STUDENT LOAN HIGHLIGHT
DEMOCRATS’ DIVIDE IN TOUGH
ELECTION YEAR.
TO BREAK DOWN THE ECONOMICS IN
ALL THIS LET’S BRING IN STEVE
MOORE, ECONOMIST FOR FREEDOM
WORKS AND FORMER ECONOMIC
ADVISOR TO PRESIDENT TRUMP.
TAKE A LOOK AT THIS, STEVE,
FROM THE "WALL STREET JOURNAL."
I WILL PULL THIS UP FOR YOU
THERE.
STUDENT LOAN FORGIVENESS IS
REALLY A BAIL-OUT FOR WOKE
HIGHER EDUCATION.
IT WILL PERPETUATE THE RACKET
OF SELLING DEGREES THAT AREN’T
ACCOMPANIED BY MARKETABLE
SKILLS.
SO IF WE TAKE THIS HYPOTHETICAL
AS FACT, RIGHT?
HOW DOES THAT PLAY OUT, THIS
PRECISE CONUNDRUM IN THE
BROADER ECONOMY.
WHY IS IT A PROBLEM?
>> GREAT TO BE WITH YOU.
YOU’RE RIGHT AMERICANS ARE
OPPOSED TO THIS POLICY.
I WOULD GO BEYOND THAT.
I DO A SYNDICATED SHOW AND WE
TOOK CALL ERLS FOR TWO HOURS.
PEOPLE WERE REALLY ANGRY ABOUT
THIS WHEN WE TOOK CALLS.
PEOPLE THINK IT IS
FUNDAMENTALLY UNFAIR,
UNAMERICAN, PUNISH PEOPLE WHO
DID THE RIGHT THING AND REPAID
LOANS AND MAKE THEM PAY TAXES
FOR PEOPLE WHO DIDN’T.
THE OTHER ELEMENT OF THIS THAT
PEOPLE AREN’T TALKING ABOUT IS
WHAT THE "WALL STREET JOURNAL"
COVERED IN THAT PIECE YOU WERE
TALKING ABOUT.
THAT THE KIND OF
CO-CONSPIRATORS IN THE CRISIS
HAVE BEEN THE UNIVERSITIES
THEMSELVES, GILLIAN.
THEY HAVE TRIPLED THEIR
TUITIONS ABOVE INFLATION OVER
THE LAST 35 YEARS.
SO BASICALLY WHAT IS HAPPENING,
GILLIAN, THE MORE MONEY WE PUT
INTO THE PELL GRANT AND STUDENT
LOAN PROGRAMS ALL THE
UNIVERSITIES DO TO RESPOND TO
IT IS RAISE THEIR TUITION.
IT IS LIKE A DOG CHASING ITS
TAIL.
WHAT I THINK THE SOLUTION
SHOULD BE AND MAYBE WE CAN GET
A BIPARTISAN CONSENSUS IS
SOMEBODY GOES TO STANFORD
MAKING $125,000 A YEAR WHY
ISN’T STANFORD ON THE LINE FOR
THAT UNPAID LOAN RATHER THAN
TAXPAYERS?
>> BERNIE SANDERS SAYS THIS
LEVELS THE PLAY FIELD OR GOES
TOWARDS LEVELING THE PLAY FIELD
AND REPUBLICANS ARE REALLY ONLY
UPSET NOW BECAUSE THIS HELPS
THE LOWER AND MIDDLE CLASS AND
THEY THE END TO LIKE TO REALLY
ONLY BEEF UP THE UPPER CLASSES.
WHAT DO YOU SAY?
>> THAT’S EXACTLY THE OPPOSITE
OF WHAT HE IS SAYING.
FIRST OF ALL, REALIZE THAT HALF
OF THE WORKERS IN AMERICA NEVER
WENT TO COLLEGE.
AND THERE ARE PEOPLE WHO ARE
PEOPLE WHO OWN SMALL BUSINESSES
OFTENTIMES.
PEOPLE WHO WORK AS PLUMBERS OR
ELECTRICIANS OR CONSTRUCTION
WORKERS.
NOW THEY HAVE TO PAY HIGHER
TAXES FOR SOMEBODY WHO WENT TO
COLLEGE AND IS MAKING $100,000
A YEAR?
THIS IS ROB-IN HOOD IN REVERSE.
IT IS TAKING MONEY FROM PEOPLE
WHO DIDN’T GO TO COLLEGE AND
PUTTING IT BEHIND THE PEOPLE
WHO DIDN’T REPAY THEIR LOANS.
ONE OTHER QUICK POINT.
