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View Diary: CBS misleads small businesses about the 'fiscal cliff' (11 comments)

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  •  Thanks! And I Think We Agree (5+ / 0-)

    ...the CBS story did a disservice to viewers for the reasons you and I each cited.

    The BLS numbers you provided give helpful context.  Typically, what has happened is that:

    1. Obama/Democrats say we should let the Bush tax cuts expire for those earning over $200,000 ($250,000) for families.  

    2.  Obama/Democrats go out to say that only about 2% of households would be impacted by that change.

    3.  Republicans point out that the new rates hurt what they (not the BLS) call "small business owners" who their personal taxes for their businesses.

    4.  People like me (and the Tax Policy Center) point out of that the 36 million "small businesses" like that include doctors, lawyers, Presidents, partnerships and S corporations like Bechtel.  Of these sole proprietorships and "small businesses" (some of which actually have thousands of employees - not "small" by anyone's definition.)  And only about 3% will pay higher taxes.

    5.  You're right that that statistic doesn't capture the impact of that 3% on total share of revenue and workforce.

    Unfortunately, Randall Pinkston didn't raise any of this.

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