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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@9XJ8XHH7mos7MO
Yes, based off how poor you are, is how much of that momey should go towards helping the family pay for college
@9K5GHYR1yr1Y
Just because you have more money then certain people you should not be charged more then the average person.
@9GF7J7PWomen’s Equality2yrs2Y
i think this could be a good idea the person would have to be able too support themselves on top of paying taxes.
Yes because the people shouldn't have to worry about debts so early to becoming an adult
@8XFVFS84yrs4Y
i feel taxes should be judged on your income and your finacial stance
@8XFLJLS4yrs4Y
doesnt matter im not rich
@8V26JJ44yrs4Y
What do you mean by rich? Is it being defined here as the top 1% or the top 0.1%? This question needs to be more detailed.
@8T7YHFG4yrs4Y
To quote a line from Futurama, "I have no strong feelings, one way or the other."
@8S3RZ534yrs4Y
To quote a line from Futurama, "I have no strong feelings one way or the other."
@8Q63K2H4yrs4Y
I think it should be lowered on both ends
@8P4NWC25yrs5Y
Yes, but not by to much.
@8LXNLZT5yrs5Y
@5JBLHDWLibertarian2yrs2Y
The government should not be involved in this issue.
@96YGKTM3yrs3Y
no, i dont think we should just tax the rich more for this just because they have more money that they have worked for, nut we should find a way to reduce interest rates for student loans.
@96SHKVV3yrs3Y
No. "The rich" already spend taxes by the percentage of their income. so if someone makes 100,000 dollars annually and has an annual tax rate of 20%, they would spend 10,000 dollars on taxes. someone that makes 1,000,000 dollars a year would spend 200,000 dollars in taxes.
@96S2PT63yrs3Y
@8GST8Q85yrs5Y
No, that is practically theft. Also, depending on the increase of tax it may drive companies to leave the US. Everyone should have equal taxes.
@9W8TGS97mos7MO
no I think rich people need to be nicer and less greedy and help homeless people who are willing to change
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