The following was written by Joey Gomez, a contributing writer for The Collective Report, Truthout.org, and other sites. He can be reached on Twitter at @homerjoey.
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After getting backlash from both Democrats and Republicans to Obama’s 529 tax plan that would tax college savings — a luxury that’s attributed to the wealthier class — Obama has decided to scrap the plan that would help the lower and middle-income students pay for college.
It’s been recently reported that the 529 tax plan on college savings would have an impact not only on the wealthy, but also the middle and lower classes, seeing as there is a small percentage of people with middle-lower income that use the college savings. But to drop a policy altogether and abandon opportunities that could initially lessen the burden of paying for college is disappointing.