Republicans are pulling out the old "small business" card to fight an end to Bush-era tax cuts for the wealthy — generally people with TAXABLE income (after deductions) of more than $250,000. Only 3 percent of small businesses fall in that group. The Repubs are massaging the numbers to make the impact look worse. These small businesses are unusually profitable, the Repubs claim. Also not very small. Heard of Bechtel? PriceWaterhouse? The Tribune Companies? These are examples of "small businesses" that can't afford another couple of percentage points of income tax.
President Obama said today that the "math" simply doesn't support tax cuts for the rich.