Women for John McCain criticize the tax policy views of one of the candidate’s leading advisors, Carly Fiorina:
“In the Bush tax cuts, if they are repealed, 23 million small businesses will have their taxes raised. Why? Because 23 million small businesses file their income tax as individuals…”
Putting aside the dubiousness of relying on a stale Bush arguement for his tax cuts, even with the subchapter S filers added in the total number of small businesses effected by a tax hike on those who net more than $250,000 a year remains a few hundred thousand – nowhere near the 23 million Fiorina claimed. I asked Fiorina to elaborate on how she arrived at the 23 million figure.
She responded: “My point is this: when Barack Obama says that the Bush tax cuts only helped the wealthy it is factually untrue. It is factually true that 23 million small businesses file as individuals. It is factually true that small businesses create 70% of the jobs in this country. So I honestly won’t even attempt to explain Barack Obama’s economic plan. You ought to ask them that, though.”
This statement, while factually true, is terribly misleading since only a small percentage of the 23 million small businesses would actually see tax increases and the Obama campaign argues that under his administration small businesses would benefit from his universal healthcare plan, offsetting any tax increases the top tier earners might see. So, when running HP did 23 million = a few hundred thousand? No wonder she got fired.
(Hat Tip: Feminist Law Professors.)
Update: A reader let me know that this item originally appeared in Time Magazine’s Swampland:
