Thursday, April 21, 2011

Should be Net Expense of All Education Loans

Not being incredibly lucky or gifted by birthright I had few options available on how to make myself “successful”

The option I choice is the same option that is available to 95% of all Americans.

Takeout a huge ass loan and go to school, work really hard and finish.

However when most assessments take place they only look @ the gross income or in the very least they deduct the interest that a person pays on their student loan.

So if you spend $100,000 dollars on a degree and you work in a job that earns a $100,000 with your debt and interest, time invested to get there should you be taxed at a higher rate than someone who doesn’t have these expenses but only makes $40,000 a year?

Not really sure where I am going with this but I think all education expenses should be deducted interest and principal and any tax assessment that happens should be leveled against the net of debt and earnings.

Talk about a middle income tax credit that would reshape the country…

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