Obama Seeks Tax Hikes On The 1%



In his annual State of the Union address on Tuesday, President Obama will outline his plans for the coming year. First up: tax hikes for America’s wealthiest people and the country’s largest financial firms.

In doing this, he seeks to close capital gains loopholes on trust funds and raise the top capital gains rate to 28 percent.

As far as financial firms, the country’s largest institutions would see new fees attached to loans. In the plan, the money from these two groups would aid the middle-class with tax credits, helping over 5.1 million families and providing free tuition to students. Read more at ABC News.

{Andy Heller-Matzav.com Newscenter}


  1. I think everyone should think for themselves and not just listen to what others say, and you will realize that president Obama is really quite a good president. His stimulus had a massive effect on the economy. His health care reform has helped many poor people. Although I wouldn’t vote for him if he could run again because of his foreign policy, especially in regard to Israel, however the way he runs our country like what this article is about, deserves much praise, and I would put him up there with the greats.

  2. #1 – Are you kidding? Seasoned doctors are leaving their profession, insurance companies are raising fees and lowering payments to providers, “death panels” are already functioning, jobs at good salaries are going overseas – – – if you don’t know this, you are a “troll” or a dupe.

  3. It is way to early to comment as to whether such a plan is a good thing or not. This will depend on a number of factors: (a) who will be considered “wealthy” in regard to this program; (b)how much of a tax hike will be included in the plan; (c) how will the tax credits offered be structure and where does the number 5.1 million families come from (d) how do we define “family”? (used to be a family in the United States meant a man a woman and 2.4 children. Today a family consists of two women and a dog.)

    Depending on these factors and others, will determine whether these taxes hikes (or more precisely transfer payments, (because that’s what they really are) will benefit the country as a whole, or will destroy any remnant of the middle class, their businesses and their savings.

    As to those who declare that President Obama has performed well for the country at least in terms of his domestic policies, let us take stock. Mr. “think for yourself” suggests that Obama’s stimulus had a massive effect on the economy. Say’s who? From what I’ve read tall the money was poured into banks to keep them from failing, and that said money was paid to corporate management as bonuses despite their poor performance.

    “His health care reform has helped many poor people”. And you know this is so, exactly how? From your own experience? Did you ask anyone who was covered by Medicare whether their coverage has been diminished? Because it has been diminished. Think for yourself, Mr “think for yourself”. Isn’t it more difficult for an elderly person to supplement his income than for a young vibrant capable “poor” person?

    As far as other domestic polices that Mr. Obama has pursued, can we honestly say that race relations have improved since he took office. Are more people better nourished, better housed, or better educated, since Obama became President?

    Where’s the beef? Think for yourself.