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Media outlets uncritically repeat McCain's false claim that Obama would raise taxes on 23 million small businesses
Summary: Washingtonpost.com's The Trail blog, CNN, and CBSNews.com each repeated Sen. John McCain's false claim that "[i]f you are one of the 23 million small business owners in America who files as an individual rate payer, Senator [Barack] Obama is going to raise your tax rates." In fact, Obama has proposed rolling back President Bush's tax cuts only on "people who are making 250,000 dollars a year or more"; according to the nonpartisan Tax Policy Center, only 481,000 small businesses fall into the tax brackets that would be affected by those increases.
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Posted by mary59
The McBush economy will always stink because they cut taxes; and primarily for the wealthy. Cutting taxes equals less federal revenue equals less money for infrastructure, less money to pay for Iraq & Afghanistan, less money for social security and medicare. McBushCo has no real idea how to reduce the price of gasoline except some vague rhetoric.
The large multinational corporations have operated without paying their fair share of taxes for years and suffer no penalty for setting up offshore hq for tax avoidance, for shipping jobs overseas, for violating environmental standards. McBush has some nerve talking about job destruction. Grr.
Posted Tuesday July 8, 2008 8:05:39 PM EDT / Flag this comment
Posted by snoopy in reply to mary59
Don't forget the value of the dollar. It dropped 41% against the euro during Bush's watch. Our dollar sucks so bad that oil countries are switching to the euro which is further eroding the dollar's value.
And inflation. He's gonna beat Carter in that department too. We've pretty much hit double digit inflation in the food department...
Posted Tuesday July 8, 2008 8:35:38 PM EDT / Flag this comment
Posted by jawill11 in reply to snoopy
Posted Tuesday July 8, 2008 8:40:11 PM EDT / Flag this comment
Posted by foghornleghorn in reply to snoopy
History News Network’s poll of 109 historians found that 61 percent of them rank Bush as “worst ever” among U.S. presidents. Bush’s key competition comes from Buchanan, apparently, and a further 2 percent of the sample puts Bush right behind Buchanan as runner-up for “worst ever.” 96 percent of the respondents place the Bush presidency in the bottom tier of American presidencies.
http://www.harpers.org/archive/2008/04/hbc-90002804
Posted Tuesday July 8, 2008 8:41:34 PM EDT / Flag this comment
Posted by IRONY 101 in reply to foghornleghorn
Posted Tuesday July 8, 2008 10:01:57 PM EDT / Flag this comment
Posted by NiceguyEddie in reply to foghornleghorn
Pretty stong article. Thanks for the link.
BTW - as to history's "liberal bias" ;) it's interesting to note that Buchanan, Pierce and Johnson were all DEMOCRATS. (Filmore was a Whig, which means (basically) that he was a Republican)
Of course, the others were all Democrats at a time when Democrats more resembled modern day REPUBLICANS, but that's a different story.
Posted Wednesday July 9, 2008 10:30:49 AM EDT / Flag this comment
Posted by wzwriter in reply to NiceguyEddie
BTW - as to history's "liberal bias" ;) it's interesting to note that Buchanan, Pierce and Johnson were all DEMOCRATS. (Filmore was a Whig, which means (basically) that he was a Republican)
Of course, the others were all Democrats at a time when Democrats more resembled modern day REPUBLICANS, but that's a different story.
In defense of these men, they all served either directly before or after the Civil War, a time when the country was more divided than any other time in our history - even today. It's a miracle they could get ANYTHING done in such a political climate.
Posted Wednesday July 9, 2008 1:14:15 PM EDT / Flag this comment
Posted by foghornleghorn
Posted Tuesday July 8, 2008 8:17:21 PM EDT / Flag this comment
Posted by IRONY 101 in reply to foghornleghorn
Posted Tuesday July 8, 2008 10:03:25 PM EDT / Flag this comment
Posted by nerzog in reply to foghornleghorn
I watched "All the President's Men" the other day, and felt sad for what we've lost. The idea of today's journalists digging into a story of government corruption with that much tenacity feels like a remote fantasy. Bush has done much worse than anything Nixon did, and the Press has, for the most part, looked the other way. It's obscene.
Posted Wednesday July 9, 2008 8:19:17 AM EDT / Flag this comment
Posted by jawill11
Wow. They even managed to dig up another 2 million businesses to lie about. It used to be 21 million.
The funny thing is, the amount they increased it by is over 4 times as many businesses that would actually be affected.
Posted Tuesday July 8, 2008 8:38:22 PM EDT / Flag this comment
Posted by rms
I need help here... It could be that I am just ignorant, but would somebody please come to my assistance.
If there are 23,000,000 small business owners in this country, that means that one in every 13 people, man, woman, and child, owns a small business. That just seems to defy logic to me, unless I completely misunderstand the definition of a "small business."
HELP!!
Posted Tuesday July 8, 2008 8:52:31 PM EDT / Flag this comment
Posted by hujambobwana in reply to rms
Posted Tuesday July 8, 2008 10:54:26 PM EDT / Flag this comment
Posted by wzwriter in reply to rms
I need help here... It could be that I am just ignorant, but would somebody please come to my assistance.
