President Biden on Friday was fact-checked by Twitter for inflating the number of corporations that were making billions.
In a tweet, purporting to give his followers “the facts,” the president asserted that 55 corporations made $40 billion in 2020 and “paid zero in federal taxes.”
The tweet included context added by readers, noting that Biden’s Inflation Reduction Act imposed a minimum tax on corporations with average pre-tax earnings greater than $1 billion.
It noted that of the 55 corporations mentioned by President Biden, only 14 had earnings greater than $1 billion and would be eligible under Biden’s tax law.
Biden’s tweet got some heat from critics:
“Let me give you the facts. The lower class Americans are spending every extra dime we have on food and gas and you don’t care. You do nothing about it. I want anyone but you. It can’t be any worse than you’ve made it,” one user wrote.
“Stop sending money to Ukraine when we have homeless people,” another user added.
“Let me give you the facts. $80+ billion has been sent to just Ukraine, and just this year so far. You say 55 corporations that made $40 billion is your main worry? I think it’s the midterms that worry you,” one user commented.
“Your so called reduction act does NOTHING to lower inflation,” another added.
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