"We are in a connected society now. Can you tax just the rich people's side of the water bucket? Can you take money out of that? We've just seen Wall Street melt down and everybody's homes lose value."
Let me remind you of something, Alex: The meltdown you are talking about happened after Republicans managed to lower taxes on the rich to their lowest point since...1929, the last time we had a meltdown after Republicans slashed taxes on the rich.
No meltdowns under Roosevelt, Truman, Eisenhower, Kennedy, Nixon, Ford, Carter, Clinton, when taxes on the rich were far higher. (I leave Reagan out because he is significantly responsible for recreating the same economic environment that caused the Depression.) Meltdowns just seem to happen whenever Republicans succeed in absolving the rich of their tax burden. Maybe there is a lesson to be learned there.
Not one our leaders are likely to learn, unfortunately. They've now been held back and had to repeat that class twice, and they don't seem to have figured it out yet.