The capital gains tax is on the profit from the sale of assets held for over a year. The capital gains tax rate was actually lowered to enhance tax revenue as much as anything else. The lower rate incentivized the sale of assets which produced income to be taxed. Thus it was good for the government's income. The turn over of assets also greatly stimulates the economy, as it frees up capital to obtain more productive assets.

Obama was told of these facts during the election and said he didn't care he just wanted to be more fair. It seems unfair that a soldier may lose a limb fighting for our country, but cutting off everyone's limbs won't make it fairer.

Raising the tax rate on the sale of assets, especially under the present conditions, will drastically reduce such sales. Government income will be reduced causing an increase in the deficit. The economy will retract ensuring another recession. The Buffet Rule is not fair, it is suicide.