Saturday, October 18, 2008

Joe the Plumber

Well, his 15 minutes are about up, so it's time for me to write about it. I'll be brief!

Joe, the plumber that wants to buy the business he's worked at for about 12 years asked Barack Obama if he would pay more taxes under Obama's plan. Obama asked back how much Joe's business would make. The reply was "somewhere between $250,000.00 and $280,000.00."

An amount suspiciously on the cusp of the answer being yes. I'll say it again before I let it go: suspiciously.

What Barack didn't ask, nor has any of the media which no longer surprises me, was if that amount was the gross or net of his business. If gross, expenses would be pulled from that amount and his final profit is what would be taxed. The net would likely be below $250,000.00 and would therefore be taxed at a rate lower than currently imposed.

If the $250-280K was his net profit, I say let me buy a business like that. I'll mortgage the house for collateral. Small businesses don't kick off that kind of profit in the first year after being purchased; if they did the going rate would be about three times gross which, in this case, would be a purchase price of somewhere between $1.5 million and $3 million. I think this entire paragraph not to be the case of Joe's business decision.

If, however, a business could be purchased that kicked off $250K per year to the new owner I'd say yes, let them pay a little more to the public coffers, they achieved because America offers great opportunities and it's their responsibility to give a bit back. We are a selfish lot, us humans, and greed is rampant among us. The framers of our constitution learned this quickly as told by Eric Lane and Michael Oreskes in today's L.A. Times.

4 Comments:

Blogger Ted said...

OBAMA + DEM CONG = USA RIP

10/18/2008 4:14 PM  
Blogger Christian Democrat said...

Actually, the only hope for America is a single party in control of all three branches of our government. Bipartisanship is fecal matter used to lull idiots into believing it as a possibility.

Even since 2006 the Republicans have blocked worthy legislation whenever possible.

I am no great fan of Nancy Pelosi, and find Harry Reid to be a bore if well intentioned. Let's let the Dems have control for four years and then decide if they are worthy or not to continue with that control.

It cannot be worse than the past eight years!

10/20/2008 8:59 AM  
Anonymous JimD said...

You should be suspicious.

The Republican Party can not win on issues. In fact, if the American people ever decide to wake up and see reality, you'd have a lot of Republicans wearing Clinton tee-shirts.

They can only win by cheating and dirty tricks.

10/22/2008 10:42 AM  
Blogger lipsa herry said...

Nice info, Thanks for share..Plumber Alabaster, Al

8/08/2013 4:24 AM  

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