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Reply to "Rich people - how much in 529?"
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[quote=Anonymous][quote=Anonymous]TAX THE RICH [/quote] It is true that the 529 is a tremendous vehicle for creating generational wealth with no tax consequences. Even the fact that it makes higher education doable with no loans is a separator between the wealthy and those who will struggle financially. Of course, the value of higher education going forward is something else being debated. The estate tax has become a joke at its current level of $28 million for married couples. The never ending income-tax cuts have blown a huge hole in the budget, expand at the debt, and in my opinion, have driven way too much wealth disparity in this country. Our health system is amazing, but only if you have amazing insurance. So back to the 529: Yes, it’s amazing, but only if you have the disposable income to fund it. As somebody who has sent to children to expensive private schools and funded a 529 and is on track for a well funded retirement I can agree, yeah, tax the rich. But this country is a MAGA mess. It’s not happening. [/quote]
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