chuckled when I read this. The dupes hear "free" and jump to stand in line not realizing that they actually will be paying for it.
community college will be "free"......not
community college will be "free"......not
Obama's tax increase on middle class..just 1 of more to come
- Thread starter raleighherdfan
- Start date
How do you attack 529 plans when you constantly complain about student debt being a problem? This guy has no clue.
I could write a speech on the man's contradictory state of the union speech claims but after 6 years of witnessing such poor leadership and intentional class warfare only the dumbest of Obama voter would still deny what would be explained and simply resort to complaining about the length of such a rebuttal.
Dow's doing great. 10 year is still below 2% though & finished down at last check. Wish the tax rate on middle Americans would be lower so they could contribute more of their income toward investments. Last report I read said more businesses are closing than opening. Middle class is shrinking. The number of Americans who have completely given up looking for a job is sky high, which is contributing to an artificially low unemployment number (given how it's being calculated isn't even close to the real unemployment number & everybody knows it), and the unemployment rate for minorities is catastrophically high. Given the push to welcome illegal immigrants, the middle class is only going to get hurt worse. Mortgage rates are still low, although the government's INSANE ever-changing requirements which allows them to force lenders to buy back loans makes lending money far harder than it has to be (the lender has to be tough to protect themselves from a government that is considered to be schizophrenic in this area.) I can name two small lenders just in Charleston off hand that are completely getting out of the business.
What does that have to do with taking away the advantage of a 529 account?
There's now not really a reason to save into one of these anymore is there? That's a pretty disappointing and counterintuitive thing to take away.
I'm still curious how this "free" community college proposal will shake out. Some think taxing 529's & directing money toward community colleges will actually hurt big schools & I agree.
I'm all for expanding educational opportunities but unless sweeping changes are made to community colleges - the structure, the classes, curriculum, etc... I think we're just throwing money down a hole. Four year colleges are cranking out kids who are drowning in debt (especially teachers) but can't get a good job. Community colleges have staggeringly high dropout rate & if a person can finish, it's usually around six years. If a kid graduating from a 4 year school is having trouble getting a job, because of the negative connotation community college educations have, they have it worse.
I'm also of the opinion that govy subsidizing education is a huge contributor to the fact that the cost of a college education being so high. I was lucky enough to not need financial aid but because of govy assistance driving the cost up, it costs everybody more. I get the feeling it's another case of the government thinking it's doing the right thing but actually hurting those who don't rely on government to get by.
I get Obama is a liar, all politicians are (no family making under $250k will see there taxes increase) but taxing 529s is ridiculous.
This post was edited on 1/22 8:50 AM by wisemaniac
I'm all for expanding educational opportunities but unless sweeping changes are made to community colleges - the structure, the classes, curriculum, etc... I think we're just throwing money down a hole. Four year colleges are cranking out kids who are drowning in debt (especially teachers) but can't get a good job. Community colleges have staggeringly high dropout rate & if a person can finish, it's usually around six years. If a kid graduating from a 4 year school is having trouble getting a job, because of the negative connotation community college educations have, they have it worse.
I'm also of the opinion that govy subsidizing education is a huge contributor to the fact that the cost of a college education being so high. I was lucky enough to not need financial aid but because of govy assistance driving the cost up, it costs everybody more. I get the feeling it's another case of the government thinking it's doing the right thing but actually hurting those who don't rely on government to get by.
I get Obama is a liar, all politicians are (no family making under $250k will see there taxes increase) but taxing 529s is ridiculous.
This post was edited on 1/22 8:50 AM by wisemaniac
How many more people are on welfare now? How many people area underemployed or have left the workforce? How is the middle class doing now? How are healthcare cost? Go in a office and ask about their premiums and see what happens? How is the cost of college now?
Oh, and not even to mention that global terrorists are stronger now than ever.
The Fake Boob will be out of there shortly. The Token.
More people on food stamps now than ever, 90+ million working age people out of work (and increasing), Debt Trillions more now than just 6 years ago, a current president that brags about the best economy since the 90's and stock market performance one minute and then complains the rich are the only ones benefitting and needing to pay more ("income disparity"...."wealthy only benefitting"......"middle class are desperate") the next.
Also interesting. The methods for calculating unemployment rate and GDP have both been altered in the last 3-4 years. The actual unemployment number still remains in the double digits. GDP would be flat to negative if the old way were still calculated the same as under the last Repub President. Keep believing the new headline numbers and talking points though. All is well....plus your healthcare is "free".
Rifle, these are GREAT questions actually. I have argued that there is not much difference in economic policies of the two. Bush was a big spender, Obama is even worse. What we have witnessed, on a macro level is a complete business cycle. However, when you dig into the numbers, even though the standard metrics looks better, they really are not.
1. Unemployment rate - although improved; it does not count the actual people that dropped out all together and no longer count. When adjusted, the labor participation rate is among all time lows. This is bad. Furthermore, the number of people receiving assistance, is at an all time high.
