Taxes: It took four years, but Obama got what he wanted in terms of eliminating tax cuts for the wealthiest Americans. Sort of.
Since Obama took office, he's used his State of the Union addresses to call for an end to the Bush tax cuts for the rich. He said the nation can't afford to make the tax break permanent for the wealthiest 2%, or those making more than $250,000.
On January 1, as part of the fiscal cliff deal, Congress approved raising the tax rate on individuals making more than $400,000 and couples making more than $450,000. But they are the wealthiest 0.7% of Americans, not the top 2%.
Obama also couldn't make good on a plea to keep a tax cut in place for working Americans. Working folks got four years of tax breaks under Obama, initially with the Making Work Pay credit in 2009 and 2010 and subsequently with the payroll tax cut. But their good fortune was only temporary.