Published: Tuesday, March 11 2014 6:15 p.m. MDT
@cjb " 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."It's pretty easy to
explain. Most higher ed is public. States has steadily lowered their subsidy
of higher ed. Sallie Mae, the agency which makes student loans was sold off to
commercial banks which made it a profit center. And this whole process was
compounded by a stagnant real wage from the late 1970's 'til now -
this makes the educational expense really bite. There you have it - a perfect
storm for young people. See "Inequality for All." for more details.
Whats foolish is that student loans have interest rates of at least 8% while the
government loans billions to banks at less than 1%.If anyone wants to talk
about something foolish, try to justify that.
What fools! Here is my challenge! If what all the progressive socialists say
is true, then let's just confiscate all their wealth, nationalize all
corporations and by law equalize every wage in the country! Surely, surely,
then everyone will be happy and peace will reside in the heart of every man,
women, and child, but especially the liberal progressives!
What is preventing Buffett and Gates from paying more in taxes? They should
just pay 90% of their earnings every year. Stop whining about it and do it.
All of the other liberals should raise their own taxes too. That way we
wouldn't have to hear the constant complaining from them. I say use the
same funding system as God does and tax everyone at a flat rate. Lets say 15%.
That would work. Seems to work for the LDS church.
@Al Thepal "Most millionaires and billionaires have earned their
money." They "work" at protecting and expanding their fortunes.
But they don't sweat like us of the middle class. They can hire any sort
of expertise they need to protect themselves. An interesting example is sugar.
Why do we have to put up with fructose corn syrup in our pop, while the rest of
world gets to drink real pop with sugar? The big sugar billionaires of Florida
have paid both the major parties to keep sugar tariffs high. So sugar is
artificially expensive in the U.S. This is just one example among many. It's important to understand the difference between the world of
high finance and the one most of us live in. It has a bearing on everything
including the student loan disaster.
There must be an election coming because the Democrat machine of class warfare
is ramping up again.
Let me simplify her thinking for everyone. "So we need more money to spend.
Hey, those guys have money. Let's take money from them because they have
some and I want it. We deserve their money because they have more." The
A lot of interesting responses here. If there are circumstances where
Millionaires pay less tax than middle class folks, that should be examined. So
she might have something here. Of course its a politician saying it so the
claim should be looked into.
@David "There must be an election coming because the Democrat machine of
class warfare is ramping up again." You mean we actually have
"classes," like in class struggle like in Marx?
Unfortunately, Elizabeth Warren learned the wrong lesson from Robin Hood. As Ayn
Rand put it:"It is said that [Robin Hood] fought against the
looting rulers and returned the loot to those who had been robbed, but that is
not the meaning of the legend which has survived. He is remembered, not as a
champion of property, but as a champion of need, not as a defender of the
robbed, but as a provider of the poor. He is held to be the first man who
assumed a halo of virtue by practicing charity with wealth which he did not own,
by giving away goods which he had not produced, by making others pay for the
luxury of his pity."Senator Warren, please don't use the
money that I have earned and achieved myself to pay for your pity.
I worked in the evenings during school year (2 jobs in the summer), served in
the church, and had a small family with no debt. My wife and I both graduated
the same day. Now we have a business with 300+ employees. Takes hard work and
sacrifice but can be done. Worth the effort. Frustrated with government's
proposed solutions - an indication of how far off track this country is.
Ender,What you failed to mention about Robin Hood is that he was not
stealing from the rich - he was stealing oppressive tax money back from the
oppressive government and returning it to the over taxed people. He was exactly
the opposite of a social justice crusader. He would have been throwing tea in
Boston Harbor.Marxist - Conservatives want everyone to have the
opportunity to attain any "class" in society (ie. no classes). Liberals
are trying to create the classes and keep everyone there.
To "marxist" I will agree to restore the 1950's tax rates if we can
also revert the entire tax code to teh 1950's.
@PPI agree with you. The problem is not Robin Hood, but the lesson that
Democrats have learned from him. Please reread the quote. To Elizabeth Warren,
Robin Hood was not a champion of property (as you suggest), but a champion of
need. And therein lies the problem!
Some have argued that the rich should "pay their fair share" in taxes.
What is their "fair share"?The top 10% currently pay 70% of
federal income tax, even though they earn only 45% of income. 70% isn't
fair? What is fair? 80%? 90%? Should the top 10% of earners pay all of the
taxes?Seriously, liberals keep using the term "fair share"
but never tell us what that is.
Oh, I forgot to mention. After you read this article, read the article
"Borrowers using student loans for cash, not a degree", also in
today's news.Now tell me why we should make it easier for
people to get quick cash, and then make it cheaper to pay back?
Agreed on the Flat Tax comment. This is the only real way to do taxes in the
first place. This would be a progressive tax already, and fair to the lowest
income earners (there is a poverty level income where nothing is taxed and
everything else above that is taxed at the same rate).There is a
great book on this called The Flat Tax, a must read for any serious student of
The proposal is not foolish. Millionaires get rich off of others who pay for
their products or work for them. Since the Reagan years, the trickle down theory
began and since then, prices have skyrocketed. It does NOT work. It
used to be affordable back in the 70's. Find out why and go back to those
days on how colleges were funded. Also colleges are not being built like they
used to. So many colleges are filled up and hence the reason it is costly.
It's a paradox isn't it? There is a Sales Tax where it
will be put in place and no more will we have federal taxes. It will become the
pay taxes as you go. It's a good plan and gaining momentum. The Fair Tax
Organization is pushing for this and it's looking good. Bottom
line is students are paying way too much for college on the average part. To
blame the student is illogical. The student is trying to work hard towards
graduation and looks forward to doing good work. It is hurting our nation when
our average students are forced to go into deep debt.
@AllBlack and like-minded. I believe those who are using terms like "bad
idea",etc., ARE offering up ideas. But progressives don't acknowledge
such. One such idea is to not focus on hitting the rich with more of their
"fair share" when what is "fair" has not been fully defined; and
when you actually look at it the top 10% pay %70 of the taxes already. This
student dept (or government debt) issue has multiple causes, but it is
guaranteed that further taxing the rich (however good that makes the non-rich
feel) as a means of addressing the underlying problem will not solve the
problem. In fact, Warren's proposal would actually make it worse. Part of
the problem with ever rising tuition costs is the loan program itself. You can
research that if you care. Personal responsibility and accountability (or lack
thereof) is another contributing factor. Fixing loopholes in the current tax
code would help. Pursuing degrees that don't lead to an income stream
sufficient to support oneself and pay back the loans is a problem. Gov charging
8% interest is yet another issue. Why is it that higher taxes and more spending
is usually the only progressive solution?
I think calling it the Buffet rule is appropriate, because liberals see higher
taxes as a Dinner Buffet, where they can keep funding new entitlements. First stop: Use taxes on millionaires to fund loans for higher
education.Next stop: you can choose a "public option" for
lower cost education if you go to a liberal school, or you can pay "Gold
Level" tuition rates if you go to a conservative university. Social
engineering at its finest. That would buy lots of Democrat votes.Final stop: a single payer system for education, all funded by the federal
government. Of course, the government would totally dictate what is taught.
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