President Obama will be delivering the yearly State of the Union Address on Tuesday night not only to Americans, but to a Congress controlled by Republicans in both houses.
Nevertheless, Obama has been signaling that he intends to introduce the idea of increasing taxes on the wealthiest Americans in order to pay for tax cuts for the nation’s middle class. Obama would like to see an increase in capital gains tax on the highest tax bracket earners, and ending tax breaks on inheritances.
It does not seem likely that the Senate and House of Representatives, both controlled by Republican majorities for the first time since Obama took office, will be amenable to increased taxes on the wealthy. The most likely scenario is that, except for Obama’s liberal Democratic base of supporters, most lawmakers will simply ignore the suggestion of tax hikes for the rich.
White House senior adviser Dan Pfeiffer said Sunday on CBS’s “Face the Nation” that the president did not expect the lawmakers to agree with the Obama on everything.
“Are they going to agree on everything? Absolutely not. I think we should have a debate in this country between middle class economics and trickle-down economics and see if we can come to an agreement on the things we do agree on,” Pfeiffer said.