Senator Elizabeth Warren has come up with another big giveaway at the expense of taxpayers.24/7 News Source reports that Senator Warren wants to use her proposed wealth tax to wipe out student debt and pay public college tuition. The Massachusetts Democrat who's running for the party's presidential nomination rolled out the proposal this morning.
Warren's plan proposes spending one and-a-quarter trillion dollars over ten years to wipe-out as much as 50-thousand dollars in student debt for household incomes below 100-thousand dollars. It would allow states to make public colleges tuition-free and spend 100-billion dollars to expand Pell grants.
Where would all of this money come from? Senator Warren would get the money from a two-percent annual tax on accumulated wealth of 50-million dollars or more.