Well, Greece, Whatcha Gonna Do?
Erdogan is threatening to take, among other things, some Greek islands. See here. Will you stand for that? I’m asking you in particular, Greek leftists? Are you going to put up with that kind of talk? It may be great fun when nothing is at stake to agree with Muslims, those poor and oppressed people, that anything that was ever controlled by Muslims still belongs to Muslims, but what will you do when it’s actually land you care about?
In a world with lions, you don’t want to turn yourself into a lamb.
I Don’t Actually Remember Obama Saying This
I don’t actually remember him saying that we can’t drill our way out of high gas prices (here). What I do remember is the prediction of some “analyst” who predicted that all that the new drilling (fracking, etc.) would do would be to lower the price of gas by a quarter in ten years. People repeated this to me in all seriousness, and I thought they were crazy. “The price of gas,” I pointed out, “is so sensitive it can change daily. Why wouldn’t it change a lot, and quickly, if more supplies came on the market?” They wouldn’t believe me.
Ordinarily, if someone can claim you as a dependent, you can’t claim someone else as your dependent. However, if you want to use the student loan deduction (which is really an adjustment and not a deduction), it’s all right if you are the dependent of another taxpayer. See here, p. 136. It says that you can deduct interest on a student loan that “you took out solely to pay qualified education expenses that were ... for you, your spouse, or a person who was your dependent when you took out the loan.” And it also says that in these circumstances, “An individual can be your dependent even if you are the dependent of another taxpayer.”
I am trying to imagine the circumstances in which this would be likely. Say that I take out a loan for my college-bound daughter, but I am not likely to be a dependent of anyone else if I have a daughter in college and am allowed to take out a loan. Let’s explore the possibilities. If I am someone’s dependent, I must be a qualifying child or a qualifying relative. To be a qualifying child, I must be (1) under 19, (2) under 24 and a full-time student, or (3) disabled. If I have a college-age daughter, I do not satisfy the first two conditions, so maybe I satisfy the third. Suppose I am disabled, then, and I have this college-age daughter for whom I take out a loan. Except that I am still living with my parents, who can claim me as a dependent, and if they can do that, then I can’t be providing more than half of my own support, so how can I be in a position to take out a loan? Wouldn’t it be my parents taking out the loan for my daughter and not me?
Suppose, then, that I am a qualifying relative. Except that a qualifying relative can’t be making more than $4,000 during the year, and my parents (or whomever I was living with) have to provide at least one-half of my support. Again, it seems like they would be the ones to take out the loan and not me.
This leaves the possibility that I was not a dependent when I took out the loan, but became one later on. I became disabled and had to move back in with my parents, or I suffered financial reverses and had to move in with them or someone who could take care of me. Even then it’s rather odd because I wouldn’t have enough income to need the deduction anyway (even assuming I was able to make any payments).
I give up. I just can’t think of anyone for whom this is useful.