If not...why not?

Please do so. It has no choice but to help send them rugrats to school in a decade or so


does it really matter?

for all my fans who keep my name in their mouth: http://i.imgur.com/v2xNOpS.jpg

but yeah....
folks still ride for him doe...

than a country where my 529 plan is tax-free.

It's not an either or and in fact should be a both.

A 4 yr school isn't free. Grad school isn't free. Etc. 529 is a great way to defray that cost they will incur

It's as close to a nobrainer as we have in this country and it frustrates me to no end how we (*rubs back of hand in universal sign for Blackness*) don't take advantage of the shit even when we know how, know it's value etc

In MD the money you put in is tax deductible so it's like dude...c'mon.


does it really matter?

for all my fans who keep my name in their mouth: http://i.imgur.com/v2xNOpS.jpg

Make the High Schools as good as they should be..
Make 4-year public university affordable as they should be..

there's currently no better way to invest in college education long term in the United States.
Taking away the one thing that actually works is NOT the move My Guy.

529s generate capital gains or INCOME. He sought to tax that income to subsidize other education programs. 70% of 529's are owned by families earning over 200k/year. They're tax shelters for the affluent.

seems like a smarter move would be to let people know HEY this GREAT tax free thing exists, poor & middle class...you should do it!

not...lets tax it, because we arent taxing enough


does it really matter?

for all my fans who keep my name in their mouth: http://i.imgur.com/v2xNOpS.jpg

Our tax code is a fucking mess, and it's constructed to:

save rich people money
generate revenue for banks

Simplify the code, collect more taxes from those with more money, provide more services. Simple.

You're talking out of both sides of your mouth, wanting more from the government, without taxing the wealthy accordingly.

financing all these idiot wars (...on afghanistan, ...on iran...for isreal....on drugs) etc

sir i assure you im not wealthy. nowhere near. taxing this isnt a good thing. i also dont think my retirement should be taxed when i draw that down.

& hell yes I still want ALL my child care tax credit AND ALLLL my mortgage deduction and all that.

yep!


for all my fans who keep my name in their mouth: http://i.imgur.com/v2xNOpS.jpg

WPOTGIT???

continue to trust in that bama though....

that 30% is clinging on to their lil tax deduction for dear life when in reality they'd fare better with more money put into the pool. The 1% fights tax increases of a few hundred dollars and the 1 percent of the one percent holds onto millions.

>that 30% is clinging on to their lil tax deduction for dear
>life when in reality they'd fare better with more money put
>into the pool.

youre saying, middle class parents, dont put money into the 529, just save it yourself...somewhere. or not. or what are you saying other then tax the 529?

He was going to use the taxes on the 529s to help fund other education programs, specifically the free community college initiative. The chief benefit of a 529 is that it's an investment savings account (or pre-paid plan, depending on the state), and that would still be available and beneficial to middle-income families. They would just have to pay taxes.

and we need to spend our taxes better

saying hey middle class families who wanna send a kid to school...you were smart to take advantage of this program but you know that whole tax free thing we told you when it started? yeah thats no good now. so please unass 5k of the 20k youve mananged to skimp & save up because...we need it to build more war planes

fuck that.


does it really matter?

for all my fans who keep my name in their mouth: http://i.imgur.com/v2xNOpS.jpg

Provide incentive for parents to save for college(Goal 1) by enticing them with a way to save on taxes(Goal 2)....

So...what sense does it make to eliminate the tax savings...by taxing it???? That was just a slick way of eliminating the program....

He also has a share builder account in his name with investments in everything including Apple. By the time college rolls around he'll be more than covered. He's 15 months old, plenty of time.

so that it doesn't get counted against your income for aid packages.

529s technically count towards the Expected Family Contribution (EFC) on the FAFSA, decreasing aid eligibility. If the kid is getting money from the grandparents 529, it counts as gift income, which also goes against EFC. At this point, you're probably saying "I won't tell them about the gift money", well you could also just not tell them you have a 529. Neither the school nor the Department of Ed have any way of knowing you have it.

If the dept of ED finds a way to track 529s, the money in a 529 plan counts less towards increasing the EFC than gifts do, so having the 529 in the parent's name is better if you plan on being honest. They're the same if you're lying.

thanks to Grandma.

**********
"Everyone has a plan until you punch them in the face. Then they don't have a plan anymore." (c) Mike Tyson

http://blackpeopleonlocalnews.tumblr.com/

$25 per kid

thats the mininum here


does it really matter?

for all my fans who keep my name in their mouth: http://i.imgur.com/v2xNOpS.jpg