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Comments about ‘How will students pay for soaring debt? Tax the rich, Senator Warren says’

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Published: Wednesday, March 12 2014 4:51 p.m. MDT

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Frustrated Mom
Plano, TX

I agree with MD a FLAT TAX would be great. it should be for everybody and if the 50 % who aren't paying taxes would pay something that in its self would make a huge difference.

JoeBlow
Far East USA, SC

"Any investment of less than the additional earnings would be justified."

That is certainly one way to look at it? But, not really valid.

Are you sincerely suggesting that the cost of an education should be tied to earning potential?

Why would we not tie it to the cost of providing that education?

Chris B
Salt Lake City, UT

Even a so-called flat tax is not truly a flat tax.

A flat tax would call for each citizen to pay for the govt resources they use; each person would pay about the same in taxes.

A flat tax rate still ends up with rich people paying for the resources that I use.

And that's not right.

Only a lazy person would suggest a rich person pay for my and their share of resources used

E Sam
Provo, UT

Excellent proposal, but it doesn't go far enough. College education should be free for all Americans.

Peter R
Provo, UT

The LDS Church has the Perpetual Education Fund, which makes student loans to those wanting to improve their earning potential through education. In order to take advantage of these funds, a student must take a financial management course. I wonder what the payback rate of student loans would be if the same were true of government student loans.

What's missing in most government programs is accountability. People are allowed to receive help, but little to nothing is required in return. Requiring an accounting of what people do is a great way to help those people be more responsible with what they're given (and, often, to feel better about themselves in the process).

rok
Boise, CA

so, you're going to tax the rich so kids can make sure to borrow enough money to throw raging keggers and live opulent (for a student) lifestyles? How about reducing college costs by not requiring unnecessary classes that are only created to give humanities graduates tenured jobs as professors.

NewAdventures
Cottonwood Heights, UT

Taking from the rich to help pay for people's education is not the way to go. Can you go to college and graduate with no debt? Absolutely YES! This can be easily done! I did this myself and had plenty of cash left over when I graduated. I started saving for college when I was 12 years old. Every dollar I made I saved and put towards college. I also invested this money in these so called evil corporate money mongers. And thanks to these corporations, they helped subsidize my college education. I also worked during college, and worked my butt off during the summer. These college kids need to get jobs and learn how to save instead of going and partying every night. Or even better, study harder and earn a scholarship. Too many people think they deserve entitlements and everything should be taken care of for them. If you want something badly enough, you'll do whatever it takes to get it.

Hey It's Me
Salt Lake City, UT

I have seen how some students spend their loans, and it's not all on school. Also if we start paying for all these kids to go to college than their parents can buy new cars, TV's and other luxuries that I couldn't afford when I paid for my students college. Pay your own way, I am tired of the government trying to figure out more and more ways to give people free things. Work for what you want. There really are plenty of jobs. . . it's just whether we are willing to work them. My kids worked all through college to help pay for their education. Americans need to quit being so lazy and be self-sufficient.

Oatmeal
Woods Cross, UT

Chris B,

No person lives in a vacuum. Take a look at the federal and state budgets. How much of it are you willing to pay for? We use roads that cost billions. Our liberty is defended by human beings, aircraft carriers and ballistic missiles. Our economy and future income is supported by intelligent people using private and government investments in research. So is our health. Our future economic and physical well-being will be determined by how educated the next generation is. The forests and national parks we recreate in are supported with tax dollars. How do we determine what resources you use or will use?

Oatmeal
Woods Cross, UT

The American system is amazing. I would argue that the wealthy top 1% actually do utilize and benefit from our system MUCH more than the middle or lower classes do. And their wealth is generally based upon the incredible human capital found in this nation. They would never become as wealthy or maintain that wealth and liberty so easily in other political or economic systems! They should pay their fair share to build and support that system. It is NOT a penalty, it IS the price of future success. And the cool part is we lift each other in the process.

Strider303
Salt Lake City, UT

I am generally in agreement with a flat tax idea. Perhaps set a minimum income level, say poverty line for openers, and then a flat percentage of income above it. Deductions will be the fight, as children, mortgage and charity would be fought over. But on the up side, it would reduce accountant and tax preparers. The "loop holes" reside in charitable deductions such as religious, university endowments, "cultural" entities. The rich and powerful people and institutions know how to lobby legislatures to protect the status quo so in reality our ranting is futile.

I would propose, albeit a modest one (apologies to Adam Smith), that all students in high school and then again in any and all post high school education, including military service be required to successfully complete Dave Ramsey's course, or a similar one in personal finance management, in the first semester of college or senior year of high school or upon graduation from basic training (their minds are too messed up in Basic). Poor personal economic choices are the heart of debt.

