Obama's plan of "raising taxes on the rich" would only generate about $82B annually, and would not cut the federal deficit below $1T.
In effect, it really does nothing to close the deficit, or keep the U.S. solvent long-term.
Obama's dirty secret is, the only way to keep the U.S. solvent long-term, while paying for his unprecedented government expansion, is to DRASTICALLY increase taxes on the middle-class.
That means going back to the Clinton era tax rates for EVERYONE, and closing ALL the income tax deductions, including the mortgage interest rate deduction.
Of course, if he were to actually be forced to pay for his government expansion, he never would have been re-elected. So, we are stuck increasing debt 7.5% (of GDP) every year, with only 1% GDP growth.
It doesn't take a rocket scientist to determine that our current path is not sustainable.