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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@9GC3NRJRepublican2yrs2Y
No increase taxes for the rich but don’t give it for student loans. Lazy people don’t deserve my paycheck
@VulcanMan6 2yrs2Y
But it's not your paycheck, it's taxes specifically meant for helping the public. It's literally not yours anymore...
@9FST43NRepublican2yrs2Y
For the rich i say no because the put the work in for that money and student loans should be reduced in general
@VulcanMan6 2yrs2Y
“For the rich i say no because the put the work in for that money”
The rich quite literally did not work for their money; they got their money via property ownership and by taking the profits of other people's labor.
@97ZMYTRRepublican3yrs3Y
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.
@VulcanMan6 3yrs3Y
“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.
@9F4DDXBRepublican2yrs2Y
I disagree with this because it makes taxes more expensive for middle class families in the US. My family falls into this category and already has 3 kids in college. All this does is just raise taxes for upper class and middle class. The government should just leave taxes alone and lower student loans to make college cheaper.
@9DC6LL3Republican2yrs2Y
No If we go to a tax based on purchasing (buying products, building, services and other things) get rid of the other taxes ... income and property.
@8C59HFYRepublican5yrs5Y
Tax the rich a small amout more and reduce the inrests rates for student loans
@9CC8LWWRepublican2yrs2Y
@96ZCL5DRepublican3yrs3Y
Abolish for profit schools
@8CTXZ95Republican5yrs5Y
No, but lower taxes for the poor.
@9ZJ96TTRepublican7mos7MO
Increase tax on rich, lower on poor, make everything affordable for what money people have; or at least try to make things fair
@9YMNBZMRepublican 7mos7MO
no. my money is my money and im not going to give more handouts because im more wealthy than the average american.
@9YHG98NRepublican7mos7MO
college is a scam and all new college students only go to college for college underage drinking parties just like ATM and Texas Tech. So overall keep it how it is and there is things like the pell grant for people to help with the cost of tuition
@9Y92LPLRepublican7mos7MO
I don't get this question as much but if you have a higher income and are getting paid more, your taxes should at more a higher rate but then if you have a lower income, you shouldn't have to pay as high of taxes .
@9Y7ZVJTRepublican7mos7MO
Colleges need to have more "skin in the game" . 10% of income upon Graduation for 10 years. This would ensure education translates to High paying Careers. (Interest free loans subsidized by Gov.)
@9XPFXFYRepublican7mos7MO
Increasing taxes for rich won’t do anything. The rich don’t pay their taxes. Better be off to reduce interest rates
@9XNVWSZRepublican7mos7MO
Don't have a big opinion on it but i believe student loans should be paid by the students or people who choose to donate
@9XNC3X6Republican7mos7MO
No, colleges and universities should not be publicly subsidized to allow for competitive markets driving down costs and increasing quality
@9XL8CWXRepublican7mos7MO
NO because they are already taxed at a higher rate than the average person and the person should still be responsible
@9XB4KPNConstitution7mos7MO
NO, doing this would incite people who are considered rich to leave the country, this would take money out of the country.
@9X8T3TBRepublican7mos7MO
Well the rich mostly worked hard for there money and taking it away is mean, plus I'm poor and could care less.
@9X44Q4LConstitution7mos7MO
No, reduce government subsidies in order to reduce amount of dollars colleges have to spend on new buildings and bloated administrative salaries
@9X2ZKBYRepublican7mos7MO
No, increasing tax rates will not result in lower interest rates for student loans. Student loans from the government are causing tuitions to increase year over year more drastically with the ease of funds causing borrowers to go into debt all be it at a lower rate that takes 15-20 years to pay off
@9WWHTMFConstitution7mos7MO
Someone getting along for college is a private thing and the government should stay out of it totally
@9WHGBC3Republican7mos7MO
I think people that got money via inheritance instead of earning this mass amounts of riches themselves should be taxed heavier, considering they hadn't earned it.
@9WFMJH2Republican7mos7MO
The rich should pay the same rate as everyone, but the government needs to close the loopholes for tax evasions.
