Kinda late here, but I just read through this thread and had a few thoughts.
First, I will see a tax increase under Obama's plan. That is OK with me. I'm doing fine and there are infrastructure needs that need to be addressed. I can only hope that the massive deficit spending bill, once passed, will actually help the economy.
I agree wholeheartedly with Tfarny. His arguments have been very cogent, IMHO. It would also appear that GoDrex and I agree. I found the Ron Paul clip spot on. Superlizard commented that rich people employ, and he is partly correct. That said, when you have the erosion of the middle class that we currently have, consumption goes down. If consumption goes down, the rich people are no longer rich. Then they can't employ, then consumption goes down further, and you have a vicious cycle.
Supply-side economics cannot exist without demand-side.