Mitch McConnell

The student debt crisis isn't just an issue for fresh-faced Gen Y'ers. Thanks in part to the Great Recession, an older cadre is finding itself buried under the weight of billions of dollars in unserviceable loans.

Earlier this week, Rep. John Fleming (R-La.) complained that he only netted $600,000 in 2010, and thus couldn't afford to pay higher taxes: "Class warfare never created a job," said Fleming. Former Obama administration official Elizabeth Warren, now running for the Senate, is ready with the counter-argument.

Before President Obama outlined his strategy Monday for America's millionaires to shoulder more of the tax burden, The Price of Fame asked show business types at the recent Toronto International Film Festival this burning question: Should celebrities and other wealthy people pay more in taxes?

President Barack Obama, who has disagreed with Republican Congress members on whether to extend George W. Bush-era tax cuts for wealthier Americans beyond this year, said Tuesday that he will work with U.S. senators on finding some sort of tax-policy agreement by the end of the year.

Senate Republicans will likely block President Barack Obama's plan to effectively increase taxes for the wealthiest U.S. citizens by allowing a tax cut enacted by George W. Bush's administration to expire at year end.

Republican senators blocked a vote on a bill to provide aid for small businesses, using procedural tactics to stymie President Obama's election-year agenda. Each side accused the other of playing politics.