ばかとけむりはたかいところへのぼる
Composed of
idiot; moron; trivial matter; folly; stupid; foolish
smoke; fumes
high; tall; expensive; high-priced; high (level); above average (in degree, quality, etc.)
thereupon; shortly thereafter
to ascend; to go up; to ascend (as a natural process, e.g. the Sun); to rise; to go to (the capital); to be promoted; to add up to