Biden's Twitter is fact-checked for claim billionaires only pay 3% tax as Elon ... trends now
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A tweet from President Biden has been fact-checked and labelled 'incorrect' after the White House claimed the average billionaire paid three percent in tax.
The president's account tweeted out a graphic of Biden on Saturday with a quote that read: 'You know the average tax billionaires pay? Three percent. No billionaire should be paying a lower tax than somebody working as a schoolteacher or a firefighter.'
Accompanying text said: 'Look, I think you should be able to be a billionaire if you can earn it, but just pay your fair share. I think you ought to pay a minimum tax of 25 percent. It’s about basic fairness.'
But it is not known where the three per cent figure originated from as it contradicts previous White House data and independent analysis.
Twitter boss Elon Musk also weighed in, questioning the tweeting and claiming he 'paid more income tax than anyone ever in the history of Earth for 2021 and will do that again in 2022'.
The president's account tweeted out a graphic of Biden on Saturday with a quote that read: 'You know the average tax billionaires pay? Three percent.'
Beneath Biden's tweet, a rather embarrassingly placed 'added context' tab discredits the 3 percent claim, labelling it as 'incorrect'
'Look, I think you should be able to be a billionaire if you can earn it, but just pay your fair share', Biden - pictured walking into the White House on Friday - was quoted as saying
Beneath Biden's tweet, a rather embarrassingly placed 'added context' tab discredited the three percent claim, labelling it as 'incorrect'.
'This is incorrect,' it reads. 'Avg income tax rate in 2020 was 13.6 percent. Top 1 percent of taxpayers paid a 25.99 percent avg rate, more than eight times higher than the 3.1 percent avg rate paid by the
