◼ President Obama’s decision to drop his plan to tax the earnings of college savings plans known as 529s was a jaw-dropper for many reasons. Rarely, if ever, does a president offer up a detailed proposal in the State of the Union—the best annual opportunity for the White House to introduce and gain support for policy proposals—and then completely back away from it in less than a week. What on earth do we take away from this startling bit of politics? Here are our thoughts: - College Republicans (CRNC)
- This is amateur hour in the White House.
- Liberals are scraping the bottom of the barrel in search of revenue to fund their ideas.
- The president’s struggle offers a lesson in how difficult comprehensive tax reform will be.
The problem with socialism is, sooner or later you run out of other people's money. Then you try to tax your own supporters' college funds.
— John Hayward (@Doc_0) January 30, 2015