OnCompanyTime
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OnCompanyTime14 karma
It sounds like a terrible idea. If all 529 savings are appropriated by the government then why have a 401k, or an IRA, or even a personal savings account? The risk of those being seized would likely lead to many people reducing their savings rate significantly across the board. A low/negative national savings rate would be terrible for the middle class and the nation.
OnCompanyTime12 karma
Honestly that blows my mind. I don't know how I missed it but I hope the idea is dead. It would set such a terrible precedent, and destroy any incentive that the middle class has to save any money at all.
OnCompanyTime4 karma
For real. I thought that milangdo's comment was a weird one; it seems like a group of users are legit making shit up.
OnCompanyTime2 karma
This article is 4 years old man. This isn't a real thing. The author even ends the article by advising people to contribute to their 401k and IRA plans.
OnCompanyTime14 karma
Is this a proposed solution? The government taking ownership of privately owned 529 savings accounts and using them to pay for everyone?
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