SmallBusinessNewz

It was a perfect soundbite from the McCain campaign: vote in Obama and watch taxes skyrocket for small business. In a time of economic uncertainty, no one wants to see extra money flow into the black hole of Washington favoritism, never to be seen again.

FactCheck.org said McCain's claims represent a "false and preposterously inflated figure":

We find that the overwhelming majority of those small-business owners would see no increase, because they earn too little to be affected. Obama's tax proposal would raise rates only on couples making more than $250,000 or singles earning more than $200,000.

McCain argues that Obama's proposed increase is a job-killer. He has a point. It's true that increasing taxes on those at the top would leave them less money for other purposes, including investment and hiring in the case of business owners. But the number of business owners who would see their rates go up would be only a small fraction of what McCain says. Many would see their taxes go down.

"The analysis found the actual number of small-business owners who would face higher taxes under Obama's plan would be 'probably far below 663,608 [the number of small-business owners who make more than $200,000], and certainly a far cry from McCain's ridiculously inflated 23 million figure,'" the Washington Independent said of FactCheck.org's review.