Excerpted from a CNN Fact Check written by Stacy Cowley:
(CNNMoney.com) — In speech after speech, presidential candidate John McCain hammers on the claim that his rival Barack Obama will raise taxes on many small businesses.
At the debate on Wednesday night, McCain said, “The small businesses that we’re talking about would receive an increase in their taxes right now.”
More typically he has said: “What [Obama] hasn’t told you is that he would tax half of the income of small businesses in America,” a line used in La Crosse, Wisc., last week.
Should small business owners fear for their wallets if Obama is elected? Not the vast majority, business and tax experts say.
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