forums

NIL - "Let's be honest, we are all money laundering."

TheOriginalCane said:
That last paragraph is key. Tuition goes up every year, student loans are getting bigger, but hey, we are making your football-playing classmates millionaires!

It's going to be hard to keep driving down this same pathway for much longer.

AND FOR THE RECORD, I have no problems with the athletes being compensated, I'm just referring to the pay gap and the optics of it all.
Click to expand...
Yeah but this system will continue until parents and students stop failing for the okie-doke that is the business of colleges in America. Colleges have done a wonderful job of marketing themselves as the end-all be-all to success in America. They aren’t selling education, like they pretend they are. They are selling diplomas; ‘put our diploma on your resume and you will make lots of money’.
But as long as the consumer keeps buying the product it won’t matter And tuitions will continue to rise.

As for student loans, I would argue they should be directly tied to what the student is studying. I’m not giving a dime in loans to liberal arts majors because it’s a bad risk as the lender. I will gladly give loans to engineers and even kids going to trade schools because it’s a good risk. But for the art history and poli Sci (me) majors, sorry but pay your own way and go to a state university since you will be applying to grad school anyways.
 
Advertisement
AtlAtty said:
Yeah but this system will continue until parents and students stop failing for the okie-doke that is the business of colleges in America. Colleges have done a wonderful job of marketing themselves as the end-all be-all to success in America. They aren’t selling education, like they pretend they are. They are selling diplomas; ‘put our diploma on your resume and you will make lots of money’.
But as long as the consumer keeps buying the product it won’t matter And tuitions will continue to rise.

As for student loans, I would argue they should be directly tied to what the student is studying. I’m not giving a dime in loans to liberal arts majors because it’s a bad risk as the lender. I will gladly give loans to engineers and even kids going to trade schools because it’s a good risk. But for the art history and poli Sci (me) majors, sorry but pay your own way and go to a state university since you will be applying to grad school anyways.
Click to expand...

So True. In my senior year in high school, they had removed all, if not most trade programs from school. Funny thing, I know many plumbers, electricians, and HVAC guys that make clear over 100k. It is not a glamorous job, but it's a **** good living. Those guys are the backbone of America. I can do many of my house fixes myself, but god knows I'm not messing with that electricity.

Soon as I have an electrical problem, I am on the phone, " Mr.Electrician, when is the earliest you make it out? Sounds good! See you soon."
 
Dees Brown said:
So True. In my senior year in high school, they had removed all, if not most trade programs from school. Funny thing, I know many plumbers, electricians, and HVAC guys that make clear over 100k. It is not a glamorous job, but it's a **** good living. Those guys are the backbone of America. I can do many of my house fixes myself, but god knows I'm not messing with that electricity.

Soon as I have an electrical problem, I am on the phone, " Mr.Electrician, when is the earliest you make it out? Sounds good! See you soon."
Click to expand...
Welcome to self-employment in Germany.

I'm telling every young buck that I know "If you learn a job that revolves around house work, get your master (in German "meister", its the highest degree and allows you to hire young people and all that extra stuff), make your own company and make an ad in the local newspaper.

These kids will make bank in no time.
 
Advertisement
AtlAtty said:
Yeah but this system will continue until parents and students stop failing for the okie-doke that is the business of colleges in America. Colleges have done a wonderful job of marketing themselves as the end-all be-all to success in America. They aren’t selling education, like they pretend they are. They are selling diplomas; ‘put our diploma on your resume and you will make lots of money’.
But as long as the consumer keeps buying the product it won’t matter And tuitions will continue to rise.

