Upper-Income Taxpayers Look for Ways to Sidestep Obama Tax-Hike Plan

Obama's budget proposal calls for $989 billion in new taxes over the next 10 years, most of which will be earned from increased taxes on individuals who make more than $200,000 and from families who make more than $250,000.

The expiration of the Bush administration's tax cuts at the end of 2010 would garner an estimated $338 billion, $179 billion would come from reducing the size of some itemized deductions, such as mortgage interest and charitible donations, for higher-income taxpayers and $118 billion would be brought in from a hike in the capital gains tax. The remaining $353 billion would come from taxes on businesses.

"We have to find a way out where we can make just what we need to just under the line so we can benefit from Obama's tax plan," said a 63-year-old attorney who asked not to be named because she's proud of herself. "Why kill yourself working if you're going to give it all away to people who aren't working as hard?"