Last Spring 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.
No punishing sucess reduces motivation to strive for sucess.
See my answer above - I think tax loopholes should be closed so that the rich have to pay what they owe.
It depends on the data present.
No, student loans should be interest free and employers should have an incentive to pay off student loan of employees with tax breaks
Yes, and we should still reduce interest rates on student loans anyway
Yes, but the rich category should not include the middle or upper middle class. Increased taxes should be focused on the millionaires and billionaires.
Yes but on the higher income earners, 1-2 million a year at 30% seems too high on that specific earning
No, but should reduce loopholes for the extremely wealthy.
No, but increase taxes for the rich in order to increase funding to colleges and universities so that they can reduce tuition and fees for students.
There is no meaningful link between the two.
Students should receive assistance in exchange for National Service, military, parks and Social Services.
NO, and college tuition should be government funded.
The government should forgive all student loans
yes and gets free education for college but have to pay for room and board
Force schools to stop raising costs and only allow tuition to find the student's actual education ( instead of sports and tenures).
Overhaul the college education system. Make each school be accountable for the debt students obtain. If students have too much debt to repay, let the school take the hit.
Higher learning should be made affordable for anyone passing an entrance exam.
Not necessarily taxing the rich but taxing the schools for having higher tuitions. Those should be redirected to student loans
No, but lower rates for student loans upon completion of a degree
Taxes should be 15% across the board without tax deductions.
A return to prior methods of funding higher education, such as was available in the 1960s, should be enacted. Student debts should be dischargable like any other debts, should students take on student loans. Guaranteed loan programs should not become the haven for predatory loan providers, who abuse the non-dischargability of the debts to extract onerous obligations from students through their adult lives. This should be coupled with labor reforms that limit the degree of college education they require for their positions to reflect what is actually required for those positions; A college
No, all student loans should be forgiven and all tuition going forward should be abolished, higher education should be publicly funded.
No, leave the government out of student loans, and lower taxes for everybody
The whole system needs to be reconfigured
Kind of...not tax them too high though. But we really should reduce student loans.
No, remove the federal income tax.
Tax cut for the rich is ridiculous! I couldn’t even itemize my 1000 a month healthcare premiums! Middle class always pays the most taxes, needs to stop
Yes, but only enough to make college affordable for everyone
Eliminate tax loopholes for the wealthy, reduce interest rates for student loans, More regulation on collegiate boards of education....follow where the money goes. If Administration is benefiting heavily from tuition income rather than the programs/professors, there's an issue.
Yes and increase government funding for a free ride to college , but if they drop out they must pay it all back
No, go to a college you can afford
Close loopholes so that the rich actually pay taxes
Abolish income tax and instead institute a national sales tax. Rich will naturally pay more as they buy more and there are no loopholes. Use the excess taxes to pay for student loans
Yes, but only if they 500,000 or more a year.
No I feel all for profit and private colleges pay an additional 10% tax on all tuitions received to fund loans
Lowe price of college tuition.
Colleges shouldn't be allowed to set tuition prices so high because higher education has become an impossible goal for many of America's youth. Prices on important majors such as Engineering law practices medical practices biology and such should have prices capped
Yes, and also reduce military spending to make education our top priority.
No way, college is a scam. All knowledge and skills are already free on the internet. If people want to blow 100k on a loan that's their problem.
Keep interest rates low regardless
I think that students need to take more care of paying for college, but that can't directly be put on the rich.
Make everyones taxes the same amount.
Public colleges should be free to all
Education needs reform before this can be discussed
I do, but only by a bit more. I also think that the government should watch big companies and moniter their taxes paid. Many companies in the past have abused it.
No, the price is just going to keep going up the more money they get, colleges like everything will get all the money they can, if they get more they'll still want more, enforce more policy for cheaper college and education, and prevent corporation loop holes. The rich already should and are supposed to be taxed more just stop those breaking the rules.
I think taxes should be made proportionate to the amount of money somebody makes/owns.
I want interest rates on student loans to be lower, but I don't think it is fair to charge someone more just because they have more money. They earned that money themselves so they shouldn't be told how they have to spend it.
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