Taxing your kid's college money to give free college to someone else...the obama way....

[2aguy]

Yes, you save, and you sacrifice and you put a little money away in a program to help pay for your kids to go to college...you work overtime, you take an extra job....and you are the bad guy....because you have saved money to send your kid to college....you must be one of the greedy rich right....so f**k you.....we are going to tax your kid's college money because you are a greedy scumbag..........right? Isn't that how the left sees it....and isn't that how obama sees it......since he is a moron with no concept of reality.....?

Obama s Plan Will Tax College Savings - Breitbart

“Under current law, 529 plans work like Roth IRAs: you put money in, and the money grows tax-free for college. Distributions are tax-free provided they are to pay for college.”

Obama’s plan would change that, and “earnings growth in a 529 plan would no longer be tax-free.” In the future, they would be subject to taxation upon withdrawal, whether or not the intent is to use the money for college. In essence, the law would revert to what it was prior to 2001.

Americans for Tax Reforms looked at other details of Obama’s plan, as well. The plan would also include a capital gains rate hike, a stealth increase in the death tax rate from 40% to nearly 60%, a bank tax, plus tax increases on retirement plans, along with a new employer mandate.

 

[Roadrunner]

Yes, you save, and you sacrifice and you put a little money away in a program to help pay for your kids to go to college...you work overtime, you take an extra job....and you are the bad guy....because you have saved money to send your kid to college....you must be one of the greedy rich right....so f**k you.....we are going to tax your kid's college money because you are a greedy scumbag..........right? Isn't that how the left sees it....and isn't that how obama sees it......since he is a moron with no concept of reality.....?

Obama s Plan Will Tax College Savings - Breitbart

“Under current law, 529 plans work like Roth IRAs: you put money in, and the money grows tax-free for college. Distributions are tax-free provided they are to pay for college.”

Obama’s plan would change that, and “earnings growth in a 529 plan would no longer be tax-free.” In the future, they would be subject to taxation upon withdrawal, whether or not the intent is to use the money for college. In essence, the law would revert to what it was prior to 2001.

Americans for Tax Reforms looked at other details of Obama’s plan, as well. The plan would also include a capital gains rate hike, a stealth increase in the death tax rate from 40% to nearly 60%, a bank tax, plus tax increases on retirement plans, along with a new employer mandate.

Middle class is reaping what it has sown.

The middle class has refused to pay attention to the people it elected, and now, is facing extinction.

They will probably elect Hillary to finish them off.

 

[jknowgood]

I hope the middle class wakes up and realize liberals are the enemy to common sense.

 

[Moonglow]

So when do you think Congress will approve it?

 

[ClosedCaption]

Yes, you save, and you sacrifice and you put a little money away in a program to help pay for your kids to go to college...you work overtime, you take an extra job....and you are the bad guy....because you have saved money to send your kid to college....you must be one of the greedy rich right....so f**k you.....we are going to tax your kid's college money because you are a greedy scumbag..........right? Isn't that how the left sees it....and isn't that how obama sees it......since he is a moron with no concept of reality.....?

WTF is wrong with Cons? Is this the only way they decide how to feel about shit? By pretending that someone hates you?

Can you make a point without strawmen?

 

[jknowgood]

Yes, you save, and you sacrifice and you put a little money away in a program to help pay for your kids to go to college...you work overtime, you take an extra job....and you are the bad guy....because you have saved money to send your kid to college....you must be one of the greedy rich right....so f**k you.....we are going to tax your kid's college money because you are a greedy scumbag..........right? Isn't that how the left sees it....and isn't that how obama sees it......since he is a moron with no concept of reality.....?

WTF is wrong with Cons? Is this the only way they decide how to feel about shit? By pretending that someone hates you?

Can you make a point without strawmen?

Why should people that save money for their child be forced to help others? I bet most had to sacrifice to save for their child's future, and liberals thinks that's not fair.

 

[ClosedCaption]

Yes, you save, and you sacrifice and you put a little money away in a program to help pay for your kids to go to college...you work overtime, you take an extra job....and you are the bad guy....because you have saved money to send your kid to college....you must be one of the greedy rich right....so f**k you.....we are going to tax your kid's college money because you are a greedy scumbag..........right? Isn't that how the left sees it....and isn't that how obama sees it......since he is a moron with no concept of reality.....?

WTF is wrong with Cons? Is this the only way they decide how to feel about shit? By pretending that someone hates you?

Can you make a point without strawmen?

Why should people that save money for their child be forced to help others? I bet most had to sacrifice to save for their child's future, and liberals thinks that's not fair.

