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Most of the men who make up our laws are Lawyers who were not good enough to make it in their profession.

Here is a good example.

http://en.wikipedia.org/wiki/Steny_Hoyer

Obama's rant that $250,000 is enough money for anyone fails to grasp that many of those reporting incomes like that are small business owners who file their business taxes on their individual returns. In no way do they actually see that kind of money as real income as if they were salaried at that level. Thus taxing them more directly hurts small businesses who are the largest employers in the country.

His old class warfare soak the rich with new taxes because they can afford it rhetoric also shows his ignorance of basic economics. Like everyone else, the rich spend but more importantly save and invest significantly more of their after tax income. Taxing the rich more means that ordinary workers in high end restaurants, luxury car dealers, high end hotels and resorts and other businesses that cater to the upper income will see their jobs cut. Without the rich saving and investing their money the entire economy suffers. Lastly the rich aren't stupid and will not willingly hand over large amounts of their money to new taxes and will seek out every possible loophole in our byzantine tax code or simply take their money to another more tax friendly country.