Can we stay poor enough to keep our own money? Yes we can!

Atlas is shrugging, and some folks aren’t taking it seriously:

[T]o focus keeping your income below a quarter million dollars is not going to have any spectacular magic for individual tax payers,” said Schatsky. “The difference between $249,999 and $251,000 will probably have zero tax impact.”

Schatsky adds that he is not aware of very many people who would rather take a pay cut than pay taxes on the income that falls into a bracket that is taxed more.

“The last time I offered someone $500,000 of additional income there was very little instance of people saying ‘ no thank you,'” he said.

Well, sure, Gary, you give me half a mill without any work on my part, and it’s not such an issue if Obama takes a big chunk of it. If I’m working for money, it’s the principle of the thing, not the extra outflow. Lincoln freed the slaves, they say, and turnabout isn’t fair play.

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One Response to Can we stay poor enough to keep our own money? Yes we can!

  1. newshutz says:

    Marginal analysis applies on the other side, too.

    What is the marginal utility of working that extra hour? Presumably, these professionals in question are working at the margin. If government lowers the return from that work, then one would expect people to not do that work.

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