FACT CHECK: GOP adrift on small business claim

From the Associated Press via Yahoo News comes this little fact check pertaining to President Obama's tax plans:

 

WASHINGTON – Claims that President Barack Obama's tax plans are an assault on small business skirt the likelihood that most job-producing small businesses wouldn't feel that pinch at all.

Obama is proposing to raise taxes on households earning over $250,000 by increasing the rate on the top two tax brackets and limiting deductions, starting in 2011.

Republicans and other critics, knowing they will get little mileage from defending the rich, instead are casting the plan as a tax hit on people who run industrious little companies driving job growth.

That's not likely, according to one in-depth analysis, which found that more than 95 percent of small business owners would be off the hook.

Obama does not propose higher business taxes.

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