Debate 1: Obama, Romney Spar Over How to Tax Small Business
image credit: Oped News
In case you were too busy running your business last night to tune into the first presidential debate in Denver, here’s a recap: Both candidates talked about their support for cutting taxes for small businesses in some way, but they sparred over what is actually considered a small business.
Overwhelmingly — from polls to political pundits to the Twitterati — former Massachusetts Gov. Mitt Romney was considered the winner of the debate. In the first few minutes, Romney recounted a five-step plan he has for creating jobs that he previously outlined at the Republican National Convention. One of the five key components to his plan is to “champion small business.”
“It’s small business that creates the jobs in America. And over the last four years small-business people have decided that America may not be the place to open a new business, because new business startups are down to a 30-year low,” Romney said. “I know what it takes to get small business growing again, to hire people.”
President Barack Obama acknowledged that he and Romney “do share a deep interest in encouraging small-business growth” and he touted that he has cut taxes for small businesses 18 times throughout his four years as president. He pledged to continue cutting tax rates for small businesses, and families.
While both candidates agreed that they want
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