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[RBS]

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[Tom Storer]

I didn't see the debate and I haven't read the transcript yet. Can someone explain what was said about wood? Everybody's cracking jokes about wood all of a sudden.

[BFrank]

Mr. Kerry: --you can't stop all outsourcing, Charlie. I've never promised that. I'm not going to because that would be pandering. You can't. But what you can do is create a fair playing field, and that's what I'm talking about.

But let me just address what the president just said. Ladies and gentlemen, that's just not true what he said. The Wall Street Journal said 96 percent of small businesses are not affected at all by my plan. And you know why he gets that count? The president got $84 from a timber company that he owns, and he's counted as a small business. Dick Cheney's counted as a small business. That's how they do things. That's just not right.

Mr. Bush: I own a timber company? That's news to me. Need some wood?

Most small businesses are Subchapter S corps, they just are. I met Grant Millicron, Mansfield, Ohio. He's creating jobs. Most - most small businesses - 70 percent of the new jobs in America are created by small businesses. His taxes are going up when you run up the top two brackets. It's a fact.

[Nefertiti]

An analysis by the Annenberg Public Policy Center's FactCheck.org and other independent groups 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 Urban-Brookings Tax Policy Center projected that nearly 1 million people would fall into this category, but only half get most of their income from the business and only 471,000 of them have employees.

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

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

The Annenberg analysis said 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://www.signonsandiego.com/news/p...factcheck.html