What people first need to realize is that the uber wealthy control the politicians, including the president, and manipulate our system to gain electoral outcomes. It's been going on since at least the 1898 presidential race. We are borrowing trillions from the Federal Reserve which is not owned nor controlled by Congress or the Constitution. It is a private central authority owned by huge, global corporate banks and always has been. President Obama, in concert with Treasury's head, wants to make our debt ceiling unlimited. That is incredibly dangerous for now and future generations. We are at around 70% debt/GDP and much higher is the tipping point. I believe President Obama, and the Congressional DSA liberal progressives, want the entire Bush tax cuts to expire. They want middle class Americans to pay 'their fair share' too; as their ultimate goal is wealth redistribution. Anyway, federal income taxes are a smoke screen. Add up the increased federal taxes on cell phone bills, utilities, gasoline, cigarettes, airline tickets, etc. These have all been covertly implemented and rising over the past few years. If the taxes go up on those making $250K, or $1mm per year, the big money will move overseas as they are the venture capitalists. Personally, we have seen food prices in our household rise 25% in the past year; coupled with increased state and federal charges impacting all of our purchases. We simply skip taking extra vacations, or buying certain food items, or holding onto appliances or cars longer, or any other cost-cutting measures we must employ. This leads to reduced consumption in all households, which the tax increases will exacerbate, and we will fall into even higher unemployment and government dependency. One final note: the politicians don't really care because most, if not all, have their money in off shore investment accounts. That I would stake my life on. They enjoy tax shelters, insider trading deals, expense accounts and live like kings and queens on the backs of middle class U.S.A. Our government has a massive spending addiction and no tax increase will impede our final fiscal cliff...the destruction of our dollar. Not enough money to cover the debt.