“Will we accept an economy where only a few of us do spectacularly well? Or will we commit ourselves to an economy that generates rising incomes and chances for everyone who makes the effort?” Obama will ask US citizens as he unveils measures to help the middle class.
Obama will promote “middle-class economics” that will ensure everyone has a level playing field and gets their fair cut from the economy. “Middle-class economics works. Expanding opportunity works. And these policies will continue to work, as long as politics don’t get in the way,” Obama will tell the nation.
Obama talks of income inequality.Wealth inequality has widened along racial,ethnic lines since end of Great Recession http://t.co/96we5PAZAW— Pew Research Center (@pewresearch) January 21, 2015
According to a White House press release Obama plans to announce an initiative to increase taxes on capital gains for the rich, close a loophole in the estate tax, and propose a fee on large financial firms. The tax proposal will be paired with tax relief for working middle class Americans and a child tax credit.