If President Barack Obama continues to push his aim of taxing college savings plans, it will only send more votes to the Republican presidential candidate in 2016, former Arkansas Gov. Mike Huckabee, a possible presidential contender, told CNBC on Friday.
"If the president continues to want to tax people who have saved money for their kids' and grandkids' education, I think it will win the votes of anybody with an IQ above broccoli," Huckabee said in an interview with "Closing Bell."
As part of his plan to help the middle class, the president has proposed taxing withdrawals from 529 college savings accounts. Right now, money can be withdrawn from those accounts tax-free if the proceeds are used for education.
Huckabee called Obama's approach irrational.
"To turn around and to say in addition to making it harder for working people to put aside money for their kids, we're going to turn around and redistribute and give free money to people who didn't save anything," he said, referring to the president's plan to make community college free for most students.
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