Barbarian at the Gates: How Bernie's brilliant economic stimulus can divide the capitalists and win the elections

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    • #81240
      Ohio Barbarian
      • Total Posts: 21,911

      Bernie Sanders recently announced legislation that not only makes public colleges free for all, but waives all student loan debt and pays for it by a pittance of a tax, of half a percent on stocks and 1% on bonds, on all Wall Street transactions. The tax is a very Social Democratic one that’s been around in Western European democracies for decades, and would easily raise more than enough to pay for both of Bernie’s goals. It’s a brilliant plan.

      Waiving all student loan debt will free 45 million Americans, mostly millennials but there are a few million Xers and Boomers in there as well, from debt servitude for the “crime” of trying to obtain a higher education so they could have a shot at the American Dream they were promised. A promise that turned out to be a lie, all for the profit of lenders who didn’t do one gods-damned productive thing for the nation in return.

      For most people affected, the waiver will free up several hundred dollars a month for them to spend on other things, such as housing, cars, appliances, dining out, playing tourist, buying clothes; the list is endless. Others, like my wife, will now be able to look for a job if they wish without fear of their wages being garnished or their tax refunds seized. Others like myself who have no outstanding loans may see our adult children actually go to college, and maybe even be able to afford moving out of the guest bedroom or the basement.

      In short, the economic effect of the student loan waiver is incalculable to me, but I’m sure it, to use a Trumpism,  is bigly tremendously HUGE!

      Already there is a Me Too! movement of sorts starting on the Internet of people telling their stories about how crushing student loan debt is fucking up their lives. This should only grow. Before long, it will catch the attention of large capitalist industries that would reap the rewards of 45 million people being able to spend several hundred more dollars a month. Real estate, hospitality, insurance(kinda hard to buy homeowner’s insurance if you don’t own a home), automotive, retail, restaurant, tourism, construction will all massively benefit, not to mention the prospect of more sales and property tax dollars going to things like school districts and highway budgets. Talk about a stimulus package! Dubya, Obama, Trump; none of them had anything that is in the same league as Bernie’s plan.

      How long will it be before the corporations and small business groups that make their livings off of all of the above and more start thinking about it and throw their support to the candidate who will try his damndest to deliver on his promise if elected? A lot of them may be Republican or Libertarian, but so what?

      This could lead to a political landslide. First the Vichy Dems, and then Trump and the Republicans, may be about to get a classic application of one of my father’s favorite sayings:

      Money talks and bullshit walks.

      This could be a beautiful thing.

      It is better to vote for what you want and not get it than to vote for what you don't want and get it.--Eugene Debs

      You can jail a revolutionary, but you can't jail the revolution.--Fred Hampton

    • #81245
      • Total Posts: 589

      the wall street transaction tax is long overdue, but will be opposed with every lobbyist dollar the bonus banksters can shovel into congress.

    • #81249
      • Total Posts: 332

      Yeah, but to too many of them it’s “socialist.”  Sadly they don’t want to open their eyes. Still, hope springs eternal that enough people will see the real possibilities in this to get off their asses and vote.  It really is “the mother of all stimulus packages.” And it’s time Wall Street does something for us for a change.

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