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General News    H3'ed 1/17/15  

Obama's budget proposal will take aim at the wealthy

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Sheila Samples
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From commons.wikimedia.org/wiki/File:President_Barack_Obama,_2012_portrait_crop.jpg: President Barack Obama: President B, From Images
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President Obama plans to propose raising $320 billion over the next 10 years in new taxes targeting wealthy individuals and big financial institutions to pay for new programs designed to help lower- and middle-income families, senior administration officials said Saturday. In his State of the Union address Tuesday night, Obama will propose raising the capital gains and dividend tax rates to 28"-percent for high earners; imposing a fee on the liabilities of about 100 big financial institutions; and greatly broadening the amount of inherited money subject to taxes.
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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.

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