@9W93X7LRepublican7mos7MO
they need to tax the rich more and they need to tax major businesses, companies like Nike, FedEx and others alike have been known to commit tax fraud
@9W6BWHRRepublican7mos7MO
I think that increasing taxes on the rich is not the way to do this, I believe that taxes need to be rethought out to stop the rich from lowering the amount they pay in immoral and unfair ways. I do not believe that we should do this for the sole reason of lowering interest rates for student loans
@9W5Q24CRepublican7mos7MO
Taxes should be increased for the rich but the money should be put into other areas such as military and schooling up to 12th grade.
@9W3DP8TRepublican8mos8MO
I believe we should tax the rich but not just on student loans. There are many other useful things we could use it with
@9W38Z7LRepublican8mos8MO
Increasing taxes on the rich would not by definition reduce interest rates for student loans, the two are not necessarily coorelated
@9VTT4KTRepublican8mos8MO
We should tax the rich but usually, they earned and worked their way to the top so it does not need to be excessively taxed or huge amounts because they earned the place they are but interest rates should be reduced for students.
@9VQZVL2Constitution8mos8MO
There should be a flat tax for all individuals, companies, and corporations. 1 federal tax rate that is not adjustable for "write-offs" and the like.
This would make it fair for all. Example: Make $100, pay 7%, Make 1,000,000 pay 7%, make. I would however include a poverty line where the number would be reduced by half for those below the poverty line. This would also simplify the tax reporting, and make it far more difficult to "cheat" the system.
@9VQ68MQRepublican8mos8MO
No don't tax the rich. Stop sending billions of dollars to Ukraine, and use that money to reduce interest rates for student loans.
@9VLXTDXRepublican8mos8MO
Yes, and make it so every student is able to get at least a small amount to help them through the loan amount
@9VHFNF8Republican8mos8MO
Taxation of the super rich should not be designed to paying student loans or tuition but be used to lower our federal debt.
@9VF7CN3Republican8mos8MO
the best approach to addressing student debt and making collage more affordable is a complex issue with no easy answers
@9VBKBSYConstitution8mos8MO
no, the burden of the cost of education should be born by the beneficiary, the student. This will force only those pursuing higher Ed to only degree they can make a sufficient return on investment. In this society a plumber could be rich why should he subsidize a student taking gender studies but altimately working at Starbucks.
@9V9LQXNRepublican8mos8MO
No I believe there should be a flat tax rate for everyone or like the founding fathers intended no income tax.
@9V6R2P3Republican8mos8MO
No, but money must be circulated for the system to work. Billions sitting in bank accounts should have a minimum amount yearly spent to prevent money hoarding.
@9V49RZ6Republican8mos8MO
Jefferson believed in the value of education for a functioning democracy, so he could argue that making education more accessible aligns with the common good.
@9TZQFF3Republican8mos8MO
I think no because the rich weren't always rich they had to start somewhere and have all most likely eared there money and worked for it.
@9TV984CRepublican8mos8MO
really depends on the rich and the students so this questions has to be tested not just pass right away
@9TSP3PRRepublican8mos8MO
I think we should tax the rich a little more but its their hard earned money. Still lower interest rates.
@9TR9R7FRepublican8mos8MO
Yes, but not to cover all of the loans since the students should pay whether or not they stay in a dorm.
@9TPML9PRepublican8mos8MO
Both, taxed paid should be proportionate to the amount a person makes,but not high enough to take too much of their income, and student loans rates should be lowered
@9TNP639Republican8mos8MO
I feel like we need to keep the tax rate for the rich the same and maybe reduce a little amount of student loans like its your responabilites to pay your share in college and no rich person is gonna live in a country with high taxes for one group of people
@9TGG4H2Republican9mos9MO
I do agree with everyone getting taxed equally depending on their income, but I do not agree with paying student loans. I feel that they shouldn't be as high as they are, but the money would have to come from somewhere (taxes for other things) and it would be unfair for those who already completely paid off their loans without any financial help from the government. I would be on board with reducing interest rates for student loans IF we would not be paying for it through higher taxes and it gets paid for by other countries' imports.
@9TD7DXZConstitution9mos9MO
Government speeding is the issue. I wouldn’t be opposed to income caps. Like a person can only earn a certain amount of millions. Or a company can only pay executives so much before the excess must be distributed in bonuses for employees. But this has to be applied to politicians too.
@9T7SHSFConstitution9mos9MO
That is a little tricky because increasing the taxes for the rich mea increasing the taxes for the poor, we no longer have the middle class.
@9T3SKD3Constitution9mos9MO
Institute flat taxes based on income and any money gained should go to reducing national debt, funding national programs, etc.
