I'm in the same boat. Each month we have faithfully put money in the 529s we have for our kids, even at times when money was tight we cut back on other things to keep making that contribution. We started right away when the kids were born and now one is 14 and the other is 12. It's amazing how much it adds up over time. Now the fuckhead in chief wants to tax it because he thinks I'm rich and it isn't fair.CID1990 wrote:I have two 529s for my daughters. By the time they get to college it is just going to be another runaway government dependency program with high costs created by public money and special interest rules that come with it.Ibanez wrote:
Yeah, let's tax the college savings of those that are saving up and use that money to give "free" college to other people.
But I digress- my 529s aren't huge, and the grandparents drop a little into them from time to time. The thing is- the money I put into them is already taxed. Now it is going to be taxed twice when I use it for the girls' tuition.
I'm sorry, but the Rockerfellers and the Kennedys arent using 529s to put their kids through college. Its guys like me in the less than 100k per year brackets. This is a 100% middle class tax and it flies right in the face of making college more affordable.
I wonder how long before he proposes that the govt tax Roth IRA gains too.
















