Should a parent's income be considered for...

[OGputtnfool]

In your hypothetical world where the government gives no financial assistance to any students, then parental income doesn't matter and you asking whether it should be a factor is a moot question. You even asking the question presupposes that the government is giving some people financial assistance. Otherwise your question has zero point.

Let's try it this way. In the real world, where the government provides lower income students taxpayer-subsidized financial assistance, should income of the student's parents be relevant to determining whether to give that student assistance. Of course it should! The only position you can have if you disagree with this is that other taxpayers should pay for your child even if you have the means to do so yourself.

No. I think the adult child should pay his way through school no matter his parent's income and no matter the fact that the gov't hands out other peoples' money.

 

[Bethpage Hack]

It doesn't presuppose anything. It is the current system that is FUBAR.

Why should one adult taxpayer have more responsibility for anything funded by taxes (roads, police services, etc.) than another taxpayer?

With that logic you can take it one step further. Should taxpayers who pay more taxes have access to more because they pay more? or should everyone pay the exact set number for taxes each year (if so how could that system sustain)? Economics in a democracy (in general), are complex. What I think is crazy is that our govt supplements Walmart workers (Walmart is one of the strongest companies in the world), with food stamps and healthcare because Walmart doesn't pay enough to its workers (or structures hours so they can't be full time or eligible for benefits), yet people will complain about the longlines at these retailers, when they can't get people to work these jobs. In order for America to run we need people at all income areas. With this we need a tax system, and entitlements in some form that keeps us moving. And yes the system is FUBARed. But no one can agree on a better one.

 

[OGputtnfool]

or should everyone pay the exact set number for taxes each year

We should be in control of how much tax we pay. Some would pay more. Others would pay less.

 

[Bethpage Hack]

We should be in control of how much tax we pay. Some would pay more. Others would pay less.

 

[OGputtnfool]

If you thought that was a joke, you obviously haven't researched it enough.

 

[Bethpage Hack]

If you thought that was a joke, you obviously haven't researched it enough.

I thought you were were kidding.....
You were talking about taxes in general right? or tution?
No way it would work fr taxes

 

[Bethpage Hack]

I thought you were were kidding.....
You were talking about taxes in general right? or tution?
No way it would work fr taxes

But I definitely have done zero research in fairness

 

[tahoebum]

Having done that for the past 16+ years, I can tell you that it is a little less real world, We put away $200 a month since birth (in a 529b), she is almost 17. We are at closer to $90K, there was some economic downturns (2) that hurt, the last few years have been good though. Not quite enough for State tuition/Room Board but close.

We went through the college search process (recruited athlete, plays lax, and there are no full rides to most schools for lax, due to each team having 11.5 scholarships to share). Here are the breakdown of her offers the first number is the number with academic scholarship and financial aide (estimated). 103 weighted average, 29 ACT as a Sophomore (recent ACT is higher, but at the time of these offers went by the 29).
Georgetown - 69k need and academic (50K after athletic scholarship)
Binghamton (State Univ). 24K (no academic) (2500 w/athletic)
Colgate Univ. 50K need and academic (30K w/athletic)
Yale 64K (they do not give athletic $)
West Point - (all students go on scholarship, but owe 5 years service).

As you can see the privates are still super expensive (50-69K after academic $$ for a strong student) compared to a state university in NY (24.5K Tuition/room and board)

It is crazy how expensive college became over the last 30 years - about triple the cost adjusted for inflation compared to 1988 when I graduated. We will have two college grads by May of 2022 just in time for our youngest to start college in 2023, lol. There are lots of private scholarships to apply for as well. My son's girlfriend received six or seven scholarships that totaled about $30k per year. Part of the overall cost consideration with state and private is the 4-year graduation rates are much higher at most private schools so most will be done in 4 years. At my son's school something like 76% graduate in 4 years and the public college average is only 33%. Many will have an extra 9-12 months of college costs and a year of lost wages of about $50-$70k.

 

[LICC]

We should be in control of how much tax we pay. Some would pay more. Others would pay less.

If every person was in control of how much tax they pay, why would anyone "pay more"?

 

[LICC]

It is crazy how expensive college became over the last 30 years - about triple the cost adjusted for inflation compared to 1988 when I graduated. We will have two college grads by May of 2022 just in time for our youngest to start college in 2023, lol. There are lots of private scholarships to apply for as well. My son's girlfriend received six or seven scholarships that totaled about $30k per year. Part of the overall cost consideration with state and private is the 4-year graduation rates are much higher at most private schools so most will be done in 4 years. At my son's school something like 76% graduate in 4 years and the public college average is only 33%. Many will have an extra 9-12 months of college costs and a year of lost wages of about $50-$70k.

Government student loans are a big reason tuition costs have skyrocketed.

 

[OGputtnfool]

If every person was in control of how much tax they pay, why would anyone "pay more"?

Really? We've been over this. The Fairtax.

 

[OGputtnfool]

Government student loans are a big reason tuition costs have skyrocketed.

... and federal grants, etc.

 

[LICC]

No. I think the adult child should pay his way through school no matter his parent's income and no matter the fact that the gov't hands out other peoples' money.

Then why are you bothering to ask if a parent's income should be a factor in receiving financial assistance if you think the child should not get any financial assistance?

 

[LICC]

Really? We've been over this. The Fairtax.

Which means you are not in control. You have to pay the sales tax. Mandatory.

 

[OGputtnfool]

Then why are you bothering to ask if a parent's income should be a factor in receiving financial assistance if you think the child should not get any financial assistance?

