That's not an unreal threat. I'm self employed, and I plan to make just enough to get by on in the future. Why should I work myself into exhaustion only to have the Federal Government come and take it away? I can work like a maniac, but make no more money than I would have if I had worked at a more leisurely pace and kept more of it.
I think a lot of people actually are going to look at it that way.
Copy that, only in my case the business is tanking so we're not spending.