One thing I have learned about Taxes is that is does no good to tax if those taxed can't afford it. That is why income taxes are supperior to other forms of tax, namely because the money seems to be there, as opposed to property taxes where the money is often tied up. However the term "blood out of a turnip" really holds here for those paying no income taxes (even though they pay other taxes)-does it make sense to tax these people and push them onto other forms of welfare (food stamps, etc.)?
That "Fair share" is something to be determined politically and it appears we are heading to something similar to prior to Bush tax cuts (for the wealthy). Also, that increase is only on amounts greater than some to be determined amount-say $250k for families.
Whatever the amount determined, those folks will probably not skip a beat economically (other than scale down their future yachts).
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