sander s will take place in the united states capitol. sanders is about to submit legislation that will call for the complete cancellation of every penny of student loan debt across the country. that is $1.6 trillion. it could impact 45 million americans. it has broad implications across the board and of course the next big question is, how do you may for something like this? sanders has a plan for that as well. he wants to institute what he is calling a wall street speculation tax. basically, three different types of tax on wall street trades and derivatives that he believes could raise as much as $2.4 trillion over the next ten years. what sanders wants to do is take all of that money, cancel every person s student loan debt and also set the stage to allow for free college tuition at public universities and community colleges. this is a big deal, a big plan on sanders part. it is also a part of a proder attempt for him to stave off elizabeth warren as she is surging in the polls.
on the must-pass bills. like never before store. that s not infrastructure, and that s not, you know, other the xfinity store is here. maybe deals that they want to and it s simple, easy, awesome. pass, but on the budget caps and on spending deals, it looks like the president will still be talking to democrats. was it a mistake, just to put yourself in the president s shoes, was it a mistake for nancy pelosi to accuse him of a cover-up, which is ramping up the rhetoric out of her mouth, not everybody s mouth, but out we re back and we re following all the fallout of of her mouth, minutes before she goes to the white house? president trump shutting down a meeting with congressional i don t know if it was a democrats after the speaker of mistake. the house said she thinks trump if the president could have is involved in a cover-up. said, it s not true, and then he now the question is, what could have gone ahead. but you know what, i m going to happens next? and joining me now is de
this country, regardless of their income who has the desire and the ability can get a higher education, college or trade schools. but it will also go a very, very you ever wish you weren t a motaur? long way in reducing the sure. sometimes i wish i had legs like you. outrageous burden. man, i see it all over this country. young people graduating from yeah, like a regular person. college $50,000 in debt, 100,000 no. still half bike/half man, just the opposite. in debt. you saw the response that took oh, so the legs on the bottom and motorcycle on the top? place at morehouse college, where these kids could not believe that they would not be having to pay off student debt for decades. that s what we have to do all yeah. over this country. yeah, i could see that. now, the legislation that i am for those who were born to ride, there s progressive. offering would raise $2.4 trillion over a ten-year period at time when wall street profits are now at record-breaking levels. we re talking about
this would work. for stocks, tax rate is 5%. for bonds, the tax rate would be a 0.05%. for derivative would be 0.05%. lawmakers estimated it would bring in $220 billion revenue in if first year and $2.4 trillion over ten years. it would affect some lower and middle class families. that s why the sponsors say they included a tax credit for single filers making up to $50,000 and married couples with income up to $75,000. the tax would be in addition to fees already charged on financial transactions. the security and exchange commission imposes a fee of $20.70 per $1 million in stock
to do a transition. i m wondering is this to prevent, you know, unrest in the country? because, at some point, if these jobs are taken away, and robots and, you know, ai and all of this takes over, are you trying to sort of apiece the country with money? well, if you look at our life expectancy it s declined for the last three years because of surges in suicide and drug overdoses. a lot of that is happening in communities that have lost manufacturing jobs. so, if you project that happening to truckers in the next 10 years, there are 3.5 million americans who drive a truck for a living right now. and if you think that they would take losing their livelihood very easily or gently then you probably live in a different country than i do. martha: it s $2.4 trillion annually. and i know you have been asked before, you know, how are you going to pay for it you? believe giving everybody $12,000 is going to juice the economy. how? well, it you imagine everyone getting $1,000 a month, wher