Grim News

From last night’s debate…

Schieffer: But even if it was someone — even someone who had a history of being for abortion rights, you would consider them?

McCain: I would consider anyone in their qualifications. I do not believe that someone who has supported Roe v. Wade that would be part of those qualifications. But I certainly would not impose any litmus test.

Schieffer: All right.

No, it’s not all right.   In one sentence, McCain says that someone who supports Roe v Wade is not qualified to be a judge on the Supreme Court.  In the VERY NEXT SENTENCE, he says “I certainly would not impose any litmus test”.

Litmus Test: A litmus test is a question asked of a potential candidate for high office, the answer to which would determine whether the nominating official would choose to proceed with the appointment or nomination. (The expression is a metaphor based on the litmus test in chemistry.) Those who must approve a nominee, such as a justice of the Supreme Court of the United States, may also be said to apply a litmus test to determine whether the nominee will receive their vote. In these contexts, the phrase comes up most often with respect to nominations to the judiciary.

If you’re going to bullshit, at least put in a couple of sentences of fluff about how you are fighting for a person’s right to life. (even though you support the death penalty)

Then, of course, there is Joe the Plumber…

I have a few questions for Mr. “The Plumber”.

1) Since when do plumbers make more than 250,000 per year? (No, really… I might consider a career change)

2) According to the data provided by CNN and mentioned in an earlier column here, the tax burden for people making between 250,000 and 650,000 dollars will increase, on average,  by 12 dollars per year.  If such an additional burden means that you are now unable to afford to buy your own business, then isn’t your capital stretched just a little thin already?

3) How, exactly, did you manage to appear on Fox News almost immediately after your “spontaneous” encounter with Senator Obama?

Wait just a minute…

In the first few seconds of this clip, you mention that your business makes between 270,000 and 280,000 dollars per year.

You’re seriously telling us that paying an additional 12 dollars per year in taxes (on average), one dollar per month, is the difference between you being able to afford your own business and not being able to afford it?

Bullshit.

In fact, since I will admit that I’m using an “average” figure to come up with 12 dollars/year, let’s look at EXACTLY how much more “Joe the Plumber” will pay in taxes under Obama’s plan.

• FACT:  Obama will raise the marginal tax rate on income greater than 250,000 dollars per year from 35% to 39%.

• FACT: Marginal tax rate affects only the income within a particular bracket.

• CONCLUSION:  Given Joe’s statement that he makes between 270 and 280 thousand dollars, here are the numbers.

270,000-250,000 = 20,000 dollars taxed at the highest marginal tax rate.

280,000-250,000 = 30,000 dollars taxed at the highest marginal tax rate.

Under the current tax code, Joe pays between 7,000 and 10,500 dollars per year at the highest marginal tax rate. (35%)

Under Obama’s tax plan, Joe would pay between 7,800 and 11,700 dollars per year in taxes at the highest marginal tax rate. (39%)

Net difference: 800 dollars per year.

So 800 dollars per year, not counting the elimination of Capital Gains taxes for small businesses is the difference between “Joe the Plumber” being able to afford his own business and not being able to afford it?  Sure, that’s a bit more than the 12 dollars/month cited elsewhere, but we haven’t yet discussed the savings from Obama’s “Making Work Pay” program that would put an additional 500 dollars per year in Joe’s pocket (whoops, final number just dropped to 300 dollars per year) nor have we mentioned reductions in lower marginal tax rates that would bring the overall tax burden down significantly.

800 dollars per year translates to about 16 bucks per week.  (300 ~ 6 dollars/week)

Perhaps if Joe cut out a couple of six packs per month, he’d be able to afford that business of his after all.   The fact is, if the success or failure of his business depends on less than 20 dollars per week, maybe Joe is riding a little too close to the edge, financially, to be successful as a business owner at this time.  Maybe another year or two might help Joe stabilize his financial position to the point where a cup of coffee each day won’t be the difference between success and failure.

While watching the debate last night, I thought that McCain clearly outperformed Obama in the first 30 minutes or so.  The “Joe the Plumber” references were really hitting home and illustrating the difference between McCain’s plan and Obama’s plan.  The problem is that folks like you and me can go back and check the facts, run the numbers, and watch previous speeches and debates to see where candidates have fudged facts or outright lied to us.

In fact, Jon Stewart and friends have made a rather successful TV show based on this concept.  Perhaps you’ve heard of it.