Joe The Plumber Has a Bigger Issue Than Taxes

Posted on October 16, 2008
Filed Under Politics, taxes |

So the m ost famous plumber in America (Joe Wurzelbacher) - now dubbed “Joe the Plumber” - has lots of notoriety which his employer should use to thier advantage. As I see it, here is the bigger problem for Joe. He admits that he “doesn’t have a good plan put together on how he would buy Newell Plumbing and Heating“, nor does he (or his employer) actually have a plumbing license. Ah, I think the license issue is a problem for his current employer, but the fact that he has no plan (i.e. business plan, means he is basically set up to fail like the 95%+ of business owners who start businesses without any real world business or marketing skills. This is very common in the trades, where someone can be very skilled at what they do, but once you put them in the role of a business owner (glamorous as it sounds), they more times than not - will fail.

Regarding the new taxes, I don’t think that will be an issue either, but it does show again, that Joe does not understand business. He stated that the business would gross over $250,000. What he doesn’t apparantly realize is that business write off LOTS of their income, and if he ha a good accountant, it will be a long time before he sees a net profit of $250,000. And when he does, he should be proud to pay his taxes as he will be in the top 1% of income earners in the country.

That’s my take, and no I am not a Democrat.

Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages.