Obama’s middle-class appeal falls flat with Arkansas delegation
WASHINGTON — With the nation no longer in a “vicious recession,” President Barack Obama called for major tax changes for the benefit of middle class families struggling with stagnant wages as they try to put their children through college and save for retirement.
“At this moment — with a growing economy, shrinking deficits, bustling industry, and booming energy production – we have risen from recession freer to write our own future than any other nation on Earth. It’s now up to us to choose who we want to be over the next 15 years, and for decades to come,” Obama said.
At the heart of his proposal is a tax reform proposal that was recently unveiled ahead of the State of the Union Address that would increase taxes on the wealthy and large corporations to pay for reductions in taxes paid by middle class families — providing annual tax credits of: $500 for families where both parents work, $3,000 for child care for children under age 5, and up to $2,500 toward completing a college degree.