tag:blogger.com,1999:blog-3776665703590564248.post1180481378501323051..comments2024-03-27T01:57:19.605-04:00Comments on Return To Excellence: Mitt Misses A Chance To Make A Difference On Student LoansReturnToExcellence.nethttp://www.blogger.com/profile/18149859814999976879noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-3776665703590564248.post-8645972641198445522012-05-01T23:30:00.312-04:002012-05-01T23:30:00.312-04:00Doug - Again great post.
One other thought:
I r...Doug - Again great post. <br /><br />One other thought:<br /><br />I read an article few weeks ago that Lenin tried hard to control banks, health care, housing, and education prior to the communist revolution. I believe these were the big 4 in the article. Does this sound familiar?<br /><br />Would it be wise for a prominent Republican or strong capitalist independent to compare BO with Lenin? Maybe it would generate much debate and more of the naive electorate would better understand BO's goals.<br /><br />Make a commercial with BO with Medvedev and a hot mic moment where he says "Just wait until after the election. By then I will have control of banks, health care, housing, and education. Then I can follow in Lenin's footsteps. But for now I need some time." Medvedev responds "I understand and will relay to Putin. And thank you for following Comrade Lenin."Econ 501noreply@blogger.comtag:blogger.com,1999:blog-3776665703590564248.post-72396933798609124402012-05-01T23:28:32.588-04:002012-05-01T23:28:32.588-04:00Doug
Yes. Mitt missed a very significant opportun...Doug<br /><br />Yes. Mitt missed a very significant opportunity to specify how to change US entitlement mindset, reduce our debt, and to grow a stronger economy. Why is this so?<br /><br />The government should be out of the student loan business. Government involvement increases tuition. Is it fair for taxpayers to subsidize student loans to many who will never pay back in full because they are huge risks? Sounds similar to government housing policy - lending to those least able to pay back. Students choosing study in majors that are not in demand by employers are huge risks. What is a better policy?<br /><br />Students should get loans from private banks. If left alone banks will assess the risk reward of a student loan. A bright student with “A”s in calculus and 750 max SAT would be a likely reward for the bank. Contrast this to Ed Department bureaucrats. They poorly check return on investment in large part due to the fact that it is not their money they lend but taxpayer money.<br /><br />But what about the very poor? Banks would still perform a similar risk reward assessment and the very poor would also get loans. And how else could one help the very poor? Via school vouchers which Mitt supports. Also via the FairTax which would eliminate regressive payroll taxes on the poor and provide checks to all up to the poverty level to mitigate impact of consumption tax. So the poor would at least live up to poverty level and be able to keep all of their paycheck free of federal taxes.<br /><br />Maybe ( not sure about this ) one could argue for a federal role for student loans but it would have to be a tiny subset of who receives now. Maybe only those at poverty level and a TBD minimal SAT score.<br /><br />Mitt thus could have made these points and put BO on the defensive. BO would have to explain (lie) why student loans do not increase tuition and why taxpayers should subsidize risky loans as they did for housing.THnoreply@blogger.comtag:blogger.com,1999:blog-3776665703590564248.post-69139810567411930462012-05-01T17:37:24.705-04:002012-05-01T17:37:24.705-04:00In Mary Anastasia O'Grady's 5/1/12 WSJ pie...In Mary Anastasia O'Grady's 5/1/12 WSJ piece she says "Chile is swamped by leftist ideas. <br />The common principle: Economic inequality is immoral and the state has an obligation to correct it." Rather than push back against this invitation to tyranny, the right too often cedes the moral high ground to its proponents." Although this article is about what is occurring now in Chile she says <br />it is a cautionary lesson for Americans. Don't you wish we (Mitt) could hear this message and do something about it?teegolfnoreply@blogger.com