President Barack Obama’s State of the Union address may have been lacking in big ideas, but there was no shortage of policy proposals in the president’s annual speech. Washington Post writer Ezra Klein points out five of these policies we should be looking out for in 2012 and beyond.
1. The Buffett Tax
It wasn’t by coincidence that Warren Buffett’s secretary was a member of the audience for the SOTU address. Buffett has famously said that it is unfair that his secretary pays a higher percentage tax rate than he does. In effect, Obama proposed making the effective tax rate for millionaires at least 30%, by wiping out non-charitable tax breaks and deductions. This was one of the few points that Indiana Gov. Mitch Daniels agreed with when giving the Republican rebuttal, saying we should “stop sending the wealthy benefits they do not need, and stop providing them so many tax preferences that distort our economy.” Read