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Many states have these things called 529 plans. Parents may contribute upto a certain amount, evade state income taxes as a way of augmenting college savings.


https://www.gao.gov/assets/gao-13-64.pdf

'''Few Families Have 529 Plans and Those Who Do Tend to Be
Wealthier''''


It's already been shown that 401Ks offer tax advantages UNFAIRLY to people whom are white and affluent - because their incomes are higher and they can afford to invest those funds - versus many of their constituents, and the "working class" as they call their constituents.....need that weekly cash flow to by the food and drink that is now inflated so that the 401K paper assets would go up.

Well, the 529 plan is the same thing - a way for Wealth Supremacists to keep widening the moat around them and their families. For instance, in NY state, the max for a married couple is $10,000 per year they can evade NY taxes on via 529 plans. BUT....

*In Certain minority communities, upto 85% of kids are from unmarried households, many times -hard working women of color just trying to get by. So JUST because she is a single woman of color, she can only go up to $5000. Why should SHE only be allowed $5,000 - - -while an affluent married white couple is allowed $10,000?


*If a college educated professional couple is earning combined $175,000 per year. And a middle-class person, eventually gets the debunked "$15 an hour!" dream - that person is earning $31,000 per year. Let's say - - that this is one of those antiquated Beaver Cleaver nuclear families with 2 parents. Now they make $62,000 per year.

It's MUCH easier for a couple earning $175k - - - to take advantage of the full $10,000 limit - versus the couple working for "$15 an hour!!!!" that the academics decided sounded good and is a living wage.


So once again, we have something that is meant to sound good - -- but is a tool for Wealth Supremacy.

It's an inconvenient truth.


Another relevant political topic relating to education and the wealth disparity, presented with non partisan link, and no personal attacks.
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