Congratulations! You are too smart to work at CNBC!
From Media Matters comes this report:
During the February 26 edition of MSNBC’s Morning Joe, CNBC host Maria Bartiromo asserted that among the “unintended consequences” of President Obama’s proposal to let the Bush tax cuts on wealthy taxpayers expire is that “the bottom line is small businesses … are putting $250,000 in revenue out there, and they’re going to get impacted, and this is the single largest creator of jobs.”
Obviously, this is incompetently erroneous at best. The Obama tax plan focuses on raising marginal income tax rates and reducing income tax deductions for individuals earning more than $200,000 per year and for couples earning more than $250,000 per year.
Moreover, Bartiromo’s suggestion that doing so would be a tax increase for most small businesses is also false: as Media Matters for America documented, according to the Tax Policy Center’s table of 2007 tax returns that reported small business income, 481,000 of those returns — about 2 percent — are in the top two income tax brackets, which include all filers with taxable incomes that would be affected.
Two percent? My God, this man is history’s greatest monster, somebody stop him! I only hope that someday soon, these news folks will understand how many bloggers there are out there with OCD and too much time on their hands, willing to hunt down details like this and nail ’em for it.