When Bernie says that his scheme to subsidize college for people who make more money than I do, involves a “small charge on Wall Street speculation”.
What this means is that people like me, who’ve managed to invest some money for my retirement, are going to have fees added to our investments. I guess tapping my retirement for this scheme seems like a good idea to someone,
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It means that people who have enough money to invest are benefiting from having a better educated Society. Why wouldn't they pay to support a better educated society that helps everyone? That's sort of the point of common taxation.
And it's why a progressive tax scheme makes the most sense. Those who have benefited the most, pay the most. As it should be. Makes sense to me. Please, please, tax me at a higher rate than those who make less money than I do. I do not want to be part of oppressing the poor or benefiting off of the poor.
1. My being able to save and invest to take care of my own retirement, in absolutely no way oppresses the poor. The reality is that every dollar I have invested has already been taxed multiple times, and will likely be taxed at least once more.
2. Making the argument that going to college automatically makes one better educated is a specious argument. Further education for the sake of education has virtually zero value. Especially when you spend hundreds of thousands of dollars for said education. Are you familiar with the acronym ROI? If you need someone to bail you out because your degree is worthless, then you made a bad investment.
3. Will my family be compensated for the thousands of dollars we spent so the we could minimize the amount of debt that was taken on?
4. Why burden those who paid for college, or chose alternatives to college, to subsidize those who were irresponsible?
5. By what standard is it progressive taxation to tax my, already taxed, investments in order to provide loan forgiveness to someone which a larger income/more wealth than I have?
In the absence of a conversation about the absurdity of the costs of higher education, the role the federal government plays in driving up those costs, and the false narrative around the value of a college degree (in a general sense), this is purely an attempt to buy votes.
Even with all that. The point of the post is that Bernie is being incredibly misleading in his characterization of this potential new fee (he doesn’t even have the balls to acknowledge that it’s a tax), and that “rich Wall Street speculators” really means virtually everyone with a retirement account.
FYI. My family has and is paying the debt that we knowingly and willingly took on. We don’t need to pay yours.
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