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CNN takes apart GOP claim tax hikes on rich would be damaging to small business, 'job creators' [View All]

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flpoljunkie Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-03-11 09:00 AM
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CNN takes apart GOP claim tax hikes on rich would be damaging to small business, 'job creators'
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Emphasis mine
Greg Sargent's Morning Plumline:

* Fact check of the day: CNN takes apart the ubiquitous GOP claim that tax hikes on the rich would be damaging to small businesses and the nations job creators:

In sharp contrast to the rhetoric, current data suggests small businesses dont create an outsized number of jobs, very few small business owners fall into the top two tax brackets, and tax cuts for small businesses are ineffective stimulus measures.

Relatively few small businesses would be affected: Extending the tax cuts for top earners for another decade would come at a significant cost nearly $1 trillion in added debt over a decade. But small businesses wouldnt see much of that cash. Only 2.5% to 3.5% of small businesses would be affected by an increase in those two rates.


http://www.washingtonpost.com/blogs/plum-line/post/the-...

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