Here’s my shot: Anyone may at any time declare a portion of their income to be “cliff income,” pay 40% percent tax on it to the feds and 20% to the state, and t

Here’s my shot: Anyone may at any time declare a portion of their income to be “cliff income,” pay 40% percent tax on it to the feds and 20% to the state, and then keep the last 40% to do with as you please. All govt and private programs that measure income are required to disregard cliff income.