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Stopping the Expansion of the Bush Giveaways to the Rich Doesn’t Impact Small Businesses

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The GOP is Hiding Behind Small Businesses to Push Its Massive Expansion of the Bush Giveaways to the Rich and Major Corporations

• Republicans are not telling the truth when they claim the Democrats’ plan will hurt small businesses. They are using the same old, tired attacks that have been debunked for years. See here, here, here, here, here and here.

Here are the facts:

• 98 percent of small businesses would be unaffected under the Democrats’ plan. Only two percent of small businesses would be affected if we allowed the Bush tax giveaways for the rich to end.

• The vast majority of small businesses would not be affected by the Democrats’ estate tax plan. In fact, only 110 small businesses and farm estates in the country would have to pay the estate tax if we kept the rate at the 2009 level.

While in Office, George W. Bush Was a “Small Businessman” According to GOP Definition

In fact, using the GOP metric, the $84 that President Bush made from passive oil investments in 2001 made him a small business owner. Should we be counting on this kind of investment by the former president to create the massive number of jobs needed to counteract the effects of the Great Recession? [U.S. News, 8/13/10]

Additional Resources:

• WonkRoom: McConnell Falsely Claims That The Expiring Bush Tax Cuts For The Rich Affect Half Of Small Business Income
• U.S. News: Jobs and the Big Bush Tax Cut Bamboozle: Letting some of the Bush tax cuts slide won’t hurt small businesses
• WonkRoom: Under President Obama’s Plan For The Bush Tax Cuts, Everyone Still Gets A Tax Cut Compared to GOP-Passed Status Quo
• WonkRoom: Kyl Obstructs Small Business Tax Cuts In Order To Protect Small Businesses From Imaginary Tax Increase
• WonkRoom: Republicans Claim To Be The Defenders Of Small Business, While Filibustering Small Business Lending Bill

Tags: Fact Sheets

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