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The government taxes income, not wealth.

This is the crux of the issue. The "rich" we need to protect are those who are negatively impacted by higher marginal rates. In other words, those who operate a small business and pay taxes on the related income, those who actively invest, or those who produce and earn a salary for their efforts. The "rich" who have large trust funds and have accumulated vast amounts of wealth are likely insulated from tax increases as they have armies of accountants and lawyers putting money in trusts and other vehicles to avoid taxation. So again, the producers get screwed and are asked to pay more to subsidize those who don't produce (the wealthy and the poor).

I hope this post isn't construed as class warfare. I'd prefer eveyone paid as little in taxes as possible. But the voting habits of trust funders and the mega rich don't indicate to me that the producers continue to support Obama. I don't know anyone who operates a business (and I know lots of them) that support him or his policies.