If there are 23,000,000 small business owners in this country, that means that one in every 13 people, man, woman, and child, owns a small business. That just seems to defy logic to me, unless I completely misunderstand the definition of a "small business."
HELP!!
The Small Business Administration figures out how many small businesses there are by counting individual tax entities with sales below a certain number. Many small businesspeople actually run more than one tax entity, so there is no direct one-to-one correlation between the number of small businesses and the general population.
Posted Wednesday July 9, 2008 9:07:47 AM EDT / Flag this comment
Posted by peebs755
Posted Tuesday July 8, 2008 9:24:45 PM EDT / Flag this comment
Posted by Craig in reply to peebs755
Posted Wednesday July 9, 2008 1:01:06 AM EDT / Flag this comment
Posted by Wilfred of Ivanhoe
Posted Tuesday July 8, 2008 9:31:22 PM EDT / Flag this comment
Posted by wolf kotenberg
Posted Tuesday July 8, 2008 10:06:15 PM EDT / Flag this comment
Posted by mary59 in reply to wolf kotenberg
Posted Tuesday July 8, 2008 11:50:50 PM EDT / Flag this comment
Posted by eniobob2631 in reply to mary59
Mary59.
You have a great idea,just remeber that I and I alone invented sea water.
Posted Wednesday July 9, 2008 9:03:04 AM EDT / Flag this comment
Posted by snoopy in reply to eniobob2631
Posted Wednesday July 9, 2008 1:23:53 PM EDT / Flag this comment
Posted by chamay0
Posted Tuesday July 8, 2008 11:23:39 PM EDT / Flag this comment
Posted by Hellsau
I think I understand McCain's comment. He simply spoke oddly:
"If you are one of the 23 million small business owners in America who files as an individual rate payer"
He means that if you are one of the 23 small business owners, AND happen to be one of the small number of individual rate payers. As a similar example:
"If you are one of the 300 million Americans who is a serial killer"
See, that wouldn't imply that all 300 million Americans are serial killers. Only filthy liberals would think that.
Posted Wednesday July 9, 2008 12:22:36 AM EDT / Flag this comment
Posted by oscar the grouch
Based on the spam emails promising that I can "earn millions" on the Internet, there may be 23,000,000 "Small Business Owners" out their earning over $250,000. And its conceivable (not) that the number could well be growing day by day.
Excuse me while I answer the Barrister in Nigeria that has a 6 figure Cashier's Check just waiting for me.
Posted Wednesday July 9, 2008 12:24:35 AM EDT / Flag this comment
Posted by msassani1730
Why is it that the Democrats seem to favor taxing capital gains and stock dividends much more than Republicans? These days all retirement plans depend on a healthy and growing stock market. Why shouldn't the tax code encourage the small investors to save and invest in stocks? For instance by exempting from taxation long term(may be even 3 years+) capital gains and dividends of less than $10K annually; or increasing the capital loss write off to $6000 annually per person instead of $3,000 per return?
This could also reduce market volatility which is currently mainly benefitting the super rich Hedge Fund investors.
Such a tax policy may be calibrated so it will be revenue neutral while it could help increase the savings rate which is what we need right now.
Posted Wednesday July 9, 2008 2:29:09 AM EDT / Flag this comment
Posted by eniobob2631
I look at JohnnyMac sometimes and he gives me the impression that when he got up that day,he says to himself what the H#@* did I get myself into.
Text messaging,Blogging,"The Internets",Using a computer.Sometimes I can't even hold a microphone correctly.
Posted Wednesday July 9, 2008 9:00:57 AM EDT / Flag this comment
Posted by jcox28
When the press repeats RNC lies and propoganed, without evaluating the evidense, they are misinforming voters, not informing them. I believe the press knows exactlly what they are doing. It is just too common an event to be anything except bias.
jerry
Posted Wednesday July 9, 2008 10:19:04 AM EDT / Flag this comment
Posted by KATHLENEC9402
Just more proof of how biased the news media and the AP are.
People are so tired of McCain getting a free ride and being
touted by these inadequate, distorting, prejudiced reporters.
It happens over and over, yet the above people continue to
keep their jobs.
Whatever happened to truth and integrity?
MSNBC has always been biased, but now CNN is going the same
route.
Viewers, readers, we should boycott them and smother them with
e mails and complaints.
Posted Wednesday July 9, 2008 3:10:27 PM EDT / Flag this comment
Posted by chasemt2535
History shows that tax cuts on the rich actually increase tax revenue. Kennedy and Reagan had similar tax cuts. Right now the top 1% account for 40% of tax revenue. At its highest point in history the tax rate on the rich was 70%. With that tax rate the top 1% accounted for 16% of revenue. So if you want to raise taxes on the rich go ahead but more of the tax burden will be on the shoulders of the middle class.
Posted Wednesday July 9, 2008 4:40:16 PM EDT / Flag this comment
Posted by roundhouse in reply to chasemt2535
Posted Thursday July 10, 2008 2:52:09 AM EDT / Flag this comment