As for student loans, I would argue they should be directly tied to what the student is studying. I’m not giving a dime in loans to liberal arts majors because it’s a bad risk as the lender. I will gladly give loans to engineers and even kids going to trade schools because it’s a good risk. But for the art history and poli Sci (me) majors, sorry but pay your own way and go to a state university since you will be applying to grad school anyways.
Click to expand...
Screenshot_20230531_070104_DuckDuckGo.jpg
 
Dees Brown said:
So True. In my senior year in high school, they had removed all, if not most trade programs from school. Funny thing, I know many plumbers, electricians, and HVAC guys that make clear over 100k. It is not a glamorous job, but it's a **** good living. Those guys are the backbone of America. I can do many of my house fixes myself, but god knows I'm not messing with that electricity.

Soon as I have an electrical problem, I am on the phone, " Mr.Electrician, when is the earliest you make it out? Sounds good! See you soon."
Click to expand...
I know several people with post graduate education that dont make near the top range👇👇

 
Empirical Cane said:
I know several people with post graduate education that dont make near the top range👇👇

Click to expand...

I have a cousin who I believe my aunt dropped as a baby. Because he makes some of stupidest decisions. He got his CDLs, but I guess you have to drive with someone for a year or two. I talked him 6 months later. He don't want to drive anymore just because

I was at a family function and we have a family friend that's a plumber and has his own business. My aunt is talking to him, telling all my cousin business. He tells my aunt he will take him under as apprentice, he says "Man I ain't trying be a plumber".

One of my uncles, who was a air traffic controller, looks at us, was like " Yea, this one ain't playing with a full deck". Lol.
 
Last edited:
There is no “right” way to do this. If the NCAA actually did their job and created a salary cap, teams would just do it under the table like they have been for decades. Now that they didn’t, the states are deciding on their own to give their schools a legal competitive advantage. And the under the table stuff is still happening.

Until the IRS starts busting down every kid’s door and asking where they got $10k cash and the car they took a IG picture with, the game is never gonna be equal for everybody.
 
Advertisement
Dees Brown said:
I have a cousin who I believe my aunt dropped as a baby. Because he makes some of stupidest decisions. He got CDLs, but I guess you have to drive with someone for a year or two. I talked him 6 months later. He don't want to drive anymore because

I was at a family function and we have a family friend that's a plumber and has his own business. My aunt is ootalking to him, telling all my cousin business. He tells my aunt he will take him under as apprentice, he says "Man I ain't trying be a plumber".

One of my uncles, who was a air traffic controller, looks at us, was like " Yea, this one ain't playing with full deck". Lol.
Click to expand...
There’s 1, or 12, in every family.
 
Seems like a snoozer. I doubt anything comes of it...
NC_Canes_11 said:
There is no “right” way to do this. If the NCAA actually did their job and created a salary cap, teams would just do it under the table like they have been for decades. Now that they didn’t, the states are deciding on their own to give their schools a legal competitive advantage. And the under the table stuff is still happening.

Until the IRS starts busting down every kid’s door and asking where they got $10k cash and the car they took a IG picture with, the game is never gonna be equal for everybody.
Click to expand...

Didn't 46 just hire like 850 IRS agents? I can't see why these young men would be exempt from paying taxes. And if they currently are, I hope they get nailed in a few years.
 
Dees Brown said:
I have a cousin who I believe my aunt dropped as a baby. Because he makes some of stupidest decisions. He got his CDLs, but I guess you have to drive with someone for a year or two. I talked him 6 months later. He don't want to drive anymore just because

I was at a family function and we have a family friend that's a plumber and has his own business. My aunt is talking to him, telling all my cousin business. He tells my aunt he will take him under as apprentice, he says "Man I ain't trying be a plumber".

One of my uncles, who was a air traffic controller, looks at us, was like " Yea, this one ain't playing with full deck". Lol.
Click to expand...
Tragic inability to not see opportunity.

I guess go be an "influencer" right??
 
Advertisement
BostonCanes47 said:
Yeah it’s semantics at the end of the day. Seems more like misappropriating funds.

Are these collective 501(c)s? When I was working in public and doing 990s I remember it being strict on what contributions/donations could be used for. It was many years ago so it could have just been the non profits I dealt with.

