Todd Henderson is proof that being rich can make you clueless to others’ suffering
Could you live well earning a yearly salary of $250,000?
If you are one of the 94-95% of Americans making under $100,000, let’s assume you could do quite well with $250,000.
Todd Henderson is struggling with a combined family income of over $250,000. And this is no dummy, Henderson is a law professor at the University of Chicago.
But Henderson had the gall to blog about the struggles of getting by with $250,000 in salary, and complaining about being subjected to the Bush tax cuts expiring.
Now, Henderson’s expertise may not be economics — it’s law — but let’s help him out.
— The Bush tax cuts — ones that benefited Henderson’s household for 10 years — were scheduled to expire. President Barack Obama did your family a huge favor; Obama could have called to repeal the Bush tax cuts when he took office in 2009. Unfortunately for 96-97% of us, Obama didn’t do this.
The tax cuts weren’t paid for, adding huge amounts to the deficit.
— Henderson should know that the tax rates would be adjusted back to the days of President Clinton, when people in Henderson’s bracket did quite nicely.
— Oh, and one more thing: the tax rates only apply to the money beyond $250,000. That is, if the Henderson family makes $260,000, only $10,000 would be subjected to the increased tax rate.
Henderson added injury to insult by implying that he could let go the Mexican immigrant who cuts his lawn or the Polish immigrant who cleans his house.
People in Henderson’s position did very well over the last 10 years, costing this country a lot of money. Of course, an unjustified war, one of two unfunded wars, didn’t help along with a score of serious economic problems. And now, these people are being asked to make a small sacrifice — a very small sacrifice — and you can hear the whining without opening the window.
Henderson stands by his position, showing his deaf ears by labeling himself “at the lower end of the high-income bracket.” More than $250,000 makes you rich in America in 2010, not at the lower end of anything.
A direct quote from Henderson lends us some insight as to the reaction to his blog entries.
“I was a fool, and I didn’t anticipate how this kind of thing could happen.”
Well, the first part of that is true.