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)
@8FKMVNV5yrs5Y
No, the rich shouldn't have to pay for loans that other people took out.
@8Q8RMYM4yrs4Y
No, we already overtax the rich considering the top 13% pay for 90% of taxes, I know this equates to proportion of wealth, but if we continue to overtax then these billionaires will just move out and outsource more jobs, which means less money running through the economical stream
@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.
@92SYXM93yrs3Y
only if they didn't work for it
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