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The cost of a college education is out of control. In fact, the business of saddling students with inordinate debt, whether they complete a degree program or not, is the dirty business of colleges.
One answer to the $1.5 trillion problem facing indebted college students of all backgrounds and income levels is free college.
The real cost of free college would be borne by taxpayers and the students it would fail in more ways than one.
Socialist policy purveyors advocate free college to lift all boats with the tide. However, as laudable as that goal appears, free college is nothing more than a ruse.
The ruses don't stop there, either. Recently, a friend and colleague of mine, Tom Gentile, brought to my attention a growing issue that's affecting millions of Americans: A tragic new movement called "reHIREment."
Yep, you read that right. And it means exactly what it sounds like. Millions of retirees, or folks about to retire, are having to throw away their dreams of retirement to go back to, or stay in, the workforce.
Some of these retirees – or "reHIREes," as Tom's calling them – have to return to work out of frustration, fear, or just because they have no other choice. It's a sad way to spend your would-be golden years, but it's quickly becoming a reality for a growing number of the population. It's estimated that by 2024, only six years from now, 13 million "reHIREes" will still be in, or return to, the workforce.
You can protect yourself, though. It's not too late. Click here to learn more about how Tom can help keep you from becoming another part of the statistic.
But don't go thinking that these "reHIREes" didn't apply themselves or were lazy. In more ways than one, their fate was not their fault.
Like not getting the pensions they were promised. A pension is just as much of a grandiose illusion as free college is. It's all a corrupt business, and today, I'll break down for you why free college is a problem.
Here's why free college is a bad idea, who it would hurt, and who it would really help…
"Free" Doesn't Really Mean Free
Free college would never be free. Someone must pay for buildings, books, educators, and administrators. That can only be taxpayers.
Coming up with a formula to tax individuals or entities, whether a flat tax or a progressive tax, is the first problem.
There's no equitable way to levy a specific tax earmarked to pay for free college. One estimate making the rounds of discussions about free college has the cost estimated at $75 billion a year.
That's for starters.
About the Author
Shah Gilani is the Event Trading Specialist for Money Map Press. In Zenith Trading Circle Shah reveals the worst companies in the markets - right from his coveted Bankruptcy Almanac - and how readers can trade them over and over again for huge gains.Shah is also the proud founding editor of The Money Zone, where after eight years of development and 11 years of backtesting he has found the edge over stocks, giving his members the opportunity to rake in potential double, triple, or even quadruple-digit profits weekly with just a few quick steps. He also writes our most talked-about publication, Wall Street Insights & Indictments, where he reveals how Wall Street's high-stakes game is really played.