What are the odds Obama will continue to pit the rich against the poor with the defeat of the Millionaire Tax? I haven't seen any editorial in any paper, any charts, any commentator on either side (MSNBC/FOX/CNN) say what benefit this tax would bring except to make things "Fair". If it won't reduce the deficit, if it won't help create jobs, if it won't provide any benefit except fatten the wallets in Washington, what is the benefit? So, if trying to make things fair is what its all about, then how about an "Unfair Tax" that DOES reduce the deficit, add more jobs & incentives for growth. If its "Fair" to tax the rich, and it provides no benefit to the poor or stimulate job/economic growth, then maybe we should be "Unfair", and reduce food stamps, welfare, etc.. for those that are physically and mentally able to work. (Just making a point--don't get too excited that I'm for locking the poor or elderly away on some island to fend for themselves) I'm not a Republican, I'm not a Democrat, I guess I'm more of a Milton Friedman fan when it comes to economics & politics--wish there was someone who could fill that void after he passed on--Youtube him if you want common sense-- would have made a far more interesting election year. No sides, just common sense. With all the hypocritical comments that Obama has shown while in office versus when he was a candidate, I wonder if anyone is going to try to hold HIM accountable for his promises, positions and actions--without getting fired.

"The Buffett Rule is common sense. At a time when we have significant deficits to close and serious investments to make to strengthen our economy, we simply cannot afford to keep spending money on tax cuts that the wealthiest Americans don’t need and didn’t ask for." Pres. Obama

I'm not sure taxing the rich just for the sake of taxing makes ANY common sense. Its not earmarked for anything, there wasn't a mirrored reduction in middle class taxes so it doesn't help the middle class, its not going to reduce the deficit, and saying they didn't ask for it is silly--I got married, had kids, and got tax deductions. I didn't ask for those tax deductions, doesn't mean I don't want them. I'm not against having millionaires being in a higher tax bracket, but these aren't taxes on salaried income--they were already taxed on that income and what was left over they invested, this is the capital gains/returns on their investment so they're being taxed TWICE. Anyone thinking that the Federal government can do a better job at investing money than someone who invests in stocks, bonds, real estate, start up companies, venture capital investments, etc...PLEASE show me where they were successful in doing so? If it wasn't for millionaires investing their money, where does the money come from for new capital equipment, new software development of a start up company, new research money for a pharma company to further test/develop drugs to cure a disease, build a bigger plant, expand a workforce, the list goes on. Again, not against the rich being in a higher tax bracket, but to tax capital gains takes money from the private sector and puts it into the same government that just got caught spending over $800mm (GSA) on a 5 day PARTY in VEGAS! Sorry Mr. Obama, U GOTTA GO!

Last time I checked - I paid taxes on the capital gains on my investments - and I am middle class. Agree that government spending needs to be controlled.