“Look, folks, you know how many billionaires we have in America today? One thousand. You know what their average federal tax rate is? Federal tax rate is 8.5 percent.”
Joe Biden
U.S. president. in a speech in Raleigh, N.C.. Claim dated 18 Jan 2024.
Washington Post rated thisTwo Pinocchios
What Washington Post found
The math mostly adds up but Biden is assuming income not currently counted for tax purposes
Their words, from the summary they publish with the rating.
In short
Joe Biden (U.S. president) made this claim around 18 January 2024. Washington Post (United States) looked into it and published its finding on 23 January 2024, 5 days later. Its rating was “Two Pinocchios”.
Joe Biden has 509 checked claims in this archive. Fact-checking organisations rated 140 of them false or fake, 281 misleading or mixed and 34 true.
Where the claim appeared
Links recorded by Washington Post. Some posts may have been deleted since.
This check was done by Washington Post, not by DoesItStand. We list it so you can find it. Their full evidence and reasoning are in their article.