(sigh)
I can't even build up a head of good ol' anger any more.
John McCain's coninued intentional lies about the Obama tax plan will just keep on coming--despite they are factualy and provably wrong.
At each of the last 2 debates McCain raged that "My Friends, Obama wants to raise your taxes". Then Obama clearly and calmly outlines his plan--which means a small tax hike ONLY for those earning above $250,000 in adjusted personal income.
And McCain completely ignores the facts just presented right to his face, shrugs and repeats 'My Friends, Obama wants to raise your taxes".
Of course McCain probably WAS talking to his friends--who are the ultra-rich. Just remember he's NOT TALKING TO MOST OF US.
And.....he's NOT talking to "Joe The Plumber"....the man McCain made the centerpiece of debate #3 and who we now know will likely be HELPED by Obama's tax plan, not hurt.
Only 2% of American small business owners will reach the threshold for an Obama income tax increase. It is highly unlikely Joe will be among them.
It's not clear from the exchange just what Joe means when he says the business "makes" up to $280,000 a year. Is he talking about total revenue? Profits? That's an important point here and it's one that Obama and Joe the Plumber never discussed. Based on Obama's proposals and current tax policy, for Joe's taxes to rise Joe would have to "make" $250,000 in net profit, after deducting all his expenses: his employees' pay, his supplies, his truck, his fuel costs, and other legitimate business expenses. He'd have to be an extremely successful plumber.
In response to McCain's statements during the debate, Obama said only 2 percent of small businesses would be subject to the tax.
It seems likely that Obama is right, according to data and an analysis from the experts at the Tax Policy Center.
But if Joes DOES make that kind of personal profit, then the McCain plan will give Joe about $775 in saving over Obama's plan. Which, on a $250,000+ income would seem to be a small amount to pay to the country that provided the platform for your success.
(At some other time, I'll talk about the variety of tax breaks, incentives, and governmental assistance --like SBA loans--that are available for small businesses. Things those "nasty taxes" actualy make possible. As I had to remind my friend Hoppy Kercheval and DC pundit Chris Stirewalt on a recent Talkline show---among the 3 of us, THE DEMOCRAT (me) was the only one who actually OWNS a small business.)