Small Business Big Issue at Debate
During last night's vice presidential debate, nominees Joseph Biden and Sarah Palin discussed small business in America, with each mentioning the term twice. Republican hopeful Palin drew first blood on the matter when she accused Biden's presidential running mate, Barack Obama, of proposing to increase taxes on "millions of small businesses ... thus resulting in fewer jobs being created and less productivity."
She was speaking of the democrat's plan to increase taxes on American individuals earning $200,000 a year or more, and on households taking in $250,000 a year or more -- a bracket well within the top 5 percent of breadwinners in the nation. Biden shot back: "Ninety-five percent of the small businesses in America, their owners make less than $250,000 a year. They would not get one single solitary penny increase in taxes, those small businesses."
According to FactCheck.org, Obama's plan would not raise taxes on the "overwhelming majority" of small business owners, although a relatively small number of proprietors who file as individuals and who fall into that top income bracket would see increases. Which ticket is really more small-business friendly? As always, you'll be the judge of that in November.