White House drops plan to tax college funding 529 plans‼️

I guess even the middle-class occasionally realizes that higher taxes can’t only be on the wealthy and so there was an outcry over the proposal to tax 529 plans.

The great middle-class is where the tax money is and you shouldn’t forget that. Watch what they propose regarding the taxation of employer-paid health benefits; the single largest revenue loser for government.

House Speaker John Boehner had called on Mr. Obama to with­draw the pro-posal, and the Ways and Means Com­mit­tee was al­ready rolling out leg­is­la­tion to force De­moc­rats to go on record for the 529 tax in­crease. “Given it has be­come such a dis­trac­tion, we’re not go­ing to ask Con­gress to pass the 529 pro­vi­sion,” a White House of­fi­cial told the Jour­nal, in a a clas­sic of po­lit­i-cal ra­tio­nal­iza­tion. WSJ 1-28-15