Tuesday, July 26, 2011

College and Cigarettes---What do they have in common? You smoke one (but DON'T!) and the other smokes you (well, at least your wallet)...

Well, they both burn though your money--one figuratively and one literally.  Since 1970 the cost of attending higher education has increased 1,000%, medical care approx 550%, housing approx 420% and the price level of ALL things measured in the Consumer Price Index (including the items already mentioned) approx 375%. Do you ever ask yourself WHY college, overtime, has increased in price much more relative to ANYTHING else in the economy? Opps, an exception below...
Source: Carpe Diem

Cigarettes and tobacco products have increased more. We know that is because taxes have increased on those products significantly. Higher education is not heavily tax, BUT it is heavily subsidized. It that the root of the problem? We all know how much we PAY for college, but I believe no one knows how much it actually COSTS. Those are two different concepts.
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