Tuesday, January 27, 2015

President Obama's plan to Tax 529 Plans

I am not looking to start a political argument here, but I am sad and even a little disgusted by this proposed tax hike. I am of the opinion if a parent is working hard to care for their children's future anyone who gets in the way is collateral damage. I have heard both political parties are not really backing this action plan. However, it is an indicator I see of governmental crack down on family and parenting in particular.

I have worked diligently over the course of  my career to become knowledgeable about parenting the trends, practices, and impacts which  effects it. Over the course of the last five years I have seen parents arrested for leaving their kids 10 and 12 home alone for the time it took to run and put gas in the car, for children not being is school even when the school knew the parent(s) dropped them off and picked them up everyday, for allowing a child or stay in a locked car for ten minutes while Mom or Dad grabbed something for dinner from the grocery store, and most recently for letting their children walk a mile home alone. This is unacceptable one of the most important thing for any parent to do is to teach children how to be independent. Independence only comes as children learn to be alone and gain experience in making decisions and knowing they are okay. There is a balance to be struck between protecting our children and overprotecting them. What I am most concerned about is instilling the fear of risk into our children. Life has risk and if  we cripple our children by making them afraid to live; then we are crippling them for life. Step back and take time to think clearly about the risks you are allowing and not allowing your children to take. Look at your fears, examine them and talk about them with other adults.  Decide if they are rational or if you are being overprotective. If it is the latter then make decisions not based on them but in spite of them.

I fear for the parents who are making 50k trying to save in a 529 plans for their children's future. They are being taxed just the same as those who are making 200K and saving in a 529. Please, contact your Senators' and Congressmen and let your opinions be known.  The Middle Class has enough to worry about without the Federal Government reaching into the already limited funds of parents trying to further their children's future.

Believe in your Parenting!

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