Polito's Take: Elizabeth Warren's Big Academia - Boston News, Weather, Sports | FOX 25 | MyFoxBoston

Polito's Take: Elizabeth Warren's Big Academia

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From FOX 25 news commentator Jim Polito:

It's all become part of the lexicon. Add "Big" to any company or organization you wish to demonize. You've undoubtedly heard about Big Oil and how they manipulate the price of oil to siphon more money from us at the pump. Then there is Big Pharma, the companies that sell much needed medicines for an obscene profit. Finally, there's Big Tobacco, the people who slowly kill us so we can buy the maximum amount of their product before dropping dead. I'm not a fan of this type of rhetoric and most of the people who use it never seem to be as concerned about Big Government. But, when in Rome…

I'd like to introduce a new villain, Big Academia. I'm not talking about public school teacher's unions. Big Academia is comprised of colleges and universities across the country. What's ironic is that someone from Big Academia probably came up with the "Big" prefix. I'll bet it was a professor like Sen. Elizabeth Warren. She earned more than $300 thousand per year to teach one class at Harvard. A light work schedule like that allows for extra time to think up silly stuff. That's why I'm happy to turn the tables on these hypocrites.

Sen. Warren is always the first to point a finger at big business for not paying a fair share. She believes it's time to cut subsidies, which are actually tax deductions, to oil companies. She believes the savings could be better spent on bankrupt entitlement programs like welfare, food stamps and education.

Of course she wants it spent on education; it's the government subsidy that lines her pockets.

Think about it: The government invests billions in colleges and universities through grants and loans. These programs are supposed to make higher education more affordable but they actually contribute to the spiraling cost of college tuition. Any first-year business student can explain it.

Here's how this scheme works: Colleges increase tuition and middle class families get squeezed. The government steps in with more loan money to cover the increase. Where is the incentive for colleges and universities to control their costs? If you knew that a third party was going to subsidize your customer's purchases, even if you increased prices, why would you look to become more efficient?

When politicians talk about making a college education more affordable they're not referring to increased efficiency, they are talking about more subsidies for Big Academia.

The viscous cycle of Big Government subsidizing Big Academia is one of the primary enablers of the outrageous salaries of people like Sen. Warren. Her Bank on Student Loans Fairness Act proposal would reduce the interest rate on federally subsidized Stafford loans from 3.4% to 0.75% for new borrowers. That change would allow students to keep the same monthly payment and borrow more. Where is the incentive for colleges to lower tuition under that plan?

They are being told their customer can borrow more. Just like in real estate, when interest rates are low, prices hold steady or go up. How does that make college more affordable?

Big Oil's small tax break subsidies would be passed on to the consumer if the government took them away. I doubt very much it would be business as usual on campus if the amount of available loans and grants were frozen. Maybe then Sen. Warren would truly understand what it means to be hammered.

It's all become part of the lexicon. Add "Big" to any company or organization you wish to demonize. You've undoubtedly heard about Big Oil and how they manipulate the price of oil to siphon more money from us at the pump. Then there is Big Pharma, the companies that sell much needed medicines for an obscene profit. Finally, there's Big Tobacco, the people who slowly kill us so we can buy the maximum amount of their product before dropping dead. I'm not a fan of this type of rhetoric and most of the people who use it never seem to be as concerned about Big Government. But, when in Rome…

 

I'd like to introduce a new villain, Big Academia. I'm not talking about public school teachers unions. Big Academia is comprised of colleges and universities across the country. What's ironic is that someone from Big Academia probably came up with the "Big" prefix. I'll bet it was a professor like Senator Elizabeth Warren. She earned over three hundred thousand dollars per year to teach one class at Harvard. A light work schedule like that allows for extra time to think up silly stuff. That's why I'm happy to turn the tables on these hypocrites.

