The worst article of the week

By Conor Clarke

Jon Chait and Kevin Drum have already piled on, but this report from ABC News seems worthy of special opprobrium. The article documents actual, breathing, real-life rich individuals who plan on reducing their income to less than $250,000 in an attempt to avoid Obama's proposed tax increases on those making more than $250,000. A representative quote from one of these conniving rascals:

"We are going to try to figure out how to make our income $249,999.00." [...] "Why kill yourself working if you're going to give it all away to people who aren't working as hard?"

This would be really brilliant, if only we didn't have a tax system with marginal rates. But we do, so these people are just really stupid.

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