5 Reasons We Were Outraged by the Presidents 529 Proposal

The Presidentï ¿ ½s proposal to take away the federal tax benefits of 529 plans caused a reaction that almost no one could have predicted. The day following his State of the Union Address every major publication featured a story on college savings plans. Republicans and Democrats alike opposed the plan, calling it an attack on the middle class. Much to our relief, the President had a change of heart and one week later he announced that he would leave 529 plans alone. The White House claimed that the reason for dropping the proposal was that it became ï ¿ ½such a distractionï ¿ ½. But we wondered why they ever brought up this plan in the first place. According to Strategic Insight, there are over 7 million American families currently using 529 plans ï ¿ ½ thatï ¿ ½s an awful lot of people to take tax benefits away from! We took a closer look at the data used to support the Presidentï ¿ ½s plan and wanted to provide some further clarification: 1. Times have changed The idea to eliminate the tax benefits of 529 plans was based on the belief that very few families use them, and the ones who do are wealthy. Huh? We know that 529 plans have been gaining popularity in recent years among all income levels, so we checked the Presidentï ¿ ½s source. ï ¿ ½A Small Percentage of Families Save in 529 Plansï ¿ ½ was a study conducted by the Government Accountability Office (GAO) in 2012 that cites data from 2010. So the first reason this plan was destined to fail was that it was based on five-year old data. 2. Not everyone saves for college The study claimed that in 2010 only 3 percent of American families used 529 plans, yet 88 percent of 529 plans are owned by families with children. So why are we looking at the total number of households? According to data from Savingforcollege.com and the U.S. Census Bureau 6.8 percent of families with children were using 529 plans in 2010, and that number jumped 16.8 percent in 2014. So, yes, the more accurate number was close to six times the amount of people the proposal was based on. 529 plans and their tax benefits are here to stay 3. We need to look at the bigger picture The Presidentï ¿ ½s proposal was based on the assumption that only a small number of wealthy families use 529 plans, and most had low account balances. The GAO report mentioned above cited a study of 6,432 families that found 3 percent had 529s, bringing the actual number to 195. In our opinion, thatï ¿ ½s certainly not enough families to make up a sufficient sample size. Especially when youï ¿ ½re talking about a policy that would affect over 122 million households! 4. Wealthy families arenï ¿ ½t the only ones saving for college In fact, according to Strategic Insight 70 percent of families that use 529 plans have household incomes below $150,000. And we believe this number is growing. In fact, Savingforcollege.com recently conducted a survey that revealed 73% of those people who intended to open a 529 plan in the next 12 months were below the $150,000 mark. While a north-of-six figure income might seem like a lot, itï ¿ ½s definitely nowhere near the one percent. In some major U.S. cities it could even be considered modest. Yet itï ¿ ½s still probably too much to qualify for any significant amount of federal financial aid, and too little to be able to pay for college out of pocket. 5. The tax incentive was working Prior to the Bush tax cuts in 2001, earnings in 529 plans were taxed at withdrawal. Since they were made tax-free, the total amount of assets in 529 plans has skyrocketed, growing from $19.4 billion in 2001 to $254 billion today. At the end of 2013, the average 529 balance was around $19,000 ï ¿ ½ enough to cover about one-yearï ¿ ½s worth of tuition and fees at a four-year public university today. We can safely assume that if the President were to take away the tax benefit this savings momentum would soon come to a halt. And if the removal of the tax benefits wasnï ¿ ½t enough, families would likely get hit with higher plan management fees. 529 plans have been growing rapidly in recent years, causing fees as a percentage of assets to decline. But if plan participation drops, fixed costs will make up a larger proportion of the fundï ¿ ½s total assets. Find the lowest cost 529 plans 6. There was nothing to gain by the proposal The President planned to use the tax revenue from 529 plan earnings to pay for other education reform programs such as free community college and making the American Opportunity Tax Credit permanent. But as we pointed out, if you take away the incentive families wonï ¿ ½t use 529 plans. If no one is using 529 plans, there wonï ¿ ½t be any tax revenue or college savings. The plan was a lose-lose