What happened: McCain frequently says that Barack Obama would raise tax rates on 23 million small-business people who file tax returns as individuals.
Why that's wrong: "It's a false and preposterously inflated figure," concluded factcheck.org, the nonpartisan watchdog group at the University of Pennsylvania's Annenberg Public Policy Center. Many would pay higher taxes, the group said.
Urban Institute-Brookings Tax Policy Center says that considering Obama's $200K individual and $250K couple limit the number might be as high as 700,000 who would see tax increases. The exaggeration would only be 23M/700K or 35.8 times.
Now if you wanted a loan and exaggerated your $43K income by that amount your exaggeration would be $1,539,400 and that would land you in jail. Since John is just a politician and an old one and a POW nobody will get really riled...He's supposed to lie, he's BushCo's clone and a Republican to boot.