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Obama's New State Of The Union Tax Hike On Middle Class 529 College Savers
Forbes ^ | 01/19/2015 | Ryan Ellis

Posted on 01/20/2015 12:00:23 PM PST by Rusty0604

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To: Fido969

“The whole 529 plan was much ado about nothing anyway. What a farce.”

Worked GREAT for us...
Got the daughter through Purdue’s most expensive program at a huge discount. She had no debt at graduation, and it didn’t bankrupt us.


21 posted on 01/20/2015 12:50:02 PM PST by tcrlaf (They told me it could never happen in America. And then it did....)
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To: Rusty0604

Several Obama budgets were voted down 99-0 and 97-3 in the senate when the dems controlled the upper chamber. I’m willing to bet this year he’ll get a lot more democrat support and they’ll point the blame at republicans.


22 posted on 01/20/2015 12:58:54 PM PST by outofsalt ( If history teaches us anything it's that history rarely teaches us anything.)
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To: tcrlaf
It is working for me too. I have a 12 yr old daughter and we have about $49K in it for her college. Our plan is to hopefully, get it to about $75K. One thing for sure, she will not be getting a degree in Woman studies or any other of those throw away degrees. If she wants a degree in Woman Studies she can pay for it herself and we will save the 529 for our grandchildren...

I don't see how they can tax this because the money I put in our 529 plan was after taxes. Although the growth is suppose to be tax free. Luckily, with the Republicans in charge Obama’s tax plan is DOA!

23 posted on 01/20/2015 1:01:07 PM PST by martinidon
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To: tcrlaf

I’m glad it worked for you. Some people need to understand that we are individuals and have individual financial circumstances. We need to try to keep the choices we have to make our own financial decisions.


24 posted on 01/20/2015 1:02:26 PM PST by Rusty0604
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To: Rusty0604
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25 posted on 01/20/2015 1:04:33 PM PST by MtnMan101
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To: Rusty0604
That is the argument the liberals make. They claim that common people are too stupid to save and invest for themselves, so the gov’t should take their money and take care of it for them.

For many of the liberals I know, that's actually true.

26 posted on 01/20/2015 2:29:14 PM PST by Pearls Before Swine
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To: Pearls Before Swine

If a person knows that they will suffer the consequence of their decisions they might make better decisions. If the gov’t doesn’t come to their rescue, then they will make better decisions.


27 posted on 01/20/2015 2:37:39 PM PST by Rusty0604
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To: Rusty0604

I’m big on personal responsibility, myself. But my uber-lib sponge in-laws are not. And they are very uber... indeed.


28 posted on 01/20/2015 2:40:41 PM PST by Pearls Before Swine
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To: Rusty0604

And that, my friend, is the argument for the free market.


29 posted on 01/20/2015 2:58:01 PM PST by Rusty0604
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To: Regulator

It’s not enough, I’m afraid FRiend.

Congress doesn’t give a crack about America. They only care about their bank accounts and fancy houses on the hill looking down like malevolent overseers determining our fate with cold loathing and greed.

I’ve said it before. A corrupted government cannot fix a corrupted government. The fix is in. It has been for a long time. This is pure simple fact. United we stand. Divided we fall. I believe there is some prophetic meaning in those words. It’s time to start doing more than e-mailing congress. It’s time for civil disobedience.

Just wait till Obama declares community colleges free. I and a few million other Americans will be paying taxes to the government to pay for “free” community college, while paying back our loans, while the value of our educations become worthless. Haha. There is some irony in this, as once the SHTF there’s not a single place in the world that the elites will be safe.


30 posted on 01/20/2015 9:37:35 PM PST by FreedomStar3028 (Somebody has to step forward and do what is right because it is right, otherwise no one will follow.)
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