President Barack Obama has dropped his plan to raise taxes on money withdrawn from 529 college savings accounts. Why did the White House pitch the policy in the first place? Politico’s Ben White speculates:
The two most common lines of argument are that the White House thought no one would really notice (very unlikely with many in the media residing in the exact income brackets that tend to use 529s) or that they knew they would have to drop it and would then look like they were compromising (doubly unlikely as they are not currently negotiating anything and their whole plan is a political document not a real policy platform any way). The likely answer is they just screwed it up and decided (smartly) to let it go.
In other words, mainstream media reporters and editors paid attention because they use 529 plans and would have had to pay higher taxes if Obama’s proposal became law.
Which raises an interesting point. Most media professionals have group health insurance. If reporters and editors had to buy health insurance in the individual market, coverage of Obamacare might have been very different: