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Leaked Taxes, Comments Disrupt Trump, Clinton Campaigns

By U.S. News & World Report

There’s always something new and bizarre in this year’s presidential campaign, and the race has now descended into a nasty free-for-all, triggered by the disclosure of Republican nominee Donald Trump‘s partial income tax returns.

The New York Times published a blockbuster story Sunday revealing that Trump took a $916 million loss on those income tax returns in 1995, which could have allowed him to legally avoid paying any federal income taxes for 18 years. Critics say this shows he isn’t as successful a businessman as he has claimed, and that he thinks only of himself and his financial status rather than supporting worthwhile government programs by paying taxes as a civic duty. His critics also say the disclosure shows that Trump benefits from the same “rigged” system that he has criticized Democratic nominee Hillary Clinton for exploiting.

Trump’s campaign spokesmen didn’t deny the Times story but said Trump had a responsibility to his corporate empire to pay no more taxes than required by law. Trump tweeted, “I know our complex tax laws better than anyone who has ever run for president and am the only one who can fix them.”

Trump is still refusing to release his income tax returns, insisting that he won’t do so while he is under federal audit. This breaks with recent tradition because major-party presidential nominees have released their tax returns for many years. Clinton has already done so.

A Trump campaign spokesman also said it was illegal for the Times to publish such tax information, which Times officials said was sent to one of the newspaper’s reporters anonymously.

The Trump tax story is the biggest campaign development in recent days and it’s likely to be a major topic at the next presidential debate between Trump and Clinton scheduled for Oct. 9. An important question is how badly Trump is being hurt politically. Sen. Bernie Sanders of Vermont, who lost the Democratic nomination to Clinton but is now supporting her, said, “This exactly why so many millions of Americans are frustrated. They’re angry; they’re disgusted at what they see as a corrupt political system in this country.”

Sanders, who retains a strong following among young people who are a prized cohort in the election, accused Trump of hypocrisy. “You’ve got some middle-class people working longer hours for lower wages — they pay their taxes, they support their schools, they support their infrastructure, they support the military,” Sanders told CNN.

“But the billionaires? No, they don’t have to do that, because they have their friends on Capitol Hill. They pay zero in taxes. … So Trump goes around and says, ‘Hey, I’m worth billions, I’m a successful businessman but I don’t pay any taxes. But you, you make $15 an hour? You pay the taxes. not me.’ That is why people are angry and want real change in this country.”

The tax issue has crowded out other concerns, for now. But Trump is still dealing with the fallout from his public quarrel with former Miss Universe Alicia Machado. She says he insulted her, calling her “Miss Piggy” and other names when he owned the Miss Universe pageant 20 years ago and felt she had gained too much weight as Miss Universe. Trump escalated his criticism against Machado last week, prompting a renewal of charges that he is sexist and can’t control his temper.

For her part, Clinton also is doing damage control. This focuses on her remarks in February at a private fundraiser (the audio of which leaked to the media) portraying young people who supported Sanders, then her rival for the Democratic nomination, as frustrated and unsettled. She said they were open to Sanders’ strong anti-Washington appeal because they felt left behind, weren’t doing well economically and sometimes had to live “in their parents’ basement.” Trump supporters say this showed disdain for young people, but Clinton backers say she was trying to show empathy.

[DECISION 2016: U.S. News Covers the Race to the White House]

Sanders was supportive of Clinton. Asked if her analysis “bothered” him, Sanders said, “Of course it does.” But he went on to agree with Clinton’s larger points. “If you listen to the whole discussion that she had, a very important point that she made is that a lot of young people who went into debt, worked very hard to get a good education, can’t find a job commensurate to the education that they received,” Sanders said. “….They are living in their parents’ basement and that’s the point.”

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Donald Trump Debate Question: Does He Pay Any Federal Income Tax at All?

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Leaked Taxes, Comments Disrupt Trump, Clinton Campaigns originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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