Harry Reid proposed a tax increase of 5% on incomes over $1 million per year, to be implemented in 2012. He says that this will pay for the President's Jobs Act.
The White House proposed to implement this tax in 2013 and, in an obvious attempt to appease people in favor of immediate tax increases on the rich (incidentally, a great percentage of Americans), the White House proposed to increase the raised to 5.6%.
This increase seems sensible; however, the postponement of the implementation is problematic as the Democratic Party may not be in the White House in 2013, and there might be nobody to defend the increase. It may also be perceived by some to be either (1) a concession to the White House's rich friends or, (2) politicking.
Implement taxation fairness NOW!