JOE THE PLUMBER ... GOING DOWN THE DRAIN

It looks like John McCain's Joe the Plumber story, like his campaign, is going down the drain.

Bloomberg.com is reporting that pretty much everything about Joe the Plumber is either not true, or seriously overstretched to fit a political narrative. The problem is Joe the Plumber tried to make it look like he would be hurting under the Obama tax plan because of the $250,000 tax kick-in when, in fact, he would do better ... much better.

It turns out that Joe the Plumber doesn't make anywhere near $250,000. He never has. JP actually makes about $40,000 (which probably explains his tax problems). But if JP did make the $280,000 that's been thrown out there, not only would JP be much better off financially but he would only start paying the higher rate on the first $30,000 he made after $250,000. This adds up to a heartbreaking $733 in new taxes ... on an added income of $240,000! Oops.

Click here to read the entire slow-bleed Joe the Plumber campaign lie from Bloomberg.com.

- Mark