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Obama seeking tax increases on wealthy to help middle class - Yahoo News

CORALVILLE COURIER EDITOR'S NOTE: Redistributing wealth is NOT a proper role of government.

WASHINGTON (AP) -- President Barack Obama will call for increasing taxes on the wealthiest Americans by raising the capital gains rate and eliminating a tax break on inheritances, then using the revenue to fund new tax credits and other cost-saving measures for the middle class.

The president's proposals are likely to be cheered by the Democratic Party's liberal base, but the tax increases are all but certain to be non-starters with the new Republican majority on Capitol Hill.

via news.yahoo.com

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