In his third State of the Union address, President Obama outlined a handful economic proposals, as well as an “economic blueprint” for the country grounded in giving all Americans a “fair shot.” Below are ten of the speech’s key highlights and proposals.
Call to impose the so-called “Buffett rule”
Tax reform should follow the Buffett Rule. If you make more than $1 million a year, you should not pay less than 30 percent in taxes. And my Republican friend Tom Coburn is right: Washington should stop subsidizing millionaires. In fact, if you’re earning a million dollars a year, you shouldn’t get special tax subsidies or deductions. On the other hand, if you make under $250,000 a year, like 98 percent of American families, your taxes shouldn’t go up. You’re the ones struggling with rising costs and stagnant wages. You’re the ones who need relief.” (Click on the player above to watch Obama’s remarks on the “Buffet Rule”
Call for extension of mandatory school attendance age
“When students are not allowed to drop out, they do better. So tonight, I am proposing that every state — every state — requires that all students stay in high school until they graduate or turn 18.”