Because I think it's stupid that the gov't asks for it if the prospective student does ask. See, my kid is an adult. If he wants to apply for gov't assistance, then who am I to stop him? Henceforth, he's on his own and my income shouldnt be a factor.

 

[OGputtnfool]

Which means you are not in control. You have to pay the sales tax. Mandatory.

You like going in circles. This has been explained to you before. It'd be so much easier in person.

The Fairtax is a consumption tax and is only taxed on new items that the individual taxpayer chooses to purchase.

Lower income families obviously don't have the buying power of higher income families. So, they'd likely spend far less AND would likely opt to buy used items often.

Higher income families buy more new stuff and more expensive stuff... voluntarily.

 

[campilobaxter]

It doesn't presuppose anything. It is the current system that is FUBAR.

Why should one adult taxpayer have more responsibility for anything funded by taxes (roads, police services, etc.) than another taxpayer?

Because it's your kid!

Sent from my HD1907 using Tapatalk

 

[LICC]

Because I think it's stupid that the gov't asks for it if the prospective student does ask. See, my kid is an adult. If he wants to apply for gov't assistance, then who am I to stop him? Henceforth, he's on his own and my income shouldnt be a factor.

Therefore, you believe that other taxpayers should pay for your child even if you have the means to do so yourself.

 

[LICC]

Because it's your kid!

Sent from my HD1907 using Tapatalk

Thank you! He seems to think that once his child hits 18, a magic switch goes off and he has no more responsibility and now his child should get money from other taxpayers rather than his financially capable parents.

 

[tahoebum]

Government student loans are a big reason tuition costs have skyrocketed.

Yep, the unintended consequences that are so obvious to many of us when the government intrudes unnecessarily into our lives that the politicians and regulators are either blind or apathetic about, likely both. I'm enjoying watching the accelerating migration out of high tax states to lower-tax states like Florida and the politicians' response to it. The response of places like NY or CT where the residents are leaving in droves is to raise taxes even further, lol.

South Florida sees swell of new residents moving from high-tax states

There’s new evidence to help show that many Northerners are packing their belongings — and bank accounts — and heading to Florida and other zero income-tax states. Newly released …

www.sun-sentinel.com

 

[LICC]

Yep, the unintended consequences that are so obvious to many of us when the government intrudes unnecessarily into our lives that the politicians and regulators are either blind or apathetic about, likely both. I'm enjoying watching the accelerating migration out of high tax states to lower-tax states like Florida and the politicians' response to it. The response of places like NY or CT where the residents are leaving in droves is to raise taxes even further, lol.

South Florida sees swell of new residents moving from high-tax states

There’s new evidence to help show that many Northerners are packing their belongings — and bank accounts — and heading to Florida and other zero income-tax states. Newly released …

www.sun-sentinel.com

Yes, government causes a problem and then politicians promote more government intervention to deal with the problem caused by government intervention.

 

[OGputtnfool]

Because it's your kid!

Sent from my HD1907 using Tapatalk

Should I still pay for his car, house, insurance, groceries, golf clubs, clothes, etc., too?

 

[OGputtnfool]

No. I think the adult child should pay his way through school no matter his parent's income and no matter the fact that the gov't hands out other peoples' money.

Therefore, you believe that other taxpayers should pay for your child even if you have the means to do so yourself.

Thank you! He seems to think that once his child hits 18, a magic switch goes off and he has no more responsibility and now his child should get money from other taxpayers rather than his financially capable parents.

Seems we need to revisit post #9177706 again.

 

[LICC]

Should I still pay for his car, house, insurance, groceries, golf clubs, clothes, etc., too?

Are there government programs to give him taxpayer money to pay for his car, groceries, golf clubs, etc?

 

[OGputtnfool]

Are there government programs to give him taxpayer money to pay for his car, groceries, golf clubs, etc?

Likely, but that doesn't matter. Some of you seem to think the parents should continue to financially support their kids even after they should be on their own.

 

[LICC]

Likely, but that doesn't matter. Some of you seem to think the parents should continue to financially support their kids even after they should be on their own.

No, I'm saying that before taxpayer money goes to a teenager, that the parents' income must be screened because you are responsible for your children before other taxpayers are.

 

[BigTex]

The thing that drives me crazy about this whole process is the inconsistency on if they are treated as adults or kids. So, the parents financial position is used to determine if or how much financial aid is given a student. Given this, it is presumed the parents will continue to provide financial assistance. As the parent of a minor you are responsible for this and as a consequence have access to all matters pertaining to it. Medical files, grades, academic status etc. But, with colleges the student is considered an “adult”. So, even though the parent is considered to continue to be responsible for the student financially, they will not allow them to access any records without the expressed written consent of the student. Without a medical power of attorney you cannot even have a say in medical emergencies if your child is incapacitated.

This needs to be an “either or”. They are treated as adults and all that goes with it or treated as dependents and the parents having all the same rights they have when the kid is in high school.


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[OGputtnfool]

No, I'm saying that before taxpayer money goes to a teenager, that the parents' income must be screened because you are responsible for your children before other taxpayers are.

... and I'm saying it's stupid to consider a parent's income for an adult child's assistance. You think they do that for food stamps? No. Ya know what? It's stupid.

 

[LICC]

... and I'm saying it's stupid to consider a parent's income for an adult child's assistance. You think they do that for food stamps? No. Ya know what? It's stupid.

Actually yes, they do screen the parent's income for food stamps for children age 21 or under.