Thursday, October 16, 2008

Did it have to be Toledo?


Let's talk about poor Joe the Plumber. Let's say that Joe's business makes $250,000. Apparently there is no difference between what his business makes and what he makes. So, he makes $250,000/year. Let's do some math:

That's $20,833/month. This is the 33% tax bracket, which brings it down to $13,888. The Ohio tax rate at that income is 7.5% which means he pays out another $1563.

Take a minute and go to realtor.com and see what's available in Holland, Ohio. Let's say he lives in one of the more expensive houses (I've pick the one on 636 Anastasia Court for $274,900). That's another $1500/month.

According to McCain, his health insurance will be about $485/month for the whole family. Yep, that's what he said last night and we should believe him. So take that out.

So, what does that leave for poor Joe the Plumber? Only $10,340/month for all other expenses. In Toledo. Sorry, dude, that's a lot of money. Congratulations, you get to pay more taxes. 

Joe the Plumber. Joe Six-pack. What about the chicks, man?

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