A post for all lovers of 'wealthy idiots'

9 Mar

Have you ever met someone so selfish, so delusional, that they actually wish they could halt their annual salary after a certain threshold so they wouldn’t have to give more money to the big, dumb, useless, irresponsible dick named Government? Who are so pathetically small-brained that they forget who pays for the roads they drive on, their kids’ education, the wars they support, the cleanliness of the tap water they drink, the police who keep them safe? No? Well, lest you forget there are people like this that exist, I’m going to reprint an entire post at The Intel for your sheer delight.

Let’s say you’re barely one of what President Obama considers America’s wealthy, pulling in just over $250,000 a year. Perhaps you were dismayed upon hearing that Obama intends to raise the rates on your tax bracket to finance health-care reform, among other things. So, because you naturally want to hold on to as much money as possible, you begin to concoct an ingenious scheme to reduce your income to just below $250,000 a year. After hours of crunching the numbers — which clients to drop, which days to take off work — you’ve found a way to stave off those higher taxes. “Ha-ha,” you may chortle to yourself, or a nearby loved one. “My superior intellect has served me well once again.” This is, apparently, the strategy that some people are actually taking, according to ABC News. But as a flabbergasted Jonathan Chait explains, this just isn’t how taxes work.

“A tax increase affects the marginal dollar that a person gains. That’s [sic] means only every dollar over $250,000 is taxed at a higher rate. Obama is not proposing a tax system whereby somebody who goes from $249,999 to $250,000 suddenly becomes poorer. Nobody has ever enacted a tax hike like that in the history of the United States.”

Whoops.

[Full story here.] I hereby deem this the second dumbest policy outlook in all the land, behind only the people who think anyone who supports the welfare system does so out of sympathy for the poor, forgetting the obvious truth that if you cut welfare, crime increases and even more taxpayer money is spent.

I’ll quit now by echoing what we’re all thinking: God bless these wealthy idiots. You keep us young.

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3 Responses to “A post for all lovers of 'wealthy idiots'”

  1. NIH March 10, 2009 at 11:24 am #

    Let’s say you have 10 clients per year, and you make $25,000 per client. So you make $250,000 per year. After taxes, you take home $15,000 per client. You have decided that $15,000 is worth your time and effort.

    Now you are considering taking on an 11th client. If you were to take home $15,000, you would do it. But because of the new tax code, you will only take home $10,000. You decide that $10,000 is not worth your additional time and effort, so you decide not to take on the 11th client. The economy loses productivity.

    Nobody in the story is claiming that “somebody who goes from $249,999 to $250,000 suddenly becomes poorer.” It looks to me like they are saying they only want to work hard enough to make $250,000. It’s not worth it to them to work harder for a lower profit rate – they would rather do something else.

    The lady who said, “Why kill yourself working if you’re going to give it all away to people who aren’t working as hard?” is a douche-bag. And she is exagerrating. But I think The Plank author is also exagerrating the point.

    Ah, eff it. When do the Twins start again?

  2. B. March 10, 2009 at 12:28 pm #

    NIH–

    I totally see your point in principle. I’d like to think that the capitalistic spirit of the well-off would be motivation enough to earn money, but who knows.

    My thought is the biggest hurdle to people being dumb/selfish enough to want to stop making money due to a miniscule tax hike is to begin educating them on where taxes are usually spent. Seems the majority of undereducated Republicans believe that a good amount of their deductions are going into the pockets of the poor and lazy, which is laughably untrue. A very small slice goes to social programs, and I think the White House needs to have a PR campaign to educate citizens on the general details of tax money allocation.

    Would ideally help minimize the amount of “I don’t want my hard-earned money going to the Welfare system!” jackasses. Not saying the wealthy would support higher taxes (I’m not even sure I do), but my guess is they’d be a bit less strident in their opposition.

  3. NIH March 10, 2009 at 1:09 pm #

    B-

    I agree with you.

    I just think this guy from The Plank does not help things by misinterpreting or distorting the quotes within the original story and turning it into: “Look at these stupid rich people who are stupid!” They’re not neccessarily stupid, just selfish.

    This story doesn’t help anyone understand the justifications for Obama’s proposals. The author twists words, and it just drives everyone further into their foxholes.

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