Saturday, January 24, 2015

White House Tells 529 Savers To Just Go To Community College

Never trust a special government tax free account. If the pile of funds gets big enough, they will tax it. And, they will also use the accounts to social engineer the entire damn country in some direction.

That is exactly what Obama proposed in his State of the Union speech with regard to special student savings accounts. He wants to tax them and at the same time direct students to community colleges.

Conn Carroll notes:
White House Press Secretary Josh Earnest said Friday that middle-class families concerned about President Obama's plan to raise taxes on their college savings should just send their children to community college. 
Obama's plan raises taxes on families saving for college by eliminating the tax-free status of money withdrawn from a 529 savings accounts. "I was very surprised by the Obama 529 proposal because in many ways it is anti-middle class for families trying to afford college," founder Joe Hurley told The New York Times


  1. one wonders if 401K and IRA accounts are next ...