Evidently, it’s a new era at Twitter because the social media platform fact-checked President Joe Biden’s official presidential account after he told a whopper so big concerning corporations not paying taxes that even they had to call him out over it.
“Let me give you the facts. In 2020, 55 corporations made $40 billion. And they paid zero in federal taxes. My Inflation Reduction Act puts an end to this,” Biden stated, telling an egregious lie.
The tweet contains context added by users who pointed out that Biden’s Inflation Reduction Act imposed a minimum tax on corporations with average pre-tax earnings greater than $1 billion.
The Inflation Reduction Act was signed into law in August 2022 and it imposes a 15 percent minimum corporate tax for companies earning more than $1 billion per year.
Let me give you the facts.
In 2020, 55 corporations made $40 billion. And they paid zero in federal taxes.
My Inflation Reduction Act puts an end to this.
— President Biden (@POTUS) October 29, 2022
Fourteen of the corporations that the president mentioned in his tweet had earnings that exceeded $1 billion and therefore would be eligible under Biden’s tax law. It should be noted that those large corporations were, in fact, paying taxes before the imposed mandate for taxation was implemented.
That same bill doled out $80 billion to the Internal Revenue Service over 10 years. More than half of those funds are meant to help the agency crack down on tax evasion by hiring 87,000 new agents and staff. Biden did not mention that little fact in his tweet where he railed against big business or the fact that most of those audited will be hard-working Americans.
Midterm elections are only a week out, so overblown political hyperbole is rampant. Biden leads the way in fibbing to help Democrats gain traction as they are widely expected to get hammered in the elections across the nation.
He either rants about “ultra-MAGA extremists” or brags about his own accomplishments in an effort to make Democrats look more competent. His efforts have had the exact opposite result.
Conservatives were thrilled that Biden no longer seems immune to fact-checking.
“Elon buys Twitter and now they’re fact checking liberals. Finally. I love it,” Army Ranger veteran and former US Senate candidate Sean Parnell (R-Pa.) tweeted in response to Biden’s false claim.
Elon buys Twitter and now they’re fact checking liberals. Finally.
I love it. https://t.co/da9yLXPVmL
— Sean Parnell (@SeanParnellUSA) October 30, 2022
“Omg that fact checked Biden. It’s like we’ve stepped into an alternate universe,” another user named Brennon Chapman commented.
“Check out the fact check below. I’m already loving @elonmusk‘s new @Twitter!” Virginia Delegate Glenn Davis tweeted.
Others pointed out that Biden’s Inflation Reduction Act doesn’t actually reduce inflation.
Here’s a fact, Jack: your “inflation reduction act” won’t reduce inflation, you WEF tool. pic.twitter.com/zaqXR30nTf
— Viva Frei (@thevivafrei) October 29, 2022
This is far from the first time that Biden has been caught tweeting “misinformation.” The only difference now is that Elon Musk is “Chief Twit” on the platform and he is being publicly called out for it.
In May, the president posted that there were no COVID vaccines available when he took office. He told that fib with a straight face despite the fact that he had already been jabbed twice. It should be noted that Twitter fact-checked him on that too and, after heavy backlash, the White House admitted the statement was not true.
We previously misstated that vaccines were unavailable in January 2021. We should have said that they were not widely available.
Vaccines became available shortly before the President came into office. Since then, he’s responsible for fully vaccinating over 200 million people. https://t.co/rHJ0GZ63Dy
— The White House (@WhiteHouse) May 13, 2022
Twitter users chimed in on Biden’s claim concerning corporations and his subsequent fact-check:
Remember this when the layoffs hit & the prices skyrocket this Spring.
— StockTips (@StockTipsTips) October 29, 2022
Let me give you the facts.
EVERYTHING has become much more expensive since Joe Biden became president.
— Real Defender🇺🇸 (@real_defender) October 29, 2022
A tweet from the offical account of POTUS gets flagged for lying.
— EricD 🇺🇲 (@TheMotleyMind) October 30, 2022
Democrats are incredibly excited about the massive spending bills they passed in Congress, but none of them are campaigning on the current state of the economy.
This is because:
Gas:⬆️ UP ⬆️
Groceries:⬆️ UP ⬆️
Energy:⬆️ UP ⬆️
Your Inflation Reduction Act did nothing.
— Benjamin Reidy (@benreidy_3) October 29, 2022
Your inflation reduction actually increasing inflation lmao🤣
— Andy Tran (@AndyTranCDL) October 29, 2022
So your plan is to increase taxes on corporations? Yep, that’ll definitely curb inflation. No chance those corporations pass those costs on to lower and middle class consumers by increasing prices to cover those costs, which would further fuel inflation. Right.
— TradingSystemsGroup (@TradingSysGroup) October 29, 2022
Your so called reduction act does NOTHING to lower inflation. pic.twitter.com/jrRqONyLot
— Deanna 🤍 🇺🇸 (@deeg25) October 29, 2022
— WE THE PEOPLE (@oneleftchosen) October 29, 2022
Get the latest BPR news delivered free to your inbox daily. SIGN UP HERE
DONATE TO BIZPAC REVIEW
Please help us! If you are fed up with letting radical big tech execs, phony fact-checkers, tyrannical liberals and a lying mainstream media have unprecedented power over your news please consider making a donation to BPR to help us fight them. Now is the time. Truth has never been more critical!
- Trump blasts Maggie Haberman for spreading fake narrative involving Melania: ‘Not angry at all’ - November 10, 2022
- Tiffany Trump ‘flipping out’, stuck inside evacuated Mar-a-Lago as hurricane changes wedding plans: report - November 10, 2022
- Transgender influencer livid after being thrown in Miami jail with male inmates: ‘Disturbing and dangerous’ - November 10, 2022
We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the ∨ icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.