Thanks, Blagueur!
For people AND THE MAINSTREAM MEDIA are this stupid.
A 63-year-old attorney based in Lafayette, La., who asked not to be named, told ABCNews.com that she plans to cut back on her business to get her annual income under the quarter million mark should the Obama tax plan be passed by Congress and become law.
“We are going to try to figure out how to make our income $249,999.00,” she said.
“We have to find a way out where we can make just what we need to just under the line so we can benefit from Obama’s tax plan,” she added. “Why kill yourself working if you’re going to give it all away to people who aren’t working as hard?”
Way to conduct research, reporter. MediaMatters responds by asking ABC News how good that crack tastes. Emphasis mine:
… But that isn’t actually how income tax works.
In reality, a family earning $255,000 will pay the higher tax rate only on its last $5,001 in income; the first $249,999 will continue to be taxed at the old rate. So intentionally lowering your income from $255,000 to $249,999 is counter-productive; it will result in a lower after-tax income.
My head. It hurts.
Wow. And I thought there would never be anyone who would prefer to make less money even if it meant paying higher taxes. She’ll never make a million a year that way! Bad capitalist! Hurting the economy!