Obama’s 529 Plan Would Change How Families Save for College
Except for cash for clunkers, this has to the most idiotic ideas of the Obama presidency. Capital gains from middle-class savings should never be taxed, especially not for college purposes.
In contrast, if you made college loans taxable income. If students had to pay state and federal taxes on college loans, every year they took them out, they would be much less likely to rely on loans for education purposes. This would free students from education debt.
