Leaving aside other complaints, on a nuts-and-bolts level, what is your tax law-definition of the 'pursuit of living'? Does this mean I'm only taxed on what I s

Leaving aside other complaints, on a nuts-and-bolts level, what is your tax law-definition of the 'pursuit of living'? Does this mean I'm only taxed on what I save? (time to pursue another solid gold toilet to... live on!) Or do the prince and the pauper alike get to deduct the same 'pursuit of living' credit and pay tax any remainder?