re: The Two Parent Privilege

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So STO is not just all about kids, it's all about non rich kids.
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But you know the horrible results in Louisiana, so how can you say that?

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The School Tuition Organizations are simply repositories for funds. They can only spend donations on facilities and programs which the state approves.

Unfortunately, as you note, virtually every quality program in the state has been excluded from STO aid. It seems people genuinely interested in kids would do everything possible to incorporate the best programs/schools. Yet, just the opposite occurred vis-a-vis poison pills. Who do you think inserted the poison?

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People are using the donations to decrease their tax burdens.

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Run the numbers, then show your work.

People are using the donations to DIRECT their tax burden. Those contributions are directed into STOs as opposed to other public interests. It is a process described as siphoning money from public schools and directing it instead to STOs. That pisses off public school apologists, who put their public school loyalties ahead of any concern about children relegated to the system. That's why public school loyalists undercut quality school participation in the voucher program.

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Run the numbers, then show your work.

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What numbers? Ives linked two totally unrelated sources that acknowledge the STO donations are a workaround to tax deduction limitations. Will failing voucher schools ultimately get some of the money? It looks like it. I refuse to applaud that. The donors get 100% of the their donations refunded, which is why they are donating to begin with: to lower their tax burdens and then recoup the donation at the end, after paying fewer taxes.

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That's why public school loyalists undercut quality school participation in the voucher program.

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if 100% of schools who apply to accept vouchers are approved, how is anyone outside of the administration of these programs excluding quality programs from participating?

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The donors get 100% of the their donations refunded, which is why they are donating to begin with: to lower their tax burdens and then recoup the donation at the end, after paying fewer taxes.

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How many instances in the state involve donations beyond the standard deduction threshold?

I ask because you may be conflating and combining tax advantages of credits with those of deductions

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If "Ives linked two totally unrelated sources that acknowledge the" existence of bigfoot, would you believe him? Would you taut those "two totally unrelated sources" as proof bigfoot exists?

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So now the proposition of politicians legislating tax breaks for the wealthy is so preposterous that you’re equating it with fairytales? Because politicians never help the wealthy.

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Ives

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I’m 100% guilty of posting a typo.

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Say for example, in the case of a couple w/ a $300K income w/ & w/o a $25K donation to an LA STO.

Show how the STO donation leaves that couple with more money. Just plug in the numbers yourself and try to prove Ives' claim.

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The couple will itemize deductions to include the $25,000 donation. Their taxable income is no longer $300,000 but $275,000. So instead of paying taxes on $300k, they now will only pay taxes on $275k. Then they will get the $25k donation refunded on their state tax refund.

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I’m 100% guilty of posting a typo.

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FWIW, I had no idea Ives was incorrect.

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The couple will itemize deductions to include the $25,000 donation. Their taxable income is no longer $300,000 but $275,000. So instead of paying taxes on $300k, they now will only pay taxes on $275k. Then they will get the $25k donation refunded on their state tax refund.

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So with a tax deduction Their taxable income is no longer $300,000 but $275,000. Which would save them 6% X $25K, or ~$1500.

With tax credit, there is no state tax deduction. However, the STO tax credit is awarded dollar for dollar.

So for $300K income on an LA return:

(1) No deductions/credit, tax on $300K would run ~ $16,750 leaving $283,250 post-tax

(2) $25K tax deduction, taxable income $275K. State tax on $275K would run ~$15,250 and with the $25K giveaway tallied, post-tax income would be $259,750

(3) $25K tax credit, tax on $300K income would run ~ $16,750, leaving $283,250 -$25K donation, +$25K credit equals $283,250 post-tax

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being raised in single-parent

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Let’s get this right, single mother homes.

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FWIW, I had no idea Ives was incorrect.

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I guess it could be my alias.

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Cubbies, you need to stop. Run the numbers, and check out the veracity of the claims you're relying on.

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how could reporting $25,000 less income NOT result in paying fewer taxes? I really don’t understand how that could be.

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Also you might reassess your belief that there are enough self-interested "rich" folks in Louisiana that they are able to out vote middle class, working class, and the impoverished.

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the legislative branch enacted this scheme, it wasn’t on a statewide ballot.

And you may be overestimating how many common people vote at all in Louisiana.

Did you read the CPA link I posted? That was completely apolitical and simply offered a tip to save money on one’s taxes. But you believe the CPA is incorrect or giving bad advice in favor of your own calculations?

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Let’s get this right, single mother homes.

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Yep. It’s amazing that such a huge population of men can abandon their children, isn’t it?