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March 23, 2004

Dubya Lies- Small Business Not Rich

More lies.

Pimping for his megabuck corporate supporters, Bush has tried in recent weeks to attack Kerry's tax plans as hurting "small business."

But the data shows most small business owners wouldn't see any tax increase under Kerry's plans:

Taxing the rich?" Bush said during a recent White House forum where his guests included the owners of a hair salon, a convenience store franchise and an office supply dealer.

"When you're running up individual tax rates, you're taxing small businesses," he said.

The only problem is that most companies in the small-business world are so-called Main Street businesses with 10 or fewer employees, including restaurants, small retailers and small manufacturers, Census and IRS data show.

Their profits fall into a median range of $40,000 and $60,000, according to the National Federation of Independent Business, a leading advocate of the small-business community. That puts them just above U.S. median household income of $42,409.

"These are not rich people," said NFIB researcher Bruce Phillips. "Changing the tax cut for the wealthiest Americans, for the most part, doesn't apply to our membership."

We know that most of Bush's business buddies will see their taxes increase, but it just shows how much Bush is out of touch with people and businesses in the real economy that he doesn't understand that even most small business folks live modest lives.

Posted by Nathan at March 23, 2004 07:16 PM