More lies from lying Jay Severin, the liar

Didn’t have the recorder set up for this one so I can’t provide the full transcript, but on Wednesday, October 15, between 3:30 and 4:30 pm, Jay Severin made a couple statements that are – to use one of his favorite terms – demonstrably false.

Lie #1: Barack Obama’s plan for higher taxes only for those making $250,000 or more would apply to any small business with more than $250,000 in gross receipts.

Truth #1: The $250,000 level refers to personal income. While it’s true that small business EARNINGS are treated as wages for sole proprietorships and S-corporations, the amount of gross receipts has nothing to do with income tax calculations. This is spelled out clearly on Barack Obama’s web site:

As a small business owner who claims small business income on your individual tax return (whether through a sole proprietorship, partnership, or S-corp) you pay individual income taxes only on your net income — or profit — and not on your firm’s gross revenue. Accordingly, when Obama says that he would roll back the Bush tax cuts for all couples earning more than $250,000 a year, these income figures include only net income that a small business owner takes home. Because net income is usually far lower than gross revenue, even if your revenue is above $250,000 you are still likely to get a tax cut under Obama’s tax plan.

For more details on Obama’s tax plan, check out this fact sheet.

Lie #2: Barack Obama has refused to release his birth certificate.

Truth #2: His birth certificate is also on his web site. And now it’s on my web site, too:

Barack Obama's Birth Certificate

So what’s your defense, Jay? That Barack Obama is putting false information on his web site and that no other major media outlet has called him on it? I don’t think so, Jay. Stop lying.

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