Tuesday, October 15, 2013

People are already advised to reduce their income

One of the myths about explicit and implicit taxes is that Americans have no clue what's going on, and cannot react to tax rates of which they are purportedly ignorant. That's wrong on many levels, one of which that less than two weeks after the Obamacare launch, personal finance columnists began advising readers to watch their income and consider cutting it in order to enhance their subsidy.

You might attempt to reconcile these two by assuming that nobody reads such columnists, except that the one column I linked has been shared thousands of times on facebook and I assume read by tens of thousands.

HT Tom Daula

1 comment:

J McLane said...

It's hard to keep up with all of the economic distortions created by Obamacare. It's enough to make one wonder if single-payer would have been a less destructive outcome. At this point I'd settle for a reasonably large direct non-means tested subsidy and replace just about every thing else.