State of the Union? All About Income Inequality

Tonight is President Obama's 6th State of the Union address. The President is expected to unveil and aggressive agenda for his final two years in office.. including his efforts to confront income inequality. President Obama suggests raising taxes on the wealthy by $320 billion over the next 10 years. It would increase capital gains taxes, raise the low tax rates paid by the rich, and cut allowances on inheritance taxes. It would also cut taxes for the middle and lower classes.

Republicans say the plan in a non-starter. Some accuse the President of waging class warfare. The Wall Street Journal quotes Congressman Charles Boustany (R., La.), a member of the tax-writing Ways and Means Committee, "This is just another poke in the eye at Republicans, rather than showing a willingness to cooperate."

Expect this to be a major theme tonight. It's also expected to be a preview of some of the biggest issues in the 2016 presidential election. Potential GOP candidates Jeb Bush and Mitt Romney have also talked about the need to address income inequality. Hillary Clinton has also sounded populist themes recently.

The charity Oxfam says in a new study that the world's richest 1% will soon control half of all global wealth.

We'll also hear about Cuba.. where President Obama has overhauled U.S. policy. Freed American detainee Alan Gross will be a guest at SOTU of the First Lady.

Republican Senator Jodi Ernst of Iowa will give the GOP response to the SOTU.

Four suspects will appear before an investigating judge today in France. They are suspected of having links to the terror attacks in France that left 17 dead. Police are asking for heavier weapons there in light of the terrorism.

Germany raided 13 homes in Berlin and other German cities in connection with arrests made last week of suspected Islamic terrorists.

Australian police have raised their terror alert levels in response to international terror.

The Japanese won't say if they'll pay a $200 million ransom being demanded by ISIS terrorists holding 2 Japanese citizens hostage. The pair are show kneeling in the now-infamous orange jumpsuits and being threatened with decapitation.

Jury selection begins today in the murder trial of James Holmes.. accused of killing a dozen people and wounding another 50 in the theater massacre in Aurora, CO in 2012.

Stocks had a recently rare good day yesterday. The major indexes all down around 2% so far this year.Today we get earnings from Netflix, Morgan Stanley, Johnson & Johnson, Delta, and Haliburton among others.

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Clint Henderson

Clint Henderson is the Executive Producer for “Happening Now” and an avid traveler. Follow his adventures on Twitter, ClintPHenderson, and Instagram, clintpage1.