On MSNBC's Morning Joe, CNBC's Maria Bartiromo lied about tax increases for small business, and MediaMatters busted her:
small businesses, you know, are putting $250,000 in revenue out there, and they're going to get impacted -- and this is the single largest creator of jobs.
So Bartiromo says small business taxes will be raised if the business grosses over $250,000 in revenue. But that's a lie.
First, a small business that is not a personal business is taxed at corporate tax rates, which will not change under Obama's plan.
Second, a small business that is a personal business will only see higher taxes on the profit (i.e. personal income) that exceeds $250,000, not the gross revenue.