The stupidity of McCain's "Joe the Plumber" dominated campaign - and the people who fall for it - is surreal.
Under Obama's plan, the taxes are raised for people with $250k AGI (adjusted gross income).
For the small business owner to pay him- or herself $250k in salary, the small business must bring at least as much in profit - assuming no reinvestment in the business growth, and no other share- or bondholders.
At a very conservative P/E of 10, this means that the business would be worth $2.5M.
With $2.5M in assets, that would make Joe the Plumber a multimillionaire - exactly the constituency to which Republican party caters. Well, that and of course the stupid people who take McCain's claims at the face value...