|
It is typical example of someone making a statement and the press screwing it up...
Also, just go to show Joe Plumber had no clue, the business makes that much but he would not, and most likely the guy selling it is pushing up the numbers to sell it for more.
Also what else he has no clue about is if he did own the business and had a good accountant his take home pay would be very low and the business would kick out some sort of dividend to him.
I have friend who owns his business, he makes about $400K a year, however, his pay check is $30k so he only pays Fed, State, Local, SS and Medicare on $30K and pays capital gains on the $370K since the business pays quarterly dividends on any extra money the business earns. So under Obama plan his taxes will not go up.
So the only people who are going to get nailed by his proposal are those with a take home check of $250K in a year. He claims those people are about 5% of the population, however the last time I checked it only about 2% of the population who have income greater then $250K.
Hell, Steve Jobs of Apple computer will not see a tax increase since his pay is $1, He is making all his income off stock grants and if he does it right he only pays capital gains of 20%. However I think Obama plans to raise capital gains taxes again.
|