President Clumsy decides to change his stance on 529 college plans...

[njfan47]

Clumsy (aka obama) has decided that it was a bad idea to tax 529 college savings plans. Does this guy have even an ounce of common sense or judgment ability?

Stay tuned, though, the best is yet to come.

 

[fb107]

As we've already talked about there is enough AID floating around to help people that need it. To tax 529 plans is ridiculous because the people who have worked hard and saved in those plans will get no aid because they have the $ to pay. Not good enough for the Reparations in chief I guess...

 

[paul from philly]

Be thankful he won't be around long enough to propose taxing 401Ks and IRAs at a higher rate. There's a lot of money in those accounts and I bet it's killing him that he can't get at it................yet!!!!

 

[njfan47]

Good point, Paul. It will be interesting to see what happens if oil stays down for long. So many of the jobs created have been in the oil and oil-supporting industries, and now this is beginning to unwind. Clumsy had nothing to do with the creation of the jobs, but is very willing to take credit for it.

Capital expenditures in the oil industry totaled 1.2% of GDP in 2014. While that might not sound like much, if a good portion of it goes away, it will have a big impact on the economy.