*$37 billion in student loan interest and other Department of Education income in fy 13. This is up from just $18 billion in 2007, and is more than this year's estate tax revenues!! Yes, lets juice young college students, while leaving the plutocrats alone!
*~$2.8 trillion in income, employment, and other taxes, which is an all time nominal high
*$75 billion remitted Federal Reserve Earnings that would have stayed in the private sector
*$95 billion from GSE dividend payments (ok, maybe this one is acceptable)
....and More!
1 comment:
Justin,
The $95b dividends from the GSEs to the UST is paid out of the mortgage interest paid by non-govt home owners to the GSEs which were all bought out by the govt for like $1 back in 2008... which means a large part of mortgage interest paid by non-govt home owners is functionally a tax now...
At least back when the govt didnt own the GSEs the dividends paid out of mortgage interest stayed in the non-govt sector and could be "recycled"....
So this is functionally a tax now just as are student loans since 2010 when the govt took over Sallie Mae....
Good post this is an outrage what you are pointing out here...
Even Elizabeth Warren doesnt think the student loan "tax" should be eliminated it should just be "reduced" a bit ..... she is a moron too and of no help here.
rsp,
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