situation for everyone involved. The Presidentï ¿ ½s proposal to take away the federal tax benefits of 529 plans caused a reaction that almost no one could have predicted. The day following his State of the Union Address every major publication featured a story on college savings plans. Republicans and Democrats alike opposed the plan, calling it an attack on the middle class. Much to our relief, the President had a change of heart and one week later he announced that he would leave 529 plans alone. The White House claimed that the reason for dropping the proposal was that it became ï ¿ ½such a distractionï ¿ ½. But we wondered why they ever brought up this plan in the first place. According to Strategic Insight, there are over 7 million American families currently using 529 plans ï ¿ ½ thatï ¿ ½s an awful lot of people to take tax benefits away from! We took a closer look at the data used to support the Presidentï ¿ ½s plan and wanted to provide some further clarification: 1. Times have changed The idea to eliminate the tax benefits of 529 plans was based on the belief that very few families use them, and the ones who do are wealthy. Huh? We know that 529 plans have been gaining popularity in recent years among all income levels, so we checked the Presidentï ¿ ½s source. ï ¿ ½A Small Percentage of Families Save in 529 Plansï ¿ ½ was a study conducted by the Government Accountability Office (GAO) in 2012 that cites data from 2010. So the first reason this plan was destined to fail was that it was based on five-year old data. 2. Not everyone saves for college The study claimed that in 2010 only 3 percent of American families used 529 plans, yet 88 percent of 529 plans are owned by families with children. So why are we looking at the total number of households? According to data from Savingforcollege.com and the U.S. Census Bureau 6.8 percent of families with children were using 529 plans in 2010, and that number jumped 16.8 percent in 2014. So, yes, the more accurate number was close to six times the amount of people the proposal was based on. 529 plans and their tax benefits are here to stay 3. We need to look at the bigger picture The Presidentï ¿ ½s proposal was based on the assumption that only a small number of wealthy families use 529 plans, and most had low account balances. The GAO report mentioned above cited a study of 6,432 families that found 3 percent had 529s, bringing the actual number to 195. In our opinion, thatï ¿ ½s certainly not enough families to make up a sufficient sample size. Especially when youï ¿ ½re talking about a policy that would affect over 122 million households! 4. Wealthy families arenï ¿ ½t the only ones saving for college In fact, according to Strategic Insight 70 percent of families that use 529 plans have household incomes below $150,000. And we believe this number is growing. In fact, Savingforcollege.com recently conducted a survey that revealed 73% of those people who intended to open a 529 plan in the next 12 months were below the $150,000 mark. While a north-of-six figure income might seem like a lot, itï ¿ ½s definitely nowhere near the one percent. In some major U.S. cities it could even be considered modest. Yet itï ¿ ½s still probably too much to qualify for any significant amount of federal financial aid, and too little to be able to pay for college out of pocket. 5. The tax incentive was working Prior to the Bush tax cuts in 2001, earnings in 529 plans were taxed at withdrawal. Since they were made tax-free, the total amount of assets in 529 plans has skyrocketed, growing from $19.4 billion in 2001 to $254 billion today. At the end of 2013, the average 529 balance was around $19,000 ï ¿ ½ enough to cover about one-yearï ¿ ½s worth of tuition and fees at a four-year public university today. We can safely assume that if the President were to take away the tax benefit this savings momentum would soon come to a halt. And if the removal of the tax benefits wasnï ¿ ½t enough, families would likely get hit with higher plan management fees. 529 plans have been growing rapidly in recent years, causing fees as a percentage of assets to decline. But if plan participation drops, fixed costs will make up a larger proportion of the fundï ¿ ½s total assets. Find the lowest cost 529 plans 6. There was nothing to gain by the proposal The President planned to use the tax revenue from 529 plan earnings to pay for other education reform programs such as free community college and making the American Opportunity Tax Credit permanent. But as we pointed out, if you take away the incentive families wonï ¿ ½t use 529 plans. If no one is using 529 plans, there wonï ¿ ½t be any tax revenue or college savings. The plan was a lose-lose situation for everyone involved.

