We hear a lot about Joe the Plumber these days. According to Obama, Joe the Plumber does not make $250,000, so his "Tax the shit out of the rich people" plan won't affect Joe the Plumber. Well I disagree.
Assuming Joe the Plumber works alone or works for someone else, yes, this may be the case. However, let's think about this realistically. I will use my brother-in-law's business as an example. So instead of Joe the Plumber, we have Joe the Tree Trimmer.
My BIL makes over $1 million per year. Sounds awesome, doesn't it? Oh, wait. He has 12 employees. Let's say they average about $45,000 per year. That's $540,000 per year in salary. Half of his money is gone!
Let's not forget about unemployment compensation that he has to pay for each employee. And payroll taxes. And then there's the gas for the 6 trucks that runs about $6000 per month. And when he takes down a big tree he has to rent a crane. You can't exactly go out and buy a million dollar crane when you're Joe the Tree Trimmer. And disposing the debris, yes, he has to pay for that, too.
By the time all is said and done, he's way under $250,000. And because Obama refuses to provide any details about any of his plans, we are not really sure how his taxes would affect small businesses. Therefore, if you are a small business owner, be scared. Be very scared. Obama plans to run you out of business. He wants to stick it to you so that you pay your fair share.
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