Obama's Tax Hikes on "The Rich" Would Slam the Middle Class
RUSH: They devised a program, a 529 program, much like any 401(k) or medical saving account. You put the money for your kid's education away, and we will not charge you any tax on it... If you take it out for any other reason, you pay tax on it, take it out early, pay tax on it. But if you wait and only withdraw money from the 529 account to educate your kid, no tax. Now you're gonna pay tax when you withdraw the money. Because Obama's promising other people free community college, and who
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