2. Economy - the economy has recently shown signs of improvement due to .....LOWER Gas Prices. This has happened IN SPITE of the President and his wishes. No Keystone Pipeline, increasing regulations and costs on fracking; a complete attempt to stop it by his left wing base, etc. However, we have lower prices today because of it, period. This has NOTHING to do with our President, but everything to do with the spirit of the private sector to take risks.
Lower gas prices also puts more disposable income in workers pockets. This creates more spending, more jobs, etc....I think some refer to it as Trickle Down Economics, or VooDoo economics. However, this is WHY we have seen recent economic improvements.
Now, even with this, we have an enormous amount of debt we have racked up under this President. He started with roughly 10-11 Trillion; we are now at 18-19 Trillion. We have nearly doubled our previous 200 years of debt, in just 6. This is the most troubling of all statistics to me. We blamed this on Bush's Wars in the past. However, this has been the most irresponsible era in our history, often unaccounted for. Which is even further proof that our recovery is private based, not Presidential Policy based.
3. DOW - many on Wall ST and in the private sector have enjoyed large gains in the last 6 years. This is due 2 fold. First, the corrections of 2008, much like the oil prices today, were way oversold. Therefore, an increase was due once things began to stabilize. But this is not the biggest reason for the Dow's increase. That has to due with the economic policy of the FED, QE, quantitative easing. When you look at the economy in general, you do not see major increases in productivity, spending, earnings, and growth that match the growth percentage of the DOW over the last 6 years. This has been done, as many financial experts point out, through QE. Many of these same think when QE finally ends, and it has to at some point, then the DOW will correct itself to values reflective of the economy.
What is most ironic about this policy, is that it is so contradicting to the liberal belief. This policy has itself created the largest wealth gap in American History. Stocks have soared as wages/earnings has flattened and decreased.
Rifle, I think we are getting sold a product that does not have sustainability, and is not true to actual conditions. The "Metrics" may be good, but the fundamentals and actual conditions are far from it.
Texas, if you think POTUS can actually change tax law by executive order, I'll bet you $100 that this particular change is not done so that way.
You can go ahead and post-date my check to 2017 if you wish.
Posted from Rivals Mobile
You can go ahead and post-date my check to 2017 if you wish.
Posted from Rivals Mobile
Taxing 529's would be pulling the rug on people like never before
People saved pre-tax dollars for their kids educations under the promise they could take it out tax free to help pay for that education later. If someone had saved the average of 21k for their kids education and all of the sudden the government just decides that whole tax free part was just a big joke, how is that not a massive breach of trust, if not contract?
People saved pre-tax dollars for their kids educations under the promise they could take it out tax free to help pay for that education later. If someone had saved the average of 21k for their kids education and all of the sudden the government just decides that whole tax free part was just a big joke, how is that not a massive breach of trust, if not contract?
Re: Taxing 529's would be pulling the rug on people like never before
However, the plan to tax 529 Plans is total bullsh!t.
Clearly the economists within the Obama administration discovered that Americans making greater than $100K per year are the predominant users of 529 plans. It's a backdoor tax on those people.
Tax the people who are actually trying to save for their kids education in order to pay for those that didn't bother.
Not saying that "free" CC is a bad idea. Hell, someone needs to address all college costs.......But taxing those that are honestly trying to further their kids education without burdening them with debt is ridiculous!
This post was edited on 1/22 1:33 PM by CockyHerd
I've pretty much been an Obama apologist.....Hell I'm mostly a Presidential apologist. It's a tough job and they get way too much of the blame.
However, the plan to tax 529 Plans is total bullsh!t.
Clearly the economists within the Obama administration discovered that Americans making greater than $100K per year are the predominant users of 529 plans. It's a backdoor tax on those people.
Tax the people who are actually trying to save for their kids education in order to pay for those that didn't bother.
Not saying that "free" CC is a bad idea. Hell, someone needs to address all college costs.......But taxing those that are honestly trying to further their kids education without burdening them with debt is ridiculous!
This post was edited on 1/22 1:33 PM by CockyHerd
I wouldn't mind "free" CC if it were to be limited and in conjunction with local businesses to train workers they need. But we know thats not how this stuff works.
Posted from Rivals Mobile
Posted from Rivals Mobile
Re: Taxing 529's would be pulling the rug on people like never before
If this goes into effect (which I think it won't) would it affect dollars already put in or only new money?
Re: Taxing 529's would be pulling the rug on people like never before
It is damn near an act of war.
Obama is only hurting Dems with each silly statement he makes. At this point, he's toxic, and he just needs to hush for the Dems' sake. I see dozens of Republicans in West Virginia which were elected because of Obama's follies alone.
The 529 plan comments will be the final straw for millions of middle-upper class American Dems. He's done.
The 529 plan comments will be the final straw for millions of middle-upper class American Dems. He's done.
