Cantor: Taxing The Rich Off The Table, But Making Students Pay More Immediately Is Fine

[kpete]

Source: Think Progress

Cantor: Taxing The Rich Off The Table, But Making Students Pay More Immediately Is Fine

By Zaid Jilani on Jul 12, 2011 at 10:45 am

One of the major demands that almost all congressional Republicans have made about deficit reduction is that wealthier americans and large corporations shouldn’t have to pay any more in taxes. “The House has taken a firm position against anything having to do with increasing taxes or raising tax rates,” said House Majority Leader Eric Cantor (R-VA) at the onset of negotiations over the budget deficit in May.

Yet as the Daily Beast’s Howard Kurtz reports, one group that Cantor is apparently fine with making pay more is American college students. Cantor, at the White House for budget negotiations, apparently proposed that students who take out student loans should immediately start paying interest, rather than getting to make payments after graduation:

*****As Monday’s White House budget talks got down to the nitty-gritty, Eric Cantor proposed a series of spending cuts, one of them aimed squarely at college students. The House majority leader, who did most of the talking for the Republican side, said those taking out student loans should start paying interest right away, rather than being able to defer payments until after graduation. It is a big-ticket item that would save $40 billion over 10 years.

According to Kurtz, Obama rejected Cantor’s proposal out of hand, saying that he didn’t want to “screw students.” Cantor’s proposal comes at a time when American students are already overwhelmed by student loan debt. In 2008, the average debt that a college student graduated with was a whopping $23,000. American students continue to pay more than most of their developed world neighbors for a college education, and Cantor apparently wants to make it even more difficult for them while not touching the richest Americans.

Read more: http://thinkprogress.org/economy/2011/07/12/266192/cantor-taxes-students-pay/

[Sarah Ibarruri]

1. I am so sick of Repukes I can barely stand it. nt

[FreakinDJ]

2. So Tax Breaks for Outsourcing American Jobs is OFF the Table

they are determined to destroy America

[masonjason22]

5. Agreed

This

[FreakinDJ]

7. Welcome to DU

Lovely Crisis we have these days isn't it

[joeglow3]

3. How do they come up with the average?

If that is the average of all students WITH debt, that is not too bad, considering the average college degree translates into $1,000,000 in additional earnings over a career. If that is of all students (i.e. I greaduated with no debt), then I would be interested in seeing what the average is.


All that said, when discussing student loans, I would rather see an investigation into private universities like Baker University. These pieces of shit charge 5 times what a university or community college charge and usually give you a degree qualifying you for a job paying $30,000 a year tops. Essentially, they KNOW you will never be able to pay off your loans, but are allowed to continue to operate.

[kestrel91316]

4. Higher education is an entitlement program, silly. And college students

don't create jobs.

Is that clear now?

[QC]

6. You know, Cantor's opposition could make a lot of hay with a statement like that.

Too bad he has no meaningful opposition.

[OhioChick]

8. This asshole should go preach that at college campuses n/t

[Safetykitten]

9. Of course.

[Lucian]

10. College students (like me) are already eating ramen for meals.

How the hell would he expect us to start paying for loans right away???

What a douchebag.