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Yep everyone in the US needs a STEM degree, that way jobs for engineers and programmers can drop by 50% due to the glut of STEM graduates- simply brilliant idea
It doesn't have to be STEM. There are also certain business (like accounting or finance) or health majors that would be equally useful.
Glad, that our President and Congress wants to eliminate the student loan deduction.
The student loan deduction is in many ways a deduction for luxury foreign vacations for study purposes, deduction for living in luxurious apartments with resort amenities, deductions for several hundred a month latte, pastry and komboucha habits.
This isn't the 1990s anymore where university lived humble lifestyles. Now, many take out loans to live designer lifestyles to compete with very wealthy Chinese and Arab students.
Pell grants are more than enough to take care of the first two years of college. There is no reason why university students to have more than $5,000 in student loans anyway since the first two years can be pell grants at community college and the last two is basically 60 credits at $15,000 and pell grants max out at $11,500 for 2 years.
Oh well, looks like many of them don't even intend on paying it back anyway.
Can't wait until the garnishments start coming to these university graduates and they can't discharge the loans in bankruptcy. Hopefully, they won't be able deduct them anymore either!
The OP is as full of it, as a Thanksgiving turkey.
Maybe it's reverse psychology. The OP is wanting us to think about the student loan issue.
But seriously, it is wrong to change the rules now. The deduction isn't much and the gross income limit doesn't help, but is a deduction nonetheless. College is already exceedingly expensive. No need to make it worse.
Unless of course, your intent is to dumb-down society and drive many students out of a higher education. They'd probably be more likely to join Trump's cult, if they had less education.
The GOP tax plan also eliminates the $2500/year tax credit which was available for each year in college. Parents with a kid in college will get tax increase of $2500 extra taxes paid per year for each year their kid is in college. If they have 2 kids in college,that's $5000 more per year they are going to pay in federal taxes with the GOP plan.
You think a college education was costly before? It's going up by $2500/year with the new tax plan, whether your kid is in a cheap state community college, a public 4 year university or an expensive private college.
This is a tax increase on the middle class and upper middle class.
"The standard deduction would nearly double, to $12,000 for individuals and $24,000 for married couples. Doing so is designed to increase the number of people who end up in a zero percent bracket. Personal exemptions are being eliminated and consolidated into the bigger standard deduction." Did you miss that part?
"The standard deduction would nearly double, to $12,000 for individuals and $24,000 for married couples. Doing so is designed to increase the number of people who end up in a zero percent bracket. Personal exemptions are being eliminated and consolidated into the bigger standard deduction." Did you miss that part?
LOL, they increased one deduction while eliminating and reducing others, meaning you will get no tax break. Did you miss that part?
Original post is a perfect example of why the right is as delusional as the left, just in different directions. I work with a ton of people and ZERO of their kids are living the life described. Their only luxury is many of both sexes rack up a dozen different or better sex partners per year. But that may come back in the future to bite them.
Original post is a perfect example of why the right is as delusional as the left, just in different directions. I work with a ton of people and ZERO of their kids are living the life described. Their only luxury is many of both sexes rack up a dozen different or better sex partners per year. But that may come back in the future to bite them.
Lol the average man is way too awkward to be that successful
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