In a “Letters To The Editor”, Nov. 30, 2017, edition of The World, Zofia Knorek states a “tax burden” of $1,500. If this was Ks’ federal tax liability and not the tax withheld by the employer for tax year 2016, and K is single, then the taxable income was $15,000. The adjustable gross income would have been $25,350, when the $6,300 personal exemption (provided K was not claimed as a dependent on a parents return) and the $4,050 standard deduction are added back to the taxable income. A good graduate student income, or any student for that matter, “working 40 to 80 hours a week”.
The number of grad students, “145,000”, nationwide pales in comparison to the number of senior, moderate, and low income tax paying folk nationwide who need relief.
When K determined the tax liability due to the proposed bill for 2018, there was no consideration as to what the tax brackets would be or what the tax rate for those brackets would be. But then isn’t this just what the former House majority leader said about the Affordable Care Act? “We have to pass the bill before we find out what is in it”.
Addressing taxing free money or taxable wavered tuition: Did you know most people consider Social Security benefits to be free money? Do you also know that many seniors pay income tax on part of their Social Security benefits? As a matter of fact, my wife and I pay income tax on 85 percent of our Social Security benefits for which we worked more than half a century. Hopefully K won’t be a grad student for the next 30 or so years and be required to deem waived tuition as taxable income.
Shouldn’t we all be thinking of the majority of tax paying folk in our country and not just regurgitating opposition talking points or things we see on the internet while claiming the sky is falling on only our heads?
K should enroll in an under grad course covering federal income tax to learn just how deeply big government is reaching into a pocket and just who that pocket belongs to.