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Helping individuals with crushing student loan debt: it’s an outrage!
I thought that the Right claimed to support individuals rather than “the collective” (ie institutions and organizations).
WRONG-it was a big problem for many of us. Why reward corporations, any more than individuals, for bad decisions? Poorly run banks should have been allowed to fail. But they paid enough in handouts to Obama to get their handouts, just like the "stimulus" crowd did.
Bernie, claims wall street has to pay for student loans, but wants to pay that through a tax on Wall Street which results on every 401K being taxed!
I suppose the 0.5% tax on stocks and 0.1% on bonds would kick in when you cash out.
I am not a huge fan of these kinds of ideas, but I do wonder how anyone like you would sheer 25% taxes on imports which buys us nothing, and then cry about 0.5% tax on financial transactions.
Yep. Every 401K, every IRA, every pension... They will ALL be taxed to pay for Bernie's plan.
No, only transactions would be taxed 0.1%-0.5%. You misunderstood what you heard. Or maybe you heard it from FOX, in which case they wanted you to misunderstand.
Quote:
Sanders will fund his student loan forgiveness plan through a new tax on financial transactions, which he expects could raise more than $2 trillion over the next 10 years. The tax plan will include a 0.5% fee on all stock trades, a 0.1% fee on all bond trades and a 0.005% fee on all derivatives trades.
The irony is that this is a massive transfer of wealth to the upper class. The numbers on people who hold a lot of student loan debt are staggering, they are ALL upper and upper middle class. Poor people don’t go to college and the ones who do go to cheap community colleges and/or receive grants/aide. 95% of the people holding 50k or more in student debt are well off!
The irony is that this is a massive transfer of wealth to the upper class. The numbers on people who hold a lot of student loan debt are staggering, they are ALL upper and upper middle class. Poor people don’t go to college and the ones who do go to cheap community colleges and/or receive grants/aide. 95% of the people holding 50k or more in student debt are well off!
No. Those earning less that $100K would receive the largest benefit, and the more you make the less you benefit, and those making $250K or more receive nothing.
These kind of ideas are DOA, because it is simply not fair to those who already paid off loans, and especially those who paid it off aggressively. Such proposal will never have enough support to pass Congress.
As for the poor, assuming it passed, many poor would be motivated to attend college since money is no longer an obstacle. Education is by far the best way to fight poverty.
Also, it would not be a transfer to upper class, since the upper class are the ones trading in the stock market, so they would be paying for it. The poor don't invest.
The middle class always ends up paying for everything. (It certainly won't be poor who are net takers or the ultra wealthy who can hire people who know all the loopholes and sleight of hand to avoid taxes)
The middle class always ends up paying for everything. (It certainly won't be poor who are net takers or the ultra wealthy who can hire people who know all the loopholes and sleight of hand to avoid taxes)
Correct.
But the middle class usually sides with the ultra wealthy and not the poor. Why? Because the middle class can’t see the money being taken from them by the ultra wealthy. But the middle class can easily see the money being taken from them by the poor, by looking at their tax bill.
Public universities are not that expensive. For example, my daughter finished K-State 3 years ago - $52K all included (housing, tuition, food, etc) for 4-years BS degree. And it's an ok loan amount these days, although I think price is at least twice more than it should be. One way of reducing pricing would be to prohibit college sports (stadiums and other nonsense) - that where most tuition money goes, instead of actual teaching. But again, it's not a disaster loan for someone who is choosing specialty that is needed by job market, instead of "leisure"/useless specialty.
But those who are stupid enough to go to private colleges instead, and take $200K loan for 4 years degree for some stupid specialty that no one ever needs - well, they are just plain stupid. Why should anyone pay for their stupidity?
Med school loans are a different kind of story though...
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