Stealth Tax on College Savings and How to Advise Your Young Family Members

In a really sneaky attack on the prudent and self-reliant, Obama has decided to tax 529 College Savings Plans. These are tax free plans that many parents and grandparents create at birth for their family members, guaranteeing settlement of college fees.

Touting it as a tax on the rich, President Obama wants to use this money to fund community college for lower-middle class children. In reality, he is stealing from the responsible parents of regular middle class children in another example of his devotion to the socialist redistribution of wealth.

Many see this as a drive on the part of the finance industry to drill down into every level of society to force young people to sign up for educational debt. The motivational pressure is perpetuated by the message booming out of the government that “everyone now needs a college degree.”

By moving his target to the Community College level President Obama virtually guarantees every young person in the country will now incur some type of student loan debt. And with it will come an overall dumbing down of educational standards across the nation.

You can fight back on two fronts. Never invest in anything run by the government. They have a terrible track record of commandeering your funds. The other is to talk to your children and grandchildren about the alternatives to college.

How about a Trade?

Send your young people to the www.profoundlydisconnected.com website, part of T.V.’s Mike Rowe’s battle to look at workplace alternatives. Here they’ll discover that while there are a trillion dollars in student loans out there, and record high unemployment, there are also three million good jobs that no one seems to want.

The goal of Profoundly Disconnected® is to challenge the absurd belief that a four-year degree is the only path to success. As Mike Rowe says, the Skills Gap is here, and if we don’t close it, it’ll swallow us all. He exhorts young people to consider learning a trade or skill and not only make a good living but contribute to the renaissance of America.


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