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Originally Posted by summerkc
I'd like to disspell this new myth that the democrats have started saying.
Bush had a small ownership in a oil and gas company that later branched out into a timber business. This misunderstanding came out as a result as an error on factcheck.org and they have retracted that statement and corrected the error.
This is along the same lines as dems saying that Bush banned stem cell research. The only thing that Bush did was to not give any political funds to any new embyonic stem cells. There is still government funding for the original line of embryonic stem cells and there is full funding for adult stem cells which have shown more promise for cures than embryonic stem cells. Also, there is no ban on private funding to embryonic stem cells so if you believe in this, donate!
This type of stuff happens all the time on both sides and it drives me crazy.
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http://www.factcheck.org/article.aspx@docID=275.html
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Bush's Timber-Growing Company
Bush got a laugh when he scoffed at Kerry's contention that he had received $84 from "a timber company." Said Bush, "I own a timber company? That's news to me."
In fact, according to his 2003 financial disclosure form, Bush does own part interest in "LSTF, LLC", a limited-liability company organized "for the purpose of the production of trees for commercial sales." (See "supporting documents" at right.)
So Bush was wrong to suggest that he doesn't have ownership of a timber company. And Kerry was correct in saying that Bush's definition of "small business" is so broad that Bush himself would have qualified as a "small business" in 2001 by virtue of the $84 in business income.
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.
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Doesn't look like they retracted it to me. Not to mention Kerry's point is still valid reguardless of what time of buisness it is. His point was that Bush uses such a broad term to define small buisnesses that it inflates his stats (factcheck.org talks about this) Someone making $84 off a LLC should not be counted in the presidents stats of small buisness owners that will suffer and thus fire it's employees.