Obama Will Focus on Wealth Inequality

The proposal likely to attract the most attention is Obama's plan to raise the capital-gains tax for Americans earning $500,000 or more from 23.8 to 28 percent. In addition, the president wants to close a loophole allowing Americans to dodge paying taxes on inherited money. These two proposals—alongside a separate plan to tax companies with assets over $50 billion—are expected to raise $320 billion in revenue of the next decade. John Hames shared with you:   Obama Will Focus on Wealth Inequality The Atlantic - French economist and academic Thomas Piketty, poses in his book-lined office at the French School for Advanced Studies in the Social Sciences (EHESS), in Paris May 12, 2014. (Charles Platiau/Reuters) When President Obama addresses the nation in the State of the Union address on Tuesday, he is likely to boast about the health of the economy, which last year created jobs at its fastest clip since 1999. But the president isn't about to let the economy go on cruise control. Obama is also expected to announce a series of proposals aimed at reducing inequality, which has emerged as a major economic concern among American liberals. Available on the App Store.

John Hames

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