October 15th2008 – the last of the Presidential debates of 08 played out on the stage of Hofstra University in Hempstead New York. The 90-minute debate was livelier by far than the previous debates and featured several high points and sparks. All the drama that played out on the platform had little to do directly with the drama that had unfolded earlier in the day on Wall Street and was more directly aimed at the troubles unfolding on Main Street.
At least that was the idea.
Joe Wurzelbacher is the infamous “Joe the Plumber”. A 34 year old unlicensed plumber from a county whom requires plumbers carry a license according to the Lucas County Building Regulations office. Joe works for a small plumbing contractor, Newell Plumbing and Heating in Toledo Ohio, who also is reprted to not be licensed. The company is made up of the owner, Al Newell and Joe “the Plumber”.
Joe voted in the Republican primaries and has indicated that he backs McCAin, yet somehow wound up at the Obama rally in Toledo Ohio on Sunday. While he was there he told Obama that he was preparing to buy the plumbing company that he works for. He stated that the company earns more than $250,000 a year, and said: “Your new tax plan is going to tax me more, isn’t it?”
Obama stated that under his proposal taxes on any revenue from $250,000 on down would stay the same, however any amounts above that level would be subject to a 39 percent tax, instead of the current 36 percent rate.
The idea and perception from last nights debate was that John McCain knows Joe the Plumber personally. This is in fact not the case. While leaning against the Dodge Durango parked in his driveway Thursday morning, Wurzelbacher indicated to reporters that he was a conservative, a fan of the military and McCain. He said meeting McCain would be an honor but he said he hadn’t been contacted by the Republican campaign.
During the course of the debate “Joe the Plumber” was brought up more than the current mess on Wall Street.
In the end I would think “Joe the Plumber” would be more concerned about getting the financing he might need to purchase the business. The housing market and the effects that it may have on the economic trend for his prospective purchase. The funding he may need for purchasing and licensing rather than a 3% tax hike that may or may not directly affect him as he may or may not be able to afford to give himself a salary of $250,000 a year.
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