Fact-Checking The Debate
Among the false claims:
There is a basic problem with the argument, made by several candidates, that the government forced mortgage lenders to make bad loans: most subprime loans were made by companies that were not subject to any kind of federal regulation…
Herman Cain suggested that the chief problem holding back companies was regulatory uncertainty. Other candidates, including Gov. Rick Perry of Texas, have made similar claims about regulatory burdens.
But if you look at surveys of small businesses conducted by the National Federation of Independent Business, a plurality of companies consistently say that the “single biggest problem” they face is low sales, not red tape or taxes…
Representative Michele Bachmann points out that 47 percent of Americans pay no federal income taxes. She is unusual among the candidates in using such specific numbers, and once again, the number itself is correct.
But many of those same people are subject to federal payroll taxes, meaning that Uncle Sam still gets a portion of their paycheck — not to mention the fact that many pay state and local taxes.