I also liked that the Obamas made huge contributions to their daughters' 529s

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Jan 26, 2015
12:19:52pm

Big Wally D

I also liked that the Obamas made huge contributions to their daughters' 529s

a few years ago.

Goodbye middle class.

http://www.forbes.com/sites/ryanellis/2015/01/22/obamas-make-jumbo-529-contribution-while-pushing-repeal-for-everyone-else/

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Big Wally D

Bio page: Big Wally D
Joined: Feb 23, 2012
Last login: Sep 27, 2024
Total posts: 2,385 (2 FO)

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Messages

Author

Time

So if Obama gets his way and 529 plans become taxable, what's their benefit?

BYUCoug11

1/26/15 11:34am

kills the primary reason to open one

TonyStark

1/26/15 11:36am

I guess some states would still offer deductions for contributions

BYUCoug11

1/26/15 11:41am

Probably an indirect way to kill private funding for education...

bluecheese

1/26/15 11:37am

Poor people can't do it so no one should be able to do it. At least that is my

Singcat

1/26/15 11:49am

Other than funding community college, you mean?

1/26/15 11:38am

It kills 529s, which hurts decent earners and conscious savers...people who

RugbyCoug

1/26/15 11:41am

thats what we need obama, make people who aren't saving anything, save less

1/26/15 11:42am

His point is that those wealthy enough to use them are wealthy enough to pay mor

1/26/15 11:42am

stupid point

jota

1/26/15 11:45am

None, after the initial 5% state tax credit for making the contributions (Utah)

1/26/15 11:49am

Well, I feel better about not opening one then since there's no deduction in CA

BYUCoug11

1/26/15 12:01pm

Heard a discussion about this on the radio yesterday, they're even worse if you

BYUFBDAD

1/26/15 11:53am

The fact that this is even being considered makes my blood boil and I don't

supertux

1/26/15 12:00pm

Just imagine if you're one of those contributing to a traditional IRA, assuming

cougarick

1/26/15 12:50pm

You mean Roth IRA. And I am one of those.

supertux

1/26/15 1:07pm

Do you have a link to this proposal? Was it in the SOTU?

Iman23

1/26/15 11:59am

It's been in the news since just before SOTU

BYUCoug11

1/26/15 12:00pm

2 more years...only 2 more years.

1/26/15 12:05pm

I also liked that the Obamas made huge contributions to their daughters' 529s

Big Wally D

1/26/15 12:19pm

He wants everyone to have to take government aide to go to school.

zonacougar

1/26/15 12:30pm

If more people are sucking from the government

1/26/15 1:28pm

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