Imagine if your taxes tripled — literally overnight.
The so-called Bush tax cuts are set to expire at the end of the year. That means that all of the current income tax rates will rise to pre-2001 levels overnight. The lowest rate will jump from 10% to 15% and the highest from 35% to 39.6%. Although Congress extended all of the cuts at the end of last year, some Democrats have pledged to let the tax cuts expire for the “rich” — individuals making $200,000, and $250,000 for families. Continue reading
Year in, year out, Washington bestows tuition aid on students and their families. Year in, year out, the cost of tuition surges, galloping well ahead of inflation. And year in, year out, politicians vie to outdo each other in promising still more public subsidies that will keep higher education within reach of all. Does it never occur to them that there might be a cause-and-effect relationship between the skyrocketing aid and the skyrocketing price of a college education? That all those grants and loans and tax credits aren’t containing the fire, but fanning it?
via The government’s college money pit :: Jeff Jacoby.