Joe the Plumber Won't Swing the Tax Debate
With 11 days to go, John McCain launched a "Joe the Plumber" tour through battleground states today, determined to convince voters that Joe is just like you and me and that he'll pay higher taxes if Obama is elected.

With 11 days to go, John McCain launched a "Joe the Plumber" tour through battleground states today, determined to convince voters that Joe is just like you and me and that he'll pay higher taxes if Obama is elected. The premise is wrong in three ways, but what's most amazing is that McCain doesn't seem to care.
Let's say at the start that both candidates have been guilty of plenty of distortions in this campaign -- each telling lies (yes, lies) about the other. McCain is running ads saying Obama and congressional Democrats "promise" to raise taxes on those making $42,000 a year -- exactly the opposite of what they promise. Obama, meanwhile, has accused McCain of wanting to privatize Social Security (not true) and of wanting to stay in Iraq 100 years (he never said that). He's also distorted the real-world effect of McCain's health care plan.
But what's different about Joe the Plumber is that he's been thoroughly and publicly debunked. He rose to prominence last week as a supposed example of a small businessman who would be hurt by Obama's plan to raise taxes on those making over $250,000. It soon turned out that Joe wasn't a business owner -- or even a registered plumber. He makes only $40,000 a year and even if he managed to buy the business he covets, that business made a profit last year of less than $100,000. And in the greatest irony of all, Joe would actually do a lot better under Obama's tax plan than under McCain's.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
But in the strange world of politics, none of those facts mattered. Joe became a staple of McCain's speeches -- along with Wendy the waitress and Bob the barber -- as people who would be victimized by Obama's effort to "spread the wealth," even though none of them would be. Like so much else in this campaign, there seemed to be a belief that if you say something often enough, it takes on a truth of its own.
Well, there's some consolation -- maybe a lot of consolation -- in evidence that the American voters aren't that stupid. Recent polling shows that the tax argument -- a staple of past Republican campaigns -- isn't working for McCain. In fact, by a 51-43 margin voters favor Obama's tax approach to McCain's, according to the latest ABC/Washington Post tracking poll.
Why is that? Several possibilities. I'd like to think some of it is because voters are smart enough to sort through the false rhetoric, but it could just be that Obama's overwhelming money advantage has allowed him to drown out McCain with advertising. It could be, as Virginia Democratic Gov. Tim Kaine argues, that voters have seen the results of eight years of a tax-cut-only strategy and don't believe it works. Or it could be that with so many people are worried about keeping or finding a job, taxes take a back seat. In fact, taxes are way down the list of priorities that voters tell pollsters they care about this election.
We won't know if the polls are right -- or if McCain can still take charge of the tax issue and make it matter to the electorate -- until the election is over. For the moment, though, it appears that the negative approach hasn't worked for either side. That hurts McCain more because Obama has had enough money to run both positive and negative ads. McCain had to choose and right now, it looks like he made the wrong choice. We'll see.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

-
Four Surprising Signs You’ll Never Retire (and How to Fix Them)
Gearing up to retire? If any of these four signs ring true, you may want to make some changes before you do.
-
Stocks Rise After Trump-Powell Fed Tour: Stock Market Today
Nvidia hit a new all-time high intraday, but another renowned semiconductor name and some less iconic stocks were bigger movers Friday.
-
Money for Your Kids? Three Ways Trump's ‘Big Beautiful Bill’ Impacts Your Child's Finances
Tax Tips The Trump tax bill could help your child with future education and homebuying costs. Here’s how.
-
Key 2025 Tax Changes for Parents in Trump's Megabill
Tax Changes Are you a parent? The so-called ‘One Big Beautiful Bill’ (OBBB) impacts several key tax incentives that can affect your family this year and beyond.
-
2025 SALT Cap Could Hurt Top 'Hidden Home Cost'
Tax Deductions The GOP tax bill could make hidden homeowner costs worse for you. Here’s how.
-
Summer Programs for Kids at Risk Due to Trump Grant Funding Cuts
Tax Dollars Some after-school and summer programs may begin to cut back hours or shut down entirely due to federal cuts to volunteer programs.
-
Can Homeschoolers Save on Expenses With 529 Plans?
Savings Accounts A new so-called 'home school tax break' could change how you save for your child's homeschool education. Find out how.
-
What Do Trump's Pardons for Rich Tax Evaders Mean for IRS Enforcement?
Tax Law Recent pardons raise questions about tax fairness and the difference between tax avoidance and evasion.
-
Are Clean Energy Tax Credits Going Away This Year?
Tax Credits Now that Trump's mega tax bill has passed, some wonder when energy-efficient incentives, like solar, electric vehicle, and home improvement tax credits, will end.
-
Big GOP Tax Bill Could Change Your Estate Planning for 2025
Tax Law The GOP extended and increased the higher gift and estate tax exemption and affected AMT thresholds. What might this mean for your estate plan?