(Photo credit: Free Colorado)
There’s a new report on ABCNews.com about how upper-income business owners are looking for ways to reduce their earnings to deny the government their tax dollars. This is exactly what Dr. Helen was talking about in October and on our PJTV panel this weekend– the producers of this country choosing to “Go Galt.” It’s the sentiment you saw in the “Atlas Will Shrug” sign at the Denver anti-pork rally two weeks ago and at many of the Tea Party protests. And it’s the sentiment you see in the rise of Ayn Rand novel sales.
Tax hikes have consequences. Incentives matter. Only self-deluded wealth redistributors living in la-la-land believe otherwise.
President Barack Obama’s tax proposal which promises to increase taxes for those families with incomes of $250,000 or more — has some Americans brainstorming ways to decrease their pay, even if it’s just by a dollar.
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.
So far, Obama’s tax plan is being looked at skeptically by both Democrats and Republicans and therefore may not pass at all.
“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?”
The nationwide Tax Day Tea Party is April 15. I’ve just signed on as a sponsor. Make your voices heard.