In defense of Joe the Plumber...
I don't know if this is going to look like I support McCain or Obama more...but it doesn't really matter to me. I feel like the concept of small business has to be on the defensive. It's sad that as a nation, we have a hard time believing that small businesses can actually be successful. In fact, that's the whole point!
So Joe the Plumber isn't a licensed plumber. Big deal. If I'm understanding correctly, his question was in regards to buying the plumbing business he works for. He obviously works for his company in some other regard. You don't have to BE a plumber to own a plumbing business--you just have to hire them. He could drive a truck or be an assistant and still strive to own the plumbing company someday.
As for the $250,000 magic(k) number, it's definitely not unreasonable to think that a small business could generate that much revenue. Especially with multiple workers (which "Joe" is obviously one of) on payroll. If 5 plumbers work for you, and they each perform two $500 jobs per day...do the math. I'm sure your local plumbing franchise makes far more than that per day.
BUT...after payroll, expenses, taxes, insurance, etc...it may be unlikely for the company to be above the $250K mark that would suspend Obama's tax cuts.
So yes, Joe the Plumber, if he buys his business, will still probably be one of the small businesses that benefits more from Obama's plan. But BFD if he's running a business that's not. Both are viable scenarios.
I also have no ill will toward poor "Joe" for not using his "real" name. Maybe he was trying to protect his privacy (moot point now)? Camera crews were in his face...who wants to be looked up on whitepages.com?
So Joe the Plumber isn't a licensed plumber. Big deal. If I'm understanding correctly, his question was in regards to buying the plumbing business he works for. He obviously works for his company in some other regard. You don't have to BE a plumber to own a plumbing business--you just have to hire them. He could drive a truck or be an assistant and still strive to own the plumbing company someday.
As for the $250,000 magic(k) number, it's definitely not unreasonable to think that a small business could generate that much revenue. Especially with multiple workers (which "Joe" is obviously one of) on payroll. If 5 plumbers work for you, and they each perform two $500 jobs per day...do the math. I'm sure your local plumbing franchise makes far more than that per day.
BUT...after payroll, expenses, taxes, insurance, etc...it may be unlikely for the company to be above the $250K mark that would suspend Obama's tax cuts.
So yes, Joe the Plumber, if he buys his business, will still probably be one of the small businesses that benefits more from Obama's plan. But BFD if he's running a business that's not. Both are viable scenarios.
I also have no ill will toward poor "Joe" for not using his "real" name. Maybe he was trying to protect his privacy (moot point now)? Camera crews were in his face...who wants to be looked up on whitepages.com?