Reply #52: Joe said "a company that makes 200.. about 250, 200 and ah 70, 80 thousand a year"

[mcg]

Joe the plumber said "I'm getting read to buy a company that makes 200.. about 250, 200 and ah 70, 80 thousand a year.".

Joe is not sure how much money this business makes and he is getting ready to buy it?

If the company were to make more than 250,000 a year, say 280,000 a year, this would not mean the owner would be taxed on that amount. Even if he were to be taxed on 280,000 a year, a 3% tax increase (39% - 36%) on $30,000 (280,000 - 250,000) would only be $900.

$900.

That would not make or break him, or have any effect on his business plans. We are talking about personal income, on the money he would make off others' work. If he didn't want to pay that little bit of extra tax, he could always pay the employees more and limit his salary to a measly $250,000 a year.

I am supposed to feel sorry for someone making $280,000 a year having to pay a whopping $900 more in taxes? Cry me a river. I would love to make half that amount, many people would love to make 1/4 of that or less.

No, I feel compassion for the many Americans who are homeless, who go to bed hungry, who have to choose between good food and health care, or between good food and filling up the gas tank.

Someone making $280,000 a year is not your average Joe.