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Senator Elizabeth Warren's presidential campaign on Friday released an interactive tool to help voters determine how much of their student debt would be lost as part of their ambitious proposal to cancel up to $ 50,000 in outstanding loans for students. graduates from universities.
The online calculator, available on the Massachusetts Democrats campaign website, asks users to answer a few questions about the type of debt they incur and their wages. Then, it generates a dollar amount that would be canceled under the plan.
"Elizabeth's new plan will cancel the debt of more than 95 percent of borrowers – and pay tax on the 0.1 percent of Americans," the website says. "Elizabeth's plan is not a" pie-in-the-sky "idea: it's a proposal that would have a tangible impact on the lives of millions of Americans – and 100% of that amount would be paid by Elizabeth's Ultra-Millionaire Tax. "
Warren, who is one of the top 21 candidates for the Democratic nomination, said his plan would cost $ 1.25 trillion over 10 years and would be paid by a 2% tax on assets greater than $ 50 million and an additional 1% on assets over $ 1 billion. . According to Warren's campaign, this tax would affect 75,000 families and raise $ 2.75 billion over 10 years.
While Warren's plan sparked a lot of enthusiasm, critics, including at least some of his Democratic opponents, have described it as unrealistic, too costly, unfair for people who do not repay their debts and help those who need them. it's less because they've been lucky enough to go to the university.
Lawyer Harmeet K. Dhillon, a political commentator and member of the California RNC committee, wrote in a recent Twitter message that she had consulted Fox News to discuss "Sen. Warren's plan to cancel student loans – a bad idea – in the real context of the problem – why are university degrees so vicious today and why can not students get good jobs to pay back their salaries? ready? Spread the risk!
Laura Krantz from Globe Staff contributed to this report. You can contact Travis Andersen at [email protected]. Follow him on Twitter @TAGlobe.
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