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View Full Version : Obama to Seek Billions in New Taxes on Investments and Inheritance




NACBA
01-18-2015, 08:33 AM
President Barack Obama is turning to his biggest television audience of the year to pitch tax increases on the wealthiest Americans and put the new Republican Congress in the position of defending top income earners over the middle class.

As Obama continues to signal what he will propose during Tuesday's State of the Union address, senior administration officials said Saturday that he will call for raising the capital gains rate on top income earners and eliminating a tax break on inheritances. The revenue generated by those changes would fund new tax credits and other cost-saving measures for middle-class taxpayers, officials said.

Tax increases are rarely welcomed by congressional Republicans, who now hold majorities in the House and the Senate for the first time in Obama's presidency. Obama's tax proposals will likely be dismissed, if not outright ignored, by lawmakers outside the Democratic Party's liberal base.



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angelatc
01-18-2015, 08:50 AM
Yeah, everything he does now is just noise for the 2016 election.

euphemia
01-18-2015, 11:34 AM
What he plans to say is that this tax increase on the wealthy is to give middle-class families a $500 tax credit.

What. an. idiot. What is $500 when our family took about a $20000 pay cut last year?

Stop fiddling with the tax code. In fact, cut taxes for businesses so they can hire people and pay them good wages.

Stop paying people to have more children. I read an interview with Thomas Sowell last week. The takeaway is that an unwed mother can afford a two-bedroom apartment and do no work, while his own daughter did not get pregnant. She went to college and has a job, but can only afford a studio. People who don't work can afford more than people who do.

Fix that, and things might get back on an even keel. Income equality? Really? How about work equality?

Warlord
01-18-2015, 11:52 AM
he is feeding envy among the classes