Chinua Achebe s Things Fall Apart - 950 Words

Sometimes one is not as strong as one appears. In Chinua Achebe’s Things Fall Apart, Okonkwo is a man determined to succeed, whose violent actions result from his need to find a sense of identity within his community. Through many different acts of violence, we see Okonkwo’s internal struggle with himself, the legacy of his father, and the changing society as a whole. Ultimately, Achebe uses violence throughout the novel to illustrate Okonkwo’s identity through the lens of his relationship with society, and how certain changes in society affect him. Okonkwo uses a variety of violent tactics towards his family to assert his dominance and masculinity according to his interpretation of societal standards. During the â€Å"Week of Peace,† Okonkwo beats his wife after she neglects to return home to cook for him. â€Å"‘When she returned he beat her heavily. In his anger he had forgotten that it was the Week of Peace’ . . . ‘But Okonkwo was not the man to stop beating somebody half-way through, not even for fear of a goddess’† (Achebe 29-30). This shows how Okonkwo uses violence to convey his superiority and control over his family, which in the Ibo culture, is an indication of social class. Yet although Okonkwo is initially characterized by extreme violence and masculinity, he is not necessarily the fearless warrior he appears to be. When Okonkwo partakes in the killing of Ikemefuna, an inherently violent event, he experiences an identity crisis. This is precipitated by new, so-calledShow MoreRelatedChinua Achebe s Things Fall Apart1719 Words   |  7 PagesThings fall apart is a classic novel written around the turn of the century, the novel focuses on the protagonist who we can also call a hero, Okonkwo. Okonkwo is a wealthy and respected leader within the Igbo tribe of Umuofia in eastern Nigeria. Strong individual with a passionate belief in all the values and traditions of his people. Chinua Achebe presents Okonkwo as a particular kind of tragic protagonist, a great man who carries the fate of his people. Okonkwo is a man who is inflexible andRead MoreChinua Achebe s Things Fall Apart1033 Words   |  5 PagesIntroduction Chinua Achebe is a famous Nigerian novelist in worldwide. Things fall apart is Chinua Achebe’s first novel published in 1958, the year after Ghana became the first African nation to gain independence. And this novel is one of the first African novels to gain worldwide recognition. (Phil Mongredien, 2010) This novel presents people a story of an African Igbo tribal hero, Okonkwo, from his growth to death. The fate of Okonkwo also indicates the fate of Africa caused by the colonizationRead MoreChinua Achebe s Things Fall Apart883 Words   |  4 Pagesdehumanize the native population and convince themselves that they are helping. Chinua Achebe’s book Things Fall Apart attempts to correct these misguided views of African societies by portraying a more complex culture that values peace, and the art of conversation. Achebe also tries to portray the idea that not all European people they come in contact with are aggressive, and misconstrued in their view of the African societ ies. Achebe tries to show us the value of his society through repeated views into conversationsRead MoreChinua Achebe s Things Fall Apart1410 Words   |  6 PagesTeddy Manfre Ms. Blass ENG 209-001 April 24, 2017 Things Fall Apart In 1958, Chinua Achebe a famous Nigerian author publishes one of his most famous novels Things Fall Apart. The novel takes place in a Nigerian village called Umuofia. During the time that this novel is published Nigeria is being criticized by the Europeans for being uncivilized. In response, Achebe uses his brilliance in this novel to express the valued history of his people to his audience. His focus in the novel is on the pre-colonizedRead MoreChinua Achebe s Things Fall Apart1015 Words   |  5 PagesIn his novel Things Fall Apart, author Chinua Achebe utilizes his distinctive writing style in order to accurately capture the culture and customs of the Igbo people despite writing his story in a foreign language. Five aspects of Achebe’s style that make his writing unique is the straightforward diction present in dialogue, the inclusion of native parables convey Igbo life authentically, the inclusion of native Igbo words and phrases, detailed descriptions of nature and the usage of figurative languageRead MoreChinua Achebe s Things Fall Apart1702 Words   |  7 PagesTitle: Things Fall Apart