If he gets it passed, it will most certainly backfire. All the people who shout hoorah for raising taxes on those making over $1M per year are blind to their own futures. Not long ago, there was a tax placed on anyone making over $40K in California. It was a very high amount, so no one cared-it was taxing the rich...problem is, this number doesn't go up with inflation, it's fixed. That means in 20 years when most people are making over $1M per year, those shouting for the higher taxes will then be paying them. Making 6-figures in a year now is almost the poverty level in southern California. Most 2-income households are making around $250K it seems...not long from now, you'll see the most affluent parts of the country like SCal or NCal making $1M per year and barely get by...stupid policies...Who's going to pay for all of this? Not us, not our children...inflation...oh wait-that means everyone...