The Producers are going on strike

**ALS** · March 6th, 2009, 11:05 AM

The Wall Street Journal reveals that about 7% of American taxpayers - 3.8 million - fall into the bracket of making money in excess of $200,000. Their tax burden translates into 62% of all federal taxes received. Under the Obama tax plan, a good number of deductions are slated for phase out, while other sources of making money, such as capital gains and also dividend rates, would be taxed at a higher rate.

When Making Money is Penalized, Money-Makers Engage Tax Planners

While the DOW is plunging below 6800, those few who are still making money are not taking the threat of Obama taxes hunkering down. Instead, tax planning for the rich - or those purported to be - is a new cottage industry that has clever CPAs give their clients some startling advice.

ABC News quotes one successful attorney who unabashedly states that at this point the biggest goal is to get the reportable income below $249,999.00. The lawyer's rationale - why bother working hard to subsidize those who are hardly working - resonates with many who are making money and have not jumped on the Obama Administration bandwagon.

Another well to do business owner, a dentist, has determined that putting in less hours, seeing less patients, and taking off more time will get the reportable income just under the $250,000 mark. Sure, it also means laying off staff, but this is the nature of business. When making money is penalized, a decrease in productivity is tacitly rewarded.

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**Dredly** · March 6th, 2009, 11:54 AM

I don't think this is news to anyone... Playing the "Tax game" has been a way of life for millions of Americans for years. Both up high and down low.

Employee's take "perks" instead of raises to ensure they get a huge chunk of income tax returns back and can keep their benefits, money is stuck in 401k's and medical spending accounts to avoid the gov't getting their hands on it, and now this is just the next stage of controlling what is reported to the IRS.

If anyone DIDN'T see this coming then they are complete fucking morons. Also watch for a mass exodus from "high tax" states like NJ, NY, California, Mass... etc. People are going to start jumping ship, especially those that are either retired or able to telecommute... its nowhere near the end yet, its getting worse

**PocketProtector** · March 6th, 2009, 12:36 PM

Originally Posted by Dredly

I don't think this is news to anyone... Playing the "Tax game" has been a way of life for millions of Americans for years. Both up high and down low.

Employee's take "perks" instead of raises to ensure they get a huge chunk of income tax returns back and can keep their benefits, money is stuck in 401k's and medical spending accounts to avoid the gov't getting their hands on it, and now this is just the next stage of controlling what is reported to the IRS.

If anyone DIDN'T see this coming then they are complete fucking morons. Also watch for a mass exodus from "high tax" states like NJ, NY, California, Mass... etc. People are going to start jumping ship, especially those that are either retired or able to telecommute... its nowhere near the end yet, its getting worse

Ah come on socialism is motivating !!!

**adymond** · March 6th, 2009, 01:08 PM

Originally Posted by PocketProtector

Ah come on socialism is motivating !!!

It sure as hell is. It has motivated me to buy more guns, ammo, and mags as well as building out food stores.

It has also motivated me to go out and try to get on the ballot for public office.

**PocketProtector** · March 6th, 2009, 01:37 PM

Originally Posted by adymond

It sure as hell is. It has motivated me to buy more guns, ammo, and mags as well as building out food stores.

It has also motivated me to go out and try to get on the ballot for public office.

LOL TRUE

I'd like to see everyone go on strike on April 15th. That would "change" everything

**Morel42** · March 6th, 2009, 04:11 PM

Hahahaha.

Hahahaahaaha.

Oy.. Other then some rare cases... It's simply BS.. lol

**NineseveN** · March 6th, 2009, 04:40 PM

Getting to $249k isn't going to do a whole lot either from my understanding, it's more symbolic than anything. $250k is not some magic bracket where if you're a dollar under it, you'll be significantly better off.

I could be wrong, I am by no means an expert on the subject.