You will soon pay 50% of your income in taxes

To combat that, Sen. Bernie Sanders (D-Vt.) and Rep. Pramila Jayapal (D-Wash.) proposed on Wednesday the largest student loan cancellation and free college plan in modern history: the College for All Act would:

  • Would make community college and trade schools free to everyone
  • Make public four-year colleges and universities tuition-free for all students from families earning less than $125,000 a year
  • Double the Pell Grant to almost $13,000

Source: Lawmakers propose massive student loan cancellation and free college plan | NewsNation Now

It’s great to talk about “free stuff” and turning the U.S. into a fantasized version of Denmark, but the bill will come due. In Denmark, wage earners pay 40 to 70% of their income in taxes. None of the promoters talk about how we will pay for this.

We also neglect that university tuition is free (And students paid to attend!) in Denmark because the pay differential between college grads and those not going to college is minimal, combined with a shortage of youth in their demographics. Even with that, a smaller percentage of Danes are college graduates than in the U.S.