During his State of the Union address this week, President Obama proposed raising the capital gains tax from 20% to 28%, which was the same rate under President Ronald Reagan.
However, the Baltimore Sun notes that Republicans oppose hiking the capital gains tax because it mainly affects the wealthiest, whom the GOP have renamed "job creators."
Republicans are longing for the 15% percent capital gains tax under President Bush, even though that tax cut and other cuts didn't produce a massive amount of jobs (as promised), but rather resulted in the "decade with the slowest average annual growth since World War II," noted The New York Times.
Now, singer and songwriting legend Bob Dylan is calling out the wealthiest job creators to finally start creating jobs.
Dylan recently told AARP magazine:
"People have to create jobs, and these big billionaires are the ones who can do it. We don’t see that happening. We see crime and inner cities exploding with people who have nothing to do, turning to drink and drugs. They could all have work created for them by all these hotshot billionaires. For sure that would create lot of happiness. Now, I’m not saying they have to — I’m not talking about communism — but what do they do with their money? Do they use it in virtuous ways?"
"...Because there are a lot of things that are wrong in America, and especially in the inner cities, that they could solve. Those are dangerous grounds, and they don’t have to be. There are good people there, but they’ve been oppressed by lack of work. Those people can all be working at something. These multibillionaires can create industries right here in America. But no one can tell them what to do. God’s got to lead them."
On Feb. 6, Dylan will be honored as MusiCares Person of the Year for 2015. According to Rolling Stone, the Black Keys, Bruce Springsteen, Jack White, Eddie Vedder, Jackson Browne, Alanis Morissette, Taj Mahal, Aaron Neville, Susan Tedeschi and Derek Trucks will perform covers of classic Dylan songs.