The truth is this spin from the Republicans about higher taxes on small businesses is just more of their lies. If all of you foaming at the mouth right wingers actually read the plan, you would know that the number of businesses that will actually pay higher taxes is small and mostlly reflects a closing of loopholes.

But I guess desperation is setting in in the Republican camp and the lies and distortions are setting in. There is no socialism, there is no communism in Obama's plan. The only socialism is the corporate bailout your idiot President forced this country into. "Spreading the wealth" is a metaphor, it isn't a government marching order.

Sick and tired off fraud and abuse.

Sick and tired off fraud and abuse.

So if Joe made $350,000, had $75,000 in business deductions plus 25,000 in personal deductions (mortgage interest, etc), his net taxable income would be $250,000, and his net tax increase would be 3% of the $50,000 he made in excess of $200,000 or about $1,500. Are you shedding any tears for this guy yet?

Honestly, if you are making that kind of money, this tax increase would certainly not be of much consequence to you. If anything, it would HELP convince you to hire new workers and reinvest in your business, since you could deduct this money and avoid taxes on it altogether.

If the "trickle down" economic theory is so bad, as Obama incessantly argues, then why did he prop up Wall Street by signing the Bailout Bill? I'll tell you why - because in his heart he knows that what I'm saying here is true: when big businesses profit, so do the rest of us.

Obama talks out of both sides of his mouth, which is what socialists typically do.

Don't vote for this guy. You'll be sorry. He's much farther left of centre than Clinton ever was.

McCain is grasping at straws, anything to help his campaign, except for what America needs. An honorable president. America is already hated enough and the ditch has been dug. Let's climb our way out.

Obama for President

Currently they pay 35%...

So if you make 250K per year... you pay 87,000 dollars per year in income tax. That doesn't count payroll, Social Security, 401K, unemployment and everything else his buisness has to pay. All that and he more than likely has one or two employees whos wage he pays.

So how is it he's getting off scott free?

Also, poor Joe the Plumber. He may have opened mouth and inserted foot. Not only was he exaggerating about the business he wanted to buy for $250K (which consists of him and the owner Al Newell), but Joe isn't even licensed to do the plumbing work he is doing. So he and the owner may be in hot water for his attempt at 15 minutes of fame.

WHAT A LOSER, JUST LIKE HIS PAL MCCAIN!

How DARE you turn on this poor guy and start saying horrible crap about him. HE wasn't in the debate!
Do you really alll HATE John McCain SO much that you will turn your evil words on an average american citizen??????

What is WRONG with you people? SHAME!

My husband's business' GROSS revenue is near $500k and the net profit is S**T. We are struggling along with everyone else. So stop whining and asking for handouts. Socialism is NOT the answer

How much is a gallon of milk?

(no googling)

All of these candidates are "out of touch" with the common person ! Not one of them would be able to answer the above question.

Not one of them has no idea what it's like to live an ordinary life in the United States right now.

All of their ideas sound good at their income level..... but let them live life making 30K per year and get back to me.

2- Joe "the plumber" has a two liens against him- One from the state of Ohio for- get this- owed taxes $1200 to be exact.

3- Joe "the plumber" would actually benefit from Obama's tax policies

Go figure

PLEASE!!!!!!!!!!!!!!!!!!!!!!! What!! If you make $250k-300K net taxable income and you are afraid of an extra $1500 a year YOU should not be anywhere near ANY business.......you have neither the intelligence or the gumption.

What Obama is proposing is a Socialist society much like the former Soviet Union. Get out, get an education, and work your way up the ladder and you get penalized. That is not what America is about, at least unless Obama becomes president.

NOBAMA 2008

LIKE ALL THE PEOPLE IN HIS CROWD.

HE IS NO PLUMBER ITHER,

IT WAS TOLD ON CNN THIS MORNING.

RUMOR HAS IT THAT IT WILL BE MADE PUBLIC THAT "JOE THE PLUMBER" WAS A PLANT FOR THE REPUBLICANS!

FACTS COMING OUT TODAY ARE:
--------------------
McCain did Joe the Plumber no favors.
Thu Oct 16, 2:27 PM ET

You knew it would happen. Joe the Plumber's 15 minutes of fame in last night's debate have turned into a round of public humiliation for the wannabe business owner. The Toledo Blade is reporting that Joe has no plumber's license.

To make matters worse, the Blade also found that the Ohio Department of Taxation placed a lien against Joe because $1,183 in personal property taxes had not been paid. To pile on, the paper disclosed, based on divorce records, Joe's 2006 income — $40,000, hardly enough to qualify for the tax hike he's so concerned about.

McCain's mortgage rescue plan buys homes at cost, way above their current market value, from the banks. It would then let the residents take out a low interest FHA loan from the government for the market value. The taxpayers will be paying the difference, and McCain justifies this by saying that EVERY taxpayer should pay more to make things better for everybody. And on top of that, McCain's plan makes it okay for banks to lend money irresponsibly, because the government will bail them out. It's a mechanism for transferring wealth from every taxpayer to the irresponsible banks that have gotten us into this mess.

Even if I made over $250,000, I'd much prefer Obama's plan to McCain's plan. They're both redistribution of wealth, they both have socialist elements in their plans (I'm a social democrat and that doesn't bother me at all), but Obama's plans are smart while McCain's are dumb.

During the Bush years, income for average citizens fell. When interest rates started to rise, all those adjustable-rate mortgages become unmanageable for people with flat/declining income. The resulting credit crunch and market meltdown has at last hit the rich. Their regressive tax policy, the goose that laid their golden eggs ever since Reagan, is now laying eggs of tin. Pain, to borrow a phrase from Barack Obama, is trickling up.

In my opinion, "small" means any company/business/firm making less than 5 million a year. Then again, the company I'm working for rakes in double-digit billions in revenue every quarter, so i guess i can't really make that distinction

The negative numbers represent a tax cut and the positive would be how much you would be taxed. Notice under the McCain plan, the richest Americans get the biggest tax breaks and the poor making less than 19K a year get a tiny $19 in relief. Obama's plan is obviously one that takes into account the struggle and pain of the average American today. Even that Joe the Plumber guy would only have to pay $12 in taxes because he said his company makes a little more than 250K. He can afford $12. No tears from me.

How sad that Joe the Plummer was misdirected in his errant mission. Even in the face of the truth and undisputable facts, he allowed his political inclinations to be manipulated and himself to be exploited by sef-serving political oppotunists .

If everyone had this attitude, we'll never get out of the economic mess that the Republican administration has created. We're either in this together or we're not... apparently Joe does not want to help his fellow countrymen. So much for their call to patriotism...

What a bunch of hypocrites!