WMBD/WYZZ/RNS - WASHINGTON, DC -- Democratic presidential candidate Barack Obama has unveiled a tax-cut plan.
  
The "Washington Times" reports that in a speech at the Washington, DC-based Brookings Institution, Obama proposed tax cuts of up to $85 billion for 150-million Americans by raising the taxes on investors and those with the highest incomes.
  
Obama's plan would eliminate income taxes for senior citizens who make less than $50,000 a year and

provide a tax credit of up to 500-dollars per person or one-thousand dollars per family.
  
Obama proposed elimination of tax breaks for people making over $250,000 and increasing taxes on capital gains and dividends from the current 15% to as high as 28%.    
  
(Copyright 2007 by Newsroom Solutions/Regional News Service)