 

Senator Warren is always the first to point a finger at big business for not paying a fair share. She believes it's time to cut subsidies, which are actually tax deductions, to oil companies. She believes the savings could be better spent on bankrupt entitlement programs like welfare, food stamps and education. Of course she wants it spent on education; it's the government subsidy that lines her pockets. Think about it. The government invests billions in colleges and universities through grants and loans. These programs are supposed to make higher education more affordable. False. They actually contribute to the spiraling cost of college tuition. Any first year business student could explain it. Here's how this scheme works. Colleges increase tuition and middle class families get squeezed. The government steps in with more loan money to cover the increase. Where is the incentive for colleges and universities to control their costs? If you knew that a third party was going to subsidize your customer's purchases, even if you increased prices, why would you look to become more efficient? When politicians talk about making a college education more affordable they're not referring to increased efficiency, they are talking about more subsidies for Big Academia.

 

The viscous cycle of Big Government subsidizing Big Academia is one of the primary enablers of the outrageous salaries of people like Senator Elizabeth Warren. Her Bank on Student Loans Fairness Act proposal would reduce the interest rate on federally subsidized Stafford loans from 3.4% to 0.75% for new borrowers. That change would allow students to keep the same monthly payment and borrow more. Where is the incentive for colleges to lower tuition under that plan? They are being told their customer can borrow more. Just like in real estate, when interest rates are low, prices hold steady or go up. How does that make college more affordable?

 

Big Oil's small tax break subsidies would be passed on to the consumer if the government took them away. I doubt very much it would be business as usual on campus if the amount of available loans and grants were frozen. Maybe then Senator Warren would truly understand what it means to be hammered.

It's all become part of the lexicon. Add "Big" to any company or organization you wish to demonize. You've undoubtedly heard about Big Oil and how they manipulate the price of oil to siphon more money from us at the pump. Then there is Big Pharma, the companies that sell much needed medicines for an obscene profit. Finally, there's Big Tobacco, the people who slowly kill us so we can buy the maximum amount of their product before dropping dead. I'm not a fan of this type of rhetoric and most of the people who use it never seem to be as concerned about Big Government. But, when in Rome…

I'd like to introduce a new villain, Big Academia. I'm not talking about public school teachers unions. Big Academia is comprised of colleges and universities across the country. What's ironic is that someone from Big Academia probably came up with the "Big" prefix. I'll bet it was a professor like Senator Elizabeth Warren. She earned over three hundred thousand dollars per year to teach one class at Harvard. A light work schedule like that allows for extra time to think up silly stuff. That's why I'm happy to turn the tables on these hypocrites.

Senator Warren is always the first to point a finger at big business for not paying a fair share. She believes it's time to cut subsidies, which are actually tax deductions, to oil companies. She believes the savings could be better spent on bankrupt entitlement programs like welfare, food stamps and education. Of course she wants it spent on education; it's the government subsidy that lines her pockets. Think about it. The government invests billions in colleges and universities through grants and loans. These programs are supposed to make higher education more affordable. False. They actually contribute to the spiraling cost of college tuition. Any first year business student could explain it. Here's how this scheme works. Colleges increase tuition and middle class families get squeezed. The government steps in with more loan money to cover the increase. Where is the incentive for colleges and universities to control their costs? If you knew that a third party was going to subsidize your customer's purchases, even if you increased prices, why would you look to become more efficient? When politicians talk about making a college education more affordable they're not referring to increased efficiency, they are talking about more subsidies for Big Academia.

The viscous cycle of Big Government subsidizing Big Academia is one of the primary enablers of the outrageous salaries of people like Senator Elizabeth Warren. Her Bank on Student Loans Fairness Act proposal would reduce the interest rate on federally subsidized Stafford loans from 3.4% to 0.75% for new borrowers. That change would allow students to keep the same monthly payment and borrow more. Where is the incentive for colleges to lower tuition under that plan? They are being told their customer can borrow more. Just like in real estate, when interest rates are low, prices hold steady or go up. How does that make college more affordable?

Big Oil's small tax break subsidies would be passed on to the consumer if the government took them away. I doubt very much it would be business as usual on campus if the amount of available loans and grants were frozen. Maybe then Senator Warren would truly understand what it means to be hammered.

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