Obama drops plan to tax college savings accounts; even Pelosi agrees!


It happened just one week after President Obama’s State of the Union address. I have to ask, who is advising the President? Just one week after his State of the Union address, Barack Obama was pushing $320 billion in new taxes to fund several new “free” programs. I remember one of the great sayings during my military career came from General James D. Thurman: “there is no free chicken.” So in that same vein, President Obama hoped to dump the burden of paying for the “free” stuff on a select group of Americans.

However, one of those tax increases ran into a little trouble.

As reported by Fox News, “President Obama has dropped his plan to end tax breaks for popular college savings accounts known as 529s. The decision comes in the wake of stern criticism from Republicans and pleas from top Democrats, including House Minority Leader Nancy Pelosi, to drop the plan.”

Continues on AllenBWest

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