What in the wide wide world of sports is a goin' on here?

COLLEGE athletes are allowed to unionize? Don't they know they're AMATEURS? Only in Chitcago.

Interesting comment made: That if student athletes are employees then their scholarships should be taxable income. That could hurt at schools like Northwestern where tuition alone is $45K which would put them in a 25% marginal tax bracket.

And the shyster doesn't want scolarship. No, he demands cash money.

Should just ban varsity sports the way the University of Chicago did for 30 years 1939-1969. They play Division III now.

They should be taxed on their scholarships. It is income. Anybody that gets a job to save for college has to pay taxes on their earnings. So should those that get free or partial rides.

My son graduated from high school last year. He wasn't sure what he wanted to do and he didn't want to go into debt so he decided to take a year and work for college. He's figured out what he wants to do now and he is saving quite a bit. By the time he starts college this fall he will have at least two years of college saved up for (including tuition and room and board).

The job he has pays well for someone right out of high school, but he's also putting in a ton of hours. He has to work his butt off, but he is a hard worker. Some weeks his take home is over $1200 a week. And because he's working so hard, he has no time to spend it. Most of it will go towards his education.

I am glad he is not like a lot of the young people of today--thinking they are entitled to free health care, free education, etc. He knows he has to earn his way.

Here's an explanation of current IRS guidelines concerning scholarships as taxable income.

"The scholarship or fellowship money is used for qualified expenses, which include tuition and fees, books, and course- or degree-related costs (like supplies required for specific classes). This is important: Room and board, travel, or other expenses associated with a college education are not considered qualified expenses and are therefore taxable. I'll revisit this idea below.

The money does not represent wages for teaching or other work. So if your son serves as a teaching assistant or a research or lab assistant, or has some other kind of job, even if directly related to the degree being pursued, that money is taxable."

And

".. scholarship or fellowship money that represents compensation is taxable. Let's say your son is a grad student with a fellowship worth $20,000 that requires him to be a teaching assistant or a research assistant. Some portion of that $20,000 will be considered compensation for services, and he'd receive a W2 form from the university. That amount is taxable income, regardless of how the money is used. In other words, even if the entire portion that represents compensation goes to tuition and other qualified expenses, the IRS considers it income, and he'd be liable for taxes on that income."

http://www.schwab.com/public/schwab/resource_center/expert_insight/ask_carrie/taxes/is_a_scholarship_considered_taxable_income.html

It would appear that if athletes are receiving compensation for their athletic abilities rather than merit as the NRLB ruled then indeed that scholarship becomes taxable income.

My eldest daughter had to pay taxes on many of her grants/fellowships she received as a graduate assistant/research assistant while she was working on her PhD and later as a Post Doc.

BladeRunner wrote:They should be taxed on their scholarships. It is income. Anybody that gets a job to save for college has to pay taxes on their earnings. So should those that get free or partial rides.

My son graduated from high school last year. He wasn't sure what he wanted to do and he didn't want to go into debt so he decided to take a year and work for college. He's figured out what he wants to do now and he is saving quite a bit. By the time he starts college this fall he will have at least two years of college saved up for (including tuition and room and board).

The job he has pays well for someone right out of high school, but he's also putting in a ton of hours. He has to work his butt off, but he is a hard worker. Some weeks his take home is over $1200 a week. And because he's working so hard, he has no time to spend it. Most of it will go towards his education.

I am glad he is not like a lot of the young people of today--thinking they are entitled to free health care, free education, etc. He knows he has to earn his way.

I worked my way through college. I refuesd the grants and loans route, so I went to the Permian Basin oil fields to pay for my college. When the filthy muzzies glutted the market, there went my college.

What gets me is the people that are hoping that their student loan debt will be forgiven. There was one on GPLV that said he was doing that. Of course we couldn't talk about that person on GPLV because we would get moderated or banned.

Anyway, I work with a person who mentioned the other day that his wife was hoping to get her loan forgiven.

That pisses me off. Why should ANY debt a person commits to repay be forgiven?

BladeRunner wrote:What gets me is the people that are hoping that their student loan debt will be forgiven. There was one on GPLV that said he was doing that. Of course we couldn't talk about that person on GPLV because we would get moderated or banned.

