[lbo-talk] Joe the Plumber, $250k+ business owner, as average American?

[Sean Andrews]

On Fri, Oct 17, 2008 at 7:35 AM, B. <docile_body at yahoo.com> wrote:
> Yeah, Joe the (non-)Plumber might decide to throw in the towel and try NOT to be rich if he has to pay 39% of taxes over 250K [as Obama proposes], instead of the current 36% rate.
>
> This happens all the time, folks deciding to quit trying to be rich and to go give up and go onto welfare, when they see higher taxes levied on folks making over a quarter a million dollars.
>
> It's a tragedy. Imagine all the millionaires we'd have in the US if this weren't the case. :(
>
> -B.

t'would be even sadder if they weren't able to find ample offshore
accounts and shell corporations to funnel their money into to avoid
taxes altogether.

Maybe he could shoot for being a hedge fund manager.  I think they
have an effective rate of something like 15%, though I don't
understand how only they are able to pull this off.

s