Media Matters:
"Summary: The Politico and the AP forwarded the false Republican talking point that President Obama's proposals to let the Bush tax cuts for wealthy taxpayers expire and reduce the tax rate at which wealthy taxpayers could take itemized deductions would increase taxes on a large percentage of small businesses. In fact, according to the Tax Policy Center, just 2 percent of tax returns that reported small business income in 2007 are in the top two income tax brackets, which include all filers with taxable incomes that would be affected."
