This isn't new, but looking through my stats I noticed most of you missed this episode. So with election day coming soon, I thought it would be a good time to re-post it. Enjoy.
Seriously, when has the risk of slipping into a higher tax bracket ever kept anyone from trying to get rich? Certainly didn't under Reagan when the top tax rate was 50%, or under Nixon when it was 70%, or under Eisenhower when it was 91%. Ask any tea party person if we were better off in the 50's, and I'll bet they'd say "You betcha!"
If the Bush tax cuts for the wealthy expire, the top rate jumps from 35% all the way up to 39.5%. At that rate, I guess the wealthy will say, "Screw it, why even try?"