The Pay-for Republicans have a plan to pay for Student Loan Relief ... take it from Health Care ...
Republicans jam Tom Harkin on preventive health fund
by David Nather and Jennifer Haberkorn, politico.com -- 4/27/12
As chairman of the Health, Education, Labor and Pensions Committee, Harkin largely wrote the preventive health sections of the Affordable Care Act, including the prevention fund that Republicans dubbed a “slush fund.” But he’s also working on the Senate student loan bill, so House Republicans may well have to go through him to get something that can be signed into law.
That may not be the plan, though — and top House Republicans know they’ve picked one of the most vulnerable parts of the health care law as a target.
After all, the Prevention and Public Health Fund has been raided before — as House Speaker John Boehner is reminding everyone who will listen. The payroll tax cut extension, which Obama signed into law earlier this year, cut $5 billion out of the fund. And Obama’s own budget proposal this year would have slashed it by $4.5 billion. House Republicans want to wipe out the rest of the $11.9 billion that’s slated to go into the fund over the next decade.
If Obama and the Democrats wouldn’t stick up for the preventive health fund before, Republicans reasoned, how can they fight a student loan bill over it now? “I think they’ve made clear the precedent here,” Boehner said at a Thursday press conference.
Funny isn't it, how Republicans only worry about paying for things -- when it benefits the young, the poor, seniors, or the workers in this country.
Huge tax cuts to Top 1 Percent? well then it's a Free-for-all.
No questions asked ...
The Obama Administration have a different plan to pay for Student Loan Relief ... close a Corporate Tax Loophole ...
White House: Closing tax loophole could fund student loans
by Jeff Mason; Editing by Jackie Frank, Reuters -- 4/24/2012
The White House said on Tuesday that it was reviewing whether a small business tax loophole should be closed to pay for an extension of low interest rates on student loans that President Barack Obama wants Congress to deliver.
The loophole allows some shareholder-employees of so-called "S corporations" to avoid paying the Medicare payroll tax on their earnings.
Carney said that closing the tax loophole was among a variety of potential ways to pay for the estimated $6 billion cost of a one-year extension of the loan rates, which otherwise will double on July 1 to 6.8 percent.
An S-Corporation does not pay corporate taxes but passes income through to the individual shareholders, who can report it as profits rather than wages in order to lower their tax burden.
The President actually knows the value of a well-educated work force, who are NOT saddled with mountains of debt, when they start out in life. He's been there.
(The Republicans, not so much.)
[...]Remarks by President Obama on college affordability, University of Iowa, April 25, 2012
And then, you’ve got the spokesman for the Speaker of the House who says, we’re -- meaning me, my administration -- we're just talking about student loans to distract people from the economy. Now, think about that for a second. Because these guys don’t get it -- this is the economy. (Applause.) This is the economy. This is about your job security. This is about your future. If you do well, the economy does well. This is about the economy. (Applause.)
What economy are they talking about? You are the economy. If you’ve got skills, if you’ve got talents, if you’re starting a business, if companies are locating here in Iowa because it’s got a well-trained workforce, that’s the economy. That’s how we’re going to compete. Making sure our next generation earns the best education possible is exactly America’s business. (Applause.) Making sure that education is available to everybody and not just the few -- that is America’s business. Our future depends on it. (Applause.)
by Transcripts Editors for Transcripts and Documents -- Apr 25, 2012
To see that great exchange, watch in the opening of this video clip:
The Ed Show -- Interview with Governor Pat Quinn (D-IL) -- Apr 25, 2012
link to video
Republicans would rather put their trust in tax cutting, anti-Education hacks, like Scott Walker,
-- than the Future of America -- our intelligent, motivated, cash-strapped students -- looking for a little help. So that they can hit the ground running -- and build that Future ...
The Republicans just want to put Corporations and the Wealthy FIRST, as per usual.
And that is why they must be sent packing in November.
The Corporations and the Wealthy really DON'T need any more help.
The Corporations-First Republicans ... just. don't. get it!