@9T26GTWRepublican9mos9MO
Abolish taxes in general because no where in the constitution does it say that U.S. citizens have to pay taxes at all.
@9SQRRFLRepublican9mos9MO
Reduce government sending and reform the tax system before increasing taxes on people so the tax money is being used on what it is actually meant for
@9SPZ9JDRepublican9mos9MO
Yes 100%, students are not making near enough money to be able to pay for colleges, and neither are most of their families, if they can afford it why should they not have to pay extra taxes?
@9SPMQB7Republican9mos9MO
to be honest I think we shoudnt my reasoning is because some of the rich people went to college and put the work in but people who went to college but put no effort in to it its there fault that cant get rich but if you go to collage and put the work in you can become rich.
@9SNHMM7Republican9mos9MO
No, it isn't fair to just tax away at the rich. They earned their money and are successful they should still be paying a percentage aligned in the tax bracket. As for the money I have never truly seen a rich and famous person that doesn't give back to their communities and organizations
@9SN2H5WRepublican9mos9MO
It’s a yes and no thing because just because there rich doesn’t mean stuff should cost more for them but it could help some people who can’t afford student loans
@9SLTTLVAmerican Solidarity9mos9MO
The Fed needs to reaffix the value of the dollar and adjust prices to the current wages earned by its citizens if they want to see an improved country. No presidential candidate is talking about something this drastic.
@9SBKRX4Constitution10mos10MO
The government should never be able to make money off of its citizens, especially off of citizens just starting their careers. The loans should be interest free or the country should model the degree programs after similar degree programs in other countries where students can complete the degrees in shorter time periods or while they are in high school.
@9S4ZJLFRepublican10mos10MO
No, I think the rich are already heavily taxed more than most people realize, and student loans shouldn't be a thing, because college should be funded by the government.
@9S4GSMWConstitution10mos10MO
No, make the college students pay for their loans. Make it harder for kids to get loans for college, push for more trade schools.
@9RYNWJCConstitution10mos10MO
This is not up to the rich but up to the people who run the big banks to make logical and social decisions to reduce interest rates and allow the 99% who are borrowing from them to pay less.
@9RRV8Z4Republican10mos10MO
Taxing the rich will increase interest rates. tax Rich = need to make up for losses = stuff gets more expensive = economy slows down = everyone looses. A little 1 or 2 % off on student loan interest rates with this question makes no sense. the hurt is way more than the benefit
@9RLJ9MLRepublican10mos10MO
The interest rates are ridiculous and price of college as well. But also, why tax the rich when they worked for the money.
@9RKNLTRRepublican10mos10MO
I think college should be reasonably financed, it doesn’t have to mean taxing the rich a unfair amount
@9RFJPNZRepublican10mos10MO
Lower interest rates to the government, examine endowments amounts retained by the colleges no loan forgiveness.
@9R3BPMVRepublican11mos11MO
No, as a college grad with a ton of student loan debt I would love for it to be wiped clean but that's not anyone else's problem but mine! Stop making excuses for people, hold people accountable. The banks should lower the interests rates for student loans anyway, that would be the most helpful but putting that debt on others is absurd.
@9Q7XZV4Republican11mos11MO
Tuition rates should be limited by government and more important degrees (STEM) should be subsidized. Student loan rates should be fixed and regulated.
@9PFHXVWRepublican12mos12MO
Find out the real reasons as to why college is so expensive. Make changes to fix the root problems.
@9NGMMP7Republican12mos12MO
No, I think we need to work on reducing the "For-profit" model in universities. Due to the government, providing student loans for how much ever they need and fairly easy, it then encourages Universities to charge what they want. There should also be more scholarships at the university levels to help offset the cost, it shouldn't be all on the government.
@9N8LHPBRepublican12mos12MO
I want to say yes for this but at the same time that wouldn't be fair to them. It would be wrong to tax more from them after they worked so hard to be successful. Everyone should be taxed equally and it should be better balanced to better suitable for everyone.
@9MNF6M3Republican1yr1Y
No. Remove government sponsored student loan system altogether. At the same time, get the Federal Government out of funding colleges throughout the U.S. which would start making college more affordable by not paying exorbitant salaries to facility, etc. Funding should come from the private sector.
