college is “free” what is the recruitment tool?

    • #5
    • April 22, 2019, at 11:26 AM PDT
    • 3 likes
  6. Hoyacon Member

    EJHill (View Comment):

    Maybe this is a silly question, but what does this do to the business model of the NCAA? If college is “free” what is the recruitment tool?

    Well, there’s always good ol’ hard cash. It’s worked before.

     

    • #6
    • April 22, 2019, at 11:30 AM PDT
    • 3 likes
  7. RufusRJones Member

    EJHill (View Comment):

    Maybe this is a silly question, but what does this do to the business model of the NCAA? If college is “free” what is the recruitment tool?

    The NCAA is a [redacted] fascist crime syndicate. 

    • #7
    • April 22, 2019, at 11:33 AM PDT
    • 2 likes
  8. Vance Richards Member
    Vance Richards Joined in the first year of Ricochet Ricochet Charter Member

    Some people will have wealth taken from them so Warren can give it to others? How much free stuff you get will vary based on race (will there be DNA testing to decide who is Black or Latinx enough?). Free college will be “truly universal”. Does that mean regardless aptitude, IQ, or even a desire to go to college?

    What could go wrong?

    • #8
    • April 22, 2019, at 11:40 AM PDT
    • 8 likes
  9. EJHill Podcaster
    EJHill Joined in the first year of Ricochet Ricochet Charter Member

    I’m being serious here. Everything the NCAA has done that has been upheld in the courts when challenged is based of the value athletes receive by getting that “free” ride. 

    • #9
    • April 22, 2019, at 11:44 AM PDT
    • 1 like
  10. Vance Richards Member
    Vance Richards Joined in the first year of Ricochet Ricochet Charter Member

    Among some of the other details on her site . . .

    Prohibit public colleges from considering citizenship status or criminal history in admissions decisions.

    • #10
    • April 22, 2019, at 11:52 AM PDT
    • 2 likes
  11. JamesSalerno Coolidge

    And yet none of this solves the supply/demand issue. There are only so many jobs that require college education. Sending too many people to college is how we got here in the first place. 

    • #11
    • April 22, 2019, at 11:54 AM PDT
    • 9 likes
  12. RufusRJones Member

    Central planning is worthless. 

    • #12
    • April 22, 2019, at 11:55 AM PDT
    • 3 likes
  13. RufusRJones Member

    JamesSalerno (View Comment):
    There are only so many jobs that require college education.

    There are only so many classes that relate to work productivity, too. 

    The whole thing needs to be rethought. Complete overhaul. 

    • #13
    • April 22, 2019, at 11:57 AM PDT
    • 5 likes
  14. DonG (skeptic) Coolidge

    Her wealth tax requires a change to the Constitution. I bet it will be hard to convince the wealthy people of 38 states to favor giving their money to college deadbeats.

    People live in New Hampshire, because they hate living with the progressive idiocy of neighboring Massachusetts.

    • #14
    • April 22, 2019, at 12:04 PM PDT
    • 2 likes
  15. Western Chauvinist Member
    Western Chauvinist Joined in the first year of Ricochet Ricochet Charter Member

    RufusRJones (View Comment):

    Central planning is worthless.

    It’s worse than that. It’s actively destructive.

    • #15
    • April 22, 2019, at 12:05 PM PDT
    • 6 likes
  16. Western Chauvinist Member
    Western Chauvinist Joined in the first year of Ricochet Ricochet Charter Member

    I think Warren is toast. She once had a chance as the native demagogue of female persuasion, but now she’s just looking desperate. Bernie wins the authenticity race (authentic communist, but whatev). Biden wins the goofy uncle Joe contest with added cred for working in the Obama administration (Ugh. Ack!). Buttigieg wins the reasonable gay Christian (Lite) race. Liz has nowhere left to go.

    Still, I hope she doesn’t drop out too soon. The more clowns in the clown car, the more fun for us! 

    • #16
    • April 22, 2019, at 12:11 PM PDT
    • 6 likes
  17. RufusRJones Member

    Self defense is a clear natural right recognized by the Founders. Free guns for everyone!

    I just got that from Howie Carr LOL.

    • #17
    • April 22, 2019, at 12:46 PM PDT
    • 6 likes
  18. MarciN Member

    Vance Richards (View Comment):

    Among some of the other details on her site . . .

    Prohibit public colleges from considering citizenship status or criminal history in admissions decisions.

    I guess this will be a change in Harvard’s policy:

    Gina Grant (born 1976) is an American woman who gained notoriety for receiving early admission to Harvard University, only to have it rescinded when it became known that she had killed her mother and had omitted this fact from her college application.

    Of course, her admission may have been rescinded only because she omitted her history from her application, not because she killed her mother. :-)

    • #18
    • April 22, 2019, at 1:44 PM PDT
    • 4 likes
  19. Fastflyer Member

    Free stuff! Yeah!

    • #19
    • April 22, 2019, at 4:10 PM PDT
    • 1 like
  20. Metalheaddoc Member
    Metalheaddoc Joined in the first year of Ricochet Ricochet Charter Member

    I don’t get how “free” college will work. Does the school get to send a bill to the Fed for the full amount of tuition? Not likely. The Fed still has to control costs. More likely that the Fed will tell the schools they get $1000 per student per semester. Then class sizes balloon. Professors won’t teach, you’ll get a TA. The quality will drop and the degree will be useless. A BA won’t be worth much more than a high school diploma. Then a Masters degree (not free!) will be the entry level for real jobs. Free public college will be as nice, clean and wonderful as a free public toilet.

    • #20
    • April 22, 2019, at 4:24 PM PDT
    • 3 likes
  21. Sweezle Member

    We can’t afford Pocahontus. She should have stopped with healthcare and adopted some sound capitalist solutions. 

