Obama's Tax Policy

The Wall Street Journal has the best article I have seen so far about Barack Obama's tax proposals (it even has a graph!).  It explains why the policies would discourage people from working extra hours to earn more.  Generally the policies would discourage lower income working families from working hard to advance.  Because they would begin to lose their tax breaks as their income rose above $40,000 a year, there would be no reason to strive for higher wages.