The State of the Union will present rehashed tax the rich policies with the usual carrots for those who aren’t rich. The taxes will be spread out over the next ten years and will grow exponentially in time.
In addition to the great community college giveaway, Mr. Obama is going to call for $320 billion in tax increases on the “rich.”
There will be a hike in investment tax rates to fund Mr. Obama’s freebies for the “middle class” which includes free community college for some, child care for some, and other tax credits. The tax increases will trickle down to everyone as they always do.
Like any dedicated social engineer who strives for social justice, he will eliminate a tax break on inheritances or, to put it more accurately, he will steal personal inheritances the government has no right to. Estates will pay capital gains taxes on securities at the time they’re inherited. It will affect the top 1% for now allegedly but this is how these government thefts begin. They go after the “rich” but eventually, after they have convinced people the government deserved to grab inheritance, all pay.
Capitol gains and dividend rates on couples making more than $500,000 per year will go up to 28%.
Mr. Obama loves the Progressive tax system and would like to grow it to equalize incomes.
It’s a non-starter with Republicans and Mr. Obama will use it to embarrass Republicans before the masses in the run-up to the 2016 presidential election.
Mr. Obama wants to impose a fee on the roughly 100 U.S. financial firms with assets of more than $50 billion. Officials said the fee is similar to a proposal from former Republican Rep. Dave Camp of Michigan, who led the tax-writing Ways and Means Committee. Camp’s plan, however, was part of a larger proposal to lower the overall corporate income tax rate.
The taxes proposed by Mr. Obama would go to: a $500 credit for families with two working parents, child care tax credit would go to $3000 for children under 5, and implementation of an education tax system by consolidating provisions from six to two. The latter is a possibility wit Republicans.
In his State of the Union, he will ask for an increase in paid leave for workers and will enact broad cybersecurity rules.
Federal workers can get leave to take their animals to the kennel at the current time.
“Tuesday can be a new day,” Republicans Senate Majority leader Mitch McConnell said. “This can be the moment the president pivots to a positive posture. This can be a day when he promotes serious realistic reforms that focus on economic growth and don’t just spend more money we don’t have. We’re eager for him to do so.”
That doesn’t look like a possibility at this point.
The State of the Union will include some boasting about the economic recovery though more than 92 million Americans are out of the work force.
“America’s resurgence is real, and we’re better positioned than any country on Earth to succeed in the 21st century,” Obama said Wednesday in Iowa, one of several trips he has made this month to preview the speech.
He will again tell lawmakers to not pursue any legislation regarding the nuclear negotiations with Tehran.
He will promote the new relations with Cuba and tell the American people that the U.S. has been effective in stopping Russia’s provocations in Ukraine as well as in conducting air strikes against IS in Iraq and Syria.
Two of the 53 Cuban prisoners released on good faith when Mr. Obama worked out his one-way deal have already been re-arrested for attending a meeting of an opposition group, Movement for a New Republic.
Insofar as ISIS is concerned, they have not lost any land and have actually continued to gain ground. The government focuses on ISIS not being able to win back Kobani but ISIS or IS has been growing in size and in land since that loss.
In conquered lands, ISIS forces children to donate blood for fighters; children are recruited as soldiers and suicide bombers; they’ve banned smoking, drinking, traditions; anyone caught with a camera to show what is going on will lose a limb or be killed; in areas where freedom of worship existed, there is none; streets are piled high with rubbish; prices are skyrocketing; et cetera.
One 16-year old was caught in Western-style jeans so they broke both his legs. All must follow Sharia law though most don’t believe in it.
There are no medical supplies
“The hell known as ISIS is what you read about in newspapers, while we live it every day,” RaqqAwi (pseudonym for a resident) said. “Freedom squares where we once stood and chanted against injustice and crimes committed by the Assad regime have turned into squares of execution where bodies of my countrymen hang on its wall.”
Oh, yes, Mr. Obama, we are a rollicking success.