“There are 1,000 billionaires in America. You know what the average federal tax is for those billionaires? No? They’re making great sacrifices. 8.2%.”
What PolitiFact found
Biden makes it sound as though this is the actual tax rate the wealthiest Americans pay under current law. It's not. It's a theoretical calculation that includes forms of unrealized wealth that are not taxed today.
Their words, from the summary they publish with the rating.
In short
Joe Biden (president) made this claim around 7 March 2024. PolitiFact (United States) looked into it and published its finding on 8 March 2024, 1 day later. Its rating was “This is misleading”.
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.
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.