***Sorry for the rant**** Since most of my friends are students on here it’s important to read this. Republicans again blocked Elizabeth Warren’s bill Bank on Students Act which would allow us to refinance our loans at the current market rate (which car/homeowners can do). With Election Day right around the corner here are some excuses being spread by republicans on why they chose to block the bill: 1: it didn’t go far enough. Oldest cliché in a politician’s book. While this may be true, as Warren even says in her floor speech, it’s a reform in the right direction which needs to be done. If it doesn’t go far enough why haven’t republicans brought up their version of a student loan reform bill? Every democratic senator voted for this bill the last 2 times it has come up, so there’s a clear sign that liberals will work to resolve the issue. 2: My favorite, many don’t like how the bill would be paid for. The costs are offset by the “Buffet Rule” which would close tax loopholes and increase taxes on those who clear $1mil a year. This rule was coined by buffet after he publicly stated that billionaires like himself, because of the broken tax system, could pay less money per income than his secretary. (Tax would bring in an estimated 36.7 billion a year) 3: some say student loan debt isn’t the problem and we should focus on the rising cost of tuition. This is totally true, but again they have yet to put forth a plan. Loan debt is over 1.2 trillion-in contrast the mortgage debt in 2008 was about 3.4 trillion. With tuition and interest rates rising every year its only a matter of time before this bubble bursts and we are put in another recession. All this after they blocked a minimum wage increase, citizens united amendment to get big $ out of politics, and equal pay for equal work act in the last week to name a few. For the richest of the rich, big banks, corporate CEO’s and the like I see why you vote republican, and good for you. For the rest of us, students, minimum wage earners, WOMEN, remember who’s really representing your interests this November and realize government doesn’t have to be seen as evil and out to get you, instead trying to institutionalize equality for all, because when we all succeed, America succeeds.
Posted on: Thu, 18 Sep 2014 19:53:44 +0000
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