Joe the Plumber Was Duped
The tax Joe fears falls only on the likes of Cindy McCain. Cindy has got poor Joe doing her dirty work—protecting the Bush tax cut for millionaires.
Bush cut the top rate from 39% to 36%. Back when McCain was a maverick he voted against that. But when Obama says to push it back up, McCain calls him a socialist. Obama's just letting the top two tax brackets return to where they were before Bush cut taxes for millionaires and exploded the national debt.
Joe is making $40,000. He needs 6 times that before his taxes go up. And even then he'd only pay 3% more on the part of his income above a quarter million dollars a year. If Joe earns a quarter million plus extra and has to pay 3% more on the extra, he'll think he's died and gone to heaven.
But Cindy makes over $5 million a year. Joe wouldn't make that in a century -- it would take him 125 years. A 3% tax hike for her would cost her three years of Joe's wages every year. Three is not much out of the 125 she gets every year, but bothers her.
Cindy and John McCain say a 3% hike on millionaires is class warfare. But under Republican President Eisenhower, the top tax bracket was 90%, and the rich were still rich -- not exactly class-war refugees. And Eisenhower was no socialist.
Now there has been class warfare over the last thirty years and you know who's on the attack. Not Joe the Plumber or even Jill the Computer Geek. They make no quarter million a year. The multi-millionaires have attacked and won. They've gotten their taxes cut by more than half since 1978. And they call anyone who wants to turn the clock back even to 1990 a socialist and a terrorist. Now that's class warfare.
Thursday, October 30, 2008
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7 comments:
Thank you for clearing that up, it makes alot more sense now to me.
~k
Who posted that post? And name me one of us Ps who make over $250,000 and is whining.
Sandy
or did you mean winning? cuz if I were making 250000, I would consider that winning.
Sandy
Maybe Shelly with her jewelery sales :)
I would not whine if I was making $250K, I would share my wealth with all of you :)
Janine
whine, I misspelled. That's my point girls, none of us make that much so we're all better under O's plan.
I LOVE YOU SHELLY, now do you have $5 dollars I can borrow?
LOL, Janine
Like I said before, I think Sandy does.
sab
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