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.
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@6HDD83R4yrs4Y
50% flat or proportional tax rate regardless of the income of the individual or entity (e.g. corporation, company, business, franchise, etc)
@MSelvig3yrs3Y
No, and the government should not be in the money loaning business.
@8Q6C4Y44yrs4Y
No, and start transitioning government student loans into privately managed accounts
@6HDD83R4yrs4Y
50% income tax on individual and corporate entity (10% federal, 10% state or territorial, 10% county or county equivalent (or 20% for CDP's), 10% incorporated area (e.g. city, town, village, etc) (does not apply to CDP's), and 10% social security
@93VVP973yrs3Y
No, but eliminate interest rates on student loans
@8GLKWV54yrs4Y
@8WRGD393yrs3Y
No because the rich worked for their money just like everyone else.
@8XBX2P53yrs3Y
No, rich people should not have to pay for others' college education.
@8ZH59GG3yrs3Y
No, and taxes should be lower for everyone. Pretty much bring back Trump's tax cuts.
@92QNXVB3yrs3Y
I think they should be raised but not only to reduce college debt
@92SYXM93yrs3Y
only if they didn't work for it
