Drop the crackpot
Graduate Tax which would punish achievement and reward failure; and would also increase the brain drain.
Mr Willetts and business secretary Vince Cable now appear favouring
a graduate tax which could double the cost of going to university, the NUS fears.
Not exact matches
With the cancellation of the health care levy (
which it should be pointed out was
graduated and not a flat amount like the old premium), and the NDP
tax increases kicking in at 130K and not 100K like the Prentice budget, the NDP has made sure the upper middle class (and some of the upper class) are paying less
taxes than under Prentice's budget.
«It is in these circumstances that there is a strong case for a
graduate tax,
which may offer a fairer way of sharing costs between individuals and government.»
Of course I wish that the proposal for a
graduate tax put forward now by the hon. Gentleman's leader,
which comes from a party that introduced tuition fees having previously said that it would not do so, would work and that it was an alternative that we could implement.
After coming out in support of the
graduate tax during his leadership campaign, Mr Miliband's favoured policy was instantly destabilised by outspoken comments from his shadow chancellor saying he still supported tuition fees,
which he originally helped to bring in while in government.
Even as I write, as a NINJA student I can access tens of thousands of pounds of credit (besides that
which the government's
graduate tax provides) without getting up from my desk.
We went from a flat
tax in the State of New York, where everyone paid the same income rate, regardless of how much income they earned to a
graduated rate
which is much more fair for the people of this state.
It retains the historic
tax credit,
which was used to restore the Hotel Syracuse, it no longer
taxes the tuition waivers that some
graduate students use to pay for school and it allows taxpayers some flexibility on whether they want to deduct their state income, sales or property
taxes - capped at $ 10,000.
In addition, Miliband will leave the way open for the whole system of tuition fees to be scrapped later and replaced by a
tax on
graduates,
which supporters see as a fair way of stopping students running up huge debts.
Cable's idea of a
graduate tax was «full of problems», Cameron said,
which meant «everybody has to compromise».
With a
graduate tax, fees are not paid up front (adding to the PSBR) but future
tax liabilities can not be shown as an asset so the balance sheet looks worse —
which the Treasury, the last Labour Government, the Coalition and Alan Johnson want to avoid.
Therefore, I believe in a
graduated income
tax on big fortunes, and in another
tax which is far more easily collected and far more effective - a
graduated inheritance
tax on big fortunes, properly safeguarded against evasion, and increasing rapidly in amount with the size of the estate.»
«When I was a Treasury adviser I argued for a
graduate tax, because it was a fairer system
which meant no upfront costs and no assumed debt for students and their families.
And he emphasised his own personal commitment to higher
taxes in the form of a
graduate tax of some sort,
which he told the conference he was pushing for «as best I can».
Slated for elimination under the bill is the Lifetime Learning Credit,
which allows eligible students enrolled in certain institutions to claim a
tax reduction of up to $ 2,000 each
tax year to offset tuition and related expenses for undergraduate,
graduate and professional degree courses.
That may not sound spectacular (though depending on your
graduate program, it may), but Ph.D. stipends are
tax - free in Belgium, thus dodging what would otherwise be a
tax rate of about 50 %,
which puts Ph.D. programs on par with jobs paying $ 62,000 a year.
Currently,
graduate students are
taxed on money they earn working in a laboratory or classroom, but not on tuition discounts they receive from a university,
which can be worth tens of thousands of dollars.
More than 1.2 million students either dropped out of high school or did not
graduate on time in 2004,
which could cost the nation more than $ 325 billion in lost wages,
taxes, and productivity over their lifetimes if they do not complete high school, concludes a report.
The Senate bill,
which passed in early December, did not include many of the most concerning provisions, and the final bill, agreed to by House and Senate Republicans and now nearing a vote, preserves the
tax - exempt status of
graduate student tuition waivers and does away with the House bill's most serious impacts on higher education.
But it's naughty to support
tax reform
which would curtail the privileges accorded to
graduate students and deep - pocketed colleges.
The House version also
taxes tuition waivers —
which allow many
graduate students to attend school tuition - free — as income, raising the ire of students who said such a levy would make their education unaffordable.
This is because of the
graduated nature of the
tax rates,
which applies higher
tax rates to higher income rates.
Additionally, Dr. Bradshaw proposed that repayments should be made through a special arrangement that would take money out of the student debtor's salary,
which would hypothetically reduce the
tax burden on
graduates.
I had a partial scholarship in college and a
graduate stipend and tuition remission in
graduate school,
which was not enough to live on after
taxes (and not
taxed before Reagan).
Karen P. Sampson
graduated with honors from the State University of New York at Albany and received her Juris Doctorate
which included
Tax Honors with Distinction from Rutgers University School of Law.