Americans for Tax Reform-Fact Checking the Debate
16.10.2008 09:35 Political Press Releases
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To: POLITICAL EDITORS
Contact: John Kartch of Americans for Tax Reform, +1-202-785-0266; jkartch@atr.org
WASHINGTON, Oct. 16 /PRNewswire-USNewswire/ -- Americans for Tax Reform released the following post-debate fact check:
Obama claims that the 95 percent of taxpayers making less than $200,000 will get a tax cut under his plan. This is wrong:
-- According to Tax Foundation, 33 percent of households do not have an income tax liability: http://taxfoundation.org/research/show/23631.html
-- Obama tax cuts are mostly welfare spending: http://www.cbsnews.com/stories/2008/10/15/eveningnews/realitycheck/main4524944.shtml
There are 28 million small business owners in the U.S. Of these, about 3 million make $200,000 per year or more. Two-thirds of small business profits are earned by these business owners. Small businesses pay their business taxes on their personal returns, so increasing tax rates on these 3 million business owners increases taxes on two-thirds of small business profits: http://www.irs.gov/pub/irs-soi/06in14ar.xls
Small businesses (companies with

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