Bernie Sanders may be socialist, but he’s not stupid.
After narrowly losing the 2016 Democratic nomination to Hillary Clinton and now trailing Joe Biden in a 2020 bid, Sanders announced a plan to give billions of dollars in free stuff to the Democratic Party’s base.
His “free college” plan is pitched as a means of providing free education to all, but in reality it’s a scheme to loot the poorest majority of Americans to provide free cash to a small and radically liberal sliver of elites.
“Sanders will fund his student loan forgiveness plan through a new tax on financial transactions, which he expects could raise more than $2 trillion over the next 10 years. The tax plan will include a 0.5% fee on all stock trades, a 0.1% fee on all bond trades and a 0.005% fee on all derivatives trades,” Forbes reports.
That sounds like a way of soaking the rich “1%” and giving it to the “99%” — until you look deeper into the numbers.
What Sanders doesn’t mention is most stocks are held by the working class, in retirement and pension accounts. Most of them did not attend college and many are in these retirement plans because they worked a skilled trade.
In other words, Sanders’ plan steals from the poorest, specifically those who worked their entire lives in middle-class jobs to save what is likely not enough for retirement.
But all that money is going to the poor, right?
Only 33.4 percent of Americans older than 25 have a bachelor’s degree or higher, and that’s an all-time high.
A survey by Payscale finds a stunning 66 percent of college graduates regret getting a degree, with many reporting they felt it was a waste of time or did not help them get a job.
So why is Sanders proposing a $2 trillion dollar tax hike to give something to only 33 percent of Americans, two-thirds of whom regret getting it?
It’s a vote-buying scam.
While college graduates may be a minority of the population, and those with a post-graduate degree an even tinier sliver, the educated elites make up a major chunk of the Democrat political base.
While college graduates are only a third of the population, they made up 50 percent of those who voted in the 2016 presidential election between Hillary Clinton and Donald Trump. College graduates supported Clinton by a 52 percent to 42 percent margin, while those without a degree backed Trump by a 51 percent to 44 percent margin.
Among those with a post-graduate degree the divide was even starker. They made up 18 percent of the electorate, but broke for Hillary Clinton by a 58 percent to 37 percent margin.
In other words, people who go to college are likely to vote Democrat, and very likely to show up in a primary election to vote for someone offering them a truckload of free cash.
By offering to give $2 trillion in free cash to a group of elites that swarm the polls to vote Democrat, Sanders is engaging in a massive transfer of wealth from the poor to the rich — all to buy himself some votes.
And by looting the cash from middle-class retirement accounts, Sanders is stealing from his political opponents. Clinton was backed by voters making less than $50,000 a year, and by those making more than $200,000 a year. Voters making between $50,000 and $200,000 — the middle class — backed Trump.
They’re the ones paying Sanders’ giveaway program, making it the perfect socialist program — punish your enemies, reward your allies and use government to buy an election result.