Published: Tuesday, March 11 2014 6:15 p.m. MDT
What a foolish proposal.How about a flat tax? It is the only fair
way to tax everyone with the same percentage of their income. Close all
loopholes. End all deductions. Flat tax is a fair tax.
Nothing like a New England Democrat to come up with this dumb idea. I came from
a middle class family and had to work my way through school to appreciate
Class warfare at its finest.The problem isn't
"millionaires". The problem is universities that seem to think
there's no end to the amount of money we'll throw at them - for a
degree to "nowhere".
Never met a millionaire who I wouldn't like to tax more!But
Elizabeth, you've left out a few first steps. First, Universities charge
way too much, probably because they pay way too much to their leadership and
lightly loaded prof's. Second, a degree leads to a good paying job, so the
student with that degree must be expected to try to pay back the loan. Third,
the student's family should be tasked (taxed?) with helping to repay the
loan, it's only fair, they avoided payment in the first place.After
my 3 ideas, I'm still all for taxing millionaires, sock it to em! Anything
over 500k per year should be taken.A flat tax is the ultimate unfair tax.
A flat tax is the non thinking man's approach to income tax reform.
Deductions should be re-ordered, some scaled down, some scaled up. But NO to a
flat tax. Got more opinions, another time.
Here's a quaint idea; DON'T take on more debt than you are willing
(and able)to pay off.Problem solved.What do millionaires
have to do with YOUR bad decisions?
Since the rich have been getting all those tax breaks for the last 30 years on
the premise they were going to create jobs and prosperity for all, I think they
should now pay back the treasury for their failure to do so.
Socialists and Marxists always love to spend other people's money, and
confiscate the earnings of others.Ms. Warren has a lot of hutzpah as
a former Harvard professor demanding confiscating earnings of OTHER people who
made a lot of money, but will probably exempt liberal professors and highly paid
lawyers. Of course, taking money from them to give it to their kids to pay for
school might be seen by some as being "an Indian giver."Too
many people go to college to start with, too many study worthless subjects, and
too many borrow money when they have no real likelihood of paying it back. Fix
those problems instead of stealing money from people who work.She
could confiscate every dollar earned by working Americans and still not come
close to paying off our deficits, let alone our national debt. It's not
that taxes are too low, it is that Congress is spending WAY too much!
@Dave4197 "Never met a millionaire I wouldn't like to tax more!"
Socialist."A flat tax is the ultimate unfair tax. A flat tax is
the non thinking man's approach to income tax reform" Your's is
the non-taxpaying man's approach to having other people fund your
laziness.If we continue to penalize success and reward laziness, more
people will become lazy and make comments like you have made. The
"rich" pay more than their fair share.
Capital exploits labor so it is OK to tax the wealthy at higher marginal rates.
Just restore 1950's rates and things will improve greatly (weren't
the 1950's great years for both capital and labor?).
Hey DN Subscriber - It is called the Buffet Rule. Since when has Warren Buffet
been a Socialist or a Marxist? Bill Gates is all for it too. Doesn't that
kind of trash your "Socialist and Marxist" theory?It's
a reasonable idea, but it could be improved.I think a special tax
should be Levied against Republicans to pay for some of the immense damage they
have done to this nation.
Yea, Elizabeth get those rich people, get those white people ,get those
hetrosexuals, get those folks who want to work instead of set on their porches
and suck off of the taxpayer tax,tax,tax oh and spend,spend,spend! Liberalism
A the cost today for a university degree is ludicrous. Universities
need to be held accountable for keeping costs down. Unfortunately, they are run
like a business. Govt educational assistance has allowed these colleges to just
charge more.While it is useful for Americans to supplement higher
education, maybe we could set guidelines for schools to follow if those funds
are to be used at those colleges.The cost of higher education, like
healthcare, cannot be justified.
So, Elizabeth Warren actually thinks that the absence of confiscation is an
investment. That's pretty scary, if you think about it.I will
officially invest in you, the reader, today by not confiscating all of your
assets. Aren't you grateful that I am such a generous investor?
Continuing to raise taxes on the "rich"= Detroit!
How to make college affordable? In the 1970's it was. It was possible at
that time for a student who was living at home to work all summer and use that
money to completely pay for books and tuition the following academic year.
Between then and now something has changed. Identify in detail what those
changes are so we can go back to the way it was then.Short of doing
this, attempts to make college affordable won't succeed.
Please, let's leave the rich alone! They do so much for us and inspire us
to be such better and more successful people and they ask so little for doing
so. Some of us just have to face the fact that the rich are simply there because
they work harder and are better at keeping their noses to the grindstone than
the rest of us. If we want to be like them, we can't over tax them and then
they might say, "Well, no duh--if these Americans don't appreciate me,
I'll take my money to Canada!" Plus, lets not have all this class
warfare stuff. We are not as strong as the rich and we could never stand up to
them. Plus, we have lots of distractions like video games and shopping at
Walmart for low low prices.
Hi JoeBlow,"The cost of higher education, like healthcare,
cannot be justified."Let's examine that claim. The average
weekly earnings for someone with a Bachelor's Degree are $1,066 while the
average weekly earnings for someone with a High School Diploma are $652 (source:
BLS). That's a difference of $414 per week.Assuming that
someone works for 30 years, that's $414 x 52 weeks x 30 years, which equals
$645,840 in additional earnings due to having a Bachelor's Degree.Any investment of less than the additional earnings would be justified.
Well then, Hawkeye, they should be able to pay off their own loan,
shouldn't they? The problem is averages aren't telling the whole
story. There are many people go to college who don't graduate, and there
are many more who go to college and don't earn more than if they
hadn't gone. Those are the people who shouldn't be in college, or
shouldn't be taking out loans.The bigger problem is the more
money you throw at colleges, the more expensive they get, and less efficient
they become. Effectiveness should be measured by outputs, not by inputs, and if
colleges are graduating people that can't afford to pay off their loans
that is evidence that they are not effective and efficient.Another
problem with loans as those who take them out don't spend that efficiently.
"That which we achieve to easily we esteem too lightly."
problem isn't millionaires, i=the problem is the poor. Focus should be on
helping those that want to work hard to become millionaires. Takers continue to
want to rob the makers. Mitt was right.
Some Bachelor's degrees simply do not pay, though.I think that
was the disconnect for college students who have already graduated with all this
debt, and perhaps the same disconnect for their parents.I do keep
hearing that the newest generation of college age adults are inspecting their
choices. But I'm just not sure I believe that entirely. Any forethought
will make for an improvement, but that's their responsibility, not some
millionaire's.The longer that we coddle adolescents, the more
childlike they are when they have to make these decisions regarding debt. If the
parent is convinced that "any" degree will help their child, they aid
the justification for taking it on, when a degree in Philosophy doesn't
make much financial sense.And if you think financial sense in a
college degree doesn't matter, YOU go ahead and pay for their debts.
I'm not and I'm glad for that.
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