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  • Obama to seek billions in higher taxes on wealthy, banks

    01/18/2015 6:24:33 AM PST · by HomerBohn · 33 replies
    MSN ^ | 1/18/2015 | Staff
    President Obama plans to propose raising $320 billion over the next 10 years in new taxes targeting wealthy individuals and big financial institutions to pay for new programs designed to help lower- and middle-income families, senior administration officials said Saturday. In his State of the Union address Tuesday night, Obama will propose raising the capital gains and dividend tax rates to 28 percent for high earners; imposing a fee on the liabilities of about 100 big financial institutions; and greatly broadening the amount of inherited money subject to taxes. Obama will also seek to boost private retirement savings by requiring...