Economy and jobs

“World Economic Forum reported about the Omicron variant in July 2021”

FACTLY says: The World Economic Forum (WEF) did not report about the Omicron variant in July 2021. The WEF article that mentioned the B.1.1.529 or the Omicron variant was updated on 26 November 2021 to include the information about …

“Biden’s banking nominee demands all ‘private bank accounts’ be eliminated”

PolitiFact says: As a law professor, Omarova wrote about moving private accounts to the Federal Reserve. She did not demand that this happen.

“Never in American history has so much been spent at one time. Never in American history will so many taxes be raised and so much borrowing be needed to pay for this reckless spending.”

PolitiFact says: McCarthy is wrong on all three counts: taxes, spending, and debt.

“Under the Democrats’ Build Back Better bill, “the experts are telling us that 30% of middle class Americans will end up paying higher taxes” while giving “a tax break to two-thirds of the millionaires in America.”

PolitiFact says: The impact would be small in dollar and percentage terms, and they would result from the murky, indirect impact of a corporate tax hike, not a direct tax visible on a return or paystub.

“A website claiming to belong to Cooperative Bank offering a $3000 cash prize”

“But the House Democrats are saying openly that the tax credit for electric vehicles under their construct, the $4,500, the big part of it, will only be eligible for companies that hire union workers.”

FactCheck.org says: The House's Build Back Better plan calls for extending a $7,500 tax credit for the purchase of electric vehicles, and it includes an additional $4,500 credit for electric vehicles built in the U.S. by union labor.

“If you’re a low-wage worker and you’re single and don’t have children, we’re literally taxing you into poverty.”

“Claim: misleading being shared that Kerala govt reduced tax for petrol”

“If you take a look at gas prices and you take a look at oil prices, that is a consequence of, thus far, the refusal of Russia or the OPEC nations to pump more oil.”

PolitiFact says: Experts say Biden has some justification for his position. The U.S. could increase production on its own, but not as quickly or effectively as OPEC and Russia.

“You had a total of 14 — I think it was 14 — Nobel laureate economists in economics saying this is going to — what I’m proposing is going to reduce the inflation.”

Washington Post says: Circumstances have changed since the economists have issued the letter

“Claim: Fake news being shared that bjp protested in favor of fuel price hike”

“Wages have gone up higher, faster than inflation.”

PolitiFact says: Wages have risen faster than inflation in August and September, but not for Biden’s presidency as a whole.

“Three percent is not a modest tax increase, if you own a $100,000 home in the city of Buffalo, that means an extra $300 a year.”

PolitiFact says: Increasing the existing tax rate by 3 percent would lead to an eventual increase of about $30 for a home assessed at $100,000.

“The nation reported adding 194,000 jobs in September, and Florida accounted for 84,500.”

PolitiFact says: Florida had a great month for jobs, but his comparison of state and federal figures is more complicated than he lets on. It's also common for monthly numbers to jump around a lot; the previous month was much smaller.

“Why would people who did not protest for the hike in the price of rice and lentils which are essentials, protest for the hike in the price of luxury items like petrol?”

“Those who cannot tolerate the fuel price hike can go to Pakistan – BJP President Annamalai’s controversial speech.”

“Here’s the deal: If you spent $3 on your coffee this morning, that’s more than what 55 major corporations paid in taxes in recent years.”

Washington Post says: This is probably in the ballpark but the number is not based on an examination of tax returns.

“The Democrats $3.5 trillion spending plan would be the "largest tax increase in decades”

PolitiFact says: A House memo outlined tax increases, but they were largely for wealthy individuals and corporations. These tax increases are not final since the legislation is still being negotiated.

“Biden’s liberal plan would force many family farms and ranches to be sold off to pay his higher capital gains taxes.”

Washington Post says: The ad is exaggerated. Very few farms face estate-tax liability — and relatively few pay the estate tax.

“Terry McAuliffe’s new proposals will cost the average Virginia family over $5,000. … Terry’s new tax would actually be the largest tax increase in Virginia history.”

Washington Post says: This is based on a right-wing analysis of a partisan report; McAuliffe says he will not raise taxes.