I BELIEVE IF BIDEN DOES THIS
AND THEY FORGIVE $500 BILLION
OF STUDENT DEBT, THIS IS THE
DEATH OF THE STUDENT LOAN
PROGRAM BECAUSE NO ONE IS EVER
GOING TO REPAY A STUDENT LOAN
ANYMORE.
WHY WOULD YOU IF YOU KNOW THE
GOVERNMENT WILL COME ALONG AND
BAIL YOU OUT?
THE WHOLE PROGRAM.
DEMOCRATS ARE KILLING THE
STUDENT LOAN PROGRAM WITH THIS
BAIL-OUT.
>> LET’S TALK ABOUT THE I.R.S.
QUICK.
PART OF THE INFLATION REDUCTION
ACT WILL BEEF UP THE
ORGANIZATION.
REPUBLICANS ARE WARNING OF THE
DANGERS OF THIS TAX AGENCY AN
STEROIDS.
THE WHITE HOUSE IS STICKING TO
THEIR ORIGINAL TALKING POINT.
>> DO YOU THINK IT WILL BE
POPULAR WHEN THE 87,000 NEW
EMPLOYEES HIRED BY THE I.R.S.
GO AROUND AND START AUDITING
PEOPLE TO PAY FOR THE INFLATION
REDUCTION ACT?
>> IT IS VERY CLEAR THE I.R.S.
COMMISSIONER WAS VERY CLEAR ON
THIS SAYING ON THE RECORD THAT
THIS ONLY WILL -- IT WILL ONLY
APPLY TO THOSE EARNING OVER
$400,000.
>> KARL ROVE OP-ED SAYS THE
TRUTH IS BURIED BEHIND SOME
CONFUSING LANGUAGE.
HE WRITES IT IS CLEAR WHAT THE
ADMINISTRATION WAS SAYING.
MORE HOUSEHOLDS OF ALL INCOME
WILL BE AUDITED.
MORE THAN 95% OF ALL AUDITS OF
INDIVIDUAL RETURNS HAVE BEEN OF
HOUSEHOLDS EARNING LESS THAN $200,000.
IF THE I.R.S. HONOR ITS WORD.
WHETHER PEOPLE WHO EARN LESS
THAN $400,000.
THE WHITE HOUSE SAYS THEY
AREN’T.
THEY HAVEN’T LAID OUT THE
MECHANISM BY WHICH THEY’LL
GUARANTEE THAT DOESN’T HAPPEN.
THEY HAVE NOT SHARED THE
DETAILS WITH US.
>> THERE WAS A WAY TO GUARANTEE
IT WOULDN’T HAPPEN.
REMEMBER WHEN THIS WAS DEBATED
ON THE SENATE FLOOR AND THERE
WAS AN AMENDMENT BY SENATOR
FROM IDAHO, REPUBLICAN SENATOR
SAYING OKAY, LET’S HAVE AN
AMENDMENT THAT SAYS NOBODY WHO
MAKES LESS THAN $400,000 WILL
BE AUDITED WITH THE NEW MONEY.
THE INTERESTING THING, EVERY
SINGLE DEMOCRAT, EVERY ONE OF
THEM FROM BERNIE SANDERS ON
DOWN THE LINE ALL VOTED AGAINST
THAT AMENDMENT.
SO THEY COULD HAVE SOLVED THIS
PROBLEM.
THEY DON’T WANT TO.
WHY?
THIS IS THE MIDDLE CLASS
COUNTRY.
THE MONEY IS IN THE HANDS IN
THE MIDDLE CLASS.
YOU WANT TO GET MORE MONEY AND
FEATHERS OUT OF THE CHICKEN YOU
PLUCK THEM FROM THE MIDDLE
CLASS.
NOT JUST THE MIDDLE CLASS.
PEOPLE FORGET WHAT HAPPENED
UNDER BARACK OBAMA WHERE WE
HAVE -- REMEMBER THE NAME LOIS
LEARNER.
THEY WILL GO AFTER MIDDLE CLASS
PEOPLE AND GO AFTER
CONSERVATIVES AND REPUBLICANS.
THEY WILL WEAPONIZE THE I.R.S..
THIS IS NOT A CONSPIRACY THEORY.
THEY DID IT UNDER OBAMA WHEN
CONSERVATIVE GROUPS AND
REPUBLICANS WERE TARGETED.
A LOT OF US AS CONSERVATIVES
ARE NERVOUS.
I GOT OUT OF IT UNDER THE OBAMA
ADMINISTRATION.
I THINK THAT’S SOMETHING TO
WORRY ABOUT, TOO.
>> OUR HEARTS GO OUT TO YOU,