State of the Union

[bobabode]

http://www.washingtonpost.com/politi...y.html?hpid=z1

It looks like the Prez is going to propose for some tax overhaul while showing which side the 'pubbie's bread is buttered on.

[finnbow]

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.

Yeh, that'll sail right through Congress.

[mpholland]

Originally Posted by finnbow

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.

Yeh, that'll sail right through Congress.

The ability of politicians to get anything accomplished has been stagnant for so long that we now have to remember them for what they tried to do and not what they actually got accomplished. It is a pretty sad state of affairs in my book. OTOH, if you are going to go for it, why not go whole hog and try for pre-Reagan tax code? Better yet, let's go pre-Kennedy and have wartime increases to boot. Some of those wealthy politicians might not be so quick on the war trigger if they knew it was going to substantially raise their income tax rates.

[finnbow]

Originally Posted by mpholland

The ability of politicians to get anything accomplished has been stagnant for so long that we now have to remember them for what they tried to do and not what they actually got accomplished. It is a pretty sad state of affairs in my book. OTOH, if you are going to go for it, why not go whole hog and try for pre-Reagan tax code? Better yet, let's go pre-Kennedy and have wartime increases to boot. Some of those wealthy politicians might not be so quick on the war trigger if they knew it was going to substantially raise their income tax rates.

I would argue that he really isn't offering a serious proposal. He's just placing a marker on the table in the battle for the middle class during the 2016 election.

[Boreas]

Originally Posted by finnbow

I would argue that he really isn't offer a serious proposal. He's just placing a marker on the table in the battle for the middle class during the 2016 election.

Sadly, that's the way I read it too.

John

[Rajoo]

I wonder how Mitt Romney is going to respond to this.

Here is a remark from Ms. Warren:

Warren also singled out a company on whose board Hillary Clinton sat for six years when she was first lady of Arkansas: “If you work at Wal-Mart, and you are paid so little that you still need food stamps to put groceries on the table, what does more money in stockholders’ pockets and an uptick in GDP do for you?”

And the charge she is making is that both the Clinton(s) and Obama has been cozying up to Wall Street.

http://www.washingtonpost.com/politi...y.html?hpid=z1

[nailer]

Who was the last President or mainstream Dem/Rep President wannabe who wasn't cozy with Wall Street? As to President I'm thinking TR.

[finnbow]

I'm getting so sick of all the silly theatrics associated with the SOTU address that I'm hoping that there's a good college hoops game that night.

[Boreas]

Originally Posted by nailer

Who was the last President or mainstream Dem/Rep President wannabe who wasn't cozy with Wall Street? As to President I'm thinking TR.

FDR (He hated them and they hated him) and probably Carter.

John

[Boreas]

Originally Posted by finnbow

I'm getting so sick of all the silly theatrics associated with the SOTU address that I'm hoping that there's a good college hoops game that night.

I'll probably catch it on YouTube....... probably.

John