Recent content by Calheel

Yes, that is a significant issue., too. Does not explain the significant private tuition costs increase (except perhaps, that the competition charging more helps the private schools to charge more).

Not just law school - undergrad too.

I wasn't specifically limiting my above comment to grad school (although I understand it appeared that way in context in reply to Super) But as for grad schools, I guess this gets to Super's issue as to what qualifies as a subsidy (as opposed to the "subsidized" terms used by Dept of Ed). If...

A very good argument could be made that subsidized student loans are the single biggest contributor to the rate of increase of tuition.

Gotcha. So law students are going to have to turn to private loans to fund school, which will limit the number of poor kids and will require law schools to grant more aid and/or slow tuition increases going forward.

Aren’t these loans that you don’t need to payback while in school?

If you itemize. Except now you would only get a $900 deduction, not $1,000. Also, you should have proof of losses - either the losing tickets or contemporaneous receipts (something that very few people have). Per Heelyeah, NC doesn’t let you deduct any gambling losses at all.

Incorrect. I can’t speak to NC, which apparently has some screwed up gambling laws, but under federal law there is no distinction in the type of gambling wins. The reality is that you don’t get tax forms for almost all scratchers, so 99.9% of people aren’t reporting that income. But under...

That is a pretty guarantied way to only get W-2G income reported. Basically, it is a law that effectively requires tax fraud.

So private loans are not capped, correct? This is just federal subsidized loans?

You can only claim them against gambling wins. It is a basket item. Suppose you sit down at a slot machine and win $1,200. Later in the day, you lose $1,200 on the slot machine. For the day, your winnings are exactly zero. Under your theory, you would need to pay taxes on $1,200 of...

Elaboration needed.

So I just read they added an absurd new rule on gambling losses in the BBB. You are only allowed to deduct 90% of your losses against wins. So if you win $9,500 and lose $10,000 in gambling (and technically, you are supposed to report all gambling "sessions" as taxable events -- even if you...

Wait. You think there is a civil cause of action for election interference?

The hatred, jealousy and backstabbing between the various Trump wings is intense. It is one of the reasons I think Trump could never be an effective dictator.