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50% of my income goes to student loans
Poast new message in this thread
Date: March 2nd, 2015 10:52 AM Author: blue mischievous therapy 0% tax deductible. Ljl at this shit existence (http://www.autoadmit.com/thread.php?thread_id=2820808&forum_id=2#27415926) |
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Date: March 2nd, 2015 11:48 AM Author: Tan Whorehouse Regret I can understand capping the total amount of the deduction for everyone, but I've never been able to understand the rationale for wiping out the deduction for folks above a certain AGI. It would be awesome if a few heavy hitting politicians took up this issue. I feel like there wouldn't be much, if any, public backlash against the idea of removing the AGI cap. (http://www.autoadmit.com/thread.php?thread_id=2820808&forum_id=2#27416221) |
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Date: March 2nd, 2015 11:50 AM Author: Translucent Striped Hyena from the gov'ts perspective it's giving away money without getting anything in return. (http://www.autoadmit.com/thread.php?thread_id=2820808&forum_id=2#27416229) |
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Date: March 2nd, 2015 10:29 PM Author: Twisted Theater Masturbator thanks einstein. the same goes for any tax deduction. (http://www.autoadmit.com/thread.php?thread_id=2820808&forum_id=2#27419958) |
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Date: March 2nd, 2015 10:36 PM Author: metal incel I might understand capping, but not for direct loans. The interest you pay is going to the federal government. How it's okay to deduct my random charitable donations, and my state/local taxes, and my boomer parents' mortgage payments (which are going to a damn bank) but not after-tax interest paid directly to the federal government, is beyond.
Also, the cap is absurdly low (I could maybe get behind it in theory, but isn't it like $2500?), and the AGI cap is insanely low for people with professional degrees. |
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Date: March 3rd, 2015 4:34 PM Author: Tan Whorehouse Regret Update - I did a little research. Apparently Rangel introduced a bill in 2013 that would have doubled the deduction (up to $5k) and eliminated the AGI phase out. I am going to donate to his next campaign.
http://rangel.house.gov/press-release/rangel-introduces-student-loan-interest-deduction-act
It looks like it's stuck in the ways and means committee:
https://www.congress.gov/bill/113th-congress/house-bill/1527/actions
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Date: March 2nd, 2015 8:24 PM Author: Arousing sanctuary gaping If fucking boomers can deduct 100% of interest paid on their SECOND HOUSE mortgage, why the FUCK can't we deduct every penny of interest paid on our student loans?
Fucking BOOMERS! |
Date: March 2nd, 2015 11:00 AM Author: blue mischievous therapy (http://www.autoadmit.com/thread.php?thread_id=2820808&forum_id=2#27415948) |
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Date: March 2nd, 2015 11:02 AM Author: vibrant stead dragon just do PAYE (http://www.autoadmit.com/thread.php?thread_id=2820808&forum_id=2#27415961) |
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Date: March 2nd, 2015 11:04 AM Author: blue mischievous therapy Have pre 2007 loans. Also, worried that PAYE is going to blow up in the next year or two. (http://www.autoadmit.com/thread.php?thread_id=2820808&forum_id=2#27415972) |
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Date: March 2nd, 2015 11:05 AM Author: vibrant stead dragon damn.
It will almost assuredly eventually be changed to be less generous, but people on the program already should be fine. |
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Date: March 2nd, 2015 11:49 AM Author: curious dilemma keepsake machete you can always continue to pay your 50% amount, but it would be smart to sign up for an income based plan as a safety net. (http://www.autoadmit.com/thread.php?thread_id=2820808&forum_id=2#27416226) |
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Date: March 5th, 2015 12:57 AM Author: Ocher 180 Mad Cow Disease Gas Station http://www.xoxohth.com/thread.php?thread_id=2822606&mc=6&forum_id=2 (http://www.autoadmit.com/thread.php?thread_id=2820808&forum_id=2#27432270) |
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Date: March 2nd, 2015 11:03 AM Author: adventurous station Just have your parents pay off your student loans, bro. (http://www.autoadmit.com/thread.php?thread_id=2820808&forum_id=2#27415968) |
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Date: March 2nd, 2015 11:09 AM Author: Cracking cobalt alpha just do walk to the bank with Ann and liquidate some American Motors stocks your dad gave you (http://www.autoadmit.com/thread.php?thread_id=2820808&forum_id=2#27416005) |
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Date: March 2nd, 2015 11:12 AM Author: honey-headed fighting mediation It was worth it. You can't put a price on an elite education (http://www.autoadmit.com/thread.php?thread_id=2820808&forum_id=2#27416018) |
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Date: March 2nd, 2015 8:29 PM Author: Mint telephone pocket flask why? PAYE caps it at 10% (http://www.autoadmit.com/thread.php?thread_id=2820808&forum_id=2#27419132) |
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Date: March 2nd, 2015 10:32 PM Author: Crawly Legal Warrant Mad-dog Skullcap *a flock of shitboomers reads this; bashes you for not saving enough for your retirement as another shipment of medicare viagra arrives* (http://www.autoadmit.com/thread.php?thread_id=2820808&forum_id=2#27419973) |
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Date: March 2nd, 2015 10:40 PM Author: mind-boggling box office immigrant Please do not make the tax code more complex and give higher education an additional subsidy. (http://www.autoadmit.com/thread.php?thread_id=2820808&forum_id=2#27420018) |
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Date: March 3rd, 2015 5:23 PM Author: Ebony school cafeteria I'm in biglaw, how much cash should I save before aggresively paying down 150K loan? 25K? (http://www.autoadmit.com/thread.php?thread_id=2820808&forum_id=2#27423732) |
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Date: March 5th, 2015 12:55 AM Author: hairraiser wine hairy legs garrison I wouldn't feel confortable with less than a 9-12 month cushion (as in 9-12 months of non-discretionary expenses). (http://www.autoadmit.com/thread.php?thread_id=2820808&forum_id=2#27432263) |