Biographical information about the author: Chinua Achebe was born in Nigeria in 1930. He had an early career as a radio host, and later became the Senior Research Fellow at the University of Nigeria. After moving to America, he became an English professor at the University of Massachusetts, Amherst. Achebe has won numerous awards for his poetry and fiction, including the Man Booker prize and Commonwealth Poetry Price. He currently teaches at Bard College. Author: Chinua AchebeRead MoreChinua Achebe s Things Fall Apart Essay1347 Words   |  6 PagesCulture is an Important Element of Society Chinua Achebe is the author of when Things Fall Apart while Joseph Conrad authored Heart of Darkness. Conrad and Achebe set their individual titles in Africa; Achebe is an African writer whereas Conrad is Polish-British. The authors draw strength from their backgrounds to validity the authenticity of their fictional novels. Conrad writes from his experiences in the British and French navies while Achebe uses his African heritage. The theme of culture isRead MoreChinua Achebe s Things Fall Apart1248 Words   |  5 PagesChris Lowndes Ms. Cook A.P.L.C. 21 October 2015 We Are Family: Hardships in One s Family in Things Fall Apart Specific attributes correlate with each other to help create or not create the ideal strong family. However, through those attributes arise conflicts and major disputes. This issue of trying to achieve and create a strong family is of immense importance in one’s life, especially in Chinua Achebe’s, Things Fall Apart, a milestone in African literature. For instance, the father leaves his legacyRead MoreChinua Achebe s Things Fall Apart Essay1682 Words   |  7 Pagescertain degree of the priest class, libation, holidays, creation stories, divine systems of punishments and rewards. In the novel, Things Fall Apart, written by Chinua Achebe, is a story of tragic fall of a protagonist and the Igbo culture. Achebe demonstrates different examples and situations of where an African culture, in the instances of tribal religions, did certain things because of their tradition is and the way they developed into. African cultures pondered life mysteries and articulated theirRead Mo reChinua Achebe s Things Fall Apart1314 Words   |  6 PagesChinua Achebe masterpiece â€Å"Things Fall Apart† (1959) is the classic story of Okonkwo, a young man who strives to be revered by his village and family but because of his own internal character flaws meets his own demise. In the Igbo culture, family traditions are an important narrative throughout the novel. Okonkwo, the protagonist character of this story, begins with many attributes of what would be concluded as a hero with his cultural society. He is hard working, a material provider, feared and

Americas Zoos Entertainment To Conservation Essay

Americas Zoos: Entertainment to Conservation nbsp;nbsp;nbsp;nbsp;nbsp;The children run ahead, squealing with delight. Their parents lag behind holding the childrens brightly colored balloons and carrying the remnants of the half-eaten cotton candy. The family stops to let the children ride the minitrain and take pictures together under the tree. They walk hand- in-hand toward the exit, stopping first at the gift shop where they each splurge on a treat to remind them of the days adventure. Although this may sound like a typical scene from the local amusement park, its actually the city zoo. All that forgotten was walking from cage to cage watching the anxious animals pace back and forth in their closed-in prisons (Hope, 1994).†¦show more content†¦City zoos took over that connection to nature, especially for the cityfolks. Afternoon visits to the zoo became a fun form of family entertainment (Arrandale, 1990). Even though the bars separated the two worlds, it allowed the people to see the animals. When this interaction began to take place, people examined these institutions for their concern for the animals. The intentions were obvious, to provide the public with the ability to be around these creatures, but were their methods ethical? Animals were displayed for the general publics enjoyment (Diamond, 1995). As one critically judges the physical environment of these animals they can personally decide whether ethics were compromised. Some argued that the zoos provided a safe home and regular meals for the animals, and for this they should be happy. On the flip side, these creatures were caged and unable to thrive in the wild (Burke, 1990). Under observation, zoos are examined