There’s no such thing as a free lunch.
And in the case of one of Bernie Sanders’ key proposals, the “lunch” for taxpayers could turn out to cost a whopping $70 billion per year, according to statistics from U.S. News.
For months, the Democratic presidential candidate has been drumming up hordes of young voters with this applause line: that public colleges and universities should be, in his words, “tuition-free.”
Sanders has promised that the country’s 1 percenters would be responsible for coming up with that money, through a financial transactions tax on stocks, bonds and mutual fund sales.
But it’s not quite as simple as that, said Brian Brenberg, associate professor of economics at King’s College.
“He says it’s only going to hit the rich, but of course, you’ve got millions of Americans out there buying mutual funds,” Brenberg explained on Fox and Friends Weekend.
Many use the funds to put away for their retirement and save for college.
Sanders’ plan would not only exacerbate an “entitlement mentality” in the classroom, but leave millions with an added financial burden, said Brenberg.
“We’re all going to be on the hook for that tax that he wants to institute,” he warned.
Watch more, above.