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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@9CD5PS32yrs2Y
Yes, but don't tax the individual with jobs that help Earths health preservation.
While protecting the environment is indeed important, it's also crucial to maintain a fair and consistent taxation policy. For example, consider an individual who earns a high income working on environmental preservation projects. If they are exempt from increased taxes, this could lead to inequality in the tax system and might be seen as favoritism towards specific industries.
What would be your suggestion to ensure a fair taxation system while still acknowledging those who work in environmentally beneficial jobs?
@@CF0515 1wk1W
We need careful economical and political consideration whether to reduce or increase interest rate on student loan or not.
@B4F73YF2mos2MO
not personally the fault of the rich and there are good people who earned their money legitimate ways, so I am middle.
@B3ZJYRG2mos2MO
Maybe increase it a bit to help people with student loans and maybe help avoid student loans in the future.
@9YDMLD97mos7MO
Yes but not only for student loans but to help those in need so that some percentage can go to the people that need it more
@9PNJZBD11mos11MO
OMG, schools should be held accountable for reducing their costs. Many of the rich donate scholarships, provide internships, etc. Quit already w/ the 'expect more' - read Atlas Shrugged
@9K8QVHJ1yr1Y
I think we should tax really really wealthy people. Not $1 million or $2 million but billionaires or $100 millionaires
@9J4S6TR1yr1Y
No raising taxes will not solve this issue. Cut government spending overseas and bring that money back to help the people.
@9H9553Z1yr1Y
I personally dont really care about collage but we should increase taxes by 1% to the rich so that we could build the economy more and more
@9FNN43SLibertarian2yrs2Y
Your question is framed incorrectly. What has caused the increase? Find what has caused the increase and make the cuts there.
@9FMKMQY2yrs2Y
this would just lower wages for people who work for the rich people so no
@9FM2TXN2yrs2Y
Yes, but only the richest of the rich (top 5%)
@9DK9G6L2yrs2Y
Students should be responsible, for paying their loans back. We the people shouldn’t be responsible for other people choices and debts.
@98463K8Republican2yrs2Y
No, but get rid of tax loop holes.
@965FPFL3yrs3Y
Just because people are rich doesn't mean they need to be taxed more because others can't pay their taxes. People are rich cause they worked hard to be there. I do believe college and student loans are way too high for those with lower incomes and that needs to be lowered.
@963D3H43yrs3Y
We should tax the rich some more but not for student debt
@95YR9J83yrs3Y
Increase taxes on corporations who profit from having an educated populace making them more competitive in a global market.
@95Y9P2NIndependent3yrs3Y
I feel like there needs to be more organizations dedicated to minimizing student debt, and providing easier access to higher education. I also feel there should be more government aid for low income students, anyone who has a desire for knowledge should have the ability to pursue that education on an equal plane as those who are more fortunate.
Yes, but only increase taxes for the excessively rich.
@93N7B4B3yrs3Y
Have a flat tax rate based on income
@934H2HX3yrs3Y
its hard to say cause I do agree but some rich work very hard for their money
@92YVCW73yrs3Y
Yes, as long as it is regulated, to make sure that the system does not become unfair.
@928V7JZ3yrs3Y
No, but student loans should not accrue year on year interest, instead it should function as an additional income tax that is no longer paid once the loans are paid off.
@8ZWSX9KLibertarian3yrs3Y
all people must pay the same amount of taxes no matter how much money they earn
@8YKJSNQ3yrs3Y
Overall we should decrease student loans
@8X6RBSG4yrs4Y
Yes, but only the richest 1% of the population should be taxed
@8WVND4T4yrs4Y
No, the rich are difficult to touch in that aspect, other measures to recirculate their money should be taken.
@DaysiSWomen’s Equality4yrs4Y
Well if the rich will pay yes because people that are not that wealthy probably would have a hard time to pay that.
@8W55PKN4yrs4Y
no, gov subsidized student loans are the reason that they have such high payments in the first place
@8TJJWTN4yrs4Y
This question is nonsense
@8SYRM87Progressive4yrs4Y
No, student loans should be abolished entirely and education should be made free
@8SX35Y94yrs4Y
no, but just make student loans government funded still tax the rich
@8SG472M4yrs4Y
No, get rid of tax loopholes for large corporations instead.
@8QZGDGT4yrs4Y
No, and transition all current government student loans into privately managed accounts. Also transition away from federally secured student loans.
@8QY8CP4Republican4yrs4Y
yes but its not gonna work, rich people work away around, so it doesn’t matter
@8QX8CBC4yrs4Y
You get the loan, you pay it. Period.
@8QJCLMZ4yrs4Y
by a small amount, and conditions should apply. interest should also be lowered in the first place
@8QJ9FS4Independent4yrs4Y
No but if we ever enter Deflation all Student Loans should be forgiven to provide an economic stimulus
@8QJ4WHR4yrs4Y
Contract to belief, the rich are taxed more than you think when you compare their wealth to the middle Class wealth. Students loans are an issue that the user needs to figure out.
@8PBCCZM5yrs5Y
Not just tax the rich upper one percent but have a progressive tax.
