Jan. 25 (Bloomberg) -- President Barack Obama is proposing a tax package aimed at appealing to middle-income Americans, including an increased tax credit for child care and an expansion of tax credits to match retirement savings. The proposals are intended to fit within the main themes -- the economy, jobs and tackling the deficit -- the president plans to sound in his State of the Union address on Jan. 27, according to an administration statement. âThe middle class has been under assault for a long time,â Obama said today as he and Vice President Joe Biden presented the plan in Washington. âWe need to reverse the overall erosion in middle-class security.â Obama is seeking to recover political momentum lost when Republican Scott Brown defeated the Democratic candidate in a special election to fill the U.S. Senate seat from Massachusetts that had been held by the late Edward Kennedy. Obama has tapped David Plouffe, the manager of his presidential campaign, to help Democrats in the House, Senate and gubernatorial elections set for November. With the national unemployment rate hovering at 10 percent, the tax initiatives are aimed at broad segments of voters, including parents of children, the elderly, people saving for retirement and parents with students in college. The recommendation stems from 11 hearings held around the nation in the past year, according to a White House fact sheet. http://www.bloomberg.com/apps/news?pid=20601087&sid=axdxWmnA1X0g&pos=8 Is this a banker bonus financed tax break ?
Enough with the BS tax *CREDITS* Bambi. Pass real pro-growth tax reform, that will have long term substantive effects on the economy in a positive way. Taxing the people and then giving it back in little pieces according to political optics is BS!
and since when is the middle class cutoff $85k?? What, are you upper class if your household makes $86k? that's pathetic. That's a fire alarm installer and the wife is a substitute teacher. Upper class my buttocks. Once again I get to pay for everyone else's shit, and I just get the bill. Singapore, I'm one step closer...