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Why doesn't Obama call Romney on his biggest lie about taxes? Does he not know the truth himself?

Romney keeps repeating the lie about small business owners who are taxed as individuals, saying a 4% increase on income above $250 will cost jobs. All the president seems to be able to say in response is that only 3% of business owners fall into that income category. While this is true, it's not really the point.

The fact is that business owners don't use their personal income to pay employees. Raising the rate they pay on their personal income would not affect jobs at all. Employee salaries are deducted before taxes are applied.

Hey Krose

Yea, I am sure that this debate is driving many of our beloved MDB members nuts.

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Of course, there are a few of us that are really enjoying Mr. Romney.

The last 80 minutes has me considering a possible conversion to Mormonism!

Peace,
Ceeboo

Fact checkers are going to be busy dismantling Romney's numerous rants.

I suspect Obama is holding back because he is alteady up in the polls and has more to risk by going after Mitt aggressively. You can tell Romney is desperate, throwing the kitchen sink and all.

Hey Kevin

Kevin Graham wrote:I suspect Obama is holding back because he is alteady up in the polls and has more to risk by going after Mitt aggressively.

Yea........... holding back. That must be it.

You can tell Romney is desperate, throwing the kitchen sink and all.

What channel were you watching?

(Hoping you take this with the smile with which it was typed)

Peace,
Ceeboo

krose wrote:Why doesn't Obama call Romney on his biggest lie about taxes? Does he not know the truth himself?

Romney keeps repeating the lie about small business owners who are taxed as individuals, saying a 4% increase on income above $250 will cost jobs. All the president seems to be able to say in response is that only 3% of business owners fall into that income category. While this is true, it's not really the point.

The fact is that business owners don't use their personal income to pay employees. Raising the rate they pay on their personal income would not affect jobs at all. Employee salaries are deducted before taxes are applied.

Do you know where the 3% comes from? I have bunches of small business cleints that own pass through entities and would thus see higher taxes on their small business income. If corporate taxes are cut I think they should also cut the rates the same on pass through income from S Corps and Partnerships.

Yes salaries are deductible. But higher taxes do mean less profits for say expansion. I have a client that wants to vertically integrate his manufacturing business and doing so could add 10-15 jobs. But he says if his taxes go up it will hurt cash flow enough that he may reconsider.

krose wrote:Why doesn't Obama call Romney on his biggest lie about taxes? Does he not know the truth himself?

Romney keeps repeating the lie about small business owners who are taxed as individuals, saying a 4% increase on income above $250 will cost jobs....

You are right of course. But do you think that in a debate format the President could have explained this in a way that anybody would understand that didn't already know the truth? The way changes in the marginal tax rates affect the utility curve of a business owner isn't something he could explain without confusing his target listeners.

Overall, Obama came through as being a lot mroe sincere and secure. Romney came across as being scared and having that vibe that killed McCain 4 years ago. More fundamentally, Romneey's points all seemed to come down to the assertion that the President was to blame for the bad economy, and that if he were president, his Voodoo economics would magically make the economy wonderful. I wasn't convinced.

Kevin Graham wrote:Fact checkers are going to be busy dismantling Romney's numerous rants.

I suspect Obama is holding back because he is alteady up in the polls and has more to risk by going after Mitt aggressively. You can tell Romney is desperate, throwing the kitchen sink and all.

I don't think he seemed desperate but he was borderline too aggressive. Obama seemed disengand to me and almost bored. He did better near the end and seemed to have more energy.

Slight Romney victory on style but he lied a ton (on tax cuts for rich especially) but successfully sidestepped around Medicare vouchers for people 54 and under. Obama should pound a Red Bull or something, he was very passive. Reminds me of 2004 when Kerry cleaned Bush II's clock in the first debate.

Seriously?

Romney dominated that debate!

Dominated!

Peace,
Ceeboo

Bond what tax cuts does Romney propose for the rich?