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less leopold wrote eight great article for alternet where he argues that the
financial sector should paint
all the costs for our private colleges any public colleges okay so ob students
who wish to attend public colleges and universities should be able to go
tuition free
and the financial sector would pick up the tab now how does he propose that
they do this thinks that it makes sense to charge a financial financial
transaction tax
okay so every time there's a transaction in the financial sector every time
there's a trade derivatives they pay like a small the fort it's a tiny tiny
percentage
look when i first saw the headline i thought
there goes the whole lives again
and labor interviewed last season condenser
by the come on really all of the public colonies at universities
poorly free
and he was going to pay for it by getting it from the bank straight
but when you do the numbers on it is less than it actually sounds tolley
realistic now first of all
his we have to understand
this is not some crazy thing that's never done anywhere in the world
in europe i see a lot of the colleges universities
are for this is happening right now an inland out that's why up a lot of the
colleges and universities are capped at five thousand dollars year intuition
that's the most that they pay which blows my mind five thousand dollars
here's what we pay in the u_s_ for textbooks yet no it's unreeled
and right now there's more
it
college that debt
then there is
credit card debt in the united states resident and leasing number right
now and so
outside of england in the rest of europe is even more free at universities in us
but there is alot so enormously important pro-democracy is because that
at least gives you quality of opportunity not result in opportunity
that's exactly what we need in democracy that's how much you would cause i didn't
know this hisses right now we're only cost fifty billion
buddy says if you make it for me
well that more people will come right but then you create more jobs
universities they would spend
and hope and that will probably help our economy tremendously late in the long
run
within the it would actually probably double the cost about a hundred billion
out right when i saw that number i easily note was doable because his right
the financial transaction tax with easily resolved rebellion soon
and something about that for a second we don't have that tax
it look for example does have that tax
partners we don't have that tax
is this martin bought politicians here in the united states
say if we get that
the bankers would flee now have a fleet
or fled it should stay in
there's still a word they have that tax aniket
so they didn't go to somalia they didn't go anywhere else
to do with it even come near acting
so could we get the attacks absolutely
and i think about that
look at redistribution of wealth
where right now the top bankers that tiny tiny percentage of people
yet the keypad a hundred billion dollars
and the rest of us do not get that equality of opportunity
i got to where i am today because my dad receive the free education
that was back in turkey
we would have never we'd be on a farm in southeastern turkey right now picking up
saturday
and my dad didn't get a free as a fish
that's what's great about democracy that's was right about equality often
but the bank was in this country don't want you to have that opportunity they
ought to give that extra hundred billion dollars spread out among how many people
ten people
two hundred people maximum a couple thousand people
they have more yachts more matches cause it's never enough
and by the way of being that the financial transaction password to
is that you would leap limit
risky trade
because it would be a disincentive touristy trade which were also be
terrific for con
and now that is going to happen because
what the rest of world is not a fan is how incredibly corrupt the united states
political systems
is the same bankers bought our published
as i was reading this article i was fantasizing
like in this article got me excited right and i was thinking to myself on my
god this is still doable it's so easy why can't we do is steve baker also
wrote about it you know avec top economists are a say that this is not a
difficult thing to do in fact we've seen this in nineteen forty four with the
g_i_ bill that's a great point yacht with the g_i_ bill so people who came
back from world war two
i'd they were worried that it desire soldiers would ed and that jobless it
would end up homeless so what they ended up doing is they paid for their
education so they can go to school for free they can get educated and then go
out and find great jobs and why is it that we can do this now why is it that
england can do it but we can do it now it doesn't make any sense all right now
i know you need numbers we have excessive
meas okay
the g_i_ bill let
double the number of college degrees between nineteen forty in nineteen fifty
because it was free education they would get about five million dollars
and at the time even harvard only cost four hundred dollars intuition
so it was free education basically for everybody
they came back as you know straight
it creates seven-point eight million
college grads now what was the economic impact of that is really important
well because in twenty ten dollars seventy billion dollars
well it turns out that uh... eric
committed to economic committee that allison idvd
said that
it resulted in the extra one hundred and twenty billion dollars
and federal tax records
so just that'll are already paid for self but on top of that
also produced three hundred and fifty billion dollars
in extra national output
so far every dollar that was invested in the g_i_ program
the economy got back six dollars and ninety cents
so when we invested in the education
of our youth
seven dollars for every dollar of that investment
is great embroidered mess that are what make this country great that's why we
became number one
certainly part of the reason why we became a role
what are we done
we've forgotten all of those lessons
and instead what we do is
we say no let's give as much as possible
for the very rich just
and hope that at some point the might trickled out