Economy

The Small Business Lie

Here's one of the "very serious, reasonable and wise" Republicans, Newt Gingrich, lying about how the expiration of the Bush tax cuts would kill small businesses.

For the record:

Fewer than 1.3 percent of those who claim small business income would be affected by expiration of Bush tax cuts to wealthy taxpayers. Despite Moore's claim that "most of the businesses" would "get hammered by the tax increase next year," according to the Tax Policy Center's table of 2009 tax returns that reported small-business income, 457,000 of those returns -- or 1.3 percent of them -- are in the top two income tax brackets, which include all filers with taxable incomes that would be affected by Obama's proposal to end those Bush tax cuts.

You could drive a fleet of tractor trailers through the holes in the Republican line on the Bush tax cuts. Have they worked to create jobs and stimulate the economy since 2000? NO! Will they work in 2011? NO!