How will students pay for soaring debt? Tax the rich, Senator Warren says
Senator Elizabeth Warren laid out a new plan last week that would tax millionaires and use that money to help debt-saddled students refinance their loans.
"Do we invest in students or millionaires?" she asked at the Center for American Progress, saying she plans to introduce a bill that would revise the tax code to enact the Buffet rule.
The Buffet rule, named after billionaire Warren Buffet, would tax individuals and businesses that make more than $1 million. The measure, which stalled in Congress, would raise $50 billion in revenue and ensures that millionaires don't pay lower taxes than the middle-class.
Meanwhile, student-loan debt has soared to $1.2 trillion and growing. Warren's plan would allow students to refinance at lower rates, and the cost would be covered "dollar for dollar" by the Buffet rule.
More at: http://www.deseretnews.com/article/865598448/Elizabeth-Warren-Tax-millionaires-to-refinance-student-debt.html