John Boehner Concedes That Reversing Bush Tax Cuts For Rich Affects Just 3% Of Small Businesses
Greg Sargent picks up on House Minority Leader John Boehner’s admission that just 3% of small businesses will be affected if the Bush tax cuts for the rich expire. Boehner made news by saying he’d settle for just a middle class tax cut if that’s all he could get. Boehner was also asked to respond to the 3% figure in a report by the Joint Committee on Taxation.
BOB SCHIEFFER: Do you quarrel with that figure? Is that a right figure or a wrong figure?
BOEHNER: Well, it may be three percent, but it’s half of small business income. Because, obviously, the top three percent have half of the gross income for those companies that we would term small businesses. And this is why you don’t want to punish these people at a time when you have a weak economy.
Boehner’s camp is still framing it that half of small business income would be affected by reversing the Bush cuts for the wealthy, but the more important figure is how many businesses would actually be affected.Click here for reuse options!
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