Twitter slapped Joe Biden with another ‘fact-check’ this week after the Commander-in-Chief posted bogus claims about the amount of taxes paid by Billionaires in America.
“Look, I think you should be able to be a billionaire if you can earn it, but just pay your fair share,” Biden’s tweet read. “I think you ought to pay a minimum tax of 25%. It’s about basic fairness.”
“This claim has been repeatedly assessed as inaccurate. It relies on a theoretical calculation that treats unrealized capital gains (increase in the value of unsold stocks) as income even though current tax law does not. (Taxes occur once stocks are sold for profit.),” added Twitter’s Community Notes.
“I paid 53% taxes on my Tesla stock options (40% Federal & 13% state), so I must be lifting the average!” fired-back Twitter CEO Elon Musk. “I also paid more income tax than anyone ever in the history of Earth for 2021 and will do that again in 2022.”