Jul 07 2008
Some Creative Math From the McCain Camp on Tax Cuts
One of Sen. McCain’s advisors, former HP CEO Carly Fiorina, gets called out for her creative use of math regarding the impact her candidates tax cut plan would have on small businesses.
This morning at a Christian Science Monitor breakfast Carly Fiorina made the case that Obama’s proposed tax hike on those who make more than $250,000 a year would be damaging to small businesses…
Okay, let’s assume there are now 23 million small businesses in the U.S. today (the latest stats I could find were 21.5 million “schedule C” class businesses in 2005). There’s no way that all 23 million of those are netting more than $250,000. In fact, 94.5% of all “flow-through” entities (self-employed folks, which generally tend to be small businesses, though Tiger Woods also falls into this category) had receipts under $100,000 in 2007. - Time.com
Those of us in the technology field may recall that Carly Fiornia ran one of the most well respected and successful technology companies into the ground during her tenure as CEO, so this may come as no surprise to some that she’s now an economic advisor for the McCain campaign.