for the humanity with which they treat the animals. Animal welfare has become a concern within our country. This group is not to be confused with the animal rights movement. Without the use of violence, one of the animal welfare movements goals is to improve the way these institutions, like the city zoos, provide for these animals (Burke, 1990). Honoring the conservation efforts, they simply want to make sure the animals are cared for with the highest levels of concern, both physically andShow MoreRelatedThe Real Effects Of Zoos On Animal And Human Essay1714 Words   |  7 PagesWhen I was a little girl, I was always eager to have a day out to the zoo where I could get up close with hundreds of beautiful animals. I heard many interesting stories of animal life and how hard they have to fight in wild life to survive. Zoo, under my eyes, was a wonderful land where animals were rescued and taken care off in a safe beautiful place. It was much more fun when I figured out animal could do many interesting things as human did as monkey could drive bicycle, and dolphin can danceRead MoreZoos: The Federal Animal Welfare Act 1167 Words   |  5 PagesZoos often claim they are modern day arks, providing a safe, comfortable environment; making animals happy and content; educating the world about wildlife; and saving species from the brink of extinction while at the same time providing vital research into the lives of animals. There is a moral presumption against keeping wild, defenseless animals in captivity. The zoo is a prison for animals who have been sentenced without a trial. Ei ther we have duties to animals or we do not. I feel that weRead MoreZoos Efforts to Help Conservation Essay1304 Words   |  6 Pagespracticed the capture and display of animals in what are now known as zoos (Fravel). Records describe such exotic animals as birds, lions, giraffes, and tigers in captivity (Fravel). Since then, zoos have continued to entertain millions with the exciting chance to view exotic animals up close and personal. Even in ancient Greece, exotic animals were on display in fighting arenas, and in enclosed viewing areas. Originally in America, zoos were just created so that royalty and the wealthy could flaunt theirRead MoreEssay on Animal Conservation and Enrichment in Zoos1546 Words   |  7 PagesZoos have always reflected the curiosity and intrigue of humankind toward the animal kingdom. Throughout several different ancient civilizations dating back thousands of years, including Egypt, China, and all over Europe, caged wild animals were seen as divine repr esentatives and sat next to the thrones of only the most wealthy and powerful. â€Å"Stone tablets found in the Sumerian city of Ur, dated to around 2300 BC, document the establishment and management of the earliest known animal park† (HamiltonRead MoreAre Zoos Not Immoral?1711 Words   |  7 PagesQuestion 1 Zoos have been around for thousands of years. They have filled people with joy knowledge of the animals that are contained in them, but at the same time they are locking animals up behind bars causing some people to say that zoos are immoral. Zoos provide a way people to develop a fondness for these animals and causing more people to care about what happens to them making zoos not immoral. In the early years of zoos they were meant as a way to show the domination of man over that ofRead MoreZoos Are A Valuable Source For Public Study And Revenue For Wildlife Conservation Essay1772 Words   |  8 Pageseager to go to the zoo where I could get up close with hundreds of beautiful animals. I had heard many interesting stories of animal lives and how hard they had to fight in the wildlife to survive. The zoo, in my eyes, was a wonderful place where animals were rescued and taken care of. It was much more interesting when I figured out animals could do several things like monkeys could drive bicycles, and dolphins could dance in the water. However, with the reveal of media, the zoo also has the otherRead MoreThe History and Future of Zoos Essay2638 Words   |  11 PagesZoos present a certain blend of nature and culture. They have always provided a way to bring natural wildlife and urban Americans together as a means of entertainment. Yet, throughout the years the role o f zoos have changed. Though once used for amusement, zoos are now being used for education on preservation and the welfare of endangered species. One may wonder where and how the idea of zoos started and just how they, and the environment around