    • #21
    • April 22, 2019, at 9:07 PM PDT
    • 1 like
  22. tigerlily Member

    Jon Gabriel, Ed.:

     

     

     

     

     

     

     

     

     

    And how on earth would she pay for such a thing? An “Ultra-Millionaire Tax” that would slap an additional 2% annual tax on families with $50 million or more. Yeah, I’m sure that’ll work.

    Tacked onto this spending spree is her universal free college plan:

    • Give every American the opportunity to attend a two-year or four-year public college without paying a dime in tuition or fees;
    • Make free college truly universal — not just in theory, but in practice — by making higher education of all kinds more inclusive and available to every single American, especially lower-income, Black, and Latinx students, without the need to take on debt to cover costs.

    That wealth tax has it’s work cut out for it. According to Warren, in addition to college debt forgiveness and universal free college, it also is supposed to pay for her universal child care plan (whatever that is) and free preschool. Of course, we’re already broke with all our existing entitlement obligations and there’s not enough money in the world to pay for her slate of new “free stuff”, but what the hey, there’s an election to win.

     

    • #22
    • April 22, 2019, at 10:21 PM PDT
    • 2 likes
  23. Songwriter Inactive
    Songwriter Joined in the first year of Ricochet Ricochet Charter Member

    Elizabeth Warren is certifiably unhinged. The fact that she has been elected to the Senate is truly frightening.

    • #23
    • April 23, 2019, at 6:30 AM PDT
    • 2 likes
  24. Full Size Tabby Member

    tigerlily (View Comment):

    Jon Gabriel, Ed.:

     

     

     

     

     

     

     

     

     

    And how on earth would she pay for such a thing? An “Ultra-Millionaire Tax” that would slap an additional 2% annual tax on families with $50 million or more. Yeah, I’m sure that’ll work.

    Tacked onto this spending spree is her universal free college plan:

    • Give every American the opportunity to attend a two-year or four-year public college without paying a dime in tuition or fees;
    • Make free college truly universal — not just in theory, but in practice — by making higher education of all kinds more inclusive and available to every single American, especially lower-income, Black, and Latinx students, without the need to take on debt to cover costs.

    That wealth tax has it’s work cut out for it. According to Warren, in addition to college debt forgiveness and universal free college, it also is supposed to pay for her universal child care plan (whatever that is) and free preschool. Of course, we’re already broke with all our existing entitlement obligations and there’s not enough money in the world to pay for her slate of new “free stuff”, but what the hey, there’s an election to win.

     

    Apparently Warren hasn’t heard any of the numerous people who have pointed out that even confiscating all the wealth (not just 2% per year) of the wealthiest people in the United States would not generate enough revenue for the government to fund even a fraction of the cost of only some of the programs she proposes. 

    • #24
    • April 23, 2019, at 8:11 AM PDT
    • 2 likes
  25. Full Size Tabby Member

    Vance Richards (View Comment):

    Some people will have wealth taken from them so Warren can give it to others? How much free stuff you get will vary based on race (will there be DNA testing to decide who is Black or Latinx enough?). Free college will be “truly universal”. Does that mean regardless aptitude, IQ, or even a desire to go to college?

    What could go wrong?

    Offering free college is destructive for those who should not go to college. “Free” college incentivizes people to go to college even if (based on their capabilities, aptitudes, and interests) those four years would be better spent apprenticing in a trade, starting a new business, doing some other “hands on” learning, or doing something else.

    In other words, universal “free” college is cruel to a large portion of the population because it encourages young people to waste time doing something for which they are unsuited.

    Edit to add that during the time the person is wasting time attending college for which the person is unsuited, someone (the young person? the young person’s family?) is paying for living expenses, so they are wasting money as well as time.

    • #25
    • April 23, 2019, at 8:19 AM PDT
    • 2 likes
  26. RufusRJones Member

    No accreditation. No government finance. Problem solved. 

    • #26
    • April 23, 2019, at 8:24 AM PDT
    • 1 like
  27. Full Size Tabby Member

    Vance Richards (View Comment):

    Among some of the other details on her site . . .

    Prohibit public colleges from considering citizenship status or criminal history in admissions decisions.

    Presumably the criminal history element is part of the concern that a higher percentage of blacks have a criminal history, and the naive think that filtering for a criminal history is a way to engage in race discrimination. But, in the employment area, researchers are now finding that more race discrimination goes on when employers are prohibited from inquiring about criminal history. The theory I have heard is that if an employer can’t inquire about a specific individual’s criminal history, the employer is left working off statistics, which is that there is a higher probability that a black applicant has a criminal history than does a white or Asian (or to some extend hispanic) applicant, so it’s safer to hire the white or Asian. 

    So prohibiting colleges from considering citizenship status or criminal history may produce a result opposite of the stated intention.

    • #27
    • April 23, 2019, at 8:27 AM PDT
    • 1 like
  28. JoelB Member

    When did the term “Latinx” become a thing and how is it pronounced? La-teen-ex, La-teen-hih (as in Meh-hih-co), something else?

    • #28
    • April 23, 2019, at 12:24 PM PDT
    • 4 likes
  29. RufusRJones Member

     

    https://twitter.com/OccupyWisdom/status/1120818503899144192

    • #29
    • April 23, 2019, at 3:40 PM PDT
    • 2 likes
  30. TBA Coolidge
    TBA

    Songwriter (View Comment):

    Elizabeth Warren is certifiably unhinged. The fact that she has been elected to the Senate is truly frightening.

    She’s not unhinged; she is divorced from reality, and currently trying to hook up with other divorcees. 

    • #30
    • April 23, 2019, at 5:33 PM PDT
    • 2 likes

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