"Joe the Plumber" must be a greedy SOB.

[Arrowhead2k1]

Give me a break. The guy is about to buy a business which makes an income of $250,000 and he has the nerve to whine about Obama's tax plan?! What about Joe the freaking Janitor? It's not like Obama is going to put Joe the Plumber into a cardboard box.

McCain is a typical Rethug. Always looking out for the wealthy. Makes me sick.

[KathieG]

1. Yeah...someone posted that he said he was going to be making 280K and he

was concerned about the extra $900 of taxes he would pay on his extra 30K of income. Poor thing. :eyes:

[daninthemoon]

2. I'm wiling to suspend any judgement on Joe. I don't know exactly

how his conversation with Obama went down, but I'm sure it will be all over the TV by tomorrow, and I expect him to show up on Regis and whatnot. I hope he endorses Obama.

[Clio the Leo]

6. Link to the video

http://blogs.abcnews.com/politicalpunch/2008/10/spread-the-weal.html

[Eric J in MN]

11. Thanks.

Apparently, his current income wasn't part of the conversation:

================
"I'm getting ready to buy a company that makes 250 to 280 thousand dollars a year," Wurzelbacher said. "Your new tax plan is going to tax me more, isn't it?"

Obama said, "First off, you would get a 50% tax credit so you'd get a tax cut for your healthcare costs….. if your revenue is above 250 – then from 250 down, your taxes are going to stay the same. It is true that from 250 up – from 250 – 300 or so, so for that additional amount, you’d go from 36 to 39%, which is what it was under Bill Clinton. And the reason why we’re doing that is because 95% of small businesses make less than 250. So what I want to do is give them a tax cut. I want to give all these folks who are bus drivers, teachers, auto workers who make less, I want to give them a tax cut. And so what we’re doing is, we are saying that folks who make more than 250 that that marginal amount above 250 – they’re gonna be taxed at a 39 instead of a 36% rate.”

================

There is still the ambiguity over whether the company has $250,000/year in revenue or in profits.

[daninthemoon]

16. Thank you so much. He never says "spread the wealth".

I'm still not mad at Joe. He has legitamet concerns, that I hope Obama assailed. Obama seemed to have perfectly reasonable responses to me. I still hope to hear Joe endorse Obama. It's sure to come up.

[high density]

7. Here's the video

http://blogs.abcnews.com/politicalpunch/2008/10/spread-the-weal.html

Oops, beat to the punch

[Clio the Leo]

3. That was def. the impression I got....

... watching him last night.

"Wahhh! BUt I want to buy a new truck!!! Wahhhh!"

[Eric J in MN]

4. I'm still not clear on Joe the Plumber's situation.

Is it that he currently has an income over $250,000?

Is it that his income is less, but the company he works for (which he'd like to buy) has profits which exceed $250,000/year?

[Jeff In Milwaukee]

8. And the business isn't incorporated?

Something doesn't smell right. Either McCain is grossly mistaken (like THAT could possibly happen) or Joe the Plumber is totally blowing smoke.

[vanderBeth]

10. McCain just started making up shit.

[Eric J in MN]

12. How does whether it's incorporated matter? NT

NT

[Jeff In Milwaukee]

17. Different tax treatment

If you're a sole proprietor, you pay taxes on your business income at the highest individual rate. If you're incorporated, you pay at the lower corporate rate.

[Betsy Ross]

5. $250K taxable profit.

After deductions for business expenses, salaries, etc. I believe.

[1corona4u]

13. But, most business owners separate the two...

they pay themselves/employees, and the business has it's own expenses/profit. 'Joe' makes it sound as if the whole 250K is HIS income, when it's not.(unless he is the sole proprietor/sole employee, then it IS his income less expenses/deductions) I'm sure if the company grosses 250K, he should only be paying himself about 1/2 of the profit, to leave some working capital for the business. That's what I do anyway....hope that made sense...

[daninthemoon]

18. I was wondering abouty some of the details of his personal tax

vs business tax liabilitys. Obama said he couldn't comment without seeing his exactsituation, but it occured to me that 250,000 means very different things depending on how you define it: profit,personal income, capital...

[1corona4u]

19. I think 'Joe' is just a mccain supporter, for all the reasons we know...

and it has nothing to do with taxes....he was clearly not going to vote for Obama, and frankly, it's an OUTRAGE that mccrap, and the media is giving him his 15 minutes of fame. He's ONE person, out of 300 MILLION people in the USA.

[Fleshdancer]

9. He must be one of those Americans that wouldn't pick lettuce for $50/hr

I always wondered who McCain was talking about. Now I know.

[TlalocW]

14. Plus, he's a shitty plumber

Call Frank instead. Frank's honest.

TlalocW

[meow mix]

15. i hope the asshole goes broke

what a pos

[Liberalatus]

20. Geesh..

This guy is going to make an EXTRA $250,000 more a year. Even if his taxes are 90%, that is STILL and extra $25,000 in his pocket. The nerve of these people. Even if his taxes were only 10%, I bet he would still complain because he has to shell out $25,000 to the government. No amount of taxes is okay with these people, so there is no point in arguing with them.

I once asked a guy how what tax rate he said is acceptable. He said about 5-8%. I said, okay, so if you start making 10 million a year, you are okay with giving $800,000 to the government, and he said "No, that's too much. They will just waste it anyway. It's better spent if I have control over it, not them."