In March 2019 the U.S. Senate defeated The Bank on Students Emergency Loan Refinancing Act by a vote of 58-38. The act, proposed by Senator Elizabeth Warren (D-MA) would lower the interest rate on existing student loans from 7% to 3.86%. The act would be financed by levying a mandatory income tax of 30% on everyone who earns between $1 Million and $2 Million dollars per year. Proponents argue that current student loan interest rates are nearly double normal interest rates and should be lowered to provide relief for millions of low-income borrowers. Opponents argue that the borrowers agreed to pay the interest rates when they took out the loans and taxing the rich would hurt the economy.
@ISIDEWITH8yrs
Yes, and increase government funding so every student receives a free college education
@ISIDEWITH6yrs
No, but we should still reduce interest rates for student loans
@ISIDEWITH8yrs
No, and transition all current government student loans into privately managed accounts
@93YZMSK10mos
No,but we should abolish interest rates for student loans.
@959K74L9mos
No,but abolish interest rates for student loans.
Increasing taxes on the rich is a bandaid over a cannon hole, the entire ability of the wealthy to retain their wealth is the extreme efficacy at which they avoid taxes, or find loopholes to minimize their impact.
@979LZZ6 6mos
Increasing taxes on the rich is a bandaid over a cannon hole
Not just avoiding taxes, but the real root of the problem is that the wealthy are acquiring their wealth in the first place by skimming the profits off the backs of the working class. We can tax them all we want, but so long as they own the profits of our country's workers, then they'll always be able to keep taking more. It's a structurally unjust funnel straight from the workers and into the pockets of the wealthy.
@9378NHW1yr
The rich should be taxed more but not for student loans
No they earned the money as they worked hard for it.
@979LZZ6 1mo
You mean the money that their employees work hard for..?
@98PJR9H5mos
No, this is not a proper use of government money
No, Just because someone is rich does not mean they should be forced to pay for things for other people; that should be a choice
@979LZZ6 5mos
You're just describing taxation...
The rich had to pay off their student loans so can you.
@979LZZ6 6mos
There's this thing called "society", it's where we all work together for the benefit of everyone...
@985KPMX6mos
I Disagree because we have no right to take money from people who have rightfully earned or obtain their money. If we make the rich pay for free college education this will negatively effect the work force making college degrees more useless since everyone will have some kind of degree and employers will no longer be interested with people who have these degrees but is would rather increase the expectations or requirements to get hired in the work force.
@979LZZ6 6mos
First of all, "the rich" (aka private business owners) do not "rightfully earn or obtain their money", they merely fleece the profits produced by the workers. Secondly, if everyone having a college degree makes them "useless", then we have a fundamentally flawed idea of the purpose of education; there should be no downside to having a fully educated society. Lastly, why would employers not value a college degree anyway, just because it didn't cost money to go to college..? The degree still represents the fact that you went to college, studied a field, passed, and earned a degree, so why would that ever be an invaluable metric of knowledge in a field? Unless, of course, you believe college exists as a class gateway or something..?
@Typical-Transhum… 8mos
Yes, and increase government funding so every student receives a free college education.
@95VJDRN8mos
No, don’t take out a loan you can’t afford to pay back
@8FW9JLN3yrs
I think they should actually pay their taxes.
@8FW5L6X3yrs
No make colleges free or cheap
No, there should be a very low, flat-line tax rate.
Increase the taxes for super wealthy elites, but not for student loans
@9BKBHNF1mo
Yes, but focus this money on reducing tuition costs
@99BRBFV4mos
Yes, but not a drastic amount
@993PWCX4mos
if you are going to increase taxes increase then all
@98JP82Y5mos
No they made their money and should be treated like a normal person
@987GGDK6mos
I feel that lowering interest rates is a good idea but not taxing the rich more. I have no idea.
@985VBLZ6mos
Only if the rich don't get to dictate a rise in goods and services.
@David-Cooper-KY6mos
Nope, flat tax. Everyone pays the same amount, stop punishing the rich.
@97W394S7mos
No, but find another way to reduce interest rates for student loans that is alike other interest rates
@97F2NHS7mos
Tax them the same percentage as everyone else
@977B3SK7mos
Yes and no because the rich shouldn't pay the same taxes as the poor people who can't afford many things.
@9C9JQ4Z2hrs
The problem is, the rich pay little taxes because they use charity as a way to escape taxes. They should still be taxed even if they donate to charity.
@9C9CTK216hrs
bernie had mentioned that by adding a 1 percent tax on stocks should cover the expenses ,i like this proposal
@9C972XW1 day
No, but I think college should be free unless you are out of state or going to a private university.
@9C966W62 days
No. We should remove the tax exempt status of religious institutions
The rich should be cast down and abolished
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