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how the tax bill will specifically affect other Hawaii institutions, organizations, or businesses
Too soon to tell, but I suggest that any household that is "barely getting by" will find themselves "taxed out of the economy", and those in high cost-of-living areas (such as Hawaii) will be hit hardest/soonest.
I would further guess it won't quite happen immediately -- it will be months before we figure out the true impact of the current changes, followed by the years where cuts expire.
Hawaii needs a stronger economy -- both conventional (grow the science/R&D sector, as has been suggested) and alternative (the "underground market" don't pay taxes).
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quote:
Originally posted by HereOnThePrimalEdge
All of the comments so far are part of a discussion we should all be having, but just a reminder, the title of this thread is how the tax bill will affect Hawaii Public Schools.
Also, any comments about how the tax bill will specifically affect other Hawaii institutions, organizations, or businesses would be appropriate. Let's stay away from generic opinions on taxes unless they tie in with Hawaii. Thanks.
"Enlightened statesmen will not always be at the helm." -James Madison, The Federalist Papers, 1787
The education of Hawaii students have been attended to by the party in power for the last 50 years.
Democrats have won both legislative chambers every two years since 1962. In 2016, they just won literally every seat in the 25-member state Senate for the first time since Hawaii became the 50th state in 1959."
5 seats went to republicans in the State House in 2016..
quote from Daily Kaz - Steve Wolf 2016/11/26
Present Tax bill will have little effect in turning the situation of education around in our beautiful State of Hawaii...It's the republicans! HOG WASH!
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"http://www.businessinsider.com/tax-brackets-2018-trump-tax-plan-chart-house-senate-comparison-2017-11"
According to the link on that site, my taxes will be going down around $1,182/year. If that pans out, sounds good to me.
"aren't you tired of spending your grandchildrens money? "
It's not our grandchildren's money we're spending, it's some species that hasn't evolved yet. IF the US tax receipts were bringing in $1 more per second, every second, than the USA was spending... and IF there was no interest on that debt, it would take nearly 32,000 years to pay off one trillion dollars. Our debt is approaching 21 trillion dollars. That's 672,000 years worth of debt based on a theoretical impossibility of generating more tax revenue than we spend in a zero interest environment. That doesn't include unfunded liabilities (between 100-200 trillion dollars, based on which economist you believe). 220 trillion dollars is more money than even exists in the known universe. That's 7 million years worth of debt. My grandchildren will have been long gone by then.
"All of the comments so far are part of a discussion we should all be having, but just a reminder, the title of this thread is how the tax bill will affect Hawaii Public Schools."
https://qz.com/1145239/gop-tax-bill-2017...c-schools/ "That means that the ” school tuition” that parents of public school kids are paying, in the form of state and local taxes, isn’t deductible from their federal taxes, and public schools themselves will have less money to spend on kids. But rich families who can afford private school get a brand new tax break. That’s a win for the 10%." (This article has been corrected. It originally said erroneously that contributions to 529 plans don’t incur federal tax. Earnings on 529 plans, as opposed to contributions, are tax-free. )
People with kids in private school pay the same into the public school system as people with kids in public schools. They pay for services they aren't using. The only tax break they get is from earnings they get on the money they set aside to pay for private tuition. They already paid taxes on that money the first time they earned it. I fail to see how the public schools are getting 'screwed' by this process. Anybody can use this process, we used it when we were saving for our daughter's college, and she goes to a public university.
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HOG WASH!
Have you ever been in a public school classroom while class is in session?
I think the adage "You can lead a horse to water, but you can't make him drink" has more to do with the state of education in Hawaii than any other factor. I have seen teachers try their best to teach, only to have one or two students disrupt the lesson.
That being said, we build the schools, we hire teachers and administrators, buy desks and equipment, and ring the bell. A good student will learn.
No matter what you think of the current state of education in Hawaii, I don't think cutbacks would improve the situation, especially for the keiki who want to be there.
I can tell you what won't lead to better test results. Giving a giant, permanent tax break to a multimillionaire so he can trade in his Maserati for a newer model.
"Enlightened statesmen will not always be at the helm." -James Madison, The Federalist Papers, 1787
"I'm at that stage in life where I stay out of discussions. Even if you say 1+1=5, you're right - have fun." - Keanu Reeves
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You just described "trickle down" economics. That new Maserati means jobs!
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"trickle down" economics. That new Maserati means jobs!
Good example.
Maserati cars are manufactured in Italy.
What's trickling down?
Who's it trickling on?
Future Hawaii public school students.
"Enlightened statesmen will not always be at the helm." -James Madison, The Federalist Papers, 1787
"I'm at that stage in life where I stay out of discussions. Even if you say 1+1=5, you're right - have fun." - Keanu Reeves
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People with kids in private school pay the same into the public school system as people with kids in public schools. They pay for services they aren't using. The only tax break they get is from earnings they get on the money they set aside to pay for private tuition. They already paid taxes on that money the first time they earned it. I fail to see how the public schools are getting 'screwed' by this process. Anybody can use this process, we used it when we were saving for our daughter's college, and she goes to a public university.
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Thank you, terracore, for the nice response.
Ant to HOPTE - If ever increasing money to public education on the guise of "for the children" hasn't worked for 40+ years under Democratic rule, then more money isn't the answer! All we have done is enable teachers to make $100k a year with pensions and benefits that are not available in the private sector.
ps - don't tell me to provide proof of $100k a year teachers. It is PUBLIC INFO and all of the state complexes have to provide it if you file a FOI request. I have provided this before, on Punaweb.
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being a devils advocate .....would the inverse hold true for Maui where the income demographics are the opposite of the Big Island?
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leilanidude,
Admittedly, you might find a handful of 65 year old teachers in Hawaii who make $100,000 salary & benefits, after 43 years on the job. But as you well know, starting pay is $45,000, and average pay is $57,000, a far cry from the magical mythical unicorn wage of $100,000:
http://www.hawaiinewsnow.com/story/31260...s-for-many
"Enlightened statesmen will not always be at the helm." -James Madison, The Federalist Papers, 1787
"I'm at that stage in life where I stay out of discussions. Even if you say 1+1=5, you're right - have fun." - Keanu Reeves
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https://drive.google.com/file/d/0B0JQ2SW...NEY2c/view
I don’t know the cash value of benefits, but I imagine you could add at least 12k to the salary for health insurance alone.
Cheers,
Kirt
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