Bob the Banker

Check out salon.com's "interview" with Bob the Banker, Joe's older brother.

Bob the Banker Speaks Out

Things are tough right now. Average working Americans like me are really struggling. They're angry. And when they see the effects of Obama's spread-the-wealth lunacy on an average angry struggling American like me, they'll be even more angry, average, and struggling.

Let me lay it out for you. Right now, I take home about $19,000 a month after the government skims off its share. And I don't have to tell you that $19,000 a month isn't what it used to be.

Take my Jaguar. Do you have any idea how much it costs just to have that thing tuned up? It's like a BMW repair bill on steroids. We're talking $500 just to open the hood

I love this part:

The numbers don't lie. So here they are.*

So, as I said, I make $280,000 annually after business expenses. I'm married and filing jointly. Under Obama, my itemized deductions would actually increase slightly — I'd get $49,420 in itemized deductions, while under McCain I'd get $48,975. But my personal exemptions would increase slightly under McCain — he'd give me $6,911, whereas I'd only get $6,132 from Obama.
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That leaves my taxable income at $213, 766 under Obama, $213,433 under McCain. Now we have to factor in the bracket cutoff, which for 2009 is $208,850. Anything below that figure for married couples filing jointly is taxed at the fourth tier, 28 percent. Any income above it, until you get up to near $400,000, is taxed at the fifth tier. And this is where the raving income-redistribution scheme of Barack Robespierre Obama kicks in.

As you can see, my taxable income is about $5,000 higher than the cutoff. McCain is going to tax that $5,000 at the current rate, which is 33 percent. But Obama's crazed plan calls for raising that rate to — get ready for it — 35 percent.

And here's what this means. Under McCain, my total tax bill would be $48,254. Under Obama, it would be $48,511.

That's a difference of $257. I'll say it again: Two hundred and fifty-seven dollars.

FYI: As you see at the bottom of the article, the author of this piece worked with Gerald Prante, an economist with "Tax Foundation." Damn right numbers don't lie.