Number of the Day

$249,999.00. The number to which a total fucking idiot attorney interviewed by a total fucking idiot reporter wants to reduce her salary to avoid Obama's proposed tax increase on those making $250k or more.

As J.Chait correctly notes, "the tax code doesn't work that way. A tax increase affects the marginal dollar that a person gains. That's means only every dollar over $250,000 is taxed at a higher rate. Obama is not proposing a tax system whereby somebody who goes from $249,999 to $250,000 suddenly becomes poorer. Nobody has ever enacted a tax hike like that in the history of the United States."
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