Social media posts have misrepresented a tax proposed in President Joe Biden’s fiscal year 2025 budget. The 25% tax on unrealized capital gains would apply only to those who have a net worth of more than $100 million, not to all taxpayers as the online posts misleadingly claim.
Issues: Taxes
Trump TV Ad Falsely Claims Harris Has ‘Unleashed’ IRS on Tipped Workers
The Internal Revenue Service did not implement a new voluntary program that certain employers could have used to report tips earned by their workers. But the proposal is partly the basis for a Trump campaign TV ad that falsely claims Vice President Kamala Harris “weaponized” and “literally unleashed” the IRS on tipped workers.
Final Night of the Democratic National Convention
Third Night of the Democratic Convention
Day 2 of the Democratic National Convention
Opening Night of the Democratic National Convention
Trump Distorts the Facts in Attacks on Harris
Final Night of the GOP Convention
FactChecking Biden’s NBC News Interview
In an interview two days after an attempted assassination of former President Donald Trump, President Joe Biden drew contrasts between himself, his Republican challenger, and Trump’s newly selected vice presidential running mate, Sen. JD Vance of Ohio. We found that Biden made some claims that were misleading, exaggerated or out of context.