Yup, they just shot down a bill that would let some of the poorest of Americans – college kids – refinance student loans totaling more than $1 trillion in order to take advantage of today’s lower interest rates. Just like the rest of us can do with our mortgages if we so choose.
A pay provision in the bill, however, would have increased tax rates so that wealthy Americans making their money on stock dividends and other investments would pay the same rate as people who make their money from wages. So Republican senators blocked the bill.
“Today is a really good day for billionaires. For the 40 million people dealing with student loan debt, it wasn’t such a good day,” said the bill’s author, Sen. Elizabeth Warren. “This raises the fundamental question: Who does Washington work for? Does it work for those who can hire armies of lobbyists to make sure that every single loophole in the tax code is protected for them? Or does it work for young people who are trying to get started in life?”
This is what you call a rhetorical question. The answer has always been obvious, but more so each day since the Supreme Court formally put U.S. elections on the auction block to the highest bidder: Washington works for those who can hire armies of lobbyists.
Really, we here in America do not enjoy a representative form of government. Instead, the super rich always allow us to choose between two beholden and compliant candidates of their choosing.
For certain: When it comes to the “race” for president, Elizabeth Warren will not be one of them.