MAYBE THE TREASURY DEPT. SHOULD MAKE A PUBLIC SERVICE AD

(h/t Atrios)

A few years ago I was talking with a co-worker about tax hikes and he was under the impression that letting the Bush tax cuts lapse on those making over $200 or $250 K means that ALL their income would be taxed at the higher rates.  I also recall Mrs. Instapundit and some other stooges saying they would stop working each year after they had reached $200K so they wouldn't be liable to the higher rate.   Both remarks are ignorant but even USA Today perpetuates this gross misunderstanding.