Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Here's Barry implying Joe must be lying, because no plumber could possibly make "a quarter million dollars." And you falling for it because afterall the IRS has a $1200 lien on Joe's checking account and "ninety-five percent" of small businesses (read: DBAs?*) earn less than "a quarter million dollars."

Very funny, Frank: "effete intellectual white collar urban middle class which McCain is trying to paint Obama as representing."

McCain is wasting his time trying to suck up to what passes for "hard working white Americans" as opposed to "hard working Americans" and "intellectual white collar" Dilberts.

* "Figure 1 and Table 1 show data from the Internal Revenue Service's Statistics of Income ("SOI") regarding the number of tax returns filed by different forms of business organizations from 1978 to 2005 ...Throughout the period 1978 to 2005, nonfarm proprietorships made up the vast majority of businesses. The S corporation is the second most numerous business form. In 2005, S corporations constituted 11.6 percent of all business entities."

fn. 16 "The numbers reported for nofarm sole proprietorships and for farm returns are based upon the number of taxpayers who filed a business return as a sole proprietor (Schedule C to From 1040) and who filed a farm income return (Schedule F to form 1040).[Sixty-seven percent] One taxpayer may report more than one business organized as a sole proprietorship; in that circumstance, the data reported here count only one sole proprietorship."
--"Technical Explanation Of Title III (Tax Provisions) Of Division A Of H.R. 1424, The "Emergency Economic Stabilization Act Of 2008" Scheduled For Consideration By The Senate On October 1, 2008" Joint Committe on Taxation, pp6-10 (pdf)

If Barry and Michelle filed a Schedule C, (and he did; I read the pdfs of the returns released to the public.) does he count his family among the sole proprietors (self-employed, salaried employee reporting "Other Income") or a small business employer?

Diversity is the key to economic and political evolution.

by Cat on Mon Oct 20th, 2008 at 10:23:29 AM EST
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