them, have changed throughout history. The conceptsRead MoreLiving Space The Size Of Your Closet1639 Words   |  7 Pagescaptivity, just as elephants in a zoo. The benefits of captivity (like in zoos or aquariums), as stated by Rick Block, is that it is a valuable source of public education and can help promote conservationism and a better understanding of the effects we have on wildlife, and can also help counteract animal endangerment through captive breeding, says Jeffery P. Cohn; on the other hand it brings up questions on the conditions animals are kept in, like elephants in zoos, which Cohn highlights, to the situationsRead MoreThe Rights Of Animal Rights Essay1613 Words   |  7 Pagessuffered to amuse human, how they live without care in unqualified conditions. Detroit Zoo mentioned in the article â€Å"Detroit Journal; Ripples of Controversy after a Chimp Drowns† was opposed by letting many chimps drown because of the moat they use for chimp exhibit. The other case is Lincoln Park Zoo which was drawing criticism from animal right activists by the dead of nine animals in the short time. Although zoo officials pointed out many excuses to protect themselves, animal right activists arguedRead MoreUnited Nations Environment Programme ( Unep ) Essay1688 Words   |  7 Pagesdisplay the animals at a cost, which caused the establishment well known as a zoo. Zoos house rare and exotic animals that attract various crowds, from groups of families to busloads of rowdy children on a field trip for amusement and educational purposes. Although zoos contain rare animals, finding a zoo is nowhere near rare. In fact, the polar opposite. These amusement parks are located in urban and rural areas across America and around the world. However, the attraction of paying customers invoke the

My Room free essay sample

I believe that someone’s room is one of the most revealing things about a person. If I were to take a look, a good insightful look, into someone’s room, I could learn an enormous amount about them. This being because one needs to be proud of their room, but more importantly, the must trust it. Someone’s room is a self-fabricated environment where they need to be able to laugh and cry, sleep and study. It’s the place where they pose in the mirror without feeling narcissistic and where they dance without feeling embarrassed. As a person walks into my room to try to figure me out, they would most likely be overwhelmed by the insane amount of clutter. Clothes and towels pattern my carpet, books cram themselves into their shelves, and paper litters my desk; In my opinion, that’s me in a nutshell because I am an inherently messy person. We will write a custom essay sample on My Room or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page My life, I feel sometimes is this same hectic clutter. Very rarely am I doing absolutely nothing, and similarly, my room is almost never clean. ? As this nameless, random person continues into my room, I think they would find some intrigue among the chaos. As they sit down on my bed they could browse my collection of books from Harry Potter to Logic Puzzles and IQ Tests and from Seabiscuit to The Jungle. The would find Dean Koontz and Lee Child, F. Scott Fitzgerald and Dr. Seuss. I feel like the question would eventually arise, who is this kid? Next I think this person’s eyes would wander to the wall above my desk. Here hangs a water color print scribed with illegible Italian. Beside that are pictures of friends and teammates. Two trophies stand on a shelf and several medals hang around them. There are two cased baseballs, one with a signature, and above those is an Adam Sandler autograph. I think at this point it would become clear to the person that I hold both friends and sports very dear to me, that I very much take pride in the athletics I have been involved in. I think that they would conclude that I very much love doing nearly everything I do. Among other things in my room, the person would notice a water polo ball, volleyball, surfboard and a hammock. Somewhere among the untidiness they would spot board shorts, a speedo, and flip flops and they would realize that I am very much a Southern Californian. I think that this person would leave my room impressed. I think they would like what they found, but I think they would encourage me to let more people into my room. Certainly I am impressed, but also uncertain. As I sit on my bed and look around, I realize I am very much trying to figure myself out too.