Quote:
Originally Posted by UGAalum94
Do you all see people claiming that or is that a hypothetical for the thread?
What I see is a few people, who may already be in the 1% depending on what we're using for the cut off, say in essence "if I can't expect the same return on my efforts beyond a certain point because of increasing taxes, I'm not going to continue at 100% beyond that point."
There'd be some people at the cusp of the cut-off in that hypothetical who would really take more money home in the 25% tax section, but, as I understand taxes, the scenario is really far removed from the reality of how things work and would be a ridiculous claim to make.
On the other hand, it doesn't seem ridiculous that a small business owner could look at the cost and benefits of a slightly reduced workload and decide to cut back. And it also doesn't seem ridiculous that the business owner's decision could have a negative effect on other people because he or she cuts down on spending as a result.
But again, I think only folks in the 1% already are typically able to control their work and compensation this way.
(It's funny to me in a pathetic way: I suppose there could be a ton of people who manage to live in a close to debt free and low expense way who have discretionary income to spare and enormous work related flexibility who could do this at a lower income level. I just have a hard time imagining it.)
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No they wouldn't. You won't take home more money in a lower tax bracket. They are being taxed the same on the income up to that 25% tax bracket level. The income over is then taxed at a higher level. You CANNOT make more money by making less. This is the fallacy. I'm in the 1% already and know people in the 1% so I'll tell you that no one is going to stop making money so they can stop paying taxes. They may find a way to get out of paying taxes, but no one is going to stop making money. Period.
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