BY KOBI AZOULAY
Remember when everyone wanted to grow up? With all the free time in the world, we dreamed of the day when we could ride the adult rides, stay out past curfew, drive ourselves around and be just like our parents.
Fast forward to today and we all want to take that wish back. We reminisce about the days when we did not have to worry about going into debt in order to pay for a college education that we need to find a well-paying job.
We do not need a time machine to solve this problem.
One presidential candidate is demanding we change this process. He wants everyone, regardless of how much money they have, to be able to get a college education without taking on an enormous amount of debt.
That man is Sen. Bernie Sanders (I-VM).
To some people, his idea seems impossible. How could we possibly afford to pay for every qualified American to receive a college education?
Our country is already trillions of dollars in debt, where is the money going to come from?
Sanders has a very straightforward answer to this question: let’s tax Wall Street.
The idea of raising taxes seems to scare people. Many people would be turned off to this idea before even learning the details.
Once you hear the details though, this idea seems like a no-brainer.
His proposed “Robin Hood Tax” would only tax trading stocks by 0.5 percent, bonds by 0.1 percent and derivatives by 0.005 percent.
Right now, the millionaires that work on Wall Street pay absolutely no money in taxes to make their fortune, while middle class Americans pay more than 25 percent taxes on their income.
This small tax could have huge benefits. Congress’s Joint Tax Committee estimates it could raise $352 billion dollars over a 10 year period. Total tuition at all public colleges and universities is about $70 billion a year, so this tax would raise more than enough money.
The benefits of this plan would be monumental. People would not have to gamble taking on debt in hopes of getting a good job. Everyone would have the same opportunity to go to college, regardless of how much money they have.
We would have a smarter country, making us more competitive with the rest of the world.
Germany, France and Sweden are also just a few well-known countries that already offer tuition-free college. If they can do it, why can’t the United States?
Instead of saving up for tuition or paying back student loan debt, people could be putting their money back into the economy. This would be a win-win for American citizens, as well as the American economy.
The only real losers are the speculators on Wall Street, but how much are they really losing? If these taxes of less than one percent can make $352 billion dollars in 10 years, can you imagine how much the speculators are still making?
They will do anything to keep getting richer. Sanders talks about how they hire lobbyists to convince politicians not to raise their taxes. They donate millions of dollars to candidates that will allow them to keep getting richer.
Sanders is opening people’s eyes.
The money for free college, and even healthcare exists, it is the small fraction of greedy people in this country that are keeping it from us.