If Joe the Plumber thinks he can't afford to buy the business under Obama's tax plan then he really needs to consult a good accountant. Obama's plan lowers taxes on the first $250,000 Joe makes. On the money over $250,000, Joe would pay 39% under Obama, instead of the 36% he now pays. That's 3% more taxes, not exactly a break-the-bank if you have already made $250,000 at a low rate. Plus, Obama will give him a tax credit for every job he creates, and tax credits for every employee that he provides health insurance for. Under Obama's plan, Joe's business will pay LESS TAX than it does now.
McCain's plan will tax the first $250,000 at a higher rate, then drop the taxes on anything over $250,000 by an unspecified amount. McCain's plan does not give him a tax credit for every job he creates. If he provides health care for his employees he will now have to deduct yet another tax from their paychecks, adding administrative burden to his company. Not to mention that Joe will have to pay this tax himself on his personal income, which amounts to an extra $4,200 a year he pays in taxes (35% of the $12,000 a typical policy costs). And if his company does not provide health care, he and his employees will pay out of pocket for their health care (average cost $12,000 per year), get a $5,000 tax credit under McCain, but be out of pocket at least $7,000 per year for their policy.
My impression is that Joe really should stick to plumbing and leave tax policy to Obama.
Furthermore, Joe the plumber says that Obama has a "very socialist view of taxes" This statement shows America how very uninformed Joe Wurzelbacher is. I would love to hear Joe define socialism and describe the tax policies of a socialist nation. He would start to sound like Sarah Palin on Katie Couric. Nor does he seem to recognize that all democracies socialize certain functions: police, fire fighting, military, roads, public schools, sewers, water. This is for the greater good and we all accept it. It does not make us socialists.
In his book Audacity of Hope, Obama writes at length about the FAILURE of SOCIALISM. He enthusiastically states that American democracy is the greatest political system on earth. Obama is not a socialist, and he does not admire socialism.
Joe the plumber should stick to plumbing and leave public policy decisions to people who actually know what they are talking about.
Oh, and maybe Joe and his boss should get plumbing licenses. Apparently neither of them is licensed, in violation of both state and county laws.
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