Now, of course this is not just a strategy. This is a bill which will give debt relief to about 45 million people, the promise of a better college education for countless millions of people, some still children, some not yet born, and a big stimulus to the economy, and Bernie has always been about helping the people.
But, I think it’s also brilliant strategically, and he may have just won the election. 45 million Americans is the estimate I saw of how many Americans hold student debt. Most of them will now vote for Sanders. Even if someone only owes 5 or 10,000, having that slate wiped clean would help them a lot, and they’d probably be willing to say “You know, he’s not really that old” and jump right on the old bandwagon. Might even bring a few of their relatives and friends on board, too.
So, we’re up to 60, 70 million voters right away. New voters, some of them.
He has clearly explained how he’s going to pay for it, which is part of the beauty of Bernie Sanders. He explains these things, his plans are simple, and they make sense. Elizabeth Warren also has a plan, but it only covers people under a certain income level, and doesn’t do away with the debt entirely, and it’s not nearly as easy to explain, or understand.
How he’s going to pay for it is a transaction tax on Wall St. 0.5% So, if you buy $100 worth of stock, you pay a 50c tax. If you buy a million dollars worth of stocks, you pay a $500 tax. It’s still reasonable. It’s not going to break anybody. And, if it slows down the rate of trading on Wall St., maybe that’s a good thing, too.