Friday, July 16, 2004

Federal > $200,000 income tax rate cut to 35% (from 39.6%) = higher tuition for state schools

STATE COLLEGE TUITIONS TO RISE AN AVERAGE OF TEN PERCENT STATELINE - State colleges and universities will raise tuition by an average 10 percent for the coming school year, according to new projections by a higher education organization. A survey of 60 public universities, which enroll more than 900,000 students, found that yearly costs for college classes will increase from $4,900 to $5,375 starting this fall, the National Association of State Universities and Land Grant Colleges reported July 14.
This is what it means when the GOP tax cuts on income over $200,000 leave the government with much less money to send to state governments: tuition goes up. And building the middle class gets more difficult.
College should be free. And we should go back to the Clinton tax rate of 39.6% of all income over $200,000 in order to pay for free tuition.
Keep in mind that this is what most of the Bush tax cuts are about when we start to roll them back. Whether the people with the highest incomes should pay 39.6% or 35% on the income over $200,000. That's the fight. On the one side, the people making more than $200,000. On the other side, the 900,000 people going to state schools that will be paying more (and taking on more student debt). To quote Tom Geoghegan's book on labor, "Which Side Are You On?" 
(Thanks to the Progressive Review's daily newsletter for the Stateline cite).

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