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.
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@9RNK3HC10mos10MO
Slightly increase taxes of those making over $400,000 and use towards education, set limits on how much colleges are able to charge for tuition.
@9J5XGFT 1yr1Y
add a tax on companies that fund reduction of student loan debts for students for areas that company's services it provides.
@9GTMJ372yrs2Y
I feel that it is important to properly tax the rich and the greedy for what they refuse to put back into circulation, however, I believe that no one should have to be indebted in the pursuit of higher education; not our doctors, not our lawyers, our nurses, our teachers. America praises, and would be nowhere without its scholars.
@9D593Y9Republican2yrs2Y
Yes, tax the rich and reduce interest rates but they don' have to be related
@9D4YNFG2yrs2Y
Student loans in default should be allowed to be discharged in a bankruptcy court! Let the bankruptcy court sort out their ability to repay!
@96KYQ4K3yrs3Y
No, stipulations on where tax money goes should not be included in bills or referendums to increase taxes. While I agree that the top few percent of wealthiest Americans should be taxed more, I do think that we could go a long way with reallocating.
@94VQR9W3yrs3Y
No, the government shouldn't impose high taxes or issue student loans
@93GBXHG3yrs3Y
I believe there should be less of a push for young adults to attend college and I believe that there should be more education for these young adults and a break down of what these loans really are.
@937VZRV3yrs3Y
College tuition cost is the problem and should be regulated.
@92N56M23yrs3Y
@8YM6MRQRepublican3yrs3Y
Federal flat sales tax and regulate lenders
@8X73WZ74yrs4Y
No, you deserve to get whatever money you earn. Also where do you draw the line is it 1 million 10 million 100 thousand.
@8VNZYQB4yrs4Y
No, we should focus on reducing the over all cost of college.
@carmenj20224yrs4Y
we should increase taxing on the rich in order to help with homelessness
@8QXWJQN4yrs4Y
I believe to make this process for education free is the government should have grants for free or cost efficient community college, it makes schooling competitive and drives down cost at 4 year universities, also sanction community colleges to have 4 year degree plans in certain degrees
@8Q865CX4yrs4Y
I would love to pay for ALL students college tuitions and or help lower interest rates but if you tax the rich more then they leave and there will not be a tax base to get tax revenue from. Sounds great but does not work in reality.
@8PZXDQJ4yrs4Y
No, we should clamp down on colleges overcharging
No, and make regulations to stop the dramatic over charging and increases for college tuition
@8NRPBRK5yrs5Y
There should be an all around college tax that funds for partial schooling
@8NHRPSWRepublican5yrs5Y
You can increase taxes on rich but it doesn’t just have to go to college tuition and student loans
@8M822NK5yrs5Y
I don’t think hard-working Americans need their taxes raised; instead, make the corporations pay their fair share and use that for social programs.
@8M78MWT5yrs5Y
The money should be used to feed the poor and give them shelter.
@8LPRN235yrs5Y
No for taxes yes for student loans
@8LHSJNB5yrs5Y
Yes. But not to lower student loans
@8K2QVFN5yrs5Y
Yes but, increase the minimum income threshold for where the taxation begins.
@8GYGB495yrs5Y
the rich do not need so much money
@8GP6P765yrs5Y
Taxing the rich and the the monopolistic corporations is a great way to gain money back for use towards ANYTHING the the citizens of this country deserve.
@9CG6JJ62yrs2Y
Eliminate all student debt and abolish government involvement in inflationary subsidies programs... also... turn off the printing presses for 6 weeks at a minimum
@9BX5XVF2yrs2Y
I feel like they should be taxed Proportionate to how much they make i think its outrageous on how one man could take all the money in a Country and do nothing to help people. if the US has 190 Billion Printed(not digital) and one man (Elon musk) could be holding $146.5 Billion thats 73% of the money in a Country and Donating taxing 1-2 billion from that person Allows him to keep 144.5 Billion and pay for Full Tuition in bulk. If the Average college tuition is 31,055 Thats about 32200 tuitions fully paid by 1 billion dollars. But i feel we should reduce the amount they have to pay by 25% so 7763.75 you could give to students to aid their Collage funding. 128803 students would be aided after that and thats after one tax from one billionaire if you took that tax from 10 you could get 1,288,030 students financial aid.
@99FM89P2yrs2Y
Increase tax rates for wealthy even if interest rates don't change.
@95KRL2X3yrs3Y
Maybe, if done correctly
I say no because all people should be taxed the same
If you're going to force people to require college for jobs, why make college so expensive to actually go for a job they want? We already have to pay for mandatory school that people clearly never want to go to.
@B5LXLCWLibertarian4 days4D
There shouldn’t be any interest rates on student loans loans for students needing to live off the loans and going to school
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