texan
01-26-2015, 10:10 PM
Let's say you have 5K saved in an account for education. Today you could pull it out tax free and pay for education. Tomorrow Obama will tax it when you pull it out........Such a middle class warrior. I don't think this will affect the poor or the rich..........
Such a fraud.
Middle-class savings like blood in the water: Column
Bank robber Willie Sutton is said to have explained his career this way: "That's where the money is (http://www.fbi.gov/about-us/history/famous-cases/willie-sutton)." Whether Sutton ever really said that, it's an aphorism that, according to Bloomberg's Megan McArdle,explains (http://bv.ms/1yQ8IU8) President Obama's plans to go after middle class assets like 529 college savings plans and home appreciation.
Though millions (http://www.nytimes.com/2015/01/23/your-money/obamas-proposed-changes-to-529-college-savings-plans-would-reduce-benefits.html) of Americans have been putting money into "tax free" 529 plans (http://www.irs.gov/uac/529-Plans:-Questions-and-Answers) to save for their children's increasingly expensive (http://www.bloomberg.com/news/2013-08-26/college-costs-surge-500-in-u-s-since-1985-chart-of-the-day.html) college educations, President Obama would change the law so that withdrawals from the plans to fund college would (http://www.marketwatch.com/story/obama-wants-to-reduce-tax-breaks-for-529-plans-2015-01-20)be taxed (http://www.marketwatch.com/story/obama-wants-to-reduce-tax-breaks-for-529-plans-2015-01-20) as ordinary income.
http://www.usatoday.com/story/opinion/2015/01/25/college-cost-tax-federal-community-obama-money-middle-class-incentives-column/22314063/
Oh I got it this is where he will get the money to give community college away? From you, the middle class.
Such a fraud.
Middle-class savings like blood in the water: Column
Bank robber Willie Sutton is said to have explained his career this way: "That's where the money is (http://www.fbi.gov/about-us/history/famous-cases/willie-sutton)." Whether Sutton ever really said that, it's an aphorism that, according to Bloomberg's Megan McArdle,explains (http://bv.ms/1yQ8IU8) President Obama's plans to go after middle class assets like 529 college savings plans and home appreciation.
Though millions (http://www.nytimes.com/2015/01/23/your-money/obamas-proposed-changes-to-529-college-savings-plans-would-reduce-benefits.html) of Americans have been putting money into "tax free" 529 plans (http://www.irs.gov/uac/529-Plans:-Questions-and-Answers) to save for their children's increasingly expensive (http://www.bloomberg.com/news/2013-08-26/college-costs-surge-500-in-u-s-since-1985-chart-of-the-day.html) college educations, President Obama would change the law so that withdrawals from the plans to fund college would (http://www.marketwatch.com/story/obama-wants-to-reduce-tax-breaks-for-529-plans-2015-01-20)be taxed (http://www.marketwatch.com/story/obama-wants-to-reduce-tax-breaks-for-529-plans-2015-01-20) as ordinary income.
http://www.usatoday.com/story/opinion/2015/01/25/college-cost-tax-federal-community-obama-money-middle-class-incentives-column/22314063/
Oh I got it this is where he will get the money to give community college away? From you, the middle class.