I seem to be a lone voice around here when I point out 529s are just a "targeted tax cut" scheme to funnel more money in the liberal education racket, like pell grants and student loans. That in turn allows educrats to raise tuitions, pay themselves more and hire lefty professors. Why should saving for your kid's college be tax exempt, but saving to help them buy a house or start a business isn't? If you support 529s please explain that to me. The government should quit using the tax code to tell people what they should do with their own money and just lower rates in general.
Wouldn’t you already have been taxed on the money you are putting in those accounts? Or was it like a 401K and they took it from your paycheck?
Elites’ tactic in cases like this:
1) yoke the sheeple with crippling taxes
2) when you want them to go down a certain path, give them tax breaks if they take that path; in this case, the elites want the sheeple to pay the elites’ university system to indoctrinate the sheeple’s kids
3) it doesn’t hurt that the elites and their minions would be paying for their kids to go to the university indoctrination system anyway, since they want them to grow up to be good nwo minions.
4) so it’s a tax break the elites share with the sheeple, for tactical reasons, but there are, of course, many other tax strategies that the sheeple are ignorant of or unable to make use of, which work well for the elites. Thus, the elites and their higher-level minions say, “taxes are for the little people”.
Because education is a special thing.