Defaulting on democracy: the political economy of public higher education — RT:
"Paradoxically, during a time when the disinvestment in public higher education has become fashionable, I maintain that the federal government could easily subsidize higher education for all interested students with little difficulty. Why? In 2010 the total cost of public higher education was equivalent to 1/3 of the income collected by the wealthiest 10,000 households. The wealthiest 10,000 households in the country represent less than one-tenth of one percent (.01) of a total 78 million households in the country. http://www.census.gov/prod/1/pop/p25-1129.pdf If each of these families were to pay an additional 25-30% in federal income taxes—a proportion commensurable to the top marginal tax rate from 1933-1980—then every single person in the United states could attend a four-year public institution for free. http://markmaynard.com/?p=7673 The math is simple."
Ours is more than a debt-bubble; it’s a democracy bubble, and it’s about to burst.
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