Elizabeth Warren has been out there quietly releasing policy proposal after policy proposal, and many of them have been ignored because the media (and that includes ourselves) is often more preoccupied with the horse race, with who is scoring points on social media, or who is speaking seven languages on a late-night talk show.
Folks, don’t sleep on Elizabeth Warren, and I’ll tell you why: She released a policy proposal this morning that, for millions of people in the United States, would change everything. Here’s the broad strokes, as distilled by Sahil Kapur over on Bloomberg:
— Cancels up to $50,000 in student loan debt for incomes under $250k
— Estimated to fully erase debt for 42 million or 75% of people w/loans
— Free 2- and 4-year public college
— Costs $1.25 trillion, funded by a wealth tax
Holy shit. Can you imagine? I have a lot of student-loan horror stories, and I’m sure that the majority of our commenters do, as well (I know for damn sure that the Overlords do). Can you imagine the relief many of us would feel having $50,000 in student debt wiped out? Can you imagine the relief many of us parents would feel knowing that, at the very least, free public college is on the table for our kids?
And think about how it would trickle down? If we didn’t have to pay $1,000 a month to service our student-loan debt for the next 30 years? We’d buy houses, which would increase construction. More of us could afford health care, which decreases premiums across the board. More people would go to college, which would create more education jobs, give millions of people more job opportunities, increase voter education, enrich our f**king lives. We could more easily pay for a carbon tax, which would not only help the environment but create more green jobs. We could afford solar panels. We could put our kids in good preschools. We’d give more to charity. Unlike the wealthy who invest that money, or buy back stocks, we’d spend the f**king money. It would flow right back into the economy. We’d be more a more educated populace, and strapped with much less debt. It would change our lives.
Getting rid of our student debt is way better than any tax break a candidate could provide. It would immediately stimulate the economy, create more jobs, and increase the quality of life for millions of people. And who would pay? Billionaires, who would have slightly less money than they can spend in their lifetimes.
No policy proposal among any candidate has spoken to me as deeply as this one.
Header Image Source: Getty Images