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Bernie Sanders proposes to eliminate $1.6 trillion in accordance with student loans

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Bernie Sanders proposes to eliminate $1.6 trillion in accordance with student loans

The most revolutionary bill passed by the US Senator Bernie Sanders on Monday is to tackle major plans. This bill will sweep away the growing price of education and loans. It plans to cancel all the student loans and will make higher education, tuition fees free. Though a similar plan introduced previously by Senator Elizabeth Warren to cut shot most of the loans and debts.

Bernie Sanders plans to vitalize the cost to paying Wall Street speculations

During the conference, Sanders spoke out the plan through which student loans are taken by 45 million US citizens. The amount counts to 1.6 trillion US dollars.

However, it will not discriminate the plans either for private or government school debts. As the cost is high, the eliminated amount will be paid through the Wall Street speculation taxing system.

Bernie Sanders proposes to eliminate $1.6 trillion in accordance with student loans

Credits: ABC News

Bernie Sanders main motive is to remove college and tuition fees, though the new plan seems to get into any criticism. Many critics argue as the plan won’t be able to recover from the Wall Street new taxing system.

They also claim to provide the money directly to the US poverty line. This proposed system from the senator can be paid from 0.5 per cent on trading stocks and 0.1 per cent on bond taxes.

Warren also planned to eliminate loans a year ago

Senator Bernie Sanders tried to use the reset button by introducing the student loan wavier. His statements are bold and clear as he mentioned about low wages in jobs and restricting students from getting higher educations. As mentioned all the student loans will be cleared within six months from proposing the plans.

Bernie Sanders proposes to eliminate $1.6 trillion in accordance with student loans

Credits: Fox 13

Previously, Bernie Sanders also proposed a plan “college for all act” in which families earning below 125,000 US dollars will be waived in their tuition fees. Moreover, Warren’s plan incurs a little stiffy from the latest plan by Bernie Sanders. Warren’s plan will cut $50,000 for families earning below $100,000 and there will also be cut for families who earn 250000 US dollars.

In the last note, Bernie Sanders vitalizes that everyone will be benefited from the proposed plan of students loans. While during this elimination, wealthy people don’t get wealthy in another way. It means that the demand is optimized and people who earn a lot shouldn’t hesitate to give the taxes as a fair means.

For more updates, stay tuned to BlockToro.

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