View Poll Results: Are high student loan interest rates a form of tax on the middle class?

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Thread: Are high student loan interest rates a form of tax on the middle class?

  1. #151
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by Geoist View Post
    So then sales tax isn't a tax?
    Yes it's a tax. You are forced to pay it if you buy something and buying things is as a practical matter unavoidable. You are forced directly to pay property taxes if you own property and indirectly if you rent. You are similarly forced to pay interest on a Federally guaranteed student loan if you take one out but you are not forced to take out student loans to finance your education. You have many other alternatives. That is a significant difference and what at heart makes interest on student loads not a tax.

    And don't construe any of that to mean that I think student loan interest rates aren't too high - I have no opinion on the matter. I'm simply saying it isn't a tax given the normal usage of the term.
    Don't be a grammar nazi - Marcus Aurelius, Meditations, Book 1 #7

  2. #152
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by Cephus View Post
    Then get the people who gave her the car loan to give her money for school.
    Heh, heh - nice!

  3. #153
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by Gaius46 View Post
    Yes it's a tax. You are forced to pay it if you buy something and buying things is as a practical matter unavoidable. You are forced directly to pay property taxes if you own property and indirectly if you rent. You are similarly forced to pay interest on a Federally guaranteed student loan if you take one out but you are not forced to take out student loans to finance your education. You have many other alternatives. That is a significant difference and what at heart makes interest on student loads not a tax.

    And don't construe any of that to mean that I think student loan interest rates aren't too high - I have no opinion on the matter. I'm simply saying it isn't a tax given the normal usage of the term.
    You know our economy's in trouble when people argue that college students are being gouged and taxed to death because the subsidies they receive don't reduce the interest rates they pay to the point that they're on par with rates paid by the federal government.
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  4. #154
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by Cephus View Post
    Of course it's not. 6% is not a high interest. If you want a high rate of interest, pay your college on a credit card at 22%. People need to stop whining.
    Ah, so Department of Ed should be profiting more than $40 billion from student loans?

    The hypocrisy of conservatives makes me chuckle.
    "Men did not make the earth ... it is the value of the improvement only, and not the earth itself, that is individual property... Every proprietor owes to the community a ground rent for the land which he holds." -- Thomas Paine, Agrarian Justice
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  5. #155
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by SMTA View Post
    And if you don't like the interest rate, don't get the loan. Problem solved.
    If you don't like President Obama then just move to another country.


    See how productive that argument is?
    "Men did not make the earth ... it is the value of the improvement only, and not the earth itself, that is individual property... Every proprietor owes to the community a ground rent for the land which he holds." -- Thomas Paine, Agrarian Justice
    http://www.wealthandwant.com/

  6. #156
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by Geoist View Post
    Ah, so Department of Ed should be profiting more than $40 billion from student loans?

    The hypocrisy of conservatives makes me chuckle.
    They can do what they want to do. You can choose to take advantage of the offer made or go elsewhere.
    There is nothing demonstrably true that religion can provide the world that cannot be achieved more rationally through entirely secular means.

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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by Gaius46 View Post
    Yes it's a tax. You are forced to pay it if you buy something and buying things is as a practical matter unavoidable.
    You don't have to buy anything. Some people get along fine with the simple non-consumerist living.
    "Men did not make the earth ... it is the value of the improvement only, and not the earth itself, that is individual property... Every proprietor owes to the community a ground rent for the land which he holds." -- Thomas Paine, Agrarian Justice
    http://www.wealthandwant.com/

  8. #158
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by Geoist View Post
    Ah, so Department of Ed should be profiting more than $40 billion from student loans?

    The hypocrisy of conservatives makes me chuckle.
    The way I understand it the $40 billion is used to administer the loans
    and provide funding for the Pell grants for low income students.

  9. #159
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by Gaius46 View Post
    I have no opinion on the matter.
    So you don't think its ridiculous that Dept. of Ed is profiting $40 billion each year from student loans? Would think a libertarian would have a strong opinion on such a matter...
    "Men did not make the earth ... it is the value of the improvement only, and not the earth itself, that is individual property... Every proprietor owes to the community a ground rent for the land which he holds." -- Thomas Paine, Agrarian Justice
    http://www.wealthandwant.com/

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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by Cephus View Post
    They can do what they want to do. You can choose to take advantage of the offer made or go elsewhere.
    Go elsewhere? I'm sorry, but not going to college was absolutely not an option in my family.

    And, no they cannot simply "do what they want to do." This is a democracy, not a dictatorship. And there is a movement within govt and outside govt to lower those interest rates.
    "Men did not make the earth ... it is the value of the improvement only, and not the earth itself, that is individual property... Every proprietor owes to the community a ground rent for the land which he holds." -- Thomas Paine, Agrarian Justice
    http://www.wealthandwant.com/

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