Right Hooks

SOTU Will Push Income Redistribution

Jan. 19, 2015

Barack Obama will use his State of the Union Address tomorrow to call on the Republican Congress to pass his progressive tax policies. It will not be a speech to update the legislative body on the state of the union, but to embarrass Republicans before the nation. Obama will promise tax plans that redistribute “free” stuff, calling on Congress to hike taxes so the government rakes in an extra $320 billion over 10 years and can then “give” the middle class $175 billion. Top White House aide Dan Pfeiffer said, “I think we should have a debate in this country between middle-class economics and trickle-down economics. I think, in divided government, each side should lay out their agenda, what they think is in the best interest of the country.” Liberals miss that “trickle-down economics” – their pejorative term for Reaganomics – is based on people keeping their own hard-earned income. Obama proposes increasing the capital gains and dividend tax rate to 28%, placing a limit on how much money Americans can save for retirement – and even taxing college saving plans to pay for his “free” community college boondoggle. So much for encouraging responsible personal finance. It’s a shameful policy rooted in envy. More…

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