The Corner

Re: I Don’t Want To Pay For It (Either)

Amen, brother Jonah.  I don’t want to pay for this stuff either.  I was sympathetic to Ben Stein’s argument during GW Bush that we should have an income tax surcharge on the wealthy to pay for the war, and I’d have gladly paid such a surtax for that cause.  But not this explosion of government.

Options: I’ve started buying municipal bonds, which I never thought I’d do until. . . well, never, actually.  Good ones right now are an attractive buy on the merits, but the added bonus of sealing off the income from Obama makes it all the nicer.  But my bigger idea is to go all Randian and literally go on strike (and I’ve never really been much of a Rand fan, by the way–Whittaker Chambers had her down right).  I’m going to start converting income opportunities into more leisure by deliberately reducing my income.  Already between federal and state income taxes, self-employment taxes, the AMT, and phased-out dependent deductions as income rises, I’m at a marginal rate of about 50% on my last dollars earned from writing or anything else.  So it will pay to keep below Obama’s high income threshold.  I suspect a lot of self-employed people will make similar calculations and adjustments, and the revenue yield will be far below what Obama’s people project.  Welcome to Europe.

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