I think you will find that people may start doing work for $600 and do the rest for cash. Remember, this government is wanting to tax the rich. That’s especially anyone making over $250,000. When the rich run out of money, the government will drop it down to $200,000. When those people run out of money, the government will drop it down to $150,000......and so on and so on. Everyone will have their taxes raised until we are totally under their control.
My prediction all along......Jan 1, 2011 the gov will let the Bush tax expire on the top two rates. Others stay same. Why? Well the budget will be out before elections. Jan 1, 2012...The threshold will drop to 75K for singles 150,000 for married. Jan 1, 2013 5% VAT tax on all goods except food.
Im a genius.