How to Destroy America's Future

The proposed new Tax Plan as many destructive elements. It helps the rich but destroys our future. For example, Nature states:

Graduate students, who receive the lion’s share of tuition waivers, would be most affected. And 60% of the 145,000 students who get tuition reductions each year are working in science, engineering, technology and mathematics fields, the US Department of Education estimates. The amount of money that the government would reap from these taxes would be minuscule, given the $20.5-trillion national debt. But it could weigh heavily on young scientists. Take a hypothetical PhD student at the Massachusetts Institute of Technology (MIT) in Cambridge, in receipt of a $23,844 NIH stipend. Under the current system, she would pay very little in taxes. The new law would add her $49,000 MIT tuition bill to her taxable income as though she were paid a $73,000 salary — an amount she never actually sees. This would add thousands of dollars to her tax burden. 

Thus, a student would get about $24,000 plus an imputed say $50,000. Under the old plan they paid tax on $24,000. On the new plan it tax on $74,000. Namely with a $12,000 deduction it would be 15% of $62,000 or $9300. That is a 39% tax rate! Plus 3.5% for FICA plus 3% for Medicare plus in Massachusetts an added 8%. This is a 53.5% Tax Rate!

Now we already have 80% of the Grad students funded by their Governments, China and Iran. The remaining 20% are US and are paying the burden. So what will happen. Drug development, high tech development etc will all migrate to these countries. Not to mention weapons development. Eisenhower saw the need for a strong technology core. Team Trump wants to destroy whatever future we may have had.

Pity!