^They’ll all just be called “fake news” anyways.
The Senate bill opens drilling in the Arctic Wildlife refuge. This is an interesting article on it. I was wondering how they got around the Byrd rule on it:
“Is the Senate version “better” than the House version? At least it doesn’t have the grad tuition waiver tax, right?”
Yes, you are correct @sylvan8798. https://www.insidehighered.com/news/2017/12/02/tax-bill-key-implications-colleges-clears-senate
The recovery has been long and slow for a number of reasons. Honestly, notional corporate tax rates aren’t one of them.
My employer used the recession and years following as an opportunity to shed employees and hold wages down. Exec wages grew as “we need to keep good ones”. The billions in cash held by companies as we moved beyond 2008 was not used to hire. As birth rates continue to decline, we get to the point where there aren’t more people to hire nor can productivity go up exponentially.
When I hear certain pundits try to compare this recovery with those of decades ago, I laugh. They are not remotely the same.
Another effect on higher education: I read an article last week about how the proposed tax bill would hurt universities by taxing their licensing income on logo items, like hats, tshirts, sweatshirts. Some of the big athletic programs make millions of dollars on these items and I guess the income is tax exempt. I just saw a tweet by Senator Claire McCaskill decrying a list of amendments that came from lobbyists (!!!). Included in the list, I see: “Hatch #1724 - Strike the provision treating name and logo royalties as UBIT” so it looks like that “problem” was solved. (I had to google UBIT - UBIT (Unrelated Business Income Tax) is a tax imposed on the unrelated business income generated by tax-exempt organizations. … Such income is exempt even if the activity is a trade or business.)
My grad friends from all over the country are massively freaking out on social media this morning 
There is a special place in hell for senators that wouldn’t even budge to move the corporate rate up 1%.
“Rubio and Lee had suggested paying for their idea by lowering the corporate tax rate from 35 percent to 21 percent instead of 20 percent. ‘We could have helped so much more,’ an exasperated Rubio had said earlier Friday, anticipating defeat. ‘With less than that one percent difference, we can make a huge difference in the lives of millions of Americans making between $20,000 and $50,000.’”
@partyof5, Do not be fooled by this. It is SO hypocritical. I cannot swear on CC but this is SO disingenuous. He could have simply written the bill at 21%. He had control. He was not anticipating defeat. He was engineering defeat. A complete sham.
“Let’s disbase ourselves of this idea that Marco Rubio does not know exactly what he is doing.”
He is lying and I would happily say so to his face.
So true – they never seem to work so hard to “keep the good ones” among the actual people who do work.
I never knew that all those T-shirts and hats with university logos were tax exempt. I don’t see any reason why they should be.
That will hurt a lot of big name schools with a lot of grads, including some in red states.
Every tax hurts somebody. They’ll just raise the price of a T-shirt a buck or two. Or cut the multi-million dollar salaries of the football coaches (which at a state school is a crime).
Or raise tuition and fees, or reduce financial aid.
@Dave_N I’m no Rubio fan but did he have a hand at writing the bill? It seems the GOP shut out a majority of its members as well as the Dems.
The issue is that they will lose sales and thus revenue because price of stuff will be more expensive. If they raise the price of stuff even higher they will lose even more sales.
To make up for the lost revenue they couid also raise tuition and/or give less in FA.
Lol at cutting coaches salaries. You know full well that is never going to happen.
Will coach salaries be affected by the tax on non-profit people earning more than 1 million? Or are they considered state employees at public U’s? What about Duke and the rest? Or was the language worded to be CEO’s of non-profits, which might technically exclude coaches?
Some of these coaches make from $4-7+ million dollars a year and many are their state’s highest paid public employee.
Some of this goes in cycles: http://www.nytimes.com/2009/10/07/science/07darpa.html. ITAR restrictions aren’t set by DARPA and so apply or not, independent of any grant specific language.
And my professor friends.
The conservatives in this country have been trying for on a dismantle-and-remake of our higher ed system for a few decades now. (Kind of an irony, considering the advanced degrees held by many big-name conservatives, but…) After the hits from this tax bill, what I’m really dreading is the upcoming reauthorization of the Higher Education Act.
I’m at my in-laws. My FIL is bragging that he’s getting a MASSIVE tax break. (He’s solidly middle class- I don’t know whether he’s correct).
I explained that me and every single one of his other children and children-in-law are going to see a substantial raise in our taxes.
But he is very much an “I got mine, so screw you” type. He thinks I’m being alarmist.
The corporate rate should have been lowered to 0% to turbocharge the economy. People forget that we are competing with the economies of Asia with much less regulation and lower taxes. Spending must be lowered too so people like @romanigypsyeyes are not paying for the sins of their fathers and grandfathers too.