ECONOMIC ILLITERACY: A WINGNUT PROBLEM

The voodoo "economists" like Hannity and Limbaugh always play Chicken Little when it comes to raising any taxes and because economic education is so poor in America, many people are fooled. For example, I've read and heard people claim that letting the Bush tax cuts lapse for people making over 200K - 250K will mean that many small businesses will go under. This is complete nonsense because the increase would be on individuals and the owner of a small business only pays individual tax on what he decides to pay himself.