{"id":1670293,"date":"2022-10-03T14:07:57","date_gmt":"2022-10-03T18:07:57","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1670293"},"modified":"2022-10-03T14:08:39","modified_gmt":"2022-10-03T18:08:39","slug":"nonpartisan-analysis-bidens-student-debt-bailout-still-mostly-helps-high-earners","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nonpartisan-analysis-bidens-student-debt-bailout-still-mostly-helps-high-earners\/","title":{"rendered":"Nonpartisan Analysis: Biden&#8217;s Student Debt Bailout Still Mostly Helps High-Earners"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" 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  <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>    Oops: Biden\u2019s student loan bailout still mostly helps high-earners, nonpartisan analysis confirms &#8211; Based Politics<br \/>\n    <meta \/><br \/>\n    <meta content=\"width=device-width, initial-scale=1.0\" \/>\n    <link rel=\"pingback\" href=\"https:\/\/www.based-politics.com\/xmlrpc.php\" \/>\n    <meta content=\"index, follow, max-image-preview:large, max-snippet:-1, max-video-preview:-1\" \/><\/p>\n<p>\t<meta content=\"President Biden&#039;s student loan bailout will offer a majority of its financial benefits to the top 50% of income earners, a new analysis finds.\" \/>\n\t<link rel=\"canonical\" href=\"https:\/\/www.based-politics.com\/2022\/10\/03\/oops-bidens-student-loan-bailout-still-mostly-helps-high-earners-nonpartisan-analysis-confirms\/\" \/>\n\t<meta content=\"en_US\" \/><br \/>\n\t<meta content=\"article\" \/><br \/>\n\t<meta content=\"Oops: Biden\u2019s student loan bailout still mostly helps 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href=\"https:\/\/www.based-politics.com\/wp-json\/oembed\/1.0\/embed?url=https%3A%2F%2Fwww.based-politics.com%2F2022%2F10%2F03%2Foops-bidens-student-loan-bailout-still-mostly-helps-high-earners-nonpartisan-analysis-confirms%2F\" \/>\n<link rel=\"alternate\" type=\"text\/xml+oembed\" href=\"https:\/\/www.based-politics.com\/wp-json\/oembed\/1.0\/embed?url=https%3A%2F%2Fwww.based-politics.com%2F2022%2F10%2F03%2Foops-bidens-student-loan-bailout-still-mostly-helps-high-earners-nonpartisan-analysis-confirms%2F&amp;format=xml\" \/>\n<meta content=\"Site Kit by Google 1.83.0\" \/><\/p>\n<p>          <meta content=\"wordpress-plugin\" \/><\/p>\n<div id=\"td-mobile-nav\">\n<div id=\"login-form-mobile\" class=\"td-register-section\">\n<div id=\"td-register-mob\" class=\"td-login-animation td-login-hide-mob\">\n<p><span>Welcome!<\/span>Register for an account<\/p>\n<\/p><\/div>\n<div id=\"td-forgot-pass-mob\" class=\"td-login-animation td-login-hide-mob\">\n<div class=\"td-forgot-pass-close\">\n\t                <a href=\"https:\/\/www.based-politics.com\/2022\/10\/03\/oops-bidens-student-loan-bailout-still-mostly-helps-high-earners-nonpartisan-analysis-confirms\/#\" aria-label=\"Back\" class=\"td-back-button\"><i class=\"td-icon-read-down\"><\/i><\/a><\/p>\n<p>Password recovery<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"td-outer-wrap\" class=\"td-theme-wrap\">\n<div id=\"tdb-autoload-article\" data-autoload=\"off\" data-autoload-org-post-id=\"5532\" data-autoload-type=\"\" data-autoload-count=\"5\">\n<div class=\"td-main-content-wrap td-container-wrap\">\n<div class=\"tdc-content-wrap\">\n<article id=\"template-id-2817\" class=\"post-2817 tdb_templates type-tdb_templates status-publish post\" itemscope itemtype=\"https:\/\/schema.org\/Article\">\n<div id=\"tdi_69\" class=\"tdc-zone\">\n<div class=\"tdc_zone tdi_70  wpb_row td-pb-row\">\n<div id=\"tdi_71\" class=\"tdc-row stretch_row_1400 td-stretch-content\">\n<div class=\"vc_row tdi_72  wpb_row td-pb-row\">\n<div class=\"vc_column tdi_74  wpb_column vc_column_container tdc-column td-pb-span12\">\n<div class=\"wpb_wrapper\">\n<div class=\"td_block_wrap tdb_single_subtitle tdi_76 td-pb-border-top td_block_template_1\" data-td-block-uid=\"tdi_76\">\n<div class=\"tdb-block-inner td-fix-index\">\n<p>&#8220;The Administration\u2019s student debt cancellation proposal is costly, inflationary, will drive up higher education costs, and will deliver the majority of the benefits to those in the top half of the income spectrum,\u201d the experts conclude.