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)
@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
@8R7JPB54yrs4Y
Student should be canceled. Doing such will help students use their income to live.
@8CLVKTG4yrs4Y
No, the cost of a college education is simply too high. Taxing the rich may help in the short term, but the real problem is at the university level.
@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.
@92RSHM93yrs3Y
As much it will be beneficial that they increase taxes for the wealthy it wouldn't change anything because they have billions of dollars more and still counting, if students think they can't pay off their student loans then they shouldn't be in college in the first place or at least make better financial decisions if they not putting effort to pay it off.
@92SYXM93yrs3Y
only if they didn't work for it
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