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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@9F4D5762yrs2Y
Yes, not only the rich but take money from the colleges and give it to the debit relief plan for college student.
@96ZCL5DRepublican3yrs3Y
Abolish for profit schools
@B4C2NJP2mos2MO
personally I think if we increased taxes for people with money the people who are poor and working hard to have some money would eventually have to worry about paying high taxes as well.
@9ZMXDQB6mos6MO
we should tax the rich a little more and make those taxes go towards paying for student collage loans... but the people we tax need to be super rich people not the medium rich people. or not as much for the medium rich people
@9ZH4PYS6mos6MO
Not taxing enough isn't the issue, tax loopholes in the country and economic policies that only benefits the ultra rich is the issue. However, I would favor more money being spent from that and other areas of government to reduce interest rates and costs of student loans and tuition.
@9Y29G3R7mos7MO
No, we should abolish student loans and make higher education available to everyone. Reduce the cost of higher education.
@9XV42L27mos7MO
all tax brackets should be the same amount, like 10%, so that everyone is taxed equally but the rich still pay more while those in working class and poverty don't need to pay as much as the rich. We should also still reduce student loans.
@9XFDWHJ7mos7MO
yes, but it will push out the "rich" reducing tax income than making taxes higher for the middle and lower classes so we can't really and it would do nothing to the interest rate and just leave us with less than we had originally
@9WPB64B7mos7MO
Maybe because the rich is getting it a little to easy then yes you can increase taxes for the rich but if not then no don't increase taxes
@9WJG8BKLibertarian7mos7MO
If I got a loan for a truck, welder, name the tool to further my financial independence… the Government is not going to pay that off and forgive me. Pay up.
@9WJCWZ47mos7MO
The government should cap the loan amount and the interest rate. Colleges have inflated tution because of unlimited loans from Federal government.
@9VV7XBV8mos8MO
no because how does that benefit the nation? it only benefits a certain amount of people and has the possibility of making things more complicated than they already are.
@9VN4G2C8mos8MO
I don't necessarily think taxes for the rich should be raised *only* for student loan interest rates, but I think that student loan interest rates should be reduced either way.
@9VGF6SQ8mos8MO
Yes, but only at a rational amount. Those people worked for what they have, and shouldn't be punished for their hard work.
I think they need fairly taxed but components shouldn't be involved on how we tax the rich it's needs to be just out or good moral of equality between rich and middle class and poor.
@9TQLHBX8mos8MO
No, every citizen should pay the same tax rate regardless of income. Otherwise it’s unfair. You work hard for what you earn. You don’t work, you shouldn’t be rewarded!
@9SNRC85 9mos9MO
The tax increase shouldn’t pay for tuition but go toward the deficit. Student loans should be decreased or eliminated regardless.
@9S2RSCC10mos10MO
The real issue is collage shouldn't be this expensive. You shouldn't have to take a loan to get educated.
@9RKSKNP10mos10MO
The rich people in Beverly hills are fairly arrogant and i dislike them. Only smart and more respectful people should be able to have money.
@9RFRGJ2Independent10mos10MO
No a choice was made. If someone wants their student loans paid for in anyway there's this thing called the GI bill that comes with serving in the military. There are desk jobs for "non warriors"
@9M45WFH1yr1Y
YES. eat the rich. and allow less fortunate people to live a little easier and still go to school to get jobs.
@9LZYT631yr1Y
I see all points. I understand a free education but I also don’t think other people should be responsible for it when they themselves can hardly afford to live.
@9LY8HB21yr1Y
Decrease the costs of publicly funded college and universities that are over run with unneeded administrative jobs and other unnecessary jobs.
No. Colleges should eliminate unnecessary expenses and thereby negate the need for most student loans.
@9L8CS9C1yr1Y
The rich people don’t even pay taxes they go to there judge and get out of it and student loans should have a deadline to it ,the government is so stupid and they need to stop making college free and use that money on the border and other needs Americans come first not the illegal immigrants.
@9J5RP5R1yr1Y
The government shouldn't be loaning money for profit in the first place. Student loans should be paid back without interest. You borrow 10k you pay back 10k
@9GMJTRQ2yrs2Y
The reason for giving increased taxes to the increased equity society is to make sure that the amount of taxes is not making another citizen die or suffer from the amount of taxes implanted on them.
