I own a Lumber Company - Want Some Wood?

[GWB]

It must be true, John Kerry said so.

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[wacki]

What was Kerry talking about anyway? That couldn't be a complete fabrication, was it?

[jdl22]

And it only took 10 seconds of dead air to come up with that line. What a comedic genious!

[wacki]

Maybe Bush was in shock... I know I was.

Besides, it made me chuckle. I didn't laugh, but I chuckled.

[Zim]

Kerry startled Bush by saying that the president is counted as a small business for tax purposes because he once earned $84 from a timber company he owns.


"I own a timber company?" Bush asked. "That's news to me." Then he paused and added, "Need some wood?"


That baffling exchange arises from an analysis by the Annenberg Public Policy Center's FactCheck.org debunking Bush's claims that Kerry's plans to raise taxes on the richest Americans would increase the tax burden on 900,000 small businesses.


The analysis found that the Bush campaign is counting every rich person who has even $1 of outside business income as a small business owner, even if they have no employees.


The analysis said even Bush qualifies under that definition because he reported $84 in income from his part-ownership of a timber enterprise on his 2001 federal tax return.




http://story.news.yahoo.com/news?tmpl=story&u=/ap/debate_fact_check

[jdl22]

They said on NBC that Kerry was referring to Bush claiming $84 as income from owning a small share of a timber company. As such in 2001 he would be considered a small business owner according to his way of thinking about business owners. That is why the 900,000 figure is too high. For more see the discussion between Edwards and Cheney on factcheck.org.

[wacki]

Damn, that is a fast article. Will read in the morning.....

The sangria has me going wawawwawawwawwawwawawwawawawawa....

Nice post tho.

[Dynasty]

Bush is obviously a skilled politician. The last President couldn't get away with that response.

[GWB]

Does anyone seriously think that Kerry, Gibson, and I were the only people in that room that earn at least $200,000? With all the liberal activists who slipped in pretending to be "undecided" voters, I am sure that is not true.

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[ChristinaB]

So Bush doesn't even know what is on his own tax returns?

[jdl22]

Apparently not. Though that probably isn't too unusual for people that simply hire a CPA or big tax company to do their taxes for them.

[whiskeytown]

hmmmm...let the Karl Rove spin begin...

already, the major news orgs. around the country are checking the facts and finding that yes, GWB did get $84 in small business income from a timber company.

and using GWB's Gorilla math, would be one of 900,000 small businesses getting a tax hike. Not in the real world of course, just in Kerryland - a place like neverland that exists nowhere but in the paranoid rantings of the Right...but nevertheless -

I think this is gonna be one of those little things that highlights the cluelessness of the man...sorta sticking one's foot in a mouth after setting it on fire - that little slip up and undeserved quip afterwards is going to cost him the presidency... - sorta like Dukakis in the tank in '88

no one remembers any of the other errors made by either side in the debate, just Kerry's point and GWB stepping in a big pile of crap.. /images/graemlins/grin.gif

nice of you to shoot yourself in the foot, GWB. - gratsi.
/images/graemlins/grin.gif
RB

[GWB]

BREAKING NEWS - Kerry was wrong on Lumber Company:

Kerry stated that I earned $84 from a lumber company. FactCheck.org now reports that his statement was false!

Kerry got his information from an article we posted Sept. 23 stating that Bush on his 2001 federal income-tax returns "reported $84 of business income from his part ownership of a timber-growing enterprise." We should clarify: the $84 in Schedule C income was from Bush's Lone Star Trust, which is actually described on the 2001 income-tax returns as an "oil and gas production" business. The Lone Star Trust now owns 50% of the tree-growing company, but didn't get into that business until two years after the $84 in question. So we should have described the $84 as coming from an "oil and gas" business in 2001, and will amend that in our earlier article.


So the $84 was earned before the company acquired the lumber business. I had no lumber related earnings, Kerry got it wrong!

[Kurn, son of Mogh]

Still not as good a one-liner as "You forgot Poland" /images/graemlins/cool.gif

[Knockwurst]

Uh, okay, GWB, you gott'em there, so that makes his whole point moot about your small interest in a schedule C company counting as a small business according to your fuzzy accounting.

In any case, "Need wood?" has to be one of the most inane comments to come out of a candidate's mouth during a presidential debate in a while.

[cardcounter0]

Instead of being the small business owner of a lumber company, he was a small business owner of a oil and gas company. The same fuzzy logic applies.

[Nepa]

Didn't your Dad own a Fish oil company?

[Knockwurst]

/images/graemlins/smile.gif

[Knockwurst]

I think one brother had an interest in woman's hosiery.