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Friday, October 17, 2008

A TAXING JOE

May be John McCain should be trying to take the job away from Joe the Plumber, since it seems that he thinks that Joe the Plumber could be making the income of more than what the senator is paid.

At this point it seems that everyone is confused. The income of a business is not taxed as a whole only the NET PROFITS are taxed, after all the expenses of the business are taken out including utilites, local taxes, empolyees pay, health benefits, vhicles, parts, depriciation of buldings and equipment what have you, be it a corporation, sole propritership or an S-corpration, only then whatever is left for the owner is taxable. A Business could have a million dollars in sales but the owner may not even make a hundred thousand doallrs in income.

Both McCain and Neal Boortz and the other right wing mouth pieces are trying to scare people. To bad Obama himself could not explain it in the debate.

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