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. #51
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by Redress View Post
    Well, no. While taxing is one way that the government brings in revenue, it is not the only way. A student loan is not a tax. Tax means something other than interest from a loan.
    Sorry yes. When the government takes money directly from citizens to fund the services it provides to such it is called a tax. If the government is profiting from the excessive interest rates that it charges for the loans, such can be viewed as a tax as that money is directly coming from income from citizens. Although there is a difference in the mechanism in which the funds are extracted, the principle of taking money to fund government operations is the same.

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

    Quote Originally Posted by MildSteel View Post
    I was talking to one of my daughters today. She was saying that it is ridiculous that the interest rate on her car loan is only 3 percent while the interest rate on her student loan is more than double that. Such gouging is no more than a tax that is being imposed on the middle class. It is especially disgusting at a time when Republicans are proposing tax cuts that will benefit the wealthy.
    I've said the same to my parents. It makes no sense for the interest rate to be higher than that for a car loan. And if that gets you angry, check this out: Obama Student Loan Policy Reaping $51 Billion Profit

    Bottom line is interest rate should be high enough to cover upkeep and nothing more. Government is not a corporation. It should not act like one.
    "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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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by Redress View Post
    If I was to make a list of the top 1000 issues facing the middle class today, student loan rates would not even make the list.
    I would like to see that list.
    "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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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by cpwill View Post
    True enough. The average person can still get through college, they just have to work at it (maybe that's the problem?)

    Which doesn't mean that the federal government should be making it harder by jacking up college costs.



    What percentage of student loans are non-performing? Seems a rather relevant figure to the OP.
    College costs are an issue, and one that should be looked at in detail. Student loans themselves, not so much. They are provided to help people pay for college, they are not intended as a go to college free card.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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

    Quote Originally Posted by Redress View Post
    It is a situation those young people can control. Don't want to pay for a student loan, do not get one. There are in fact other options. Complaining you have to pay for a service is kinda sad.
    Again your post demonstrates the type of elitist callousness that is sadly apart of the liberal establishment today. You have this Alan Dershowitz, Jeffery Epstein crowd who really don't have an interest in egalitarian liberal economic principles, but rather their interest is in providing for their personal security in terms of protecting their ethnic interests, financial interests, and providing cover for their personal behavior. As such they adopt the mantle of liberalism, but in reality, they have very little compassion in their heart for the suffering of others. That type of deception is truly what is sad.

    That said, actually the young people of today have very little control over the job market in terms of the types of jobs that will pay a living wage that are available, the interest rates that they will have to pay for funds in order to get the type of education it takes to get such employment, and the rather high tuition rates that are a result of the systemic problems associated with, but not excluded to, fractional reserve banking. Therefore what you have put forward makes little practical sense.

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

    Quote Originally Posted by MildSteel View Post
    Sorry yes. When the government takes money directly from citizens to fund the services it provides to such it is called a tax. If the government is profiting from the excessive interest rates that it charges for the loans, such can be viewed as a tax as that money is directly coming from income from citizens. Although there is a difference in the mechanism in which the funds are extracted, the principle of taking money to fund government operations is the same.
    Or it could be a fee. If I pay admission to a state park, I have not paid a tax, I have paid a fee.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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

    Quote Originally Posted by Redress View Post
    College costs are an issue, and one that should be looked at in detail. Student loans themselves, not so much. They are provided to help people pay for college, they are not intended as a go to college free card.
    The problem being, when government is your provider, that is how they are used. Student loans are one of the major drivers of college costs because they make consumers insensitive to price increases.
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    Re: Are high student loan interest rates a form of tax on the middle class?

    Quote Originally Posted by MildSteel View Post
    Again your post demonstrates the type of elitist callousness that is sadly apart of the liberal establishment today. You have this Alan Dershowitz, Jeffery Epstein crowd who really don't have an interest in egalitarian liberal economic principles, but rather their interest is in providing for their personal security in terms of protecting their ethnic interests, financial interests, and providing cover for their personal behavior. As such they adopt the mantle of liberalism, but in reality, they have very little compassion in their heart for the suffering of others. That type of deception is truly what is sad.

    That said, actually the young people of today have very little control over the job market in terms of the types of jobs that will pay a living wage that are available, the interest rates that they will have to pay for funds in order to get the type of education it takes to get such employment, and the rather high tuition rates that are a result of the systemic problems associated with, but not excluded to, fractional reserve banking. Therefore what you have put forward makes little practical sense.
    OK, this might confuse you, but I am not Alan Dershowits, nor Jeffery Epstein, nor am I any other liberal, and I am about as far from elite as it is possible to get. Bringing in other people to try and associate me with is pretty lame and a failure as arguments go.

    Young people today do have control over what kind of scholarships they get, whether they work while attending school, whether they have access to the GI Bill, and so on and so forth. Student loans are far from the only way to attend college.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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

    Quote Originally Posted by MildSteel View Post
    Sorry yes. When the government takes money directly from citizens to fund the services it provides to such it is called a tax. If the government is profiting from the excessive interest rates that it charges for the loans, such can be viewed as a tax as that money is directly coming from income from citizens. Although there is a difference in the mechanism in which the funds are extracted, the principle of taking money to fund government operations is the same.
    It is not a tax for the simple reason that you are not forced to pay it. You do not have to take a student loan.
    Don't be a grammar nazi - Marcus Aurelius, Meditations, Book 1 #7

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

    Quote Originally Posted by MildSteel View Post
    Again your post demonstrates the type of elitist callousness that is sadly apart of the liberal establishment today. You have this Alan Dershowitz, Jeffery Epstein crowd who really don't have an interest in egalitarian liberal economic principles, but rather their interest is in providing for their personal security in terms of protecting their ethnic interests, financial interests, and providing cover for their personal behavior. As such they adopt the mantle of liberalism, but in reality, they have very little compassion in their heart for the suffering of others. That type of deception is truly what is sad.

    That said, actually the young people of today have very little control over the job market in terms of the types of jobs that will pay a living wage that are available, the interest rates that they will have to pay for funds in order to get the type of education it takes to get such employment, and the rather high tuition rates that are a result of the systemic problems associated with, but not excluded to, fractional reserve banking. Therefore what you have put forward makes little practical sense.

    look in any newspaper

    jobs always available

    nurses
    engineers
    accountants

    here is an article on 12 common jobs that pay well after college

    12 Entry-Level Jobs with Big Earning Potential - Salary.com

    there are countless articles listing things every year

    certain degrees will always be in vogue

    and some degrees arent worth the paper they are printed on

    the idea is to have some idea on what you want to do....what you may have an affinity for.....and then go for it

    when i was going to school in 1979, journalism which was my first major was a brutal field to break into

    i changed my majors, and my career path to business/accounting because i wanted to make sure i could get a job

    chase a dream, or chase a dollar.....choices
    “Most of the shadows of this life are caused by standing in one's own sunshine.”

    Ralph Waldo Emerson

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