Comments by "Titanium Rain" (@ChucksSEADnDEAD) on "Student Loan Crisis Fuels Military Recruitment Boom" video.
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@yarnpower "Tax cuts meant less income for the federal govt." - but that's false. Tax revenue actually increased. In 1980 receipts were 517k Million dollars, 1981-599k M, 1982-617k M, 1983-600k M, 1984-666k M, 1985-734k M, 1986-769k M, 1987-854k M, 1988-909k M. The income actually grew, in fact almost doubled.
"so they in turn had less to send back to each state" - not only is the premise that the government was taking less tax income false, but even if that was true that doesn't cause tuition to rise. States could easily bump sales, property or income tax. I want some documentation proving that state governments all together decided to increase tuition as a tax collection scheme because there have to be meetings on record and bills passed that put this theory on paper.
"Private colleges then felt free to raise their rates." - that doesn't even make sense. If state college becomes more expensive for factors unrelated to private schools then they get a boost in enrollment. That could explain a slight increase in tuition costs simply because demand is higher than the supply - more students trying to join than a college can accommodate - but it wouldn't explain a 1000 percent increase over the last few decades. Are the states still trying to cover up a budget hole after all these years?
Please come to your senses. Are private colleges still in a race to the top with states trying to raise an infinite amount of taxes by bumping tuition costs?
Or does the existence of laws that make banks profit off excessive loans create a spike in demand that allows the supply side to keep increasing prices?
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