This blog contains posts and comments written by students in Dr. Tufte's economics classes at Southern Utah University.
3/22/2006
Possible Tax-Write-offs!
As I read the economics roundtable blog, I came across an interesting link within it commenting on the prospect of people getting a tax write-off for their mbas. If this were to become a legal, widespread practice, the results could be great! I am completely in favor of such a practice, and think it would be a great incentive for people to further their education. Regardless of whether or not someone pursues an mba for a better job, a more educated society, is a better society!!! More knowledge=more power.
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3 comments:
-1 on Jake's comment for spelling errors.
Hmmm ... if we allow corporations to deduct investments in capital we should also allow people to deduct investments in education. It seems reasonable to me that we should either permit or deny both. I'd rather the latter, but the former is OK too.
I am not in agreement with Blake that more education is always better. For an individual there is a prisoner's dilemma that makes education a good choice, but I'm not sure that society is better off if everyone gets more education.
Bryce has hit on this point. To extend it a little, once you graduate you should probably oppose deductibility of an MBA - you can no longer benefit, and you may be hurt by new entrants.
So an MBA is apparently a write-off, but is there a maximum income? I heard that if you make more than $75K p/yr, you can't write-off the cost of your MBA. And what about the expenses associated with your MBA, such as gas, supplies, etc?
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