Via the New York Times (article by Alan Rappeport and Thomas Kaplan) (emphasis mine):
(Say, where the H-E-double-hockey-sticks did this provision come from? Who decided this particular clause would be a good idea? Shouldn't some enterprising reporter find themelon farmer distinguished gentleman or gentlelady that inserted this provision into the bill?)
The final bill adds back many of the prized tax breaks that were stripped by the House legislation, including allowing taxpayers to continue to deduct high out-of-pocket medical expenses and the interest paid on student loans. It will also continue allowing graduate students who receive tuition waivers to avoid paying taxes on that benefit.Good news for graduate students.
(Say, where the H-E-double-hockey-sticks did this provision come from? Who decided this particular clause would be a good idea? Shouldn't some enterprising reporter find the
More like "less awful news". This tax bill is an atrocity on multiple levels, including multiple methods of screwing science, education, and universities (and pretty much anyone earning under $100k or so). It's also full of loopholes that the rich will walk right through with ease. Hmmm....scratch that. They are not so much "loopholes" but wide-open barn doors with "IRS escape route - wealthy donors only" written above it in bright neon.
ReplyDeleteI know the biggest tax deductions come from royalties and rental properties; ironic that our president makes a majority of his money from this...
Delete(sung to the tune of the chorus of"brick house"):
ReplyDeletetrickle down,
trickle down,
trickle down, down-now....
Lots of other places on the internet to talk about the relative merits (and not) of the overall bill and its sponsors.
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