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.