Posted on 10/16/2008 7:44:56 AM PDT by AT7Saluki
Janet Chittock has two words for Joe the Plumber: “Tax him.”
“My gosh, $250,000 a year, of course I think his taxes should go up,” she said. “He can afford it.”
Joe the Plumber is the Toledo man who was held up as a litmus test during the third presidential debate tonight by both candidates.
Sen. McCain said if Joe has worked hard all his life to afford to buy a business that can bring him in that kind of money he deserves to keep as much of as he can. Sen. Obama said his taxes should go up to help alleviate the burden on people earning less – a position Joe would have found himself in a few years earlier.
Mrs. Chittock, 70, has been studying each candidate for weeks and has yet to reach a decision about for whom she will vote — though she is leaning toward Sen. McCain. Still, the question about what should happen to Joe the Plumber was an easy call for her.
The most Mrs. Chittock and her late husband ever earned together in one year was about $50,000. That a higher percentage of Joe’s wages should be taxed was as plain to her as the mushrooms on the pizza she was eating.
“You can only spend so much,” she said.
(Excerpt) Read more at blogs.wsj.com ...
Goodbye America. It was great will it lasted.
Sorry forefathers. We failed you.
NO, THIS IS THE DEMOCRAT PARTY OF TODAY....
Self-centered, short-sighted, and classless.
_____________________________________________________
+10000000
This is what we're up against folks.
Hopefully we’re finally done with this whole “greatest generation” myth.
And don’t forget the cost of worker’s comp insurance, licensing, vehicle maintenance, etc. AND...I noticed that the number has already dropped. Last night Obama said 200,000, not 250,000.
QUOTATION: “Well, Doctor, what have we got — a Republic or a Monarchy?”
“A Republic, if you can keep it.” -- Benjamin Franklin
Verdict: We can't and we haven't.
Welcome to the USSA (United Socialist States of America)
A thirty thousand foot view, a subchapter s is how most small businesses incorporate. It provides some legal protections as a corporation, but the taxes are looked at as income tax. For example, you owned Ouderkirk’s coffee shop and register it as a subchapter s. All your gross income, before payroll, would be reported as personal income, even if 99% went right back into the business. If you had payroll employees versus contract employees, you could deduct their pay prior to net, but expenses such as FICA tax liability comes out of your net after payroll.
So, let’s say your coffee shop grosses $300,000 per year. You have two employees earning $25k each, so your net after payroll is $250,000. You report the $250,000 as personal income. But, you still have to pay things like rent, electricity, FICA on your payroll employees, etc. You may have a final personal net income of only $40k.
Now, imagine if Obama only looks at your gross of $250k and raises your taxes by $15k per year. Your other expenses don’t change, so, you either will take a lower personal net income of $25k per year, or, you would fire one of your employees.
You are right on. Janet is obvious a stone nut and does not even have an idea how hard it is to have a small business nowadays. It's these kinds of liberals that vote crap and then wonder what happened. Wait until the Hollywierd types get hit with Obama's plan to take more of the top off. Watch them scream.
I think of Reagan during this campaign. He would have run circles around Dear Leader. This campaign reminds me how important communication skills are to this political battle. Bush has been brought down almost exclusively do to this weakness, and McCain hit it out of the park occasionally cannot seem to hammer these points home to win the argument.
Janet is 70 yrs. old. She’s got her Social Security, so to hell with this guy and his family, and his employees. Janet sounds like one of those pushy “seniors” who always have their hand out for the freebies. Politicians love them for exactly that reason.
How many of you work for a POOR person???
You’re so right.
“Hopefully we’re finally done with this whole “greatest generation” myth.”
Oh brother.
May I have your permission to alter this. NO, THIS IS THE COMMUNISTS (SOCIALISTS)PARTY OF TODAY....
Remember...to a democrat brain-dead and dead know no difference. They can still vote.
"SPEADING THE WEALTH AROUND"--is just what socialists do!!
Just like fish swim, horses run, and spiders bite,,,
IT IS WHAT THEY DO!!
They do not CREATE new wealth--- they just spread it around.
THAT is what McCain should have said last night.
Thanks for that explanation of how subchapter s works.
Ah, America, where the plumbers are “rich.”
The part that seems left out of this story is that Joe is in the process of buying the rest of the business. How’s he financing that? That will cost him.
He’s not making $250K today as it stands.
Oh, and Jane, Janet, the “rich” already pay plenty more than you. I see you want the “rich” to be Santa Claus for their employees while they pay even more than they currently do in taxes. F you.
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