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"tdi_78\" class=\"tdc-row stretch_row_1400 td-stretch-content\">\n<div class=\"vc_row tdi_79  wpb_row td-pb-row\">\n<div class=\"vc_column tdi_81  wpb_column vc_column_container tdc-column td-pb-span9\">\n<div class=\"wpb_wrapper\">\n<div class=\"td_block_wrap tdb_single_featured_image tdi_82 tdb-content-horiz-left td-pb-border-top td_block_template_1\" data-td-block-uid=\"tdi_82\">\n<div class=\"tdb-block-inner td-fix-index\">\n<figure><figcaption class=\"tdb-caption-text\">Image Credit: Committee for a Responsible Federal Budget<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<div class=\"vc_row_inner tdi_85  vc_row vc_inner wpb_row td-pb-row\">\n<div class=\"vc_column_inner tdi_87  wpb_column vc_column_container tdc-inner-column td-pb-span12\">\n<div class=\"vc_column-inner\">\n<div class=\"wpb_wrapper\">\n<div class=\"td_block_wrap tdb_single_author tdi_88 td-pb-border-top td_block_template_1 tdb-post-meta\" data-td-block-uid=\"tdi_88\">\n<div class=\"tdb-block-inner td-fix-index\"><a class=\"tdb-author-photo\" href=\"https:\/\/www.based-politics.com\/author\/brad-polumbo\/\" title=\"Brad Polumbo\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.based-politics.com\/wp-content\/uploads\/2022\/01\/brad-150x150.jpeg\" width=\"96\" height=\"96\" alt=\"Brad Polumbo\" class=\"avatar avatar-96 wp-user-avatar wp-user-avatar-96 alignnone photo\" \/><\/a><\/div>\n<\/div>\n<div class=\"td_block_wrap tdb_single_date tdi_89 td-pb-border-top td_block_template_1 tdb-post-meta\" data-td-block-uid=\"tdi_89\">\n<p><time class=\"entry-date updated td-module-date\" datetime=\"2022-10-03T11:28:06-04:00\">October 3, 2022<\/time><\/p>\n<\/div><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"td_block_wrap tdb_single_content tdi_92 td-pb-border-top td_block_template_1 td-post-content tagdiv-type\" data-td-block-uid=\"tdi_92\">\n<div class=\"tdb-block-inner td-fix-index\">\n<p><span>Progressive proposals for total student debt \u201ccancelation\u201d (aka transfer to taxpayers) have long been plagued by a salient criticism: they mostly help the affluent. One study even found that full student debt cancelation would help the top 20% of earners <a href=\"https:\/\/fee.org\/articles\/top-20-gets-6x-more-benefits-from-student-debt-cancellation-than-bottom-20-new-study-finds\/\" class=\"stylish-link\">6x more<\/a> than the bottom 20%. President Biden wanted to ensure that his executive action \u201ccanceling\u201d $10,000-$20,000 in debt per borrower wouldn\u2019t fall into this same hypocritical pattern, so he added some income constraints.\u00a0<\/span><\/p>\n<p><span>It didn\u2019t work. Biden\u2019s <a href=\"https:\/\/www.based-politics.com\/2022\/08\/23\/3-glaring-problems-with-bidens-10k-student-debt-cancelation-plan\/\" class=\"stylish-link\">costly and arguably illegal student loan bailout<\/a> will still mostly end up benefitting higher earners, a <\/span><a href=\"https:\/\/www.crfb.org\/blogs\/bidens-student-debt-cancellation-plan-still-regressive\" class=\"stylish-link\"><span>new analysis<\/span><\/a><span> from the nonpartisan Committee for a Responsible Federal Budget confirms.\u00a0<\/span><\/p>\n<p><span>Their experts ran the numbers on Biden\u2019s final proposal, including the income caps, and concluded that it will still offer <\/span><b>57% to 65% of its benefits<\/b><span> to the top half of income earners. (And they say that even this might be an <\/span><i><span>under<\/span><\/i><span>estimate).<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">ANALYSIS: Even with the additional $10k for Pell recipients, the President&#8217;s debt cancellation still mostly benefits higher earners.