(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.)

Comments

[john]

A Doctors Perspective

Just wanted to let those of you who think Obama is doing you a favor know what he is doing to me. I’m a cardiologist. I have spent the large majority of my life training to help people live longer, healthier lives. I never question, nor do any of my fellow physicians question, the ability of a patient in need to pay for our services. We help people because we want to make a difference in patient’s lives. When someone says “thanks, doc, for saving my life.” It’s through teary eyes and a humble heart that I thank God for the ability to take part in such a special moment.

If Obama wins the election, our lives will undoubtedly change for the worse. Here is an example of the devastating outcome of this election. If I were to bill $500,000 per year in charges (much more than most physicians), Obama would have me pay 50% federal taxes. Typically, about 50% of the billed charges are written off due to insurance adjustments and helping patients with no means of making payments. This means that of my $500,000, half is never seen. Another 50% of the remaining income goes to overhead (equipment costs and upkeep, nurses, medical assistants, billing department, etc). Were down to $125,000 prior to taxes. Suppose malpractice insurance is $25,000 per year. Now deduct 50% federal and 13% state tax and were left with ~$35,000. Property tax is another $15,000 yearly. Now were down to $20,000 yearly and if I want to purchase anything with the little money I have left, there will be another 8% sales tax. This means that I, who have spent the large majority of my life in training, time away from my wife and children, will have the prestige of a half million-dollar job and will actually bring home less than $20,000 per year.

Now I get to tell my family, for whom I have trained an entire lifetime to support, that we can’t afford to live in our house and the children’s college funds are no longer secure. My income and security would be the same if I had not gone to college, medical school, internship, residency, fellowship, and interventional training. I could have left high school, trained at a vocational school, and been in the same financial situation without the lofty expectations.

If you want equality, you’ll have it, equally unmotivated and uneducated citizens. So do I tell my babies to plan to lower their expectations because everyone in this country is “equal” and despite your ambitious pursuits, you will never amount to any more than anyone else, or do we as a country open our eyes any realize that people should be rewarded for their efforts and accomplishments?

I can tell you for sure that many doctors will quit their practices if Obama is elected. You will have the ability to see a primary provider for routine visits, which is already the case. (Remember, we already dismiss about half of our charges to help people without the means to pay.) If you need a specialist, the wait will be months. If you live to see the specialist, the quality of care will be awful. Most of the current specialists will not keep their practices and the standards of training will drop in order to fill the positions. If you want the guy that just gave you the Slurpee at the Quicky-mart to take your Cardiologists position, you are on the right track in voting for Obama.

BE SMART. Think about it. Make the right choice. God be with us.

[Howard]

Dr. "John",

I'm sure you're a fine physician, but you need to review your math and accounting--and not let political cliche's affect your reasoning.

BARACK OBAMA WILL HELP YOU--you specically-- based on what you have written.

First, you don't have a "half million dollar a year JOB" as you claim.

You RUN A BUSINESS that grosses a quarter of a million dollars (your charity care and write offs will normally not be construed income).

Your personal income from that business is $100,000 dollars (the "gross" $250,000 minus standard business expenses of $150,000). Which is actually a pretty good percentage return.

(You don't say whether YOU take a salary out of those expenses or only receive income as the owner--if so your personal income is greater.)

Assuming you file that business income on your personal return (as many small business owners do), and assuming you take at the very least the standard deduction allowed by the IRS, you will receive a TAX CUT under Obama's tax proposal.

In fact, you would save over $1400 under Obama's plan....and about $100 under McCain's.

(To get those numbers I used the tax calculator you can find here: Obama Tax Calculator I had to make some assumptions about your personal situation, so I may be off a little.

On the specific issue of health care, Obama proposes to make it easier for small businesses to offer health insurance to their employees--which likely will mean you won't have as many "non-pays" as you do right now. Heck, your income may go UP!

And since Obama is NOT suggesting any kind of "Canadian style" plan that would put all health care under one umbrella, all of your scrare words about doctors quitting the biz make no sense.

As you said, Dr. John, BE SMART, think about it...but GET YOUR FACTS RIGHT FIRST.

[kc]

You have to HELP yourself... The government is NOT the answer... Hand outs is NOT the answer... Marxism is NOT the answer... Socialism, share the wealth is NOT the answer...

Its good, old-fashioned hard work, self responsibility, education, patience, hard work, common sense, hard work, life, liberty, god, family, country