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  • Obama's Tax Hikes: "De-motivating and Demoralizing"

    ABC News has a great story on how upper-income taxpayers are already planning to cut back work to avoid President Barack Obama’s inevitable tax hike:

    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?”

    Dr. Sharon Poczatek, who runs her own dental practice in Boulder, Colo., said that she too is trying to figure out ways to get out of paying the taxes proposed in Obama’s plan.

    “I’ve put thought into how to get under $250,000,” said Poczatek. “It would mean working fewer days which means having fewer employees, seeing fewer patients and taking time off.”

    “Generally it means being less productive,” she said.

    “The motivation for a lot of people like me – dentists, entrepreneurs, lawyers – is that the more you work the more money you make,” said Poczatek. “But if I’m going to be working just to give it back to the government — it’s de-motivating and demoralizing.”

    Posted in Ongoing Priorities [slideshow_deploy]

    8 Responses to Obama's Tax Hikes: "De-motivating and Demoralizing"

    1. ra,ohio says:

      Whats to keep him from lowering the limit to 200k?

      This target was all over the place during the campaign if you remember.

    2. Franklin's Lock says:

      This simply exemplifies what higher taxes will do to our entire economy. Everyone will put less into the economy if they will be taxed for it. Then, the economy will recede further. This is basic economic that any Conservative knows and Liberal ignores, denies, or simply cannot understand.

      http://franklinslocke.blogspot.com/

    3. Ozzy6900, CT says:

      Why earn more money indeed? I do not blame anyone earning over $250k to do the same thing. I firmly believe that this is unfair taxation. This is exactly what Our Forefathers were trying to escape and why there was that little "skirmish" called the American Revolution!

    4. D.R., Orlando, FL says:

      I've heard too many small business owners (people who employ 25 to 100 other people) talking about closing their businesses and retiring in another country with their money. They see no reason why they should continue to work 80 hour weeks so someone else doesn't have to work 40 hour weeks. I can't say I blame them. I'd probably do the same thing. Why work your tail off when the only one to be rewarded for your hard work are those that don't want to work.

    5. Pingback: Jason’s Blog » Obama’s Tax Hikes: “De-motivating and Demoralizing”

    6. D. Vernon, NC says:

      Nay,nay, the agents will contact you, force you to produce ,penalties will be severe, how dare you try to undermine the "Regime"

    7. lolwow says:

      The stupidity of other people never ceases to amaze. Let me explain it, for the ignorant reporter who wrote the article, the ignorant people who are its subject, and the ignorant people who have commented thus far – none of whom seem to understand how the U.S. tax system works.

      Marginal or graduated tax systems like the one in the U.S. means only the money earned over a certain amount — $250,000 in the case of Obama's proposal — will be taxed at an increased percentage.

      The first $250,000 of income will be taxed *exactly the same* whether you make over $249,999.99 or not. Imagine you earn $300,000. Only the income which makes up the difference between the two ($50,000) is taxed at the higher rate. Giving up all of $50,000 to avoid tax on that $50,000 alone makes no sense whatsoever.

      How can someone so dumb even make that much money?

    8. Barb -mn says:

      Any way it goes, Obama wins. He doesn't build people up, he brings them down.

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