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Obama Targets 529 Plan

Discussion in 'Economy' started by ethics, Jan 21, 2015.

  1. ethics

    ethics Pomp-Dumpster Staff Member

    This is a plan that people can put in to, tax free, for their kid's college. It can only be taken out once your kid, who is stapled in the 529 from the beginning, when they start going to college and that's all that the money can be used for.

    I opened one up when my 2nd kid was born and fluctuated as far as how much I put in to it.

    Annnnd here comes Obama with his grand scheme to tax the returns (if you put in 10K, 529 plan made you 2K in whatever the time that market did well) you would get taxed on 2K when it was time for your kid to go to college.

    I ask you, for Liberals who are so gung ho about educating our kids, not to have the burden of loans when they graduate, how does this make sense?

    Ah... We have some answers, but before you read about it, here's a Slate piece of cheering this on, see the comments to get what this is all about.

    Obama wants to tax 529 savings: It's a great idea

    Here's a better piece, of course:

  2. Biker

    Biker Administrator Staff Member

    They. don't. care. As long as it brings in more tax dollars, they could care less who gets shafted in the process.
  3. ethics

    ethics Pomp-Dumpster Staff Member

    You could not be more wrong. They absolutely care. Little Bolsheviks cared about people who were better off than they were, so do these fuckers.
  4. Biker

    Biker Administrator Staff Member

    Got me there.
    ethics likes this.
  5. Sierra Mike

    Sierra Mike The Dude Abides Staff Member

    Of course, because only the well-off--or those who weren't running around leasing a new Benz 550 or BMW Alpina every two or three years--can afford to sock the money away through judicious planning and an over-the-horizon outlook. Liberals hate that, but haterz gonna hate.
  6. Allene

    Allene Registered User

    This just makes me sick! Somebody is hellbent on dividing our society until it stops functioning altogether. With the fostering of race baiting on one hand and envy of those who have more money than we have on the other hand, we are off to a good start.
    ethics likes this.
  7. dsl987

    dsl987 Member

    Yup - it's OK to raid 529's because only rich folk have those. Just wait till they get around to 401K's.
  8. Biker

    Biker Administrator Staff Member

  9. Allene

    Allene Registered User

    Excellent article.

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