From the Associated Press
HOLLAND, Ohio--Joe the Plumber said Thursday he doesn't have a license and doesn't need one. Joe Wurzelbacher, better known as Joe the Plumber, the nickname Republican John McCain bestowed on him during Wednesday's presidential debate, said he works for a small plumbing company that does residential work. Because he works for someone else, he doesn't need a license, he said.
Wurzelbacher was cited by the GOP presidential candidate as an example of someone who wants to buy a plumbing business but would be hurt by Democrat Barack Obama's tax plans. Wurzelbacher said he was surprised that his name was mentioned so many other times.
"That bothered me. I wished that they had talked more about issues that are important to Americans," he told reporters gathered outside his home.
Wurzelbacher, 34, said he doesn't have a good plan put together on how he would buy Newell Plumbing and Heating.
He said the business consists of owner Al Newell and him. Wurzelbacher said he's worked there for six years and that the two have talked about his taking it over at some point.
"There's a lot I've got to learn," he said.
Wurzelbacher said he started his day with an early morning workout and came back to his suburban Toledo home to do live interviews with TV networks.
Reporters camped out by his house overnight and by midmorning there were 21 people on his driveway surrounding him, holding cameras and notebooks.
Wurzelbacher said he's feeling overwhelmed.
"I'm kind of like Britney Spears having a headache. Everybody wants to know about it," he joked.
In Toledo on Sunday, Wurzelbacher told Obama that he was preparing to buy the plumbing company, which earns more than $250,000 a year, and said: "Your new tax plan is going to tax me more, isn't it?"
Obama said that under his proposal taxes on any revenue from $250,000 on down would stay the same, but that amounts above that level would be subject to a 39 percent tax, instead of the current 36 percent rate.
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Comments
Something just isn't adding up here about "Joe the plumber" making over $250k per year. let's look at the business side of it.
Fisrt off even if Joe is a sole proprietor he would file a schedule C, E or F with the IRS. The other thing is that I think he was talking about gross earnings of $250k. The IRS doesn't even use that number. You have to factor in all of your expenses.
If Al Newell is paying Joe's salary (plus benefits?), there are all of the other expenses like supplies, tools, vehicles/mileage, administrative costs. All of that goes into determining net taxable income. If after all of that, Al is clearing $250k, then I would say that Al is screwing Joe by not paying him nearly enough. Also, Joe could buy health insurance for himself through the business and deduct that as a business expense.
Also, a rule of thumb for purchasing businesses is 7 times earnings, meaning that the purchase price would be $1.75 million if Al is clearing $250k per year. That's one successful plumber.
Posted by: Todd M | October 16, 2008 1:50 PM
Ha, I knew this ignorant man not only did not have his facts straight, but was just learning the ropes of what owning a business was too. When he gets caught up to speed, he will quickly see that Obama’s economic and health care plans will help him more than McCain’s.
Posted by: xcellentform | October 16, 2008 2:11 PM
a. Joe is a registered Republican (see: Toledo Blade this morning)
b. Joe voted republican in the GOP primary (see: Toledo Blade this morning)
c. Joe DOES NOT make enough to see an increase in his taxes under Barack Obama's plan. (see: Joe's own interview last night with Katie Couric)
d. Joe is afraid that at some point in the future Barack Obama would change everything so that he would pay more. (see: Couric interview)
e. Joe doesn't believe in Social Security (see: TV interviews this morning)
Does anyone really believe Joe is undecided?
Can we stop talking about Joe?
Posted by: CK | October 16, 2008 2:14 PM
Seems like plumbers are suddenly flush with celebrity. If they aren't heroes already, they will be by Thanksgiving, their busiest time of the year.
Posted by: marlonm | October 16, 2008 2:14 PM
Funny thing -- investment capital being a primary obstacle to running a business although a license to do the work other than as an assistant is lacking. Wonder how the Dept of Consumer Affairs would rate that for priorities.
Posted by: James Dean | October 16, 2008 2:14 PM
"Seems like plumbers are suddenly flush with celebrity."
funny line...
Posted by: lochnessmonster | October 16, 2008 3:07 PM
anyone notice in the debate where OBAMA HAS CHANGED THE NUMBERS ON WHO WILL GET TAXED>
Instead of $250,000.00 and up he's now saying $200,000.00 and up.....what kinda fuzzy math is he doing now? AS USUAL HIS NUMERS JUST AREN'T ADDING UP.
Posted by: WHY DID OBAMA SAY HE'S TAXING $200,000.00 and up now | October 16, 2008 3:38 PM
The difference between the $200k and $250k figures reflect single versus family status. When talking about an individual, Obama uses the first number and when talking about families he uses the second.
That add up for ya now?
Posted by: ZekeM | October 16, 2008 4:29 PM
On the comment about the $200,000 vs. $250,000 -- he's not changing his numbers. If you would have paid attention, you would have heard that he said $200,000 if SINGLE, and $250,000 if MARRIED. Always so quick to attack Obama without actually listening.
Posted by: SouthSideD | October 16, 2008 4:34 PM
Here is why Joe is concerned:
For all you enamored with Obama's pledges on taxes: remember Clinton 93?
"Seeking to explain why he is backtracking on a campaign promise to cut taxes for the middle class, President-elect Bill Clinton said Thursday that the plan was never a major theme in his race for the White House.
Mr. Clinton, speaking at a news conference a day after saying he would have to "revisit" his tax-cut plan, said Americans voted for him because of the "big things" he wanted to do.
The middle-class tax cut, he said, was not among them.
He said he was "absolutely mystified" that the news media had perceived it as a major pledge. In interviews Wednesday, Mr. Clinton said that, because of worsening deficit projections,"I have to put everything back on the table.""
Hope that doesn't happen...
Sowing the seeds of doubt...
Posted by: Wade | October 16, 2008 6:47 PM
$250k a year... makes me want to become a plumber.
Posted by: Orrie | October 16, 2008 11:49 PM
Posted by: Wade | October 16, 2008 6:47 PM
Remember George H. W. Bush?
"READ MY LIPS! NO NEW TAXES!"
Posted by: BC | October 17, 2008 11:26 AM
Remember Obama>no wire tapping?
Posted by: glass houses | October 17, 2008 10:17 PM