If the extra wealth of wealthy Americans were, as Obama seems to believe, simply stuffed into mattresses, increasing taxes on it would only mean a little less wealth for the wealthy and lumpier mattresses.
HOWEVER, the half the equation that Obama doesn't understand is that the money soon to be confiscated (under the principle of fairness) would actually immediately find its way back into the economy in ways that make it possible for ordinary Americans to borrow for housing, cars, consumables, borrow for college, etc.
Some of it would otherwise find its way to companies large and small that need it to grow employment, buy equipment, put products on the shelves, and, yes, even meet the payroll.
So if you are worried about your employment or fear that a slow down in the economy might hurt you in some other way...thank Obama's taxes on the wealthy!
It is called Communism.