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Presidential Debate Fallacies, Part 3

Posted October 24th, 2008 by Mike Steigerwald

from The Fallacy Files

In their final debate, both McCain and Obama had some difficulty with the notion of "small" business:

McCain: I will not stand for a tax increase on small business income. Fifty percent of small business income taxes are paid by small businesses. That's 16 million jobs in America. And what you [Obama] want to do to Joe the plumber and millions more like him is have their taxes increased and not be able to realize the American dream of owning their own business. …

Obama: The last point I'll make about small businesses. Not only do 98 percent of small businesses make less than $250,000, but I also want to give them additional tax breaks, because they are the drivers of the economy. They produce the most jobs.

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