I heard on NPR that “Joe the Plumber” actually made about $40,000 last year, not $250,000. He’s just a regular working Joe. Joe owns a house, let’s guesstimate that Joe owes $50,000 on his house. If he bought it ten years ago, that’s plausible. He has no college expenses. (just a guess) I’m going to say that he has child care expenses for his son and that he has one dependent.
According to the Obama/Biden tax calculator, Joe should expect a tax cut of. $1,340. What would your tax cut be?