Gern Blansten said:

josevolution said:

Am I correct on thinking that this tax plan is similar to the one implemented in Kansas ? 

yes....the talking heads keep talking about how we shouldn't worry about the deficit it creates because the payoff will be several years down the road.

Absolute bullshit.  

If we had high unemployment and high inflation this plan might do some good.  Right now it is doing nothing but benefiting the wealthy.

And we still haven't seen tRump's tax returns.

bootlegger10 said:

So irresponsible to be increasing the deficit.  This economy is probably as good as it is gonna get for a long while so we need to be paying down some debt or at least not adding to it.

mrussel1 said:

I am a patriot said:

Senate proposes lower top indiviual bracket, more brackets, more itemized deductions, higher passthrough rates. Oh, and it wouldn't kick in until 2019. 

There should be a snowball's chance of getting this done by Christmas.

For me, the bill is actually worse.  It eliminates all property taxes as deductible.  So now I'd lose SALT + property... awesome.  
I can see how it's better for some, with the add back for student loan and medical, but at the end of the day, I hope the whole thing dies.  

oftenreading said:

Halifax2TheMax said:

Yup, lets make higher education less affordable and less able to assist those who create new companies, innovate and are the future of the economy so the 1% can have yet another tax cut and afford to lobby against the future. Those clowns writing legislation don't have a clue, in case you hadn't noticed already.

To the members of the community: The tax legislation now pending in Congress contains several provisions that could have damaging impact on members of our community and the university as a whole. Because the situation is complex and fluid, I write to offer our current assessment of which provisions concern us the most and why, and to let you know that we're actively following developments in DC and striving to achieve a better outcome. If you share our concern, you can express your views to Congressional leaders. What provisions in the pending tax bills concern us most? Congress is considering several provisions that could place new and potentially very serious financial burdens on students (especially graduate students), remove important incentives for employees seeking further education, and diminish the funds the university relies on for research, education and financial aid. At a time when officials across the political spectrum stress the value of increasing access to higher education and of building US economic strength through innovation, these measures seem counterproductive. For example:

·         Impact on students The House version of the bill would repeal several current tax provisions that help students afford university education, including eliminating the deduction for interest on student loans. It would also treat tuition reductions for graduate students as taxable income. If this change became law, it could have severe consequences for our nearly 7,000 graduate students, perhaps increasing an individual’s income tax by as much as $10,000 a year. In arguing against this provision, we take great inspiration from our graduate student leaders, who are conducting intensive phone-banking to make sure Congress understands that, for a graduate student receiving the average stipend of $37,000, a new tax burden on that scale could be devastating. The university would have to provide further aid to compensate, which would lead to a sharp cut in the size of the student body. This week, our students are working to communicate our position in print, on radio and through social media, making clear what’s at stake for them personally and professionally, and arguing that to discourage advanced education is to squander the kind of talent that could bring the nation new knowledge, innovation and economic growth.

·         Impact on faculty and staff The House version of the bill would eliminate some current tax provisions that help our employees defray the cost of further education. For example, it would treat tuition waivers for employees and their families as taxable income. Again, a tax that would make higher education more expensive for families is hard to understand. We are also concerned about other provisions that would put a drag on innovation.

·         Impact on the university Both the House and the Senate versions of the bill would impose a tax on the net investment income generated by the university’s endowment. Our endowment income is a primary source of funds for the work central to our mission: supporting research (including by covering the unreimbursed indirect costs of federal grants) and advancing education, especially by providing the financial aid that keeps a university education affordable to students of modest means, and by pioneering digital pathways to make higher education accessible to all. Taxing endowment earnings will directly reduce our ability to fund our core purpose.

How is the university taking action? Several offices – including our Washington office, the Office of the Vice President for Finance, the Office of the General Counsel and the Chancellor’s office, which is working with the graduate student community – have been collaborating to assess the implications of the bill and to express our concerns strategically in DC. In addition, we are working closely with the Association of American Universities and other university groups, which have been publicly outspoken and very active in building Congressional opposition to these damaging tax proposals. What happens next? This week, the House will vote on its version of the bill, and the Senate will consider its version in the Senate Finance Committee. A final bill will not be ready for a vote for at least several more weeks. In the meantime, we are intently focused on persuading Congress to remove provisions that would derail our students’ education, damage our ability to prepare these exceptionally talented young people, thwart their scientific and technical contributions, and discourage the research and innovation the nation depends on. Sincerely, Does anyone on here believe that Trump could read this, comprehend it and explain it, whether he agreed with it or not?

It's clear the the GOP in its current incarnation is anti-education, particularly anti-science. That's not surprising, as more educated voters tend to vote democrat, and a more educated citizenry can better understand the fake news that Trump et al are strewing around. 

Halifax2TheMax said:

josevolution said:

https://www.cnbc.com/amp/2017/11/15/gary-cohn-looks-for-assurances-from-ceos-on-tax-plan-gets-crickets.html

Yeah all those CEO's are really eager to trickle down all of their tax relief cash lol 

“Because yea, it’s going to save jobs and keep them here in the good ‘ol US of A,” says the guy who used to work for Carrier before his plant moved to Mexico.