I just wonder if the IRS could and would go after these collectives if they’re posing as non profits. I’m a bit rusty on them and the rules.
Click to expand...
Could, but can't. A certain faction of Congress voted down and increase in the IRS budget for more agents to recover unpaid taxes and investigate suspicious returns. The increase in the budget would have recovered billions in unpaid taxes. There simply isn't enough manpower. So, certainly, there's no money or manpower to investigate NIL shenanigans.
 
You ever heard the term, "You have to learn to crawl before you can walk?”, well I feel like everything being done in college football the last couple of years is the antithesis to this. Everywhere you look from coaching staffs, to radio shows, to Universities, it seems like everyone has questions but nobody has the answers. I know this is going to be an unpopular opinion, but one of the things I always loved about college football is it was one of the purest forms of sport we had left, uncorrupted by money. It was about school pride, tradition, rivalries, passion, etc. While I agree that some sort of collective bargaining will eventually have to take place and these NIL deals need to be addressed or they will spiral out of control, this will eventually lead to a union. Can you imagine a scenario where college football players go on strike? I can. We’ve already seen bowl games become unwatchable due to players opting out. What happens when NIL deals get so big that 1st round draft picks decide to skip the NFL and come back another year because they would make more? Does the NFL then get frustrated and step in? Say what you will, but this great sport I once loved has been tainted because they jumped too far, too soon.
 
Advertisement
DoctorKrazey said:
I know this is going to be an unpopular opinion, but one of the things I always loved about college football is it was one of the purest forms of sport we had left, uncorrupted by money.
Click to expand...
College Football has been corrupted by money for at least 20-30 years now. It just went under the table and not into the "public" eye, although a lot of people knew.

The only thing that changed is that money that went under the table is now open for everyone.
 
AtlAtty said:
Yeah but this system will continue until parents and students stop failing for the okie-doke that is the business of colleges in America. Colleges have done a wonderful job of marketing themselves as the end-all be-all to success in America. They aren’t selling education, like they pretend they are. They are selling diplomas; ‘put our diploma on your resume and you will make lots of money’.
But as long as the consumer keeps buying the product it won’t matter And tuitions will continue to rise.

As for student loans, I would argue they should be directly tied to what the student is studying. I’m not giving a dime in loans to liberal arts majors because it’s a bad risk as the lender. I will gladly give loans to engineers and even kids going to trade schools because it’s a good risk. But for the art history and poli Sci (me) majors, sorry but pay your own way and go to a state university since you will be applying to grad school anyways.
Click to expand...
Hmm, I agree with you to a certain extent, but I think it’s unfair to lump every situation into the same category. I think the biggest mistake young people make is that, due to lack of guidance or understanding, they just get meaningless degrees. If you’re going to spend years of your life and be in debt up to your eyeballs for a degree in "Business Administration" well, then, you’re a fool. I also feel there’s this false narrative that you have to go to college to make a meaningful salary. I went to school to become an X-Ray Tech, hated it, ended up becoming a mailman and now I’m making way more money than I ever would have with that job. My daughter is in school right now to become a dental hygienist and I’m behind it because I still believe that a degree such as that does hold some value. Like I said though, every situation is different.
 
Number1CanesFan said:
Could, but can't. A certain faction of Congress voted down and increase in the IRS budget for more agents to recover unpaid taxes and investigate suspicious returns. The increase in the budget would have recovered billions in unpaid taxes. There simply isn't enough manpower. So, certainly, there's no money or manpower to investigate NIL shenanigans.
Click to expand...
That’s what the house republicans proposed, but McCarthy came to a compromise with Joe to “repurpose $10 billion of the IRS Inflation Reduction Act funding in the fiscal year 2024 appropriations process and $10 billion in fiscal year 2025 to be used to provide additional funding to other federal agencies and non-defense priorities. As you know, the $80 billion given to the IRS was made available over the course of a decade”

“The IRS can still access it balance of approximately $60 billion as soon as it wants to”
 
Advertisement
Back
Top