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  • Obama Tax Plan and Joe the Plumber

    The Heritage Foundation’s Center for Data Analysis has just released a study of Barack Obama and John McCain’s tax plans. Using tax models and tax information from other sources as inputs into Global Insight’s U.S. Macroeconomic Model, the study estimates the side-by-side economic effects of the two plans.

    The study concludes: “Each presidential candidate achieves his stated goal,with Senator McCain generating the most new jobs, growth, and additional income for individuals. Sen­ator Obama’s plan drives up the tax rate for individ­uals with annual incomes above $250,000 and redistributes money to workers with lower incomes.”

    Don’t believe us? Just ask Barack Obama. The New York Post reports:

    The fracas over Obama’s tax plan broke out Sunday outside Toledo when Joe Wurzelbacher approached the candidate.

    Wurzelbacher said he planned to become the owner of a small plumbing business that will take in more than the $250,000 amount at which Obama plans to begin raising tax rates.

    “Your new tax plan is going to tax me more, isn’t it?” the blue-collar worker asked.

    “It’s not that I want to punish your success,” Obama told him. “I want to make sure that everybody who is behind you, that they’ve got a chance for success, too.

    Then, Obama explained his trickle-up theory of economics.

    “My attitude is that if the economy’s good for folks from the bottom up, it’s gonna be good for everybody. I think when you spread the wealth around, it’s good for everybody.”

    Posted in Economics [slideshow_deploy]

    5 Responses to Obama Tax Plan and Joe the Plumber

    1. DJ san antonio, t says:

      Well, let us see….perhaps the employee should become an apprentice to the owner, since, of course he shall become the recipiant of the owner's knowledge. He then should also take a percentage of the risks.

      Since Obama wants to share the wealth, the risk also must be shared.

    2. Ira Illinois says:

      When will average Americans wake up to the tax and spend policies of the liberals. It's bad enough we get the spend (not so much tax) from our current administration.

    3. Debbie says:

      Looks as if it will be more of the same instead of change from Obama. Take from working people and give to non working people without requiring any responsibility or effort from the lower ranks except of course to be able to cash the check Joe the plumber will be supplying. I am surprised Obama doesn't realize we already have a welfare system in place and it is running over with people we are sharing the wealth with. I am dissappointed in Obama's "take from the haves give to the have nots", No change there!

      I would like to have a candidate with a"teach them to fish attitude". That would help the economy and the have nots self esteem and confidence. Most confident, skilled people want to earn their way. Let's quit giving it away and have people earn it for a change.

      We could set an example by turning out all of the non producing, self serving leaders we have in place and replacing them with leaders who want to earn their way and save us from ourselves by making us earn our pay instead of waiting for a hand out,or for Government to fix our problems. If they want a government check from Joe the Plumber then they have to earn it, just like joe the plumber. Fair is fair!

    4. Barb- st. paul says:

      Joe exemplifies EQUAL OPPORTUNITY. The reason people are not willed to take necessary steps as Joe did for himself is TOO MUCH GOVERNMENT!!!!!

    5. Charles says:

      Obama's tax plan will destroy the Social Security system.

      Obama says his income tax plan will lower taxes for 95% of Americans. There is just one problem with this, 40% of Americans already pay no income tax. Obama's response to this is that these people pay Social Security tax. Well, that's not income tax, but a contribution to their retirement plan. So if he wins and implements his tax plan, for the first time in the history of Social Security, 40% of the people who will get retirement benefits will have paid nothing for them. Social Security will then loose all pretext of being a retirement plan, and will become a national welfare program.

      This will cause Social Security to lose public support in a massive way. Leave Social Security contributions out of income tax plans. If you take some peoples income taxes to pay others Social Security taxes, Social Security will be destroyed forever.

      http://strategicthought-charles77.blogspot.com/20

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