Can’t Fix Stupid:

In his column in the Tennessean, Cal Thomas implied that highly paid people would stop their income once it reaches $250,000 in order to avoid a tax increase.  Does he think Americans are really that stupid. Perhaps he has not bothered to figure out that first of all, if there is a reversal of the Bush tax cuts for every tax bracket under $250,000, the recipients of the most tax savings will be those whose Adjusted Gross Income is over the $250,000.  More important, however, is the reality that on every dollar over $250,000 the additional tax would be all of $.04 (for those who are mathematically challenged, that is four cents).  Putting that another way, if all of the Bush tax cuts were reinstated, millionaires and billionaires would receive after taxes, $.64 (sixty four cents) and if allowed to expire they would only receive $.60 (sixty cents).  This is probably why they are millionaires and billionaires as they all realize that walking away from four cents of additional taxes when paying that additional tax puts sixty more cents per dollar in their bank accounts.  While recent surveys have shown that there are citizens who do not realize the earth revolves around the sun and not the sun around the earth, even those people would probably pay four cents in order to get an additional sixty cents per dollar of income.  Perhaps it is only columnists like Cal Thomas who would refuse the additional dollars of income in order to avoid paying an additional four cents of taxes. But as said in the past, you can't fix stupid.