Would Taxing the Rich Help?

Should President Obama propose taxing the rich in his speech Wednesday?

This article points out two problems. First, the income for the top 2% is volatile and cannot be counted in to generate the anticipated revenue. Second, there just isn't enough money in the top 2% to make a significant impact on the debt.

Feels like we are kind of stuck. We have benefits that nobody wants to cut, and we can't just tax other people to raise enough revenue.

So that means they have to come after the middle class with tax hikes. Not a popular option in front of an election year, with gas prices above $4 a gallon, unemployment stubbornly high, wages flat, etc.