From the claim against President Obama’s proposed tax bill that most small businesses would be hurt by it to the old, now renewed claim that small businesses are the engine of American job creation, the GOP is simply full of it.
For small businesses whose owners file under personal income taxes, 95 percent will fall below the $250K cutoff for bumping taxes up.
As for job creation? Many small biz are solo partnerships, like lawyers or real estate agents who work at home without even a secretary.
Of small biz that do create other jobs? Remember, an independent McDonald’s franchisee or Dollar General store is a small biz. Is that the type of jobs we want to make up the bulk of new American jobs?
Finally, while small businesses may indeed create many new jobs, about 1 in 3 fail after a year; a second 1 in 3 within 3-5 years.
So, small businesses are also the greatest job destroyer in America.
The GOP will never tell you that, though.
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