Saturday, July 13, 2013

Saving for college? You will be punished for it.

"Colleges impose a very high private penalty on savings, giving people incentive to consume rather than save. Moreover, this penalty — call it a tax — has grown substantially over time in a stealth fashion with rising college attendance, soaring tuition charges and more aggressive tuition discounting by colleges."  Richard Vedder explains.

1 comment:

  1. This is appalling...punishing those who do the responsible thing and save for their needs, or their childrens needs. Tax should be based on income, not savings...I'm not even employed at the moment (well I'm self-employed as a sole trader), and still I save more than many of my employed friends in high flying careers....