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GOP Tax Plan IX: Bailouts vs Students

So we’re the country that can spend $29 trillion bailing out companies who trashed the economy in 2008 (this was the calculation done by the Levy Institute, which among other things tracked toxic asset purchases). But we need revenue so bad that we have to tax graduate students on the value of their tuition waivers. And we have to charge student borrowers interest 6% over what we charge banks, even though their loans are literally zero risk (since the Federal government guarantees them). And we have to end the student loan interest deduction – because we need revenue so badly – even though businesses get to invest in capacity and write off the cost, our students do not. What kind of a country is this? For the cost of the 2008 bailout we could send every kid in this country to college for 100 years!

One Response to “GOP Tax Plan IX: Bailouts vs Students”

  1. daniel says:

    You know you live in interesting times when an article about a major policy issue in a national magazine begins, “It’s difficult to say whether the tax legislation Republicans are driving through Congress qualifies as a revenue bill—or an enemies list.”

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