<\/p>\n<p>\ud835\udfd3\ud835\udfd5 \ud835\udc2d\ud835\udc28 \ud835\udfd4\ud835\udfd3 \ud835\udc29\ud835\udc1e\ud835\udc2b\ud835\udc1c\ud835\udc1e\ud835\udc27\ud835\udc2d \ud835\udc28\ud835\udc1f \ud835\udc2d\ud835\udc21\ud835\udc1e \ud835\udc1b\ud835\udc1e\ud835\udc27\ud835\udc1e\ud835\udc1f\ud835\udc22\ud835\udc2d \ud835\udc30\ud835\udc22\ud835\udc25\ud835\udc25 \ud835\udc20\ud835\udc28 \ud835\udc2d\ud835\udc28 \ud835\udc2d\ud835\udc21\ud835\udc1e \ud835\udc2d\ud835\udc28\ud835\udc29 \ud835\udc21\ud835\udc1a\ud835\udc25\ud835\udc1f of the income spectrum.<a href=\"https:\/\/t.co\/oDPQuzp2yc\" class=\"stylish-link\">https:\/\/t.co\/oDPQuzp2yc<\/a> <a href=\"https:\/\/t.co\/v1GxqywCN2\" class=\"stylish-link\">pic.twitter.com\/v1GxqywCN2<\/a><\/p>\n<p>\u2014 Marc Goldwein (@MarcGoldwein) <a href=\"https:\/\/twitter.com\/MarcGoldwein\/status\/1576947670785982465?ref_src=twsrc%5Etfw\" class=\"stylish-link\">October 3, 2022<\/a><\/p>\n<\/blockquote>\n<p><span>That\u2019s right: a majority of the benefits will flow to the top half, not the struggling poor and working class. Why?<\/span><\/p>\n<p>Well, for one thing, any form of student debt relief only benefits those who attended college. And that\u2019s a relatively more affluent slice of society\u2014that\u2019s why people go to college, after all.<\/p>\n<p>So, too, the fact that the plan is \u201copt-in\u201d will create a hurdle prompting some low-income people not to participate. And the fact that the Biden administration is using 2020 income data to determine qualification is going to highly skew the results, as many people briefly earned little\/less during the height of the pandemic but have now fully recovered.<\/p>\n<p><span>\u201cIn the end, the Administration\u2019s student debt cancellation proposal is costly, inflationary, will drive up higher education costs, and will deliver the majority of the benefits to those in the top half of the income spectrum,\u201d the Committee concludes.\u00a0<\/span><\/p>\n<p><span>Nice job, Joe.\u00a0<\/span><\/p>\n<div class=\"epyt-video-wrapper\">\n<div id=\"_ytid_37655\" data-origwidth=\"696\" data-origheight=\"391\" data-facadesrc=\"https:\/\/www.youtube.com\/embed\/sAlXD6zQTok?enablejsapi=1&amp;autoplay=0&amp;cc_load_policy=0&amp;cc_lang_pref=&amp;iv_load_policy=1&amp;loop=0&amp;modestbranding=1&amp;rel=0&amp;fs=1&amp;playsinline=0&amp;autohide=2&amp;theme=dark&amp;color=red&amp;controls=1&amp;\" class=\"__youtube_prefs__ epyt-facade epyt-is-override  no-lazyload\" data-epautoplay=\"1\"><img decoding=\"async\" class=\"epyt-facade-poster\" alt=\"YouTube player\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/maxresdefault.jpg\" \/><button class=\"epyt-facade-play\" aria-label=\"Play\"><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"vc_column tdi_95  wpb_column vc_column_container tdc-column td-pb-span3 td-is-sticky\">\n<div class=\"wpb_wrapper\">\n<div class=\"tdm_block td_block_wrap tdm_block_column_title tdi_98 tdm-content-horiz-center td-pb-border-top td_block_template_1\" data-td-block-uid=\"tdi_98\">\n<div class=\"td-block-row\">\n<div class=\"td-block-span12 tdm-col\">\n<h3 class=\"tdm-title tdm-title-sm\">Sign up for Our Email List<\/h3>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wpb_wrapper td_block_wrap vc_raw_html tdi_101\">\n<div class=\"td-fix-index\">\n<link href=\"\/\/cdn-images.mailchimp.com\/embedcode\/classic-10_7.css\" rel=\"stylesheet\" type=\"text\/css\" \/>\n<p>*By signing up for our email you consent to getting our emails directly in your inbox. These including our newsletter or other informational emails*<\/p><\/div>\n<\/div>\n<div class=\"tdm_block td_block_wrap tdm_block_column_title tdi_102 tdm-content-horiz-center td-pb-border-top td_block_template_1\" data-td-block-uid=\"tdi_102\">\n<div class=\"td-block-row\">\n<div class=\"td-block-span12 tdm-col\">\n<h3 class=\"tdm-title tdm-title-sm\">Our Latest Podcast<\/h3>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"tdm_block td_block_wrap tdm_block_column_title tdi_106 tdm-content-horiz-left td-pb-border-top td_block_template_1\" data-td-block-uid=\"tdi_106\">\n<div class=\"td-block-row\">\n<div class=\"td-block-span12 tdm-col\">\n<h3 class=\"tdm-title tdm-title-sm\">Related articles<\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"tdi_113\" class=\"tdc-row