Source: CPBB
How does this make sense to you…Republicans want to pass an additional $1 trillion in taxes per year mostly for the rich but we can’t afford to subsidize student loans for the cost of $6 billion a year. We’ve been down this road before (see graph); you’ll here this argument that if we don’t continue to offer bigger tax cuts for the wealthy then the economy will struggle for they are the “job creators” but in the same breath – Republicans are arguing for “smaller government” which means huge cuts to education via helping maintain lower tuition for college students along with a whole host of other cuts that the average person does not understand are subsidized through THEIR tax dollars.
I’ll tell you what will kill the American economy…an uneducated workforce. A workforce that isn’t ready for the 21st century…a workforce that can’t innovate and adapt to the times. That’s what will kill us. So – they’re priorities are all screwed up.
The NY Times writes:
House Republicans say the country cannot afford the $6 billion a year that it costs to pay for the lower rates. The Ryan budget, recently approved by the House, would allow the rates to double, and, at the same time, would cut taxes by $10 trillion over a decade. Representative John Kline Jr., the chairman of the House Committee on Education and the Workforce, said keeping the rates low would mean “piling billions of dollars on the backs of taxpayers.”
Instead, Republicans would rather pile that burden on the backs of taxpayers-to-be, specifically the 7.4 million students who now have federally subsidized Stafford loans and the millions more who will need them. At a time when many graduates are desperate for jobs, the interest rate increase would add an average of $1,000 a year to their debt. Already, many Republican lawmakers around the country have made it clear that they don’t even want students to vote, imposing identification requirementsthat would keep students away from polling places.
