JRV, I've seen that argument, and been fucking around here so much I have no idea what the other side is saying about it. But I'll take an uninformed stab, and then go do some research.

My best guess is that the additional single percentage increase in taxes will be almost in the noise to the $250k+ households, compared to what is happening to the values of their investments and real estate holdings. I think the additional single digit increase in taxation will be more than offset by the gains from the resultant economic boost, but maybe not, that's the gamble the country took when they elected Obama. Let's hope it works, but if it doesn't, it won't be taxes that wipe out the upper income folks, it will be the evaporation of white collar jobs, etc.

Now I go see if I'm close to guessing the lefty response to this.

-Chuck, Vegetarian fanboy