stretch_row_1400 td-stretch-content\">\n<div class=\"vc_row tdi_114  wpb_row td-pb-row\">\n<div class=\"vc_column tdi_116  wpb_column vc_column_container tdc-column td-pb-span12\">\n<div class=\"wpb_wrapper\">\n<div class=\"tdb-author-box td_block_wrap tdb_single_author_box tdi_119 tdb-content-vert-center td-pb-border-top td_block_template_1\" data-td-block-uid=\"tdi_119\">\n<div class=\"tdb-block-inner td-fix-index\"><a href=\"https:\/\/www.based-politics.com\/author\/brad-polumbo\/\" class=\"tdb-author-photo\" title=\"Brad Polumbo\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.based-politics.com\/wp-content\/uploads\/2022\/01\/brad-150x150.jpeg\" width=\"96\" height=\"96\" alt=\"Brad Polumbo\" class=\"avatar avatar-96 wp-user-avatar wp-user-avatar-96 alignnone photo\" \/><\/a><\/p>\n<div class=\"tdb-author-info\"><a href=\"https:\/\/www.based-politics.com\/author\/brad-polumbo\/\" class=\"tdb-author-name\">Brad Polumbo<\/a><\/p>\n<p>Brad Polumbo is a libertarian-conservative journalist and co-founder of Based Politics. His work has been cited by top lawmakers such as Senator Rand Paul, Senator Ted Cruz, Senator Pat Toomey, Congresswoman Nancy Mace, Congressman Thomas Massie, and former UN Ambassador Nikki Haley, as well as by prominent media personalities such as Jordan Peterson, Sean Hannity, Dave Rubin, Ben Shapiro, and Mark Levin. Brad has also testified before the US Senate, appeared on Fox News and Fox Business, and written for publications such as USA Today, National Review, Newsweek, and the Daily Beast. He hosts the Breaking Boundaries podcast and has a bachelor\u2019s degree in economics from the University of Massachusetts Amherst.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>                    <span class=\"td-page-meta\" itemprop=\"author\" itemscope itemtype=\"https:\/\/schema.org\/Person\"><meta itemprop=\"name\" content=\"Brad Polumbo\" \/><meta itemprop=\"url\" content=\"https:\/\/www.based-politics.com\/author\/brad-polumbo\/\" \/><\/span><meta itemprop=\"datePublished\" content=\"2022-10-03T11:28:06-04:00\" \/><meta itemprop=\"dateModified\" content=\"2022-10-03T11:28:06-04:00\" \/><meta itemscope itemprop=\"mainEntityOfPage\" itemtype=\"https:\/\/schema.org\/WebPage\" itemid=\"https:\/\/www.based-politics.com\/2022\/10\/03\/oops-bidens-student-loan-bailout-still-mostly-helps-high-earners-nonpartisan-analysis-confirms\/\" \/><span class=\"td-page-meta\" itemprop=\"publisher\" itemscope itemtype=\"https:\/\/schema.org\/Organization\"><span class=\"td-page-meta\" itemprop=\"logo\" itemscope itemtype=\"https:\/\/schema.org\/ImageObject\"><meta itemprop=\"url\" content=\"https:\/\/www.based-politics.com\/2022\/10\/03\/oops-bidens-student-loan-bailout-still-mostly-helps-high-earners-nonpartisan-analysis-confirms\/\" \/><\/span><meta itemprop=\"name\" content=\"Based Politics\" \/><\/span><meta itemprop=\"headline\" content=\"\" The Administration \/><span class=\"td-page-meta\" itemprop=\"image\" itemscope itemtype=\"https:\/\/schema.org\/ImageObject\"><meta itemprop=\"url\" content=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/Screen-Shot-2022-10-03-at-11.21.30-AM.png\" \/><meta itemprop=\"width\" content=\"1504\" \/><meta itemprop=\"height\" content=\"1126\" \/><\/span>                <\/article>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Oops: Biden\u2019s student loan bailout still mostly helps high-earners, nonpartisan analysis confirms &#8211; Based Politics<\/p>\n","protected":false},"author":1,"featured_media":1670295,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1670293","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1670293","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1670293"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1670293\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1670295"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1670293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1670293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1670293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}