Sunday, November 12, 2006

oops...wrong 529 plan and corruption endemic to rural North Carolina

Well it looks like Big Company will actually withhold payroll for NC - NOT IL. This means that my effort to put money into the IL 529 is wasted. I'm going to try to cancel the rollover - actually Bright Start Savings seems cooperative regarding such a cancellation. Now the only challenge is finding the time to check in on them.

NC's 529 program is fairly useless. Deductions are eliminated for anyone(s) earning over $100k. Actually NC's 529 plan looks even worse than IL, but what can be expected from such a corrupt state. As the population grows I expect less and less tolerance for such foolishness.

In ye old days the vast majority of the population was poorly educated (especially in the rural areas). The poorly educated were easily exploited by the educated minority (and the wealthy who were often well educated or hired those who were). To this day the poorly educated have a high tolerance for corruption and don't necessarily see it as a bad thing. Actually, I see this today in my poor rural community. Don't misinterpret me as a communist waging a class war here - as well as you know me, I certainly am not. But I am amazed by the factual reality I see.


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