Thursday, October 16, 2008
Joe's Pipe Dreams
Joe the plumber is worried that Obama is going to tax his dreams. Joe doesn't make the $250,000 plus a year where Obama's tax increase would kick in, and he doesn't own the plumbing business he's trying to buy that allegedly has a taxable net of $250k plus a year. He doesn't even have a plumbers license nor is the plumbing business he aspires to buy licensed. Yet he's worrying about a 3% tax increase on money he isn't making from a business he doesn't own. If he's smart, he'll save the extra money he gets from Obama's tax break on his actual income now and use it towards a down payment on his dream business.