Tag Archives: sideshow

Joe the Plumber Fatigue – One Day Out

16 Oct

1. Joe the Plumber’s real name is Sam, and he’s not a licensed plumber.

2. The average licensed journeyman plumber in the United States earns $42,000 per year. Tax cuts for plumbers, says Obama.

3. If our friendly Ohio plumber did break the threshold and earn $250,000 per year, his tax burden would increase by about $600 per year.

The real story is the answer Obama tried to give to Joe. Let’s say that Joe did make as much as $270,000. As Obama noted, he’d be paying an additional 3% marginal tax. That’s 3% on the excess $20,000 — not the entire $270,000. Therefore, his additional tax would be…(patience while the magic adding machine does it’s thing)….(Voila!)… $600. If he made as much as $300,000, his additional tax liability under Obama would be a ‘crushing’ $1,500.

Would anyone decline the opportunity to earn an additional $50,000, because a tax hike would raise their tax liability an additional $1,500 — from a tax of $18,000 on that excess income to a tax of $19,500?

Would you avoid growing your business because it might raise your taxes by .5%?

4. Naturally, all of this nonsense is purely academic, as Mr. Plumber isn’t fond of paying taxes he owes to begin with. He’s got two tax liens, both for more than $1,000, one of which remains outstanding. Don’t complain to me about paying more fucking taxes until you pay the ones you already owe, just like the rest of us have to, asswipe.