The debate between current VP Joe Biden and GOP challenger Paul Ryan veered toward the topic of small-business taxation, with Ryan arguing that the Obama Administration plan to raise taxes on small businesses earning more than $250,000 a year would cost jobs without benefiting the government or reducing the deficit. Biden countered that under Ryan’s definition, small businesses included many hedge fund operations and S Corporations that were actually multimillion-dollar enterprises and that 97% of American small businesses would not be subject to tax. A non-partisan fact-checker vetted Biden’s statements, leaving many to question Ryan’s argument. For more on this continue reading the following article from Blue MauMau.
Vice President Joe Biden and Republican candidate Paul Ryan (R-Wis) contested in a vice presidential debate at Centre College at Danville, Kentucky Thursday night. In the debate moderated by ABC News’ Martha Raddatz, small business tax policy became a point of disagreement.
Representative Ryan argued for the Obama administration not to raise taxes on small businesses. “President Obama thinks that the government ought to be able to take as much as 44.8 percent of a small business’ income,” said the GOP vice presidential candidate. He argued that it was useless to increase taxes on small businesses and the wealthy. He made a point
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