Greg Ip is disappointed with it:
[Obama's tax] would require that people who make more than $1m pay at least the same rate that middle-income taxpayers do. … The millionaire’s tax, depending on how it was implemented, would almost certainly make the tax code less efficient while raising little additional revenue. The same aim could be achieved simply by taxing capital gains and dividends at ordinary income rates, as they were before Bill Clinton and George Bush lowered the rates.
Coupled with a corporate-tax reform that lowered the top corporate rate, such a proposal would both make the system more progressive and more efficient. That Mr Obama has yet to publicly propose such a thing is a telling sign that he is at present more interested in the optics than the substance of his proposals.
The AP suggests that few high-income taxpayers would get hit with the tax. Chuck Marr differs.
The Dish 