Tax The Super Rich NOW, Or Pay The Price

I'd say this article makes some pretty good arguments about why the super rich in this country NEED to be taxed (as if this should even be up for debate. Alas, we live in delusional times and our country is being run by - mostly - delusional people). I'd say a lot of the people who read my blog are part of a young group of highly educated and pissed off individuals who can't apply their talents and hard work to ANYTHING. Plus, they are drowning in student loan debt, and for what fucking reason? So, they can send half their paycheck to Sallie Mae each month? Yeah, I don't think so. This is not how the story was supposed to play out for people here. Institutional inefficiencies can be fixed. But who has the guts to regulate them? Tell me? Who has the guts? If people on the Hill, with all their ueber-rich donors and corps, don't listen up, they will have a revolution here. I don't know what it will look like, or when it will happen, but the super-rich are destroying the country. We are violent people, so who knows what this will look like.

Oh, and on a final note. Outstanding student loan debt has surpassed $900 BILLION. You think those people with all that debt are happy? Do you think they're getting by? Maybe they are, but not with relish!

Gidget Gein's "Capitalist Pig"

Tax Breaks For Employers Who Help Employees Pay Back Student Loans

Rhode Island Legislator Chris Blazejewski has proposed something quite intriguing in RI. Why not offer something like this nationwide? I know that there are so many small business owners who have probably had potential employees turn down their job offer because the pay was simply not enough - in fact, I know of several cases like that. Why not offer employers tax breaks who help pay off an employer's student loans?

The IRS does offer Employer Provided Educational Assistance (section 127 of the IRS code), but there does not seem to be any thing directly related to an individual's debt.

Mailing

Thanks again for your generous donations. As you all know, the content at AEM is entirely free, but it obviously takes a lot of time and effort to research and provide vital analysis about the student loan debt crisis. Lobbying costs money as well. I've been invited to a few congressional offices, so I will be raising money for a future trip to D.C. If you can match my $10 (or send more), that will enable AEM to continue advocating for student loan debtors. I'm headed to the post office now, and each donor has received a note from me that includes a symbol of the indentured educated class too. 

Keep your eye out for those stickers. If you haven't donated yet, please do so, and receive a free sticker!

Mixture Of Happiness And Dread: "My son just got accepted into UC-Santa Cruz, but . . ."

A woman wrote to me last night and let me know that she has mixed feelings about her son's acceptance letter from UC-Santa Cruz. I think her note speaks volumes about the fears that many parents are now having about their kids going off to school, especially when they are aware of the student loan debt crisis. Perhaps I am being presumptuous, but I think it is safe to assume that the kids who are currently sitting with me in this great coffee shop, that's a few blocks from Brown, aren't too concerned about student loan debt. (Although, I will say that I overheard a young woman complaining about her debt - it sounds like she's in med school at Brown. Graduate students are a different crew of people).

For most parents, I am sure many of them are fretting about sending their kids to school, and wondering how they'll be able to help them manage tuition (which continues to go up and up and up - oh, well, as long as no one asks why), the cost of living, and so forth. On another note, a friend of mine, who is leaving Korea soon, just let me know that he's going to grad school in the fall. When I inquired about the school's whereabouts, he said, "it's in the U.K. It's much more affordable than the U.S." I am glad to hear that he is going to pursue further education but at a much more reasonable price than most schools in the U.S. Any knowledge of the current situation points to how crippled the system has become, at least for student borrowers.

As for the mother I mentioned already, here's what she had to say in her email that was entitled, "A mixture of happiness and dread:"

Hi Cryn, well my son was just accepted to UC Santa Cruz, his second choice to UC Berkeley. He is an extremely brilliant kid, 19 and a Chem major .  .  . I am excited yet I am fearful about his future debts to this backwards educational system (future indentured educated citizen). . . Sometimes I wish we would have stayed in Finland where the Universities are virtually free. Anyway, thanks for all your insight and your writings. 


I exchanged several emails with this mother, and first replied, "Have you read my piece about ways to minimize student loan debt? I am happy to help you brainstorm on how to avoid accruing too much debt. Obviously, you are aware of the situation, and really that is winning half the battle at this moment. Any awareness is a great thing, because so many are not, and that is what pains me for those who are soon-to-be-students."

Are you preparing to see your child leave for school? If so, are you concerned about the amount of debt s/he is going to accrue while in school? Are you fearful, like this mother, that your son or daughter will become part of the indentured educated class?

"Yes, darling! That's wonderful news! It's simply wonderful that you are going to school  . . . but what about the cost? Oh, darling! Yes! Yes! I am so happy, but . . . I fear . . . I fear that you will become an  indentured educated citizen, my dear."

Donate To AEM And Get A Sticker With Our New Logo By Paul Ramirez!

Donate to AEM and receive a sticker with our logo that was designed by graphic artist Paul Ramirez. You have a choice of two colors: orange or black.

Please indicate the color that you would like on either your check or on your PayPal order. Please don't forget! I'd hate to send you the wrong color.

Thanks so much again for your continued support. Your generous donations keep AEM alive, strong, and growing.

UPDATE: I have matched the first donor's $10. Will you do the same?