Stop the purchasing on whim or ignorance of consequences and you have a big first step.

theSkeptic
CLEARFIELD, UT

Obviously, I misread the that the Constitutional guarantee that everyone is entitled a college education and the "rich" don't deserve to keep what they earn. Most importantly, that a Democrat has no qualms about steeling money from someone's pocket to pay for their pet project.

Western Rover
Herriman, UT

The government should not be backing student loans without regard to whether the particular course of study will raise the particular student's earning power enough to repay the loan. An applicant for a student loan must be able to show a specific plan for repaying it, similar to the plan that an applicant for a business loan must draw up. This requirement would stop students from taking on debt for useless degrees.

bandersen
Saint George, UT

The stampede of liberal progressives in loud acclamation can be heard! Leave it up to a patronizing, corrupt politician to solve a problem they created! The wealthy are never hurt by scheming politicians! The senator knows this, but she also knows that people that have naively been taken advantage of are also looking for another bailout! Picking on the wealthy is convenient, especially in an era when no one wants to take responsibility for any mistake, especially the politicians who love to scheme and pretend that they are servants when master is the the right word! only the foolish and naive will be fooled by this charade, but there will be many who will leap in with both feet!

Cats
Somewhere in Time, UT

You know, I thought we had learned our lesson in the thirties. I thought we had learned that these ridiculous socialist ideas just don't work. The New Deal was such a disaster and it almost completely destroyed our country. Thank goodness the Supreme Court saved the nation by declaring it unconstitutional.

I guess it's really true--the main thing we learn from history is that nobody ever learns anything from history.

Wildcat
O-town, UT

Wow, when we pay oil companies millions of dollars in subsidies, it is an investment (according to the oil companies), but when we want to make college more affordable, that is leaching off the rich. I would rather my tax dollars go to promote an educated and skilled society.

I would love to see how many of you would have responded to the Savior when he told his disciples that the widow who threw two mites into the treasury had given more than anyone because everyone else had given out of their abundance, and she had given out of her need, even all her living.

I can just imagine what you would say, "no, two mites isn't worth more than what the Pharisees gave," "Don't punish the Pharisees, they are the job creators," "Are you against the free-market principle of the money changers?" "Do you hate successful people?"

What is sad today is that widow paid more than many corporations today because they paid zero through using loopholes. Instead of being upset at that fact, many on this board are upset that somebody doesn't make enough to pay Federal Income Tax. Wow!

AllBlack
San Diego, CA

I'm shocked with some of the words chosen in these comments: foolish proposal, dumb idea, class warefare, Socialists and Marxists, get the rich people, and so on..

I'm shocked because they attack the person and don't actually debate the idea. Really is there anything wrong with having the rich pay the same rates as the middle class? Or a bit more?

I guess the rich won't like it too much, well no one likes to pay taxes, but they will continue to be rich after paying their taxes. The others who defend them here will continue to still not be rich as the rich keep on getting richer.

Shawnm750
West Jordan, UT

@Oatmeal - Could you specifically explain your rationale of how the rich use more than everyone else? Most of them pay for their kids to go to private schools and college, and they still pay taxes which help pay for public schools. They also spend money on things like houses, cars and other things that are made by (surprise, surprise) people. Even when they go out to dinner and do other things, they're usually provided service by (again) people. When the rich spend money, it generates jobs. And more than one study has shown that the "1%" give far more to charity than most people. When we squeeze the rich, they spend less, the economy slows and that means less jobs. I'm all for fairness in taxes, but if you squeeze too much, the golden goose stops laying eggs.

louie
Cottonwood Heights, UT

We can argue all we want about what is fair and what is not fair but I have not read many comments that address the issue objectively. Since the 1970’s we have decreased the maximum federal tax rate from a high of about 70%. Since then we have also seen a decline in the financial security of our middle class citizens. By the way, that decline does not correlate with a lack of effort of our workers. Especially compared with most westernized countries and Japan, we take fewer vacation days and work more days per year. Our productivity has likewise increased significantly.

Compared to the 1970’s more households have mother and dad both working fulltime and Utah is high on that list. This is difficult and has to be a challenge to our family values The “trickle down” theory of allowing greater wealth to accumulate at upper income levels has not resulted in improved situations for the middle or working class. If the Rich are benefiting from the greater productivity and work ethic of their employees I submit they can and should pay a greater share of helping the rest of society.

Richie
Saint George, UT

SillyRabbit has an idea. Quit pumping out degrees for all those worthless liberal arts social ideas such as a masters in the study of animal waste and get back to the three R's. We don't need more shrinks we need scientists and engineers. We also need good teachers and professors that teach the three R's, History (as it really happened) and English.

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