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.
The problem is that the cost of colleges has increased so dramatically compared to average income. Regulations should be put in place to bring these closer together. I also think that providing money for early childhood education, arts programs in schools, and after school programs would better benefit society than putting that money towards paying for people to go to college.
US schools are run badly. By 10th grade you SHOULD be done with lower education. Grades 11-12 should be the first 2 years of college or trade school.
After that you can continue with college for full degree or jump into the work force in the trade you trained for.
its a tuff question because just think as of it as you were a rich person and they started taxing you more than you usually do you might be a little mad i would be they make their money fair and most times easier then middle class - kinda wealthy.
Only the richest people (people with multiple houses, cars, etc...) should have their taxes increased, but yes...no one needs that much money...it would go to far better use for public benefit than for frivolous spending.
This makes me think of segregation but in modern society. But sadly not all rich people are nice. They might tend to look down on the poor or they might not but maybe they could have a little higher tax since they can both afford it and it is more useful for the money to be used for the future generation's education.
I believe it is unfair that the people who have worked hard to get to where they are now, are being equal to people who aren’t working for it and are just being handed money from the government. Most people who have ‘more’ money (not everyone one but most) have been smart in the past weather with taxes or their degrees and have earned where they are now.
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