Obama’s State of the Union speech to include $320B tax hike proposal President wants capital gains rate, bank fees raised

The Washington Times reports:

Escalating his battle with congressional Republicans, President Obama will propose $320 billion in higher taxes in his State of the Union address, mostly by raising the rate on capital gains and closing tax loopholes for wealthier families, senior administration officials said Saturday.

Mr. Obama also will call on lawmakers to impose a new fee on big banks with more than $50 billion in assets to discourage risky financial investments, a holdover from the Wall Street crisis that is sure to appeal to the president’s liberal base.

With Strongman Obama, it's always a good time to raise taxes.