The Obama team has already floated a proposal to tax 529s to pay for his ‘free college’ plans. While he has publicly backed off the proposal for now, anyone who thinks that it has been abandoned doesn’t understand how the left works - Two big steps forward, a half step back in the face of opposition, and then when it quiets down, two more big steps forward.
And when it is finally implemented, no one will be able to claim surprise - by that point, it will have ‘been on the table for years and everyone was on notice that it could happen’. So feel free to think that you are socking it away for your kids and grandkids; the sons of Obama should (but probably won’t) thank you you for what you are doing for them.
Thanks.
Emir Obozzo and his Sunni Left wing thugs have had their eyes on our IRAs, 401k’s and other retirement plans for a long time. So coveting after 529’s is predictable and not surprising.
Hopefully, my grand kids will have spent their 529 money deposited by hopeful older relatives on both sides.