@8ND5BGS5yrs5Y
Yes. They should stop funding illegal immigrants and drug addicts and use it towards military and the student loan interest rate.
@8N74B785yrs5Y
Tighten loopholes for people avoiding paying taxes before raising them to evaluate if we need to raise them at all
@8LHLSVY5yrs5Y
Increase tax rates for the ultra-wealthy to normalize their tax rate compared to working class citizens. Education (K-College) needs entirely revamped.
@8L4K75L5yrs5Y
Lower taxes for all no matter your position in life.
@8JL3VFVProgressive5yrs5Y
No, but everyone's the tax percentage should be equal no matter the salary of each citizen.
@8JGFSXFIndependent5yrs5Y
it should just cost lest don't increase taxes on anybody
@8JF39J9Constitution5yrs5Y
These two things aren't connected in that way if at all, so increasing taxes on the rich would do nothing to reduce interest rates
@8HZQ7365yrs5Y
No, but regulate universities so the cost of college is more affordable. Get rid of federal loans.
@8HQZK2G5yrs5Y
Yes, but reduce rates first before taxing rich
@8HL4YDZ5yrs5Y
The definition of who is rich and who is not is to fluid to answer this
@8HG7BFL5yrs5Y
No, lower taxes for all.
@8HFBKYG5yrs5Y
No. We should lower taxes on everything.
@8H9BVZR5yrs5Y
Regulation on what universities can charge students should be put in place to reduce tuition and ancillary expenses to make education more readily available and less financially devastatingly.
@8GR6NNT5yrs5Y
Lower taxes for all people, and reduce student loans amount
@8GQDSH35yrs5Y
No, a redistribution of funds should be evaluated and loans should be reduced
@8GPY5765yrs5Y
First, not every student necessarily should go to college. That being said, college should be more affordable for anyone who wants to go.
@8FZ8M6Y5yrs5Y
Increase taxes on major corporations, not just well-off individual Americans
@8FCQBWGWomen’s Equality5yrs5Y
Yes, and increase government funding so every student receives a free college or trade school education
@8D4B9LJ5yrs5Y
Tax everyone equally. Make a flat tax rate on income, or do away with federal income tax altogether.
@8CLMJJT5yrs5Y
No because that is unfair to the people who actually work for their money
@9B9SS9N2yrs2Y
as long as the rich can still be stable after being taxed much higher
@9B6H4ML2yrs2Y
No, but both issues need to be addressed
@99QB3LT2yrs2Y
I say yes and no because that’s not fair just they’re rich, we raise their taxes but, The government is struggling to pay for people’s education even in 2023 because they are low on funds to help others in need.
@99J7XCG2yrs2Y
we just need to eliminate certain powers that the rich abuse to increase wealth and tax fairly, since even our own government officials dodge taxes and writes certain tax codes to abuse.
@99DCJXN2yrs2Y
yes but to billionaires and multi millionaires who dont donate.
@99BSY8N2yrs2Y
make it the same rate for everyone percentage based
@98VYZRQ2yrs2Y
It depends on how you live with your money. If the rich are supporting many people or need all their money, they shouldn’t be forced to pay more but if they are able to continue living how they’ve worked to live with these extra expenses then why not
@98LM9952yrs2Y
No, but the cost of education needs to be significantly reduced so that it is affordable.
@97DCZG33yrs3Y
Raise it for everyone, how much is based on what you make
@97CKTDG3yrs3Y
No, but the rich could afford to be taxed a little more than they are currently.
@97BRPG83yrs3Y
No, and we should get the government out of the student loan business
@96YM5SS3yrs3Y
This one I am not too sure.
@96S7Z3N3yrs3Y
No because these taxes will not reach the rich, as is with all government taxing efforts it will either affect the poor or the middle class.
@8YL4LLF3yrs3Y
Yes, and relocate military funding so every student receives a free college education.
@8KZJLCQRepublican5yrs5Y
Yes, and increase government funding so every student will have 2 years of a free college education
@8GRG2225yrs5Y
No all taxes should be lowered for everyone. If we are all equal, shouldn't we all have to pay the same taxes?
@8GDPRS85yrs5Y
There is not one answer for this. I think if we Overtax the rich they will take businesses and their money elsewhere. They should be encouraged to donate and help the low income with other incentives.
@8GBM5QG5yrs5Y
Yes but only if students are required to maintain a b- average or they lose the benefits.
@8FHDMK25yrs5Y
Tax individuals more. Not necessarily corporations
@8DVGX675yrs5Y
No, the federal government should not be offering student loans
@8WKBB6D4yrs4Y
No, however the way student loans are managed in this country is deplorable and needs major reform.
@8WCXZQP4yrs4Y
I don't associate with politics so idk
@9L2P85M1yr1Y
Student loans are stupid, pay for the schooling as it occurs. pay teachers directly for a class, government should pay for partial part of the class, but the people in the class should pay some. (not prohibitive). should not have current structure of school.
@anim_xst 2mos2MO
No, and reduce taxes for all tax brackets regardless of wealth in order to reduce interest rates for student loans instead
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