Small Business Big Issue at Debate
By Dennis Romero •
Opinions expressed by Entrepreneur contributors are their own.
During last night's vice presidential debate, nominees Joseph Biden and SarahPalin discussed small business in America, with each mentioning theterm twice. Republican hopeful Palin drew first blood on the matterwhen she accused Biden's presidential running mate, Barack Obama, ofproposing to increase taxes on "millions of small businesses ... thusresulting in fewer jobs being created and less productivity."
She was speaking of the democrat's plan to increase taxes onAmerican individuals earning $200,000 a year or more, and on householdstaking in $250,000 a year or more -- a bracket well within the top 5percent of breadwinners in the nation. Biden shot back: "Ninety-fivepercent of the small businesses in America, their owners make less than$250,000 a year. They would not get one single solitary penny increasein taxes, those small businesses."
According to FactCheck.org,Obama's plan would not raise taxes on the "overwhelming majority" ofsmall business owners, although a relatively small number ofproprietors who file as individuals and who fall into that top incomebracket would see increases. Which ticket is really more small-businessfriendly? As always, you'll be the judge of that in November.
