CNN Factcheck - Ignoring The Plumber - Less Than 2% Of Small Businesses Pay More Under Obama

[Median Democrat]

The MSM is once again seizing on the latest distration to make the race closers. We have had race and Ayers, now its some plumber. The fact of the matter is that less than 2% of small business pay more under Obama's tax plan. This does not even take into account healthcare. So, give credit to McCain for once again distracting people from the issues.

BTW Joe the Plumber would pay LESS taxes under Obama's plan. Joe's comments are based on his assumption that he would be rich some day. So, McCain's whole argument is based on a lie. The question is whether the MSM will once again repeat the lie over and over again.

http://money.cnn.com/2008/10/15/smallbusiness/small_biz_taxes_factcheck.smb/index.htm

/snip

In an interview afterward with WTOL, Wurzelbacher acknowledged that he'd still like to eventually buy the plumbing company he works for but that he wouldn't yet be hit by higher taxes.

"I want to set the record straight: Currently I would not fall into Barack Obama's $250,000-plus," he said. "But if I'm lucky in business and taxes don't go up then maybe I can grow the business and be in that tax bracket - well, let me rephrase it. Hopefully, that tax won't be there."

Few owners are that lucky in business. In a member survey conducted late last year, the National Federation of Independent Business (NFIB) found that only 14% of respondents said they had $200,000 or more in annual income.

* * *

The bottom line: McCain's claim only works by using an overly broad definition of what counts as a "small business" - and even with that definition, fewer than 2% of business owners would be hit by Obama's proposed rate increase. For those who are affected, the increase would be levied only on a part of their earnings, not all of them.

/snip

[Marsala]

1. When Will The Media Stop Doing Their Job And Start Propping Up McCain?!

Stupid biased liberal media. They need to attack Obama more than McCain, since Democrats are evil and should be exposed as such.

[Median Democrat]

5. The MSM's Ability To Ignore Facts Is Incredible - Joe Pays Less Taxes Under Obama

This whole Joe the Plumber distraction should be blowing up in McCain's face if the MSM actually reports the fact that Joe would pay less under Obama.

*POOF*

John McCain's campaign collapses under the weight of McCain's last hail mary. Relying on the mythology of Joe the Plumber without actually checking to see whether Joe made more than $250K.

[redqueen]

2. Smart people knew this already.

It's only those who are so desperate to believe any lie so they can support the GOP or at least not like Obama's plan who swallowed McCain's disgusting lies.

You'd think people might get kinda tired of being taken for fools... but I guess not. It's been nearly 30 years, and they still just suck that swill down.

[Median Democrat]

6. Here Is A Graph - Its Tough To Explain Without A Visual of the Tax Brackets

The problem with tax policy is that it is hard to explain tax brackets without causing people to tune out. You almost wish you could bring a Powerpoint into the debate, because most people just want to look at their tax brackets and ignore the rest. So, here it is:

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[kestrel91316]

3. I am a VERY SMALL business owner, and I figured out a couple of decades

ago that Republican policies are designed to benefit BIG businesses only. They work overtime to hurt small businesses (their loud claims to the contrary) because they don't want anybody coming up from the bottom to compete with their established plutocrats and corporations.

They ain't lookin' out for ME, that's for sure.

[Lydia Leftcoast]

4. As a self-employed person, I am delighted at the number of things

I can deduct from my pre-tax income, including new office equipment, business cards, travel to conventions, and FedEx charges, just to name a few.