Obama and Small business taxes - The other side of the story.

[delayjf]

Some interesting fact with regards to small businesses that will be getting a raise in their taxes.
Source: “The Small business Economy (2002-2003)” a report to the President of the United States. http://www.sba.gov/advo/stats/sb_econ02-03.pdf
According to the report, there are over 20 million small businesses in the US.
- Small businesses generate 52% of the GDP.
- Out of the @20 million small businesses – only @500,000 reported income greater than 250,000. So technically Obama is telling the truth when he claims that 95% of small business in America don’t make more than 250k.
And now for the other side of the story ( what Obama is not telling you)

THE 500,000 SMALL BUSINESES THAT MAKE OVER 250K ACCOUNT FOR 80% OF THE TOTAL REVENUE GENERATED BY SMALL BUSINESSES. Therefore, given Obama call to raise taxes on businesses making 250k will apply to those businesses that produce @ 90% of this nations GDP.

[DeanT]

That's why McCain has been saying 90% of cash for hiring will get a tax hike.

I wish the media would go after this as hard as they went after Joe the plumber. It is a job killer. No question about it.

[Tom]

Obama's whole philosophy is based on class envy and hatred. None of it is based on reality.

[ddog]

like most of the arguments on taxes in this whole debate, minus the race deal.


On this issue as to Reality , very few are up to that test, not just boma.

[Lefty]

Obama won't spread the wealth. Higher taxes just spreads the poverty.

[ArlJim78]

It doesn't matter the details of his tax plan, everyone knows its bogus.

Obama has two kinds of people that support him.

people that hate Bush and think Obama is smart and smooth and that the world will like us more with Obama as our president. these are the people that want revenge for 2000 and 2004.

then there are the people that think they are going to get something for nothing, free money, a tax break, free college, free health care, etc. These people are looking for Santa Claus for president.

[JustRalph]

Originally Posted by Lefty

Obama won't spread the wealth. Higher taxes just spreads the poverty.

Originally Posted by ArlJim78

It doesn't matter the details of his tax plan, everyone knows its bogus.

Obama has two kinds of people that support him.

people that hate Bush and think Obama is smart and smooth and that the world will like us more with Obama as our president. these are the people that want revenge for 2000 and 2004.

then there are the people that think they are going to get something for nothing, free money, a tax break, free college, free health care, etc. These people are looking for Santa Claus for president.

Great Posts!!! Dead on!!!