Identify the Type of Fallacy in the Following Passage

question 54

Short Answer

Identify the type of fallacy in the following passage.
Overheard: "You don't think this country is in a slump? Get real. George here was laid off before Memorial Day, and Howie's wife and a whole bunch of other people lost their jobs when the Safeway over on Jeffrey closed down. These are tough times."

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Definitions:

Temporary Difference

A discrepancy between the book value of assets and liabilities for financial reporting purposes and their value for tax purposes, resulting in deferred tax assets or liabilities.

Book Income

The income reported by a company in its financial statements, in contrast to taxable income calculated for tax purposes.

Taxable Income

is the amount of income used to calculate how much tax an individual or a company owes to the government, after all deductions and exemptions.

Temporary Difference

A difference between the book value and tax value of an asset or liability that results in taxable or deductible amounts in future years.