@9GGRV8Y2yrs2Y
It depends on what they consider rich, and even then, if they worked to get that money they shouldn't have more taken away from them than anybody else
@9G7CLB22yrs2Y
College should be cheaper, trade schools should be promoted as an equal alternative. If a student chooses to take our loans they have signed to borrow the money and pay it themselves.
@9G5Q9HD 2yrs2Y
Place a yearly earnings cap that increases relative to the poverty level and use this to lower rates and the national deficit.
@9FHZSTMProgressive2yrs2Y
Yes, the rich's increased taxes should make up for the decreased interest rates for student loans.
@9FHGJC82yrs2Y
Yes but just a little. I think it is okay to be in debt but not life long debt. Let people live a little. Especially if the person doesn't make a lot of money in the first place.
@9FHG4PDLibertarian2yrs2Y
Yes, but use the money from the blocked tax loopholes in companies to fund the lower interest rates.
@9FBKMWT2yrs2Y
If the rich already pays so much more i think they are fine but I think student loans should proabably go down
@9DBSXFN2yrs2Y
Do not know enough about this topic
@9D7QYVPIndependent2yrs2Y
I think we should pull funding from Universities the tax payer funds until they lower their outrageous tuition costs .
@9D4S9F42yrs2Y
The entire college and university system needs to be completely redone.
@9FYL4X3Independent2yrs2Y
Frankly it's disgusting that the student loan system is being abused by government and educational politics. Getting an education should not be a life long debt choice, but an option to pay back what is loaned.
@9BYJXL32yrs2Y
Yes. If someone in our society has a certain amount of money that exceeds the amount they need to survive, they should have higher tax rates. However, this wouldn't exactly help out student loans as they constantly rise and are incredibly difficult, especially for low-income families, to pay off.
@9BSS5GGWomen’s Equality2yrs2Y
Make college more affordable and lower student loans as well as interest rates
No, the colleges should be more affordable to students so that more of them can go to college.
@9738DN53yrs3Y
Yes and no. I think it should be easier for people to pay for college (no too easy because people might take advantage of it) but I don't think they should tax only the rich.
@96MRFWD3yrs3Y
Yes, we should have increasing taxes for the rich, but we should pay closer attention to if the people are actually rich, or if they are simply in the middle.
@96GPD4RProgressive3yrs3Y
We should require 10% across the board unilaterally. From Jeff Besos to buying take-out food from Taco Bell. We should not be charging taxes on used cars, as those taxes were paid in full. We should not be charging taxes on used books for the same reason. If we did 10% across almost all platforms, that would help regulate a social institution that is largely not regular.
@96GPCQF3yrs3Y
No student loans should be forgive and student loans should be abolished
@96F7YMM3yrs3Y
More than we already do?
@95Y49NH3yrs3Y
Wealthy individuals spent decades earning and investing their money to get where they are today, it would be unfair to tax them in a way that is not proportionate to those in lower tax brackets.
@95RGLWT3yrs3Y
Yes, and regulate the cost of tuition
@95QJZW63yrs3Y
yes and no because I think they worked for where they are and deserve it.
@95LT7583yrs3Y
We should increase taxes for the top percent. Not just to help students, but everyone. Taxes for roads, healthcare, military defense.. etc
@93Y5YWKLibertarian3yrs3Y
Overhaul the education system
@93P8LHN3yrs3Y
how should i know i am young
@93FLGHQ3yrs3Y
Yes, explicitly for the top 1%
The rich are rich because they put in the hard work and effort to be rich, it wouldn´t be fair to them if we did that.
@92KVZPX3yrs3Y
People considered rich usually have high taxes already due to their property and other stuff they own I think they should pay a fair amount of tax based on what they own.
@BDether3yrs3Y
Student loans are not legal
@8ZW787V3yrs3Y
No, but the restrictions on student loan charge off in bankruptcy must be lifted.
Yes, but not an income tax of 30%
@8YB2XZX3yrs3Y
No, everyone should pay a fixed tax rate on their income that pays for social programs such as health care and education
@8XVG73W3yrs3Y
Taking into account the adjusted tax rates explained earlier this is a Yes
@8XSM8QP3yrs3Y
give deductions of some sort for the rich if they decide to give their money away
Well they should raise the taxes a bit, but not over do it.
Well they should raise the taxes a bit, but not over do it.;
@8XQNFWH3yrs3Y
Yes and no it should be the same with everybody not just rich
@8XHQPMX4yrs4Y
Yes, but only those of the top 1%
@8XF7Y8H4yrs4Y
By undoing the tax break that alone could pay off student loans and debts
@8X7H2HV4yrs4Y
Make student loan cheaper but never raise tax on the rich
@8X65XDF4yrs4Y
No, because that would be unfair to people who worked hard for scholarships who don’t have any loans. We should raise taxes for the rich though to provide the USA with Universal Healthcare.
