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Originally Posted by Loyal Rogue
If Joe hadn't misrepresented himself and his story from the beginning, and McCain hadn't tried to make him the centerpeice of the debate then it wouldn't even be a sidenote right now.
Instead now the whole thing looks like a desperate Hail Mary from McCain that just underscores his lack of judgement, erratic decision-making, and the same dereliction of basic vetting that brought "Hate America" Sarah to his ticket.
Actually, your whole song and dance looks like a desperate attempt to change the subject to whether or not some random dude is telling the truth. The whole point of the story was that Obama's answer to people who make over $250k is that they need to spread the wealth around.
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The Tax Foundation states that the tax cuts signed by U.S. Presidents Ronald Reagan and George W. Bush, contrary to popular belief, actually made the U.S. tax code more progressive, not less. In 1980, before Reagan's tax cuts, the richest 1% paid 19.05% of all federal income taxes, and by 1988, after Reagan's tax cuts, their share had increased to 27.58%. Likewise, in 2001, before Bush's tax cuts, the richest 1% paid 33.89% of all federal income taxes, and by 2006, after Bush's tax cuts, their share had increased to 39.89%.
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Originally Posted by Loyal Rogue
If anything, the taxcuts for 95% of all small businesses, and lower and middle Americans will put more money in average consumers' pockets which in turn will increase their buying power, which increases demand, which means that businesses will need to hire more people to meet the growing demand for their products.
Only, it won't matter that they "need" to hire more people if they can't afford to. What it means is that, if they "need" to hire more people to meet increased demand, they will also "need" to raise prices for consumers to account for increased taxes.
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Originally Posted by Loyal Rogue
And to clarify your earlier question about small businesses...
According to the Internal Revenue Service, most small businesses organize in ways that allow their owners to pay taxes at personal rates rather than as corporations, which impose a second layer of taxes. Almost 95 percent of 21.5 million owners of small businesses who file as sole proprietors had receipts under $100,000 in 2007.
You aren't really answering my question. What quality is it that you are using to qualify a business as small? Making a certain amount in income? Number of employees?