Posted on 01/18/2015 8:32:38 AM PST by SeekAndFind
President Obama will call for higher taxes on the wealthy and large financial institutions in his State of the Union address on Tuesday.
Obama will propose that the $320 billion in tax hikes be used to pay for tax cuts for the middle class, as well as a range of programs, the White House said Saturday.
His plan would generate $320 billion over 10 years by raising the capital gains and dividends rate to 28 percent — the same rate under President Reagan, White House officials point out — on inherited assets, such as trust funds.
The proposal calls for raising the base capital gains rate to 24.2 percent from 20 percent. The 3.8 percent Medicare surcharge pushes that level to 28 percent total, White House officials said, up from 23.8 percent. The plan would affect couples with incomes of at least $500,000 a year.
(Excerpt) Read more at thehill.com ...
When is he going to focus on jobs for the middle class. Focus like a laser beam if I recall his words.
This is another example of the “BEFORE” phenomenon:
“We have to pass the bill BEFORE you can read what’s in it.”
“I voted for the bill BEFORE I voted against it.” (Or was it the other way around, voted against the bill BEFORE voting for it? I forget, doesn’t matter.)
And this latest, “We have to raise your taxes BEFORE we can lower them.”
There are sure to be lots of other examples. Chime in.
Six years in office, two with ownership of Congress, four more owning the Senate, and just now he happens to float a tax-the-rich scheme? Why not earlier when he could have gotten it through? The answer’s easy — 2016.
“Three-Card Monte”and the old”Shell Game”are Alive and Well!!!!!!!!!!
I never would have seen that one coming.
higher taxes on the wealthy
No he won’t. He will propose higher taxes on high income earners; people who are TRYING to become wealthy. This is why so many wealthy people support high marginal tax rates; they are designed to keep us out of their clubs.
It’s more about pimping for the SOTUNIONS and other commie groups.
The guy is stuck on stupid.
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