Quote (Ghot @ Dec 3 2017 05:13pm)
Part of the senate bill is that tuition waivers, which is how virtually everybody who goes to graduate school pays for it, will be taxed as income.
The current structure to attain a graduate level science degree is that you teach in exchange for a very meager stipend (usually 10k-20k a year) and get a tuition waiver.
So let's say that you get a 20k living stipend, and 20k tuition waiver.
Currently you would pay zero on 6350, 10% on 9325, and 15% on the rest.
So it comes out to 1581.25$ in income tax.
The new plan would have you pay zero on 12,000, 10% on 9525, and 12% on the rest. (income is 40k in new system, versus 20k in old system).
In the end you come out to 3169.25$ paid in tax.
You've basically doubled the amount of income tax paid by up-and-coming graduate students, who are the reason we are a science powerhouse in the United States.