Anyway, I work with a person who mentioned the other day that his wife was hoping to get her loan forgiven.

That pisses me off. Why should ANY debt a person commits to repay be forgiven?

Ummmmm, votes for the Democrats.

nightlight88 wrote:

BladeRunner wrote:What gets me is the people that are hoping that their student loan debt will be forgiven. There was one on GPLV that said he was doing that. Of course we couldn't talk about that person on GPLV because we would get moderated or banned.

Anyway, I work with a person who mentioned the other day that his wife was hoping to get her loan forgiven.

That pisses me off. Why should ANY debt a person commits to repay be forgiven?

Ummmmm, votes for the Democrats.

Bingo!

nightlight88 wrote:
Ummmmm, votes for the Democrats.

Yeah, I already know that.

I just noticed this topic came up over at the cesspool

Is it a coincidence that the story linked is the EXACT came story that sodaknomad linked here????

Or are they reading our threads to get informed.....  

BladeRunner wrote:

nightlight88 wrote:
Ummmmm, votes for the Democrats.

Yeah, I already know that.

I just noticed this topic came up over at the cesspool

Is it a coincidence that the story linked is the EXACT came story that sodaknomad linked here????

Or are they reading our threads to get informed.....  

I got this story through my Facebook page. It's possible that the cesspool got it from here. It's also possible they got it either through Facebook or the loval Tass TV news.

BladeRunner wrote:

nightlight88 wrote:
Ummmmm, votes for the Democrats.

Yeah, I already know that.

I just noticed this topic came up over at the cesspool

Is it a coincidence that the story linked is the EXACT came story that sodaknomad linked here????

Or are they reading our threads to get informed.....  

Or it could be that Northwestern University is in Chicago, so it would make sense that the Chicago Tribune is the main source for info. Just a thought.

Twinkies wrote:

BladeRunner wrote:

nightlight88 wrote:
Ummmmm, votes for the Democrats.

Yeah, I already know that.

I just noticed this topic came up over at the cesspool

Is it a coincidence that the story linked is the EXACT came story that sodaknomad linked here????

Or are they reading our threads to get informed.....  

Or it could be that Northwestern University is in Chicago, so it would make sense that the Chicago Tribune is the main source for info. Just a thought.

Who on your pile of $#!t board even reads, let alone reads the Chitcago Tribune.

Twinkies wrote:

BladeRunner wrote:

nightlight88 wrote:
Ummmmm, votes for the Democrats.

Yeah, I already know that.

I just noticed this topic came up over at the cesspool

Is it a coincidence that the story linked is the EXACT came story that sodaknomad linked here????

Or are they reading our threads to get informed.....  

Or it could be that Northwestern University is in Chicago, so it would make sense that the Chicago Tribune is the main source for info. Just a thought.

Just to pick a nit, Northwestern is in Evanston.

This verse reminded me about the person I was discussing earlier---the one wanted his wife's student loan forgiven.

Psalm 37:21

The wicked borrow and do not repay, but the righteous give generously;

Thats bullshit.

Twinkies wrote:Thats bullshit.

So you think it's fine to borrow money and not repay.

I am not surprised you would think that.

Or, are you here for more of your trolling behavior?

BladeRunner wrote:

Twinkies wrote:Thats bullshit.

So you think it's fine to borrow money and not repay.

Absolutely. Let the rich pay for it. They have plenty of money.   

Twinkies wrote:

BladeRunner wrote:

Twinkies wrote:Thats bullshit.

So you think it's fine to borrow money and not repay.

Absolutely. Let the rich pay for it. They have plenty of money.   

Troll  

BladeRunner wrote:

Twinkies wrote:

BladeRunner wrote:

Twinkies wrote:Thats bullshit.

So you think it's fine to borrow money and not repay.

Absolutely. Let the rich pay for it. They have plenty of money.   

Troll  

Nope, really feal that way.

Twinkies wrote:

BladeRunner wrote:

Twinkies wrote:

BladeRunner wrote:

Twinkies wrote:Thats bullshit.

So you think it's fine to borrow money and not repay.

Absolutely. Let the rich pay for it. They have plenty of money.   

Troll  

Nope, really feal that way.

Reelie?