Thursday, October 16, 2008

Joe the Plumber and Progressive Marginal Taxes

The biggest sense I got about Joe the Plumber last night is that he has a basic misunderstanding of the progressive marginal tax system. If Joe moves a buck over 250k, he would probably pay about a nickel more in taxes under Obama's plan compared with McCain's. That's a fact. I've explained it before. It's fine to have civil disagreement over the philosophy of the sorts of changes in the tax code that the candidates would bring to the table, but the Republicans have been distorting the facts about the tax code since Reagan, and the middle class needs to stop drinking their Kool-Aid.

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