Posts Tagged ‘fair tax’
At long last, John McCain has found a star upon which to hitch his wagon: Joe the plumber — poster child for the downtrodden wealthy. Joe couldn’t have arrived at a more opportune time. With McCain’s campaign wagon reduced to a wheel-less junkyard contraption, drawing little more than scorn and pity from the masses, the old maverick was in sore need of a lift. Through Joe the plumber, McCain hopes to scare us so bad, that we’ll forget, once and for all, that his campaign is little more than a shoddily repackaged version of the Bush Administration.
To do this, McCain will need to simultaneously inspire and scare the bejeebers out of us, in a Berlin Wall-esque fashion, to help us realize that we — each and every one of us — are Joe the plumber. It is our noble and heroic struggle for the American dream that is being squashed by the evil, socialist/commie terrorist Obama, who is secretly scheming to funnel the wealth of hard-working Americans straight into the pocketbooks of cadillac welfare queens. It’s a tall order, to be sure, but if ignorant greed prevails, McCain could soon see a bump in the polls.
The whole thing started when Joe the plumber ostensibly** approached Obama in Ohio and posed the question that has been plaguing so many middle-class Americans during these troubled times: ”I’m getting ready to buy a company that makes $250,000 to $280,000 a year. Your new tax plan is going to tax me more, isn’t it?”
Obama acknowledged to Joe that, yes, that may very well be the case. Before the two men parted, Joe the plumber voiced his support for a flat tax. It is only natural that Joe the plumber would be in favor of a tax that — according to factcheck.org, benefits the wealthiest people in the country, while penalizing lower and middle income wage earners. According to Treasury Department figures (see table, left), Joe the plumber would see a 7.6% decrease in taxes, while those earning between $15, 000 and $200, 000 per year would see a .02% to 4.3% increase in their taxes.
Alternately, under Obama’s tax plan, Joe the plumber would see a relatively modest tax increase. Dean Baker, co-director of the Center for Economic and Policy Research in Washington, DC, punched the numbers and found that — assuming that Joe’s entire taxable income comes from his plumbing business – Joe would see an increase from 33% to 36%, for a tax rise between $0-$900 per year. This amount could hardly be blamed for thwarting Joe the plumber’s aspirations to buy a company that makes between $250,000 to $280,000 per year. But, if John McCain plays his cards right, he may be able to use Joe’s plight to “grow” his campaign’s numbers in the polls.
In the coming weeks, we can expect to hear less about Ayers and terrorism, and more about Marxism. After all, it was Obama and his socialist lending practices that led to the Wall Street crisis. Heaven knows, it was not the reckless policies of the past 8 years, nor the Bush-McCain deregulation orgy. So get used to words like: socialism, communism, spread the wealth, tax and spend liberals, hard-working Americans, class wars (huh?) and maybe even a welfare buck or two thrown in for good measure. McCain is depending on the fumes from these words to drive his defunct campaign to the finish line, come election day.
Will the tear-jerking tale of Joe-the-plumber inspire very many of the 95% of Americans who make less than a quarter-million dollars per year (and who would receive some sorely needed fairness and relief under Obama’s tax plan) to vote against their own best interests? It’s entirely possible, if the past 8 years are any indication. But if the past two months are any indication, it’s also possible that Americans have wised up. Regardless, McCain is banking on the stupidity of the American people. From the looks of his campaign and his support base, it appears that’s all he has left to him.
For more reading:
**Washington Post: Joe the Plumber: Not a Licensed Plumber — Joe the Plumber is not exactly a plumber, he’s “not even close” to making the kind of money that would result in higher taxes from Democrat Barack Obama’s proposals and has such an aversion to taxes that a lien was filed against him by the state of Ohio.
Wall Street Journal: Fair Tax, Flawed Tax: Does adding 30% to the price of every house sold sound like a good idea to you? by Bruce Bartlett, deputy assistant secretary of the Treasury for economic policy from 1988 to 1993.
Written by canarypapers
October 16, 2008 at 11:41 am