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Mohamed1993

The republican tax bill would kill PhD students

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https://www.cnbc.com/2017/11/16/house-gop-tax-plan-could-increase-taxes-for-grad-students-by-400-percent.html. Under this bill, grad students will be taxed not only on the amount of stipend they get, but also on the amount of tuition that is waived, so if you earn a 30,000 dollar stipend, and a 50,000 tuition waiver, now you'll be taxed on 80,000 dollars not just the 30 you earn. But corporations get more tax breaks. If there is one great thing about the US, it is the quality of graduate education here and the funding available for research, no country comes close in this regard, the politicians seem really keen on destroying that too. 

Edited by Mohamed1993

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On ‎11‎/‎17‎/‎2017 at 7:32 PM, Ibn Al-Shahid said:

The dumber they keep the population, the easier it is to control them.

The American motto.

Another way which is applicable to college students is to Teach Plausibilities.

This way, nearly any politically orient promise is plausible.

The somehow, maybe, as-if-by-magic "it" will happen.

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I was a PhD student in the US, but I never finished my dissertation. I went back into the private sector, which turned out to be a very good idea.

What isn't mentioned in this article, is that while students did not have to declare their tuition stipend on their federal taxes, they did have to declare the stipend as income on their state taxes. I had to do this every year, meaning that I DID pay taxes on that. 

We will have to see what the final tax bill looks like. This provision might be dropped. 

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1 hour ago, Silas said:

I was a PhD student in the US, but I never finished my dissertation. I went back into the private sector, which turned out to be a very good idea.

What isn't mentioned in this article, is that while students did not have to declare their tuition stipend on their federal taxes, they did have to declare the stipend as income on their state taxes. I had to do this every year, meaning that I DID pay taxes on that. 

We will have to see what the final tax bill looks like. This provision might be dropped. 

For all states? 

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also, scholarships would not be taxable, which means that colleges would have to reclassify work-study tuition waivers as scholarships in order to prevent their graduate assistants from having to pay more taxes. So the tuition-waiver would be free from taxes, but if you did some work at the university in which you were paid by the hour, etc., that would be subject to taxes (just like it is now)

Really nothing to worry about here: it is a clerical issue 

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1 hour ago, Silas said:

also, scholarships would not be taxable, which means that colleges would have to reclassify work-study tuition waivers as scholarships in order to prevent their graduate assistants from having to pay more taxes. So the tuition-waiver would be free from taxes, but if you did some work at the university in which you were paid by the hour, etc., that would be subject to taxes (just like it is now)

Really nothing to worry about here: it is a clerical issue 

Good to hear, I'm thinking about grad school, if I can't afford it then would have to think about considering other countries, where funding isn't as readily available as it is here. What was your grad program in? 

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