“The “average tax” for billionaires is “about 3%,” which is “a lower tax than a schoolteacher or a firefighter.”
What PolitiFact found
This refers to calculations made under a theoretical proposal. Under today’s laws, the 25 highest-earning billionaires paid an average tax rate of 16%.
Their words, from the summary they publish with the rating.
In short
Joe Biden (president) made this claim around 15 February 2023. PolitiFact (United States) looked into it and published its finding on 20 February 2023, 5 days later. Its rating was “False”.
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
- whitehouse.govhttps://www.whitehouse.gov/briefing-room/speeches-remarks/2023/02/15/remarks-by-president…
Links recorded by PolitiFact. Some posts may have been deleted since.
This check was done by PolitiFact, not by DoesItStand. We list it so you can find it. Their full evidence and reasoning are in their article.
Related checks
- FactCheck.org: Not the Whole Story“But no billionaire should be paying a lower tax rate than a schoolteacher or a firefighter.”