Senate Dems offset cost of student loan bill with higher taxes on small business

[chanel]

Senate Democrats and the White House are seeking a one-year freeze in the interest rate. The $6 billion cost would be offset by limiting a tax provision that allows some owners of so-called S-corporations to avoid paying Medicare payroll taxes on their earnings, Senator Tom Harkin, an Iowa Democrat, told reporters yesterday.

Harkin said the legislation would require the Medicare payroll tax on income of more than $250,000 a year earned at S-corporations with fewer than three shareholders.

Millions of small, family owned businesses around the country are classified as S-corporations, and would be caught up in this tax net for no reason other than that they are small, and successful. And keep in mind that the profits which are credited to shareholders of S-corporations often remain in the business, funding the salaries of new employees and other investments.

The worst of it is that this a new, permanent tax on small businesses – $9 billion over 10 years according to the CBO - to fund the cost of just one year of the interest rate freeze ($6 billion). If this is the “right cause” then the cause isn’t long-term financial relief for college students, it’s the re-election prospects of Democrats in November.

Terrific: Senate Dems offset cost of student loan bill with higher taxes on small business « Hot Air

 

[Claudette]

How bout lets let the Students fund their own college educations and leave small business alone. Jeeze.

 

[Conservative]

Next up from the Democrats...'GOP wages war on students!'

 

[LoneLaugher]

The United States is not number one anymore when it comes to education. What is wrong with trying to be number one again?

 

[SniperFire]

Votes for sale!

 

[Conservative]

The United States is not number one anymore when it comes to education. What is wrong with trying to be number one again?

Why do we HAVE to be number 1 at anything/everything?

 

[DiamondDave]

The United States is not number one anymore when it comes to education. What is wrong with trying to be number one again?

Sure... work more to pay more for your own education as an adult.. and that could very well happen...

But it is not the responsibility of others, society, nor government to pay for your 'better' education simply because you want it

 

[Soggy in NOLA]

The United States is not number one anymore when it comes to education. What is wrong with trying to be number one again?

Because unfortunately, our education system churns out a lot of people like of you... people bereft of any independent or critical thinking; people indoctrinated with the attitude that the world owes them something.

Think about it, we have idiots borrowing tens of thousands of dollars to get masters degrees in Latin Studies.

 

[squinch]

The United States is not number one anymore when it comes to education. What is wrong with trying to be number one again?

Why do we HAVE to be number 1 at anything/everything?

If you're gonna be #1 in anything, education should be near the top of the list.

 

[Dr.Drock]

The United States is not number one anymore when it comes to education. What is wrong with trying to be number one again?

Why do we HAVE to be number 1 at anything/everything?

If you're gonna be #1 in anything, education should be near the top of the list.

Great point.

And ever since the invention of government run U.S. education, our education has plummeted and that will continue.

 

[Conservative]

The United States is not number one anymore when it comes to education. What is wrong with trying to be number one again?

Why do we HAVE to be number 1 at anything/everything?

If you're gonna be #1 in anything, education should be near the top of the list.

Not what I asked.

I asked why we have to be number 1 at anything? We cannot always be the best at everything there is, ever. Thinking we have to or should be is part of why some other countries have issues with the US.

People in here have talked about a 'sense of entitlement' among some people being a problem, and it is. Thinking we HAVE to be #1 at everything is a sense of entitlement.

 

[Katzndogz]

The problem is NOT with student loans. Students would be happy to pay off student loans if they could get jobs. The problem is that students are taking out hefty loans so they could get worthless degrees that render them basically unemployable. Now they can't find work because none exists, and they are saddled with enormous debt.

China is addressing the problem by eliiminating majors that produce unemployable graduates. We should do the same.

China to Cancel College Majors That Don't Pay - China Real Time Report - WSJ

China’s Ministry of Education announced this week plans to phase out majors producing unemployable graduates, according to state-run media Xinhua. The government will soon start evaluating college majors by their employment rates, downsizing or cutting those studies in which the employment rate for graduates falls below 60% for two consecutive years.

A graduate with a degree in Engineering is not equally as employable as a graduate with a degree in Pre-Colombian Pottery.

 

[Dr.Drock]

Punish capitalism to pay for gov't. This is a democrat's wet dream.

 

[LoneLaugher]

Is it better to be #1 or #12 when it comes to education?

 

[LoneLaugher]

The United States is not number one anymore when it comes to education. What is wrong with trying to be number one again?

Because unfortunately, our education system churns out a lot of people like of you... people bereft of any independent or critical thinking; people indoctrinated with the attitude that the world owes them something.

Think about it, we have idiots borrowing tens of thousands of dollars to get masters degrees in Latin Studies.

You are a talking point waiting to happen on every fucking issue. Bereft of any independent or critical thinking? Do you even think at all?

 

[DiamondDave]

Is it better to be #1 or #12 when it comes to education?

Is it better to rely on government or to do for yourself as an adult?