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Democrats Keep Tax-Raising Focus on Top 2% of Households

The Democrats’ plan for U.S. tax policy comes down to two simple, politically popular statements: Raise taxes on the rich. Protect tax breaks for everyone else.

The approach championed by President Barack Obama would make the tax code more progressive and generate more than $2 trillion for the government over the next decade, compared with extending current rates, according to the Congressional Budget Office. Turning those ideas into law won’t be easy, because of the potential economic harm from higher taxes and the fact that Obama’s second-term tax agenda is largely composed of changes he hasn’t been able to get through Congress.