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It appears as though the middle class person who is responsible enough to open a 529 college savings plan will be the person who pays for Obama's "free" community college plan if he has his way.
Currently, people can withdraw money from the 529 accounts without paying taxes on the earnings. Under the Obama plan, the gains earned on those investments would be subject to tax as they are withdrawn to pay for education expenses.
That's right. If you take money that you've already paid taxes on and put it in an account to save for college for your kids, you will now be hit with additional taxes (if his plan were to be implemented) when you use that money for your child's education.
It appears as though the middle class person who is responsible enough to open a 529 college savings plan will be the person who pays for Obama's "free" community college plan if he has his way.
That's right. If you take money that you've already paid taxes on and put it in an account to save for college for your kids, you will now be hit with additional taxes (if his plan were to be implemented) when you use that money for your child's education.
President Obama loves to take from those who have planned ahead to give to those who have not.
It appears as though the middle class person who is responsible enough to open a 529 college savings plan will be the person who pays for Obama's "free" community college plan if he has his way.
That's right. If you take money that you've already paid taxes on and put it in an account to save for college for your kids, you will now be hit with additional taxes (if his plan were to be implemented) when you use that money for your child's education.
Only racist white people have 529 savings plans, they deserve to be taxed 7 times on that money.
NOTHING is "free"...someone has to pay for it...and it will be the taxpayer...those who EARN their money, not get it GIVEN to them by those who are working.
I suppose it's just a matter of time before the government taxes my Roth IRA... gotta pay my "fair share" to all those who decided not to save for retirement, after all.
I suppose it's just a matter of time before the government taxes my Roth IRA... gotta pay my "fair share" to all those who decided not to save for retirement, after all.
I truly believe that at some point the government will attempt to tax us based on both income AND worth.
So, if you have an income of $50,000 and essentially no assets, you might have a tax rate of 19%, but if you have an income of $50,000 and home equity worth $75k and a 401k worth $150k, you end up with a tax rate of 28%. The politicians would say that it allows people with less to "catch up" or some other BS.
At some point a lot of us might say, "Those Glen Beck listeners who have hoarded gold 'off the record' weren't as silly as we thought." BTW, the only gold I own is on my finger and possibly in an old filling.
Democrats are criminals who steal other people's money.
And tax cheats.
It's time to start reporting people who get paid under the table to avoid paying taxes or getting kicked off welfare.
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