Rising Hegemon
The cornerstone of Obama's proposal will be a $500 "second earner" tax credit to boost the fortunes of families where both spouses work, a substantial expansion of the Child Tax Credit to $3,000 per child under five, the White House said on Saturday night ahead of his seventh annual address to the nation.Closing tax loopholes on trust funds? Why that's pure communism!
The president's plan will also call for closing the trust fund loophole and raising the top capital gains tax rate to 28 percent.
Bravo!
9 comments:
True, it's a Great idea that is never going to happen. The way I see it Obama is just trying to get the fans excited for the next act. Like a warm up band at a concert. They aren't worth a darn but let's get ready for the main act (actress?).
Tax the rich? Hah. Never going to happen.
w3ski
I agree, w3ski. But, hell, it's so much fun watching him rattle the GOP cages.
publikkklans would have filibustered anyways. no. maybe w/ the pubs in charge, the blocking will be THEIR fault. and they can't hide behind the dem majority. NOT THAT THEY WILL GET THE BLAME W/ THE "LIBRAL" gnewz we have.
Now he can point to his valiant effort to reform taxes to benefit the middle class without having to upset his Wall St friends by actually accomplishing anything. A win-win for his legacy.
To Obama's enduring shame, this is just, as Robert Kuttner called it, the politics of gesture, a heightening of the contradictions in anticipation of the 2016 elections.
It's a fait accompli that these proposals will go nowhere in the current Congress. Even if by some miracle, these proposals were to pass, they would still be insignificant compared to the economic and legal damage that will be done by successive chipping away of bank regulation and the effects of far-ranging so-called trade treaties such as TPP and TTIP and the proposed agreement on services and banking.
When one party is crazy and the other is cynical, the only constituency that wins is the wealthy.
nice try Mr. president.
Obama and the DLC are just peeing on us now. Not funny.
zombie reagan has been hard to kill. zombie FDR needs to be revived.
In all fairness to Obama, I am a middle-class wage earner and have been such since 1983. The tax cut he did push through in his first was far and away the biggest cut I have ever seen. He did cut taxes for the middle class.
Bob
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