CNN Says Bernie Sanders Pays for College Debt Wipe-out by Taxing Wall Street ‘Speculation’

EXCERPT:

NOBLES: "Well, Alisyn, this plan will not be cheap. A price tag of $1.6 trillion paid for with a tax on Wall Street speculation. And this idea of taking on radical action to deal with student loan debt crisis is nothing new for Bernie Sanders but this is the first time he's put a tangible plan on paper. Today he’s going to submit legislation that would implement a plan that would cancel every single penny of student loan debt for every American. And there would be no eligibility requirements or income standards. Basically, if you have student debt, this plan would cancel it all. And this is how the tax would work. A 0.5 percent tax on stock trades, a 0.1 percent fee on bonds, and a 0.005 percent fee on derivatives. Sanders believes that would rake in as much as $2.4 trillion over the next ten years. He’s of course not the first candidate to unveil a college debt forgiveness plan. Elizabeth Warren has as well but Sanders goes a step further in two respects. First, this plan is already a piece of Senate legislation with a companion bill ready to be introduced in the House. And second, Warren’ plan has caps on the amount of debt that would be canceled and eligibility would be determined by income level. Now in a statement to CNN, Sanders says in part, quote, 'In 2008 the American people bailed out Wall Street. Now it’s Wall Street’s turn to help the middle class and the working class of this country.'"