Why taxes?

 

[jknowgood]

Yes, you save, and you sacrifice and you put a little money away in a program to help pay for your kids to go to college...you work overtime, you take an extra job....and you are the bad guy....because you have saved money to send your kid to college....you must be one of the greedy rich right....so f**k you.....we are going to tax your kid's college money because you are a greedy scumbag..........right? Isn't that how the left sees it....and isn't that how obama sees it......since he is a moron with no concept of reality.....?

WTF is wrong with Cons? Is this the only way they decide how to feel about shit? By pretending that someone hates you?

Can you make a point without strawmen?

Why should people that save money for their child be forced to help others? I bet most had to sacrifice to save for their child's future, and liberals thinks that's not fair.

Why taxes?

Nothing wrong with basic taxes to make the government preform it's basic duty, but after it's all said and done we pay over 50% of our income in taxes, and that's bullshit.

 

[SteadyMercury]

but after it's all said and done we pay over 50% of our income in taxes, and that's bullshit.

I certainly don't. I'm not sure how you do.

 

[ClosedCaption]

Yes, you save, and you sacrifice and you put a little money away in a program to help pay for your kids to go to college...you work overtime, you take an extra job....and you are the bad guy....because you have saved money to send your kid to college....you must be one of the greedy rich right....so f**k you.....we are going to tax your kid's college money because you are a greedy scumbag..........right? Isn't that how the left sees it....and isn't that how obama sees it......since he is a moron with no concept of reality.....?

WTF is wrong with Cons? Is this the only way they decide how to feel about shit? By pretending that someone hates you?

Can you make a point without strawmen?

Why should people that save money for their child be forced to help others? I bet most had to sacrifice to save for their child's future, and liberals thinks that's not fair.

Why taxes?

Nothing wrong with basic taxes to make the government preform it's basic duty, but after it's all said and done we pay over 50% of our income in taxes, and that's bullshit.

So yes redistribute but only to things and to the level you say is cool. Sorry, it doesnt work that way and never has. Sounds like you have a recipe for being eternally upset

 

[ClosedCaption]

but after it's all said and done we pay over 50% of our income in taxes, and that's bullshit.

I certainly don't. I'm not sure how you do.

He doesnt...hes just saying things

 

[jknowgood]

but after it's all said and done we pay over 50% of our income in taxes, and that's bullshit.

I certainly don't. I'm not sure how you do.

35% income tax
30¢ gallon tax on gas
State sales tax 6% on each dollar
Property tax
Car tax
I pay $7.00 a month city tax on my water bill, plus federal tax.
Pay extra taxes on my power bill
Taxes on my car insurance bill
8% tax on prepared food by dollar
That's just for starters.

 

[jknowgood]

Yes, you save, and you sacrifice and you put a little money away in a program to help pay for your kids to go to college...you work overtime, you take an extra job....and you are the bad guy....because you have saved money to send your kid to college....you must be one of the greedy rich right....so f**k you.....we are going to tax your kid's college money because you are a greedy scumbag..........right? Isn't that how the left sees it....and isn't that how obama sees it......since he is a moron with no concept of reality.....?

WTF is wrong with Cons? Is this the only way they decide how to feel about shit? By pretending that someone hates you?

Can you make a point without strawmen?

Why should people that save money for their child be forced to help others? I bet most had to sacrifice to save for their child's future, and liberals thinks that's not fair.

Why taxes?

Nothing wrong with basic taxes to make the government preform it's basic duty, but after it's all said and done we pay over 50% of our income in taxes, and that's bullshit.

So yes redistribute but only to things and to the level you say is cool. Sorry, it doesnt work that way and never has. Sounds like you have a recipe for being eternally upset

Redistribution of wealth shouldn't be done.

 

[AmericanFirst]

So when do you think Congress will approve it?

If they are smart, and we know they are smarter than Obutthurt, they won't.

 

[ClosedCaption]

WTF is wrong with Cons? Is this the only way they decide how to feel about shit? By pretending that someone hates you?

Can you make a point without strawmen?

Why should people that save money for their child be forced to help others? I bet most had to sacrifice to save for their child's future, and liberals thinks that's not fair.

Why taxes?

Nothing wrong with basic taxes to make the government preform it's basic duty, but after it's all said and done we pay over 50% of our income in taxes, and that's bullshit.

So yes redistribute but only to things and to the level you say is cool. Sorry, it doesnt work that way and never has. Sounds like you have a recipe for being eternally upset

Redistribution of wealth shouldn't be done.

