Will America experience a Lost Generation?
As many as 68 patriots were arrested as they occupied the state capital in California Monday night – protesting against planned cuts to education. With tuition fees soaring – hundreds of demonstrators descended on the capital building in Sacramento calling for a tax on millionaires to help fund public universities in the state.
Over the last five years – tuition at public universities in California has doubled – and - along with it - so, too, has outstanding student debt. For the first time in world history – student debt outweighs credit card debt in America – with students around the nation more than a trillion dollars in the hole.
In November – voters in California will have a chance to approve a referendum to raise income taxes on those making more than $250,000 a year and divert that revenue to education budgets. We just learned that in 2010 – 93% of all income gains in America went to just the top 1%. It’s time for that 1% to pay their fair share in taxes to make sure America doesn’t experience a lost generation.