Tuesday, June 10, 2008

Fact check

McCain on business taxes:

Senator Obama’s plans would add to the difficulties of small business in other ways, too. Currently, there are the 21.6 million sole proprietorships filing under the individual income tax. When Senator Obama talks about raising income tax rates on those making over 250,000 dollars — that includes these businesses as well.

Tax units with business income high enough to make them subject to 33% or 35% rates (which Obama would restore to 36% and 39.6%, while leaving lower rates unchanged): 479,000.

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