Here is the truth tuition free college: It makes total economic sense. First, graduates, like many veterans with the GI Bill, come out of college debt free. What does this mean to the real economy? Well it frees up capital, that would have been spent paying back loans, that is spent in the real economy. The one you and I live in. People spending money, not tax cuts to the rich, actually create jobs. Secondly, you have highly educated work force that will create new businesses and technologies; which creates jobs; which turns to more spending and tax revenue which pays for college tuition.
Then, the question of how do we pay for it? Well those people are going to go out and get jobs, make money and spend money. This money will be taxed. Thus paying for itself. This is why the GI Bill doesn’t cost the tax payer money. And that is why it makes economic sense.
Now who would be against this? Very simple: Wall St. You see banks give out student loans and tact on high interest rates that the students have to pay back. This is money that is not being spent in the real economy. This is houses that are not being bought. This is jobs that are not created.
Notes from outpost 187 