Joe the Plumber: Math ur doin' it rong

I found this info interesting:

Wurzelbacher also acknowledged that he had no specific plans for buying Newell’s business, saying he and Newell had simply talked about the idea from time to time. He might have difficulty making the purchase: Court records from his divorce show that Wurzelbacher made $40,000 in 2006.

Even if he did buy Newell Plumbing and Heating, Obama’s tax plan wouldn’t affect him. While Wurzelbacher told Obama that he would be taxed at a higher rate because the company grossed more than $250,000 a year, Ohio business records show the company’s estimated total annual revenue as only $100,000. Actual taxable income would be even less than that.

In any event, Obama’s tax plan specifies that the higher rate would apply only to income above the $250,000 threshold. Assuming Wurzelbacher’s income as owner somehow hit $280,000 — the top end of his supposition of the company’s revenue — only the extra $30,000 would be taxed at a higher rate.

Analysts calculated that the extra tax would amount to $900, which would likely be more than offset by separate provisions of Obama’s plan: a 50 percent tax credit for health care and elimination of the capital gains tax for small businesses.

Source: MSNBC

P.S. I have taken the liberty of highlighting and enlarging the parts that I think are really important. I learned this technique from The Gallivanting Monkey. :)

P.S.S. I promise that at some point this blog will turn back into rants, raves, grumblings and stories about my boring life. Right now my life is just totally consumed by all of this stuff. 12 more days.