I was listening to the radio the other day (on another station). These people were talking about raising interest rates to pay for the deficits and start paying down the debit. This is a solution that will kill any recovery that we are experiencing. Small business people will not be able to afford loans and to invest in the economy. Small business makes up about 50% of the economy and jobs in the United States of America. These people are not rich and if they were able to make over $3,000,000 in profit in a year they would probably not mind being taxed more. Plus, this was the discussion about raising interest rates on student loans(that no one can escape the duty to pay even after death). Any survivors that co-signed the loan take over the responsibility for the debit. Such as parents, when they co-sign for their child’s student loan they are also responsible to pay. This situation has already happened, many times over, where the child dies and the parents then become obligated to pay for their dead child’s student loan. I was talking with a lady the other day she is in her late 60’s or early 70’s. This lady lives on social security and goes to work every day. This lady has a mortgage on her home associated to pass medical care of her dead husband. The government, this tax season, stated that she owed an additional $4,000 dollars in income tax. Plus, she will have to save the money this year through additional withholding to hopefully not pay $4,000 dollars in taxes next year. This lady is worried about losing her house because she will not be able to pay her mortgage. This lady should be living without these worries anymore. This lady should be living life as they show in the commercials the adventures promised. Save for retirement, save today in a mutual fund and be ready for retirement. But, we already know that this is just not true. In the last few days of the Bush years people lost half or more of their retirement in three months. Where are her advocates? When will Congress start talking about how to protect the home of a retired person? Or making tax liabilities disappear for people that make under so much during their retirement years? Or protecting pension for people that work their whole life and make it to the age of retirement? Instead some people are coming up with solutions that will destroy the economy. Raise interest rates and tax the middle class more because we are not the “job creators”. 50% of our economy is small business. The 1% or the wealthy in this country just want to destroy and take over everything through contracts and lobbyists. The wealthy are destroying the small business opportunity to level any competition. I heard on the radio today about 3500 products made in the USA manufacturers. These are the companies that make everything here in the USA. These small business are the job creators. This is what the wealthy really want is to destroy their competition and kick everyone out of their homes and destroy any chance at a college education.


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pkrause12249 4 years 25 weeks ago

The solution/manipulation the Republicans have to this problem is to take money from the health care fund to pay for the rate reduction for one year only. This will either bankrupt the health care fund or put more of a strain on the health care fund. Giving the appearance that the health care system can not sustain itself. Or Obama will have to veto the plan. This will be how the Republicans can advertise that Obama does not really care about the education expense of college students. It was the younger generation and many other people that voted for Obama. I say, for one year let the president veto this student loan interest bill and let student loan holders pay one year at a higher interest rate(this includes me). Because having president Obama in office with a Democratic House and Senate will be the only way the people will get their voices heard.

pkrause12249's picture
pkrause12249 4 years 25 weeks ago

Just a thought.

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Income Inequality Has Gone Up

The chairman of the White House Council of Economic Advisers, Jason Furman, recently wrote in the Washington Post that "Last year saw the largest single-year reduction in poverty since the 1960s."