McCain made a lot of Joe the Plumber in yesterday’s debate: “You’re rich, Joe” McCain said “congratulations”. McCain mentioned Joe about a dozen times so pleased was he with the average guy from Holland, Ohio that had ‘nailed’ Obama and his (socialist?) plan to spread the wealth around a little. Well, it turns out there is a lot more and a lot less to old Joe than you might have thought:
Kos is credited with first uncovering the possible relationship of McCain’s Joe the plumber with Robert Wurzelbacher, the son-in-law of Charles Keating, sentenced to prison for his role in the Lincoln Savings and Loan collapse in the 1980s (remember the Keating 5? Not a singing group.) Robert Wurzelbacher is a contributor to Republican campaigns throughout the country.
Joseph Wurzelbacher’s full name is actually Samuel Joseph Wurzelbacher (but) Joe “the plumber” is no plumber. A check of Ohio plumbing licenses done by the Toledo Blade showed he had no plumber’s license. Joe-not-a-plumber-Wurzelbacher responded to the “you’re no plumber, Joe” discovery by claiming he works under his boss’ plumbing license. However, Ohio law requires Joe-not-a-plumber to have his own license.
Cheater in his business, cheater in politics? Fair question under the circumstances. After Joe-not-a-plumber expressed concern over the effect Obama’s tax plan would have on his prospects of opening his own business, McCain charged with accusations that Obama’s tax plan stood between poor Joe the plumber and his ability to open his own business. Seems something bigger is looming in Joe-not-a-plumber’s path than some future tax plan that may or may not ever be enacted into law.
ABC news staked out Joe-not-a-plumber’s house and learned that Joe had hoped to buy a plumbing business with an asking price of $250-280,000. His earnings? Far less than that. Yes, you got it, Joe the plumber, who we now know isn’t a legal plumber, would not face any tax increase whatsoever under Obama’s tax plan.
As with Sarah Palin, McCain should have done some more due diligence.
3 Comments
Trev,
This is merely a debating point I make but Carol Gilbert demonstrates a complete ignorance of business here.
She fails to realise that “Joe” would have to calculate his after-tax earnings when determining whether he could afford to borrow the funds to buy the plumbing business.
If taxes rise under an Obama Presidency than his projected after-tax earnings would fall and his ability to cover the loan he would likely need to buy a business would be compromised.
So he is entitled to express concern “over the effect Obama’s tax plan would have on his prospects of opening his own business”.
That aside, his failure to properly vet Joe’s background (or naively think no one else would) is another blunder by McCain, who now stares down a landslide of 1984 proportions (I hope!)
I think she has conflated two things. He has to earn over 250k to be impacted by Obama’s tax policy. I don’t know how much the business would cost or whether it will produce an income of over 250k in any event it seems that McCain is confused too because whatever Joe is, he doesn’t seem to be rich!
Hey Ben here’s some more from the WSJ:
The company, A.W. Newell Inc., with two employees, Al Newell and Mr. Wurzelbacher, reported sales this year of $100,000. On sales of that volume, a firm that size could expect to earn about a 6% profit, or $6,000, after salaries and costs are taken out, according to Lee Smither, managing director of FMI Corp., a Raleigh, N.C., management-consulting firm for construction contractors.
The average income of plumbers, pipefitters and steamfitters in 2006 was $48,002, according to the Bureau of Labor Statistics. With income and profits, Mr. Wurzelbacher would be nowhere close to the threshold of $200,000 for individuals and $250,000 for couples for Sen. Obama’s proposed tax increase. To reach that level, Mr. Smither said, a mom-and-pop plumbing company like Newell would have to clear $5 million in annual sales.
But if Mr. Wurzelbacher reaped taxable income from his business of $280,000 a year, he’d pay about $900 more a year in taxes under Sen. Obama’s plan, which would raise the tax rate on the income between $250,000 and $280,000 to 36% from 33%.