Quote from insider trading:
http://news.yahoo.com/s/ap/20080926/ap_on_el_pr/election_tax_burden
Online tool estimates taxes under McCain, Obama
For example, the model indicates that a couple with two children earning $100,000 with $20,000 in itemized deductions would have a net tax bill for 2009 of $9,555 under McCain and $9,002 under Obama. That compares with a $9,505 tax bill for this couple under current law, the electiontaxes.com site says. In another example, a single taxpayer making $50,000 and using the standard deduction would pay $6,867 under McCain and $6,325 under Obama, compared with $6,827 under current law
Run an income of 2 or 3 million dollars and see the tax bill will rise about $700,000. It is those monies Obama is using to give tax rebates to lower income people.
No one making that income will pay 700K more without a fight.
People in that income bracket are able to defer and reduce tax burdens as then need to.
As usual when tax rates go up revenue go down. With this policy Obama will not have revenue his thinks.

