Small Business, 2012 Presidential Election | featured news

President Barack Obama on Wednesday ordered a series of modest steps aimed at helping small businesses, his latest election-year effort to counter Republican attacks on his economic record and show voters he is trying to tackle high unemployment.

An Obama spokesperson pointed out 98 percent of taxpayers earn less than $250,000, and letting the tax cuts expire for the wealthiest Americans would impact less than 3 percent of all small businesses. Obama has cut taxes for small businesses 18 times, including eliminating capital gains taxes on the sale of some small-business stock, the re-election campaign said.