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Taxes Tuition and You
Taxes Tuition and You
By
Benjamin Keough
Author of The True State of the Union 2012
Overview
Government financial aid is a privilege, not a right. As the revenue from taxes continues to drop, and the demands for funding for unemployment, Medicare/Medicaid and basic welfare increases, the governments will be forced to reduce spending in higher education. Currently the state and federal governments are speaking of tax increases. A tax increase anywhere will further stagnate the economy. Our state and federal governments have not found a solution to the problem. We have not truly begun to feel the effects of the financial crunch.
Can You Afford College Without Aid from the County, State, and Federal Government?
The current tax code is based off of profit, income, and excise taxes. As unemployment rises income and profit decreases and government revenue decreases. Governments have greater demand for revenue and less revenue to fill the demand. Raising taxes further reduces profit causing less investment.
Funding gets reduced to non-critical infrastructure.
The National Investment Tax (0.04%-1% tax on investments) The Currency Exchange Tax ( .15-.25% tax on currency trades) The National Sales Tax (0-3% sales tax) The National Employment Tax (1% tax on employment)
Food and gasoline are exempt from taxation Housing, transportation, and cloths are taxed at 1% Entertainment is taxed at 2% Alcohol and cigarets at 3%
Half of the universal funds would be divided equally among the populace while the other half would form emergency relief funds.
Infrastructure
The CET provides revenue for infrastructure 20% of this fund is reserved for Educational Infrastructure. This fund would place an additional $120- $200 billion a year into educational buildings, technology, and transportation. Half of this fund would go to Higher education.
Personal Benefits
Conclusion
It is essential that we force change in a tax system. Though this tax system is not currently on the radar, this is an election year. This is the best time to be heard. Many of us cannot afford education without financial aid and we currently only cover 38% of the true cost of our education. What happens when we must cover 50%, 75%, or a 100% of the cost?