@8WPKCGG4yrs4Y
No, because they made that money so they shouldn't be having to give more up because other people couldn't be as successful as them
@8WMZTDHRepublican4yrs4Y
There should be a tax but not one of 30%. For people who make a million dollars, thats 300,000. College should be payed for through government and everyone's dollars.
@8WMZM234yrs4Y
I think we should focus on taxing rich companies rather than rich people because the general public thinks that doctors making 200k is the rich but in reality they are upper echelon middle class and the true ones who need to be taxed are the billion dollar companies.
@8WMLKVX4yrs4Y
college should not be free but the taxes should be raised for the rich.
@8WL9GZW4yrs4Y
No, because the rich people already pay more taxes then other people.
@8WGP3B84yrs4Y
yes, but not at this steep of a rate. if you're going to tax "the rich" then get people that make more than ten million at a 30% rate.
@8WCNNDD4yrs4Y
No. This whole question would be void if there was a FLAT tax rate for everyone, regardless of income.
@8V97FQDRepublican4yrs4Y
I believe that maybe a small amount more could be charged to help fund scholarships but at the same time, we should not force the people who worked really hard for their money to give it away.
@8TZV97KRepublican4yrs4Y
No, students loans are the student's responsibility. If they were mature enough to sign, then they are mature enough to pay it back.
@8TWXBRB4yrs4Y
No, this will only lead to lowered wages and raised prices for goods.
@8TG8R554yrs4Y
No, we need to reallocate the way we spend the tax revenue we already have. Further, we should place a higher emphasis on educating students on the economics of their degree (entry and exit counseling).
@8T4RZ2X4yrs4Y
When a person reaches a tax level, we should manage their taxes to a necessary amount because taxes are already high for rich people to make taxes to scale.
@8SWLW9X4yrs4Y
No, Student loans are a choice and should be treated like a personal loan. It is not mandatory for a good living.
@8SCTLX44yrs4Y
School should not be as expensive as it currently is
@8S9X5V7Constitution4yrs4Y
I mean its good to cut down of student loans and all but taxing the rich more is just like taxing the unwethy and that should not be done
@8S84BSC4yrs4Y
i would say yes and no because it is fair to the people who don't have as much money and don,t want to get student loans but, it is also not fair to the rich people that they have to pay higher taxes.
@8S63ZJB4yrs4Y
No, but we should reduce interest rates to the rate of inflation on federal loans
@8RG456HLibertarian4yrs4Y
No, but there should be more policies/laws that prevent the 'rich' from getting out of paying taxes.
@8R9RJWB4yrs4Y
No such thing as raising taxes on the rich. Political bs
@8R55ZH8Independent4yrs4Y
No, the cost to educate needs to be lower and standards needed for higher learning should be greater. Also, there should be less a need to force students to take classes that offer no significant advantage to their major.
@8Q7NLDP4yrs4Y
Student loans should be NO INTEREST.
@8PPNTSR4yrs4Y
No, that's a stupid reason to raise taxes! Why should I have to pay for some kid's college education that I never adopted and never agreed to do?!?!
@8PLXS784yrs4Y
No, because I feel like they should be able to keep their money just because they make more money doesn't mean they should have to pay more for their taxes.
@8PDXR5Q5yrs5Y
Yes I do. I believe things such as College should be automatically paid for just like regular schools. Many individuals would be out of debt and there would be less stress. On the other hand, a small fee should be charged to cover taxes, something students should be able to afford.
@8NX4RBMRepublican5yrs5Y
I would need to do more research on this topic.
@8NTVX4K5yrs5Y
Rather not say anything about this.
@8NMFN525yrs5Y
no cause then there wont be any point in being rich
@8NH95DT5yrs5Y
yes but it shouldn't be free just more affordable.
@8ND7NMV5yrs5Y
I support the wealthier people paying their fair share with fewer loop holes for the good of the country not just to reduce student loan coast. i do believe those rates should be much more reasonable
@8ND3SKX5yrs5Y
yeah, if you have a billion dollars, you should be able to pay a few more dollars, and not complain about it. give us some cashhh.
@8NCJG6M5yrs5Y
Sure. That seems like an okay idea.
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