Note: Editorial, Opinion.
Looks like Hillary is making it rain. Buy into Medicare early and free college tuition for family’s making under $85k (moving up to $115k a year), things are looking pretty “Bernie” Lately.
But it’s total bull-sh**. Let’s start with the obvious reason why this is an empty promise from Hillary, who is trying to capture the extremist votes. It’s not actually going to happen. Of course the rest of this article is going to speak about the details of the plan outlaid by Hillary, but let’s step back and realize that this plan has a less than 5% chance of actually passing through Congress.
So why is this plan never going to happen? No way to pay for it and no desire by anyone to have it happen (except largely from people who financially benefit directly from it). There is also the fact that many colleges, already seem to operate similar to businesses. Multi-million dollar salaries for presidents, buildings, facilities, and so forth. If you’re a college, things are good because current financing largely allows them raise tuition as desired. Furthermore, if college suddenly becomes free to many families, there will have to be serious controls of costs (something universities probably don’t want). It would likely take an entire federal agency to be created, to effectively try to control and mandate universities.
Another large reason why we know it’s virtually certain not to happen, is the lack of details provided for this plan. What income is actually used? Also, what is the “reasonable contribution by family” piece. This plan is extremely vague. That’s because in many ways, it’s not a legitimate plan, more of an idea / “feeler.”
So why else is this free tuition plan a bad idea? Because it opens up the door to income abuse and negative social engineering. Maybe you have more stay at home parents who intentionally drop their income (and re-gain a large portion via free college). Even more concerning is if you have an S-Corp that determines largely what your income is to be paid. Maybe you drop your income to the maximum and continue to grow your company during your kids college careers. People will find ways to benefit themselves to the maximum.
Can we also ask ourselves, why $85k a year income (moving up to $115k)? If you make $120k a year in San Francisco and barely can make ends meets, you should have to pay for other kids college (via taxes)? Why not make the limit $500k a year? Or why not just free for all? Why pick an arbitrary number that largely hurts a lot of the middle class? If you and your spouse both make $60k a year, do you really feel that it’s fair you aren’t eligible for free tuition? Sounds like the average American family with two jobs, trying to make it work.
All signs point to this plan being a gesture — Nothing more. It mine as well be “Taco Tuesdays,” since this free tuition plan for some is a vague, 10% thought-out, impossible to pass plan.