“To reach a level that would be affected by Sen. Obama’s proposed tax increase, Mr. Smither said, a mom-and-pop plumbing company like Newell would have to clear $5 million in annual sales. [Joe’s company actually reports only $100,000 in sales.]

Even if Mr. Wurzelbacher reaped taxable income from his business of $280,000 a
year, he'd pay only about $900 more a year in taxes under Sen. Obama's plan, which
would raise the tax rate on the income between $250,000 and $280,000 to 36%
from 33%.

[...]

If Mr. Wurzelbacher earns the wages of a typical Ohio plumber, $40,600, and holds a $90,000 mortgage, he would see a TAX CUT (emphasis added) under Sen. Obama's plan of more than $1,000, compared with no tax reduction under Sen. McCain's.

If he succeeds in buying the plumbing business where he works, he could see even more tax benefits, including Sen. Obama's proposed elimination of capital-gains taxes for small-business investment, a 50% tax credit to purchase health insurance for employees and a $3,000 tax credit for every new hire over the next two years.”

Yep … facts are pesky things.

Consider too, what would have happened if we had privatized Social Security, further depleting its reserves and plowing people's retirement benefits into the stock market. We'd be bailing them out right now, or do we expect them to live in a cardboard box and eat cat food?

It's different now, in case you haven't noticed. (It's different in Detroit, even!!!)

By the way, Green Dreams, I don't like Social Security as it is today. Unlike so many of my critics, I know the program is a poor investment substitute, and much more importantly, unlike my critics, I know the program as it is, is unsustainable, and I've tried bringing that fact to people's attention, with either ignorance as a response or dishonest denial (and worse self-destructive behavior on the part of those critics). I've even advocated the kind of tax increase that is actually needed to sustain the program — assuming benefits won't be reduced, and in fact I'm on record as saying there likely will be a demand for increased benefits later once the Baby Boomers actually age en masse. (See “replacement ratio” and “insufficient” if researching.)

* McCain's problems include physical problems from his torture years ago. No escape from that, sadly.

(Is that a metaphor — “wrong way” — for what the voters think of the GOP. Could be.)

That is why most small business men end up cheating on their taxes by not paying themselves for their family member a salary. that way they get to avoid all of the payroll taxes. Of course, in the coming Obama Administration it will become even more advantageous to cheat on our taxes.

I have always suspect that the success of Korean owned cleaners or Vietnamese owned nail salons is partially built on cheating on taxes and the ability to mix personal expenses with living expenses.

Truer words have never been written here.

http://www.eisenstadtgroup.com/2008/10/15/joe-t...

Not sure if he's the “typical Republican”, but something tells me he wasn't an undecided.

Joe is probably old enough to remember that Clinton promised not to raise taxes (to fund his programs). I did not recall hearing the word “Parse” until Clinton became president.

Maybe Joe is just parsing what Senator Obama has said.

That Joe does not pay his taxes, hates Social Security, and has no plumbing license (probably doesn't want to spend the money) makes him the kind of guy who tries to get rich on the sly. I know people like this in my wife's family. And they are a vital part of the Republican base.

“Throw him under the bus”

“Not the ….I thought I knew”

“Hearbeat away from the presidency”

“Fire in the belly” (an oldie)

“Lipstick on a pig”

“Change we can believe in”

“Change we need”

“Ready to lead on day one”

“Answering the 3 am phone call”

“Not ready to lead”

“Country first”

Ugh….my head hurts, time to take a good long break from blogging.