Making College Free – Not So Fast

Making College Free – Not So Fast

Mainstream America continues to sit back and watch in awe as the President travels the country touting his free Community College plan. Taxpayers are most often astute enough to know that all government programs come with a gigantic price tag. The President’s plan to provide free education to the masses is no exception. It should take less than a nanosecond to recognize who will be the benefactors – the American taxpayers. According to Americans For Tax Reform (ATR), “Under current law, earnings growth in 529 plans is tax-free if account distributions are used to pay for college tuition and fees. The Obama plan will tax earnings in these accounts even if they are used to pay for college tuition and fees.” Most of the fees the President is proposing will impose taxes on a program that mainly benefits middle class families. ATR points out the hypocrisy in the President’s plan by noting, “This middle class income tax increase is a clear violation of President Obama’s ‘firm pledge’ against ‘any form of tax increase’ on any family making less than $250,000.”

Americans should not be surprised that the President has once again reneged on his promise to avoid taxation of those at the lower end of the salary scale. Even though not surprised, taxpayers still reel with disappointment and pain as the government continues to target them as a major source for increasing its revenue.

 

Click here to read the full ATR article. 

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