McCain has repeatedly claimed that Obama would raise tax rates for 23 million small-business owners. It's a false and preposterously inflated figure.
We find that the overwhelming majority of those small-business owners would see no increase, because they earn too little to be affected. Obama's tax proposal would raise rates only on couples making more than $250,000 or singles earning more than $200,000.
McCain argues that Obama's proposed increase is a job-killer. He has a point. It's true that increasing taxes on those at the top would leave them less money for other purposes, including investment and hiring in the case of business owners. But the number of business owners who would see their rates go up would be only a small fraction of what McCain says. Many would see their taxes go down.
Also, be sure to check out Larry King tonight at 8:00 Central for a possible announcement from Jesse Ventura.
Update: Jesse Ventura has just announced on CNN that he will not be running for the Senate this year.
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Consider these facts :
Barack Obama has proposed raising the capital gains tax.
The McCains own between 40,000 and 80,000 shares of Anheuser stock
John McCain opposed and now supports the Bush Tax Cuts that lowered the capital gains tax rate to 15%.
We have no idea what the acquisition cost of the Anheuser stock is, but since it part of her inheritance, it is probably quite low. In February when the InBev purchase of Anheuser was made public, the share price was $47 and the deal will probably be above $67, the capital gains could be significant.
Now the question : Think about Tax Fairness … should working wages be taxed at a higher rate than passive capital gains income ?
And how do you think the Anheauser folks are going to vote ?
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