Taxes would skyrocket for grad student workers under House bill

Share

The Republican tax bill that passed the U.S. House of Representatives would dramatically increase taxes paid by graduate students doing much of the teaching and research on university campuses; we speak with two graduate assistants from the University of South Florida.

Erin Sauer and Marcy Cockrell are co-presidents of USF Graduate Assistants United.

Last Thursday the House passed one version of the bill. A different version (one that does not include the tuition waiver tax, for example) may have a more difficult time in the Senate, though it has passed a committee.

Listen to the full show here:

For example, Columbia grad student Amanda Rose put her finances online to show how she would be affected by the House tax plan. Her numbers were a bit off at first but she has since corrected them. She says she works 60 hours per week and gets a $38,000 stipend from Columbia University ($12.29 / hour). The cost of her tuition plus health insurance is $51,000 / year and it’s waived. So her taxable income would be nearly $90,000. Everyone’s views of avatrade would go up, but her overall taxes would increase from about $3,000 now to $12,000 under the GOP tax plan, an increase of 371%.

According to one Washington Post analysis of the House bill that passed, it keeps the Affordable Care Act’s individual mandate; big businesses win; small businesses get a “mini-win;” the rich do very well, especially Trump; Most Americans pay the same or lower in taxes until 2023 — that’s when key middle-class tax break expires; taxes will get simpler for many; most deductions go away including tax credit for plug-in cars. The total cost: $1.4 trillion.

We’ve seen how lower-income students fare under the GOP. We also look at how others fare. Earlier in his term, President Trump implied the tax plan would hurt him. But An NBC News analysis found that the bill that passed the house could save Trump and his family more than $1 billion  (eliminating the alternative minimum tax, ending estate tax, cutting top tax rate, raising top income threshold for individuals).

Watch the first half of the show here:

 

One Response to “Taxes would skyrocket for grad student workers under House bill”

  1. GMT

    WOW. Listening to how much more money in taxes these grad students would pay shows this *tax reform* is a big fat giveaway to the wealthy — specifically wealthy corporations. Is anyone surprised? No matter what kind of bow President Trump and the GOP put on it, this is not fair tax reform. It’s a way to seriously slash taxes for BIG businesses at the expense of those who earn the least. Reading news stories about the tax plan is confusing, because each tax plan is slightly different BUT they all have one commonality: it is intended to be a tax cut for businesses, and the middle and lower classes are footing the bill. RESIST. After all these bait and switches over this entire year, can ANY person who supported Trump honestly say the voters got good deal?

    Reply

Leave a Reply

  • (will not be published)

XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

You may also like

student meal
Next school year Hillsborough public schools are offering free meals

Hillsborough Public Schools are offering students free meals for the...

Correspondence Through Poetry. A Mind-Numbing Week.

Father Verses Sons: A Correspondence in Poems by Herbert Gold...

The sound of change: Music’s influence on anti-war and human rights movements

Throughout history, music has served as a powerful catalyst for...

a man in a tye dye shirt talking on a radio microphone
Recreational pot for Florida is on the ballot this fall—let’s talk about it

In four months, Florida voters have the opportunity to vote...

Ways to listen

WMNF is listener-supported. That means we don't advertise like a commercial station, and we're not part of a university.

Ways to support

WMNF volunteers have fun providing a variety of needed services to keep your community radio station alive and kickin'.

Follow us on Instagram

Sloughbirn
Player position: