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Obama’s tax hike on Small Business, and Fact Checking the “3%” Claim

By Erik Zimerman On October 16, 2012 · 3 Comments · In Against the Wind, The Whiskey Room

In a previous post, we took on the media’s “Fact Check” effort in the first 2012 Presidential Debate. One consistently tricky argument was the issue of Obama’s tax hike on the top 3% of small business. Romney accepted this figure, but countered that these few provide half of the jobs in the small business world, and a quarter of the total US jobs. Therefore raising taxes on them would hurt the economy and job creation right when it is needed most. In that previous article I stated that Romney was generally correct, as the pattern gathered from various sources of evidence showed that it is the top brackets of small business that disproportionately provide the bulk of the jobs in the category. However, thought it was clear that the tax rate would hit businesses that create a large number of US jobs, verifying the exact 3% to 50% statement proved to be difficult. No data seemed to be easily available which could provide that level of precision, though no data discredited the claim either. It could be said to be correct in spirit, as well as most likely in the ball park range as far as precision. Some astute [...]

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Obama’s tax hike on Small Business, and Fact Checking the “3%” Claim

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Obama’s tax hike on Small Business, and Fact Checking the “3%” Claim

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