The Cost Of College Education

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As the cost of college education continues to rise exponentially year-by-year, politicians are talking about either or not to make it free. Presidential candidates like Bernie Sanders raise the point of making all public colleges free, and others like Hillary just want to end student debt. Making college a free and accessible to anyone sounds like a great idea, in theory, but in the United States it is not so feasible. At least; not the way some politicians plan on making it free. Reasons for which making it free would not work is that in the end, it will be damaging to the U.S. economy. Bernie Sanders wants to raise tax on the rich, the primary source of money in the U.S., but also get most of the money for this program through a tax called “Financial Transactions Tax” or FTT. To put it simply, for every transaction made in the financial markets, the tax will be of one basis point (.01 percent). Doesn’t sound terrible, right? Well not for household traders, but in companies that trade billions each day, that number is drastically larger. Another reason for which this will be damaging is that since all the money funded through this project is from Wall Street, some years could see a drastic shrink in money earned. That ties into the last point that short-term gains are very visible, but in the long run less money will be funneled to this program. So although free college may seem like a worthwhile plan for the United States, the possibility of this plan going into fruition

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