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The centrist argument against Sanders’ student loan plan is getting ripped apart
Centrist think tank Third Way has really done something special on their Twitter account.
The account achieved truly one of the wildest Twitter ratios I’ve ever had the good fortune of witnessing. A recent tweet from the account garnered about 4,700 replies while only raking in just below 400 likes.
Free college for all IS regressive. Blanket debt forgiveness could actually increase inequality: https://t.co/YpT2D9kuJE— Third Way (@ThirdWayTweet) June 24, 2019
The tweet links to a piece on Third Way titled “Why Free College Could Increase Inequality” that was written as a response to a plan unveiled on Monday by 2020 hopeful Bernie Sanders. The plan puts forward a law that would entirely erase the crushing student loan debt affecting millions of people in America.
The plan was co-authored by Rep. Ilhan Omar (D-Minn.) and Rep. Pramila Jayapal (D-Wa.). It includes the details that it will entirely “cancel all $1.6 trillion in existing student loan debt and make public colleges and universities tuition and debt free.”
Student loans are a scam.— Alexandria Ocasio-Cortez (@AOC) June 24, 2019
That’s why I join @BernieSanders, @RepJayapal & @IlhanMN to forgive ALL student loans AND make colleges tuition-free.
PS: for the cost of the GOP tax scam (~$2 TRILLION), we could’ve already forgiven every student loan in America w/ billions left over. https://t.co/GXRHHWoKai
Third Way describes itself as an organization that is constantly “fighting for opportunity, so everyone has the chance to earn a good life.”
Many of the critics of Third Way’s tweet and their response to Bernie’s #CancelStudentDebt plan really don’t seem to agree. Third Way has been getting absolutely lambasted on Twitter for putting out this piece and as #CancelStudentDebt continues to surge, the dunks on Third Way’s line of thinking are as well.
False.— Bill Neidhardt (@BNeidhardt) June 24, 2019
The bottom 80% hold $1.1 trillion of the $1.6 trillion total student debt. How much of this proposal goes to the top one-tenth of one percent? Nothing.
Not to mention it will cut the racial wealth gap by *more than half* for young households. #CancelStudentDebt https://t.co/04xvAUEMgs
Looking forward to Third Way's next bold take that feeding people causes starvation. https://t.co/HIdIobJGf3— Nate's Liver 🍩 (@SilERabbit) June 24, 2019
Guys, can any of you upgrade into just lobbying directly for Wall Street firms?— Michael Brooks (@_michaelbrooks) June 24, 2019
Some criticisms have been more juvenile yet just as cutting.
Turd Way Tweets— Will🦕Menaker (@willmenaker) June 24, 2019
Additionally, the Sanders campaign has released a debt calculator to mirror the online tool that Elizabeth Warren released when she recently unveiled her plan to alleviate the national student loan debt.
If you’re getting crushed by student loan debt, there’s a good chance our new bill will help. Use my calculator to see how much of your debt would get canceled under the Warren-Clyburn proposal: https://t.co/5ii8O6kr2U #CancelMyDebt— Elizabeth Warren (@ewarren) June 18, 2019
So what’s the formula for Bernie’s debt calculator? Well, take the current amount you owe in student loans, multiply it by the percentage that New York Mayor Bill de Blasio is currently polling at and you’ll end up with how much you’ll owe if the plan comes to be: $0
(Hint: Multiplying any amount you owe times 0 will always net you $0 as your new debt amount).
Oooooh AND NOW it’s real:https://t.co/G8svDvYVil— Michael Fasullo (@MeetMichael_) June 24, 2019
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Ignacio Martinez is a journalism student at the University of Texas at Austin and an intern at the Daily Dot. His work has appeared in the Texas Observer and on the airwaves at KVRX 91.7 FM.