The President wants to tax the rich  so that they pay their “fair share.”

The problem I believe is that many people no longer think $250,000 a year is rich.  The cost of living in NYC or D.C. or San Francisco, with minimum housing at $500k, is just really overwhelming.  A decent house (or a postage stamp in San Francisco for $500k), 2 cars, student loan debt, or tuition, and what’s left?

Plus, it seems that all the proposed tax increases on the “rich” will only run the government for 8 days. That does nothing to tackle the $16 trillion debt.

Just saying… you can stir up the spirit of envy and use emotion to paint the mildly successful as the “evil rich who aren’t paying their fair share.” But that doesn’t solve the deficit problem.

Comparison of inflation of college tuition and fees, medical costs, and cost of living from 1978 to 2008 (Photo credit: Wikipedia)