Like I said...Good luck on your life of constant let downs because Taxes have been around since the Romans. Have fun objecting to it.

 

[jknowgood]

Why should people that save money for their child be forced to help others? I bet most had to sacrifice to save for their child's future, and liberals thinks that's not fair.

Why taxes?

Nothing wrong with basic taxes to make the government preform it's basic duty, but after it's all said and done we pay over 50% of our income in taxes, and that's bullshit.

So yes redistribute but only to things and to the level you say is cool. Sorry, it doesnt work that way and never has. Sounds like you have a recipe for being eternally upset

Redistribution of wealth shouldn't be done.

Like I said...Good luck on your life of constant let downs because Taxes have been around since the Romans. Have fun objecting to it.

Yes, we pay taxes, but you're ilk doesn't think we are paying enough.

 

[Penelope]

An interesting article, I know it use to be free in Calif, but never knew the history of it. As one who had student loans and worked while in college, like many here I'm sure, I think we can all agree that the prices of higher education is getting way too high. There needs to be a cap, and even though the prices are high the maj of our Prop. Tax is for the community college, I can't imagine if the community colleges were free what our taxes would be. I think there needs to be a cap on them and well lets face it, the internet has changed everything, no longer do we need gas to drive to college as much as much can be done online, except for the hands on stuff. We will no longer need brick and motar buildings to learn in, when we can do it at home, so gone are even more jobs in building these colleges. I mean its stupid for kids to go to class to listen to a recording which many at state university have here, or via Skype.


In 1847, Baruch College, now part of the City University of New York system, was founded as the Free Academy, the first free public college in the country. In 1862, the first Morrill Act established public universities through federal land grants, many states opted to charge no tuition or nominal tuition. California’s public-university system, still the largest in the nation, abolished tuition three months after it was founded in 1868, implementing instead a fee for additional services, such as health care, that at first was tiny.

The era of free tuition ended, ironically, with the student movement of the 1960s, just as campuses were getting more populous, diverse, and democratic. Ronald Reagan made the University of California a major punching bag of his 1966 campaign for governor of California, with the encouragement of FBI director J. Edgar Hoover, who saw campus peace activists as dangerous subversives.

Upon taking office, Reagan managed to have UC president Clark Kerr fired—he had been the architect of mass higher education not just in California, but across the country—and hiked fees at the UC colleges to the approximate levels of tuition charged elsewhere.

A similar story happened in New York. In the 1960s, blacks and Latinos made up less than one-fifth of all students at CUNY schools, and most were confined to a non-baccalaureate track. The same colleges that had offered the city’s Jews and other immigrant groups important opportunities for advancement in the 1930s were frustrating the dreams of a new generation.

Whatever Happened to When College Was Free - MonsterCollege

On page 2 it states education should be free and accessible to all, and well I guess I have to agree, as that is the main reason the rich get richer and poor get poorer, but free is no good in my opinion, also whon who will service the rich.

 

[ClosedCaption]

Why taxes?

Nothing wrong with basic taxes to make the government preform it's basic duty, but after it's all said and done we pay over 50% of our income in taxes, and that's bullshit.

So yes redistribute but only to things and to the level you say is cool. Sorry, it doesnt work that way and never has. Sounds like you have a recipe for being eternally upset

Redistribution of wealth shouldn't be done.

Like I said...Good luck on your life of constant let downs because Taxes have been around since the Romans. Have fun objecting to it.

Yes, we pay taxes, but you're ilk doesn't think we are paying enough.

Is this the ONLY way you are able to discuss things? My making up an argument and claiming I want it?

 

[SteadyMercury]

35% income tax

Ahh so to prove your point about how "we" pay 50% of our income in taxes the first thing you'll do is use an income tax rate that applies to people making over 405k, hey that sounds real representative of the people.

You do realize we have a tiered tax system right? Even if you do make 410k you aren't paying 35% of it in taxes, you are paying that final 5k at a 35% rate. The rest is taxed at 0%, 10%, 15%, etc.

If you make 50k and don't have kids or itemize you'd pay about 5.8k in taxes, which is under 12% of your income.
If you make 75k and don't have kids or itemize you'd pay about 12k in taxes, which is about 16% of your income.

Would you are to try again or were did you really mean to just speak only for people with salaries close to half a million dollars?

 

[SteadyMercury]

35% income tax

I just ran the numbers here for 2014: TurboTax TaxCaster Free Tax Calculator Free Tax Refund Estimator

To pay 35% income tax you'd have to have an income of about $980,000.

Is that the person you were referring to when you say "we" pay 50% of our income in taxes?