The President wants to pay for free community college for all by - TopicsExpress

The President wants to pay for free community college for all by taxing college savings plans. Insanity. Tax Increase on Families Saving for College 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. Under the Obama plan, earnings growth in a 529 plan would no longer be tax-free. Instead, earnings would face taxation upon withdrawal, even if the withdrawal is to pay for college. This was the law prior to 2001. Read more: atr.org/obama-calls-320-billion-new-taxes#ixzz3PJz8LmeB Follow us: @taxreformer on Twitter

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