September 23, 2004

Let's not let facts get in the way ...

A current Bush/Cheney campaign ad says that John Kerry's tax proposals would raise taxes on nearly a million small businesses. FactCheck.org neatly blows this Dubya campaign claim out of the water:

A Bush-Cheney '04 ad claims Kerry would raise taxes on 900,000 small businesses and "hurt jobs." But it counts every high-salaried person who has even $1 of outside business income as a "small business owner" -- a definition so broad that even Bush and Cheney have qualified while in office. In fact, hundreds of thousands of those "small businesses" have no jobs to offer.

Furthermore, by the Bush definition 32 million "small businesses" would see no tax increase. The ad doesn't mention that, of course. Nor does it mention Kerry's proposals for some tax cuts specifically targeted for small businesses.

FactCheck.org goes into more detail, and presents the text of the Bush/Cheney ad here.

Posted by Magpie at September 23, 2004 11:57 AM | US Politics | Technorati links |
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Citizens for Tax Justice and the Institute on Taxation and Economic Policy just released a study that showed that 82 major U.S. corporations paid no federal income taxes at least once in the past 3 years. Of those 82 companies, 30 paid no taxes in at least two of the years. All of this occurred while those companies reported over $100 billion in profits during the years in which they paid no taxes.

Among the companies receiving the windfall of George W. Bush’s corporate tax policies were: AT&T, Boeing, Prudential Financial, Time Warner, Caterpillar, Pfizer, and the Walt Disney Company.

George W. Bush has given his rich friends, the richest 1% of all Americans, nice personal income tax breaks. Those same rich friends are the ones on the boards of these corporations. Now, these powerful companies fail to pay any corporate taxes, and increase their profit margins, which translates to additional wealth for the boards and officers of those companies.

Guess where the increased tax burden falls? That’s right, it falls upon you and me to make up the difference. While George W. Bush, Dick Cheney, and all of their corporate CEO friends get richer, we’re getting taken to the cleaners. Our wallets are being stolen right out of our back pockets. They’re getting rich at our expense.

It is policies like this that continue to prove to me that the American people don’t matter to the Bush administration. They only care about the corporate special interests.

Posted by: Ken Camp at September 23, 2004 03:30 PM