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The competition for dumbest news story of day/week/month is way too competitive to ever declare a definitive winner.  But Jon Chait sure has a contender today, a piece by ABC’s Emily Friedman that’s based on the idea that the tax rate on your entire income will jump under Obama’s proposed tax reform if your income exceeds $250,000.  Supposedly this makes it worthwhile to get your income a few pennies under the limit, and supposedly lots of people are working on this.  Needless to say, though, the tax code doesn’t work this way.  Only the income above $250,000 will be taxed at the higher rate:

The article [] quotes a financial advisor who explains the way that tax brackets rates work, but then quotes a right-wing business professor and the subjects of her article fulminating about class warfare. Pretty clearly the reporter started off on her mistaken premise, found some subjects who shared her ignorance, and then came across a financial advisor who gently corrected her. But, instead of nixing the collosally uninformed article, or writing a different kind of article (“Rich Morons Decreasing Own Income Due To Lack of Tax Code Knowledge”) she instead plowed ahead with her initial premise.

Friedman’s piece is a train wreck.  What happened to ABC News’ editors on this one?

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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