<story><title>Show HN: Effects of House and Senate Bill on California Residents</title><url>http://flu.io/2018-tax-bills/</url></story><parent_chain><item><author>monocasa</author><text>I guess this sort of misses the main point, IMO.&lt;p&gt;Sure, my taxes will go down, but I have grad student friends that may have to drop out because they now have to treat waived tuition as income, and pay ~10k tax on it somehow with their 20k-30k stipend they get.  And I&amp;#x27;ve got friends with kids that are going to see their tax burden go up by thousands.&lt;p&gt;Meanwhile with all of this &amp;#x27;simplification&amp;#x27; and &amp;#x27;getting rid of subsidies&amp;#x27;, we&amp;#x27;re not doing the same for corporate or high income &amp;#x27;subsidies&amp;#x27;.</text></item></parent_chain><comment><author>xyzzyz</author><text>&lt;i&gt;I have grad student friends that may have to drop out because they now have to treat waived tuition as income&lt;/i&gt;&lt;p&gt;If this happens, this will be a huge failure on their institution part. The only reason their tax bill might be affected is due to creative accounting practices of universities, who use the tuition waiver as a way to skim more money from the grants. Universities will just start offering education for free instead of waiving the tuition, and will find a new accounting trick to take money from federal science grants in &amp;quot;overhead&amp;quot;.</text></comment>
<story><title>Show HN: Effects of House and Senate Bill on California Residents</title><url>http://flu.io/2018-tax-bills/</url></story><parent_chain><item><author>monocasa</author><text>I guess this sort of misses the main point, IMO.&lt;p&gt;Sure, my taxes will go down, but I have grad student friends that may have to drop out because they now have to treat waived tuition as income, and pay ~10k tax on it somehow with their 20k-30k stipend they get.  And I&amp;#x27;ve got friends with kids that are going to see their tax burden go up by thousands.&lt;p&gt;Meanwhile with all of this &amp;#x27;simplification&amp;#x27; and &amp;#x27;getting rid of subsidies&amp;#x27;, we&amp;#x27;re not doing the same for corporate or high income &amp;#x27;subsidies&amp;#x27;.</text></item></parent_chain><comment><author>koolba</author><text>Mortgage interest, local property taxes, and state taxes deductions are the biggest high income subsidies.</text></comment>