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529 accounts in the event liberals get their way
Posted on 5/20/19 at 8:02 am
Posted on 5/20/19 at 8:02 am
Many of the top contenders, on the left, running for president are proposing “free” college for all. Inevitably taxes would increase in this scenario but actually cutting a check to a university would no longer be required. Given there is a 10% penalty on gains not used for educational expenses, the government would surely no longer enforce that penalty?
I could easily see the liberals punishing responsible parents who do the right thing and set aside funds every month for their child’s future.
I could easily see the liberals punishing responsible parents who do the right thing and set aside funds every month for their child’s future.
This post was edited on 5/20/19 at 8:03 am
4
Posted on 5/20/19 at 8:50 am to 3morereps
I believe it was Warren that said her plan would allow 529 balances to be transferred penalty free to retirement accounts for the designated beneficiary in the event her plan passes.
But these plans have little chance of passing in the near future, so I wouldn't sweat it too much if you have one now.
But these plans have little chance of passing in the near future, so I wouldn't sweat it too much if you have one now.
Posted on 5/20/19 at 10:01 am to 3morereps
cash out and invest in tin foil gonna be some huge profits in 2020
Posted on 5/20/19 at 10:54 am to The Spleen
Free college seems like 10% of the population speaking louder than 90%. They've all validated that it's a great idea among themselves but their vote gets slaughtered when the silent majority goes to the polls.
Posted on 5/20/19 at 11:16 am to WhiskeyThrottle
Free college is an awful idea
Posted on 5/20/19 at 11:41 am to 3morereps
it won’t be college for all. It will be free for some. Other have to pay.
Posted on 5/20/19 at 12:34 pm to JOJO Hammer
Kind of like health insurance, I can see it as an extension of the progressive income tax system
Posted on 5/20/19 at 12:57 pm to TJG210
quote:
Free college is an awful idea
Agreed. But somehow a certain segment of society believes somehow its almost a constitutional right.
Their premise is built on Chinese math anyways.
It doesn't cost $30,000 a semester to go to college. There are cheaper options. . . that you can easily afford while working a job. No need to be a leech on society. If you really want that ivy league education, outsmart the other students and the school will happily give you a full ride. . . But that's too much work for those looking for a handout.
Posted on 5/20/19 at 1:22 pm to 3morereps
Just send your kids to Morehouse
Posted on 5/20/19 at 3:23 pm to TJG210
quote:
Free college is an awful idea
Agreed. I don't see it ever happening, but if it did it would turn into the whole public school v private/catholic school level of education we currently see at the high school level.
Just like in the NOLA area, those that pay for their kids to have private education will most likely benefit more from the college education; then you will see employer's begin to stack resumes based on the quality of college education. Similar to how it's done based on brick & mortar degrees v internet based degrees.
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