Joe Wurzelbacher comments on Senator Barack Obama’s tax policy
Written by Michael Vass
Earlier I presented the video of Senator Obama as he spoke to a plumber about his tax plans. I discussed how I thought his answer fall flat when considered in the real world. The implications of his tax plan will not benefit the public, nor the economy in my opinion. But the plumber in question had his own answer about what he thought of the question, ‘How will your tax plan affect me?’
Not the American dream. That says a lot. A common American that provides jobs to others and works for a living. That’s who the Democratic tax plans affect. Not the CEO’s and multimillionaires that the polispeak ads and stump speeches try to convey, just people in the house next to you.
How normal is this part-business owner? Is he a mega wealthy tightwad that is unpatriotic as the Democratic ads, and potential VP Senator Biden would call him?
He lives in a home that is worth between $90,000 and $140,000 and can’t buy a bigger house because he can’t afford it. Sounds normal to me. Sounds like the people in Binghamton. Sounds like some of my readers too. And he doesn’t like what the Obama tax plan will mean to him. And as a result to his employees.
So is Senator Obama Robin Hood? Not according to this man. In perhaps the best description I have heard yet. About taxes he states clearly that Robin Hood stole from the greedy rich. Not just the rich, but the greedy to give to the poor. Small business owners are not the greedy rich that have been discussed in the media and Democratic pundits. They are not the people that the Obama tax plan would like you to believe. They are your neighbors and bosses.
In effect, what Obama is promising is that if you strive and save to be able to live the American dream of owning your own business and home, you will be punished for that achievement. That is the potential of an Obama Administration.
Does that in any way sound like a positive for the economy? Does that in any way sound like a benefit to 95% of paycheck earners?
The economy has finally taken center stage in the Presidential election. It’s finally on all the voters mind. And the Obama campaign has strived to tie Senator McCain to President Bush on this and other subjects. In that attempt they have obfuscated what the real effect of their proposals will mean.
Don’t believe me? Listen to Joe Wurzelbacher, a plumber and small business part-owner. Because if the tax plan of Obama doesn’t work for him, it means that employees will ultimately be hurt as well as the economy. And are you really voting to make things worse or better in a world that doesn’t react in a vacuum?
October 17th, 2008 at 8:39 pm
Please, tell me how trickle down economics has worked? I only see grief and despair. Enlighten me?
October 21st, 2008 at 1:24 am
Dan,
To understand what “trickle down economics” has meant to America you first have to understand what preceded it. During the Carter Administration the Prime rate was over 21%, which is the highest it ever was. That means that if you had a credit card that charged Prime plus the common 15% you would pay 36% total. Or in another way a mortgage would cost 25% for a person with perfect credit at a minimum. Productivity growth was under 1% for the nation.
Obviously this was a bad time to run a business or to just have to pay bills.
Regan’s economic plans, that were roundly hated by Democrats, brought down inflation and stimulated growth. It is because of these actions that PC’s became small enough to be used in home markets, and affordable enough for the average person (though they initially were only available to high end markets). At the same time there was growth in telecommunications that spurred the use of pagers and ultimately created the cell phone technology we use today. Without the change in economic plans investments into businesses from the top percentages of Americans would never have occurred and research into new technology – and thus creation of new businesses – would never have happened. In effect, without the new trickle down plans the internet would likely not exists, or in the form it does today at least.
So when people say trickle down does not work, they generally are misinformed or do not look at the proper timeframe. Economic policies take on average 6 – 9 months to start to effect business in general, and the full effect often is not felt for 2-3 years after a change is made.
If we cut the reason to invest in business, ala the double in capital gains taxes, corporations will not get the funds they need to research and develop new technologies and thus kill off new job creation. Further by increasing the corporate tax rates businesses will have to cut jobs and/or increase prices to maintain the same profit levels. That means either inflation or higher unemployment, or both.
The reality is that Senator Obama’s tax plans, including windfall taxation, are all reflective of policies enacted by President Carter. They did not work then, and in all likelihood will not work now. IF Obama is elected, and is enabled by Congress to pass all the plans he has, inflation will double, growth will drop in half, and unemployment will rocket and the nation will be far worse off than what any person complaining today (not without reason) experiences.