Saturday, October 4, 2008

McCain and Palin Continue to Distort and Exaggerate Effect Bush Tax Cuts Have On Small Business Job Creation

One of the biggest lies of the George W. Bush campaigns for Presidency was that his tax cuts for the ultra wealthy helped "millions of
small businesses create jobs". Bush always mentioned the statistic that "85 % of all new jobs are created by small businesses" which is true. The reality behind the big lie, however, is that only approximately 5 or 6 percent of those new jobs were created by small business owners wealthy enough to receive the Bush-McCain Tax Cuts. Not "millions of small business created jobs" and certainly not anywhere near the vast majority of the "85% of the new jobs created by small business owners" as Bush, McCain and Palin falsely imply. Don't Believe me?

The Non-partisan and highly respected web site for political fact checking run by the University of Pennsylvania Annenberg School of Journalism. again pointed out the following:

"Palin repeated a falsehood that the McCain campaign has peddled, off and on, for some time:

Palin: But when you talk about Barack's plan to tax increase affecting only those making $250,000 a year or more, you're forgetting millions of small businesses that are going to fit into that category. So they're going to be the ones paying higher taxes thus resulting in fewer jobs being created and less productivity.

As we reported June 23, it's simply untrue that "millions" of small business owners will pay higher federal income taxes under Obama's proposal. According to an analysis by the independent Urban-Brookings Tax Policy Center, several hundred thousand small business owners, at most, would have incomes high enough to be affected by the higher rates on income, capital gains and dividends that Obama proposes. That counts as "small business owners" even those who merely have some sideline income from such endeavors as freelance writing, speaking or running rental properties, and who get the bulk of their income from employment elsewhere." See FactChecking Biden-Palin Debate, October 3, 2008 at

Any voter who cares about the economy, job creation or even their own personal financial interest would be a complete idiot to vote for McCain-Palin and their recipe for economic disaster by calling for making the Bush Tax Cuts permanent. The American economy is consumer driven and does best when the tide raises all boats, not just the luxury yachts of the wealthiest 1 1/2 percent of all Americans.

Supply side or "voodoo economics" as GWB's father, the smart Bush, called it did not work under Reagan, was disastrous under GWB and would be the deathblow to our economy if the American People were so stupid as to elect the POW and the Moose Hunter. We need competency and intelligence baby not tired slogans and bailouts for the rich cronies who are the Masters and the ones really calling the shots in the Republican Party.

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