|This photo is from the Time 100 Gala - read how I feel about Elizabeth Warren. (Photo credit: Wikipedia)|
The email below is from Van Jones, a CREDO activist in California who
is the founding president of Rebuild the Dream. Van started a petition
on CREDO Mobilize,
where activists can launch their own campaigns for progressive change.
Will you help Van pressure Congress to support Senator Elizabeth
Warren's smart new plan to end the student debt crisis by signing his petition and sharing it with your friends and family?|
|Sign the petition: Support Senator Warren's plan to end the student debt crisis.|
Unlike almost every other type of loan, federal student loans are set in stone even if rates change for the better. That might not constitute a crisis if college cost what it did in the '70s, but with middle-class wages flat for decades, the soaring cost of education has become a mammoth debt dilemma dragging down an entire generation.
In short, we are taking money from middle-class students and handing it to the worst of the 1 percent. Senator Elizabeth Warren has a smart new plan to address this by letting students refinance their loans at today's low rate and paying for the difference by making millionaires pay their fair share in taxes.
That's why I started my own campaign on CREDOMobilize.com, which allows activists to start their own petitions. My petition, which is to the United States Congress, says the following:
Today, Americans hold an all-time record $1.3 trillion in student debt. Senator Elizabeth Warren has a smart plan to end this crisis: Let Americans with federal student loans refinance at today's low rate. When Senator Warren introduces legislation focused on refinancing student loans, I urge you to support the bill.Sign the petition: Tell Congress to end the student debt crisis by taxing millionaires.
Senator Warren's plan is to make up for lost revenue from student loan refinancing by making sure millionaires do not pay a lower tax rate than their assistants.
She is not the first to propose refinancing for federal student loans. Nor did she come up with the idea of the "Buffet Rule," a minimum tax on millionaires that The Joint Committee on Taxation estimates would raise $47 billion over 10 years, or an average of just under $5 billion per year.
Senator Warren's step forward was combining the two. Suddenly, members of Congress worried about lost revenue no longer have an excuse. And those who oppose fair taxes now have to explain why they care more about hedge fund managers than middle-class families trying to pay for college.
We can save Americans thousands of dollars. Put money back in the pockets of families who invested in education. Create jobs from the middle class out. If we can refinance a flashy new sports car at today's low rates, we should be able to do the same for our student loans.
Will you join me and add your name to my petition urging Congress to support Senator Warren's smart new plan to end the student debt crisis?
Thank you for your support.