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October 15, 2008
Plumber Joe
The above video shows the encounter of Plumber Joe Wurzelbacher with Senator Obama on the campaign trail. Joe is not a happy camper. He wants to buy a business. The business makes too much money, over $250,000, and Joe knows his taxes are going up under Obama. Now here is where it gets tricky: Obama said, "My attitude is that if the economy's good for folks from the bottom up, it's gonna be good for everybody. If you've got a plumbing business, you're gonna be better off if you're gonna be better off if you've got a whole bunch of customers who can afford to hire you, and right now everybody's so pinched that business is bad for everybody and I think when you spread the wealth around, it's good for everybody."Nice attitude you got Senator. Is it supported by the University of Chicago Economics Department? I don't think so. Now how do economies actually get better off? Not by spreading the wealth. They get better off by more production. Passing out money may be OK as an emergency measure but making it a permanent feature has the bad effect of reducing incentive. Which reduces output. So the Senator wants to reduce economic output with higher taxes and reduce government income with higher taxes in the name of fairness. What is fair about an under producing economy? Cross Posted at Power and Control Commenter Andrew has suggested this unedited YouTube version for those of who would want to see more. I also have another post up Joe The Plumber. posted by Simon on 10.15.08 at 11:26 PM
Comments
The Fox news clip is heavily edited. Full version of Joe and Obama is here... http://www.youtube.com/watch?v=vFC9jv9jfoA I think Joe raised a fair question, and Obama gave a great answer. Andrew · October 16, 2008 07:43 AM Post a comment
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I think Joe the plumber is screwed if Obama wins. He's going to have the IRS, and every regulatory alphabet soup agency of the federal government, crawling up his ass.
Speaking of which part of the anatomy, here I am speaking through mine: doesn't it "spread the wealth" when people independently engage in commerce? You know, buy and sell, trade, exchange goods and services? I sadly suffer from a non Ivy League degree and obviously lack Obama's leg tingling smartitude, but why does every pronouncement from him sound like it was cribbed from Marx and filtered through William Jennings Bryan?