From a proud American wife who gets it because she lives it:
I always like to read what you write, particularly when you stand for life. Good take on Joe. I am married to Mark the Trucker. He owns a small transportation business (approx 15 employees). He started with one truck in 1978. I’m pretty proud of him. He was also my high school sweetheart and still a hunk.
Anyway, the point I want to make is that small businesses are usually S-Corps or LLCs, and that means what they cannot deduct as business expenses is taxed as personal income. That puts most small business in a higher tax bracket than the one they would qualify for if only their real earnings were taxed. Also, this predicament disqualifies their children from receiving financial aid for college–we are “wealthy” by FAFSA standards.
In the transport industry an owner has to keep sinking-fund, so to speak. Engines blow up, accidents happen, and the price of replacing an 18 wheel tractor or a specialty trailer is very expensive. My husband is taxed a higher rate on income that is really not income. He puts a large percentage of it back into his business, as I know most entrepreneurs do. We live on a modest percentage of what appears “wealth” to Senator Obama.
My husband’s employees understand that. They see how we live and they respect their boss because he pays a fair wage and does provide health care and contribute to their 401ks. He’s not a Fat Cat or Robber Baron.
They recognize every time they pass through the toll booth and the EZ Pass registers that their boss is being taxed. They see more taxes when they fuel his rigs. They know that Interstate permits are more taxes. He pays Unemployment and Workman’s Comp, as well as half of their Social Security taxes. They recognize this.
And Kathryn they all vote Republican.
My gut feeling is that Joe works for a man like my husband, and wants to buy the business. Joe is like my husband and his employees. They work hard and dream bigger. There are a lot of Joes and Marks out here and they all don’t own businesses yet, but they dream. They know less government is best government. I sent that Joe clip to my husband as soon as it became available on Youtube. He has passed it around. Thanks for reading this far.