Tuesday, October 07, 2008

Small Businesses, The Engine of Our Economy, Will Suffer Under Obama's Tax Policy

From The Tax Foundation:

Sen. Biden also talked about small businesses:

...95 percent of the small businesses in America, their owners make less than $250,000 a year. They would not get one single solitary penny increase in taxes, those small businesses.

On the issue of small businesses, the "95 percent" figure is technically true, but those small businesses make up a much smaller fraction of the total small business income in America. It's not even close to 95 percent. In fact, approximately half of all small business income is earned by those tax returns that would face a tax hike under Sen. Obama's tax plan.

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