@9M9NLWSRepublican1yr1Y
the government gets millions of dollars a year and still we dont have free health care or free education and this educaion is required if its lower then being a senior in highschool i believe the government should do more for us before we do anything for them
@9M88WQ5Republican1yr1Y
We should support lowering the cost to go to school instead of increasing costs for different people.
@9M3BYHGConstitution1yr1Y
I got stuck in a private one You should explain better when we sign up. Everyone should pay the loans. The interest rate makes it almost impossible to live and pay them especially in inflation nation. I’ll take a freebie. I paid 2 going on 3 now to sallae Mae. Thanks for the no help. Politicians make too much $$
@9LYXBGTRepublican1yr1Y
The students knew they were going to have to pay student loans it is their fault for going to college.
@9LWK7S4Constitution 1yr1Y
Make College Tuitions for schools affordable, since for a year of college in most states is over $20,000. Making it almost impossible for someone to go to school without a scholarship or loans.
@9LSCYMTRepublican1yr1Y
No, the tax rates should be something along the lines of 8% of your income. This way, everyone is taxed for 8% of however much they make. If you make 100k-1mil or however much, you’ll obviously pay more, but it also creates a fair tax against the lower income families struggling with their finances.
@9LS9S32Republican1yr1Y
I support increasing taxes for the rich but not to reduce student loans. Students should just focus on their education and get academic scholarships.
@9LN9HLLRepublican1yr1Y
No, the only reason students have so much debt is because the colleges choose to charge them so much to stay competitive with each other. It’s just business, I’m not saying it’s bad of the colleges, I’m just saying that rich people shouldn’t be punished to reduce interest rates, which they can’t control.
@9LMYTQ6Republican1yr1Y
The rich, and the middle-class bear the brunt of taxation in this country. Anytime we have raised taxes on the rich it has continued to cause problems with our income. We should instead move towards a flat tax system, and everyone should participate. Also, we should look to tax People from other countries visiting as a departure.
@9L4756JRepublican1yr1Y
No, and remove interest rates on student loans for at least 10 years then apply after the time period.
@9KYL7L5Republican1yr1Y
I do agree that we should increase taxes on the rich people, but not solely to reduce student loan interest rates.
@9KXQKXCRepublican1yr1Y
Government should not be in student or real estate loan business. Government should cut other budget items to satisfy their indebtedness.
@9KX88Y2Republican1yr1Y
Taxing should be a flat percentage accross all incomes-however student loan interest can increase with income of student-not their families.
@9KVVV5LRepublican 1yr1Y
We should find other ways to have low taxes and also having student loans within reach for whoever is in college or university.
@9KRZM3PConstitution1yr1Y
increase taxes on the rich to make them pay their fair share, student loans should probably lowered, but anyone wanting student loans to be dissolved has a bias
No, and emphasize trade schools and employment opportunities that do not require a college education
@9KMBPNGRepublican1yr1Y
individually the rich pay more taxes than the poor BUT there are very few rich people that get taxed and A LOT more poor people/povish people that get taxed a lot compared to their income.
@9KM5R3WRepublican1yr1Y
no you shouldnt just raise the ax amount on people who make more lower taxes and destroy company loopholes still reduce interest rates for student loans
@9KL4MVHRepublican1yr1Y
You can raise taxes a little on the rich for a small reduction in interest rates but outside of that too much change would likely have unnecessary trickle down effects
@9KKTHZZConstitution1yr1Y
I support eliminating pork from bills so that the governement can provide free higher education and forgive all student debt.
@9KKSMKGRepublican1yr1Y
Make student loans private and eligible for bankruptcy to reduce the inflationary costs of federally backed loans.
@9KGBG2NRepublican1yr1Y
Yes, but the economy should ultimately be prepared for a full reform and this should change in the future.
@9KCVW4NRepublican1yr1Y
Yes, but in order to reduce the federal deficit. Interest rates on loans should be determined by free market supply and demand of credit/capital.
@9KBRVK4Republican1yr1Y
No, because the people who dont want to pay it, shouldnt go to college then, and those who went to college and still dont have money to pay it but is sitting at home drawing a pay check, should go get a job.
@9KBGX7KConstitution1yr1Y
tax was created to keep people from hoarding most of the u.s's wealth and should go back to the middle, and higher middle class in order to keep all citizens in comfort and over the poverty line so all may have a fair chance at earning a living
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