Did Pepsi Donate $100M to Black Lives Matter?
In the summer of 2020, readers sent Snopes multiple inquiries about widely shared social media posts claiming that PepsiCo, the company that makes Pepsi, had donated $100 million to the Black Lives Matter (BLM) movement. In May 2020, a Black man named George Floyd died in police custody in Minneapolis, Minnesota, prompting a renewed wave of nationwide and international protests against racial injustice and police brutality. The BLM movement spearheaded much of that protest and debate, and in response, critics of the protests targeted BLM, often deploying false, exaggerated, or distorted allegations.  targeted During the summer of 2020, those critics sought to target several major U.S. companies, including PepsiCo, by claiming they had each donated substantial amounts to BLM. Social media posts in July read that: Social media posts BankofAmerica Gave them $1 BILLIONPepsiCo - $400 MILLIONWalmart - $100 MILLIONApple - $100 MILLIONComcast - $100 MILLION Right-wing activist Charlie Kirk alluded to an incident in St. Louis, Missouri, in June 2020, in which local residents Mark and Patricia McCloskey pointed firearms at protesters, writing on Twitter:  pointed firearms writing "In America if terrorists show up to your home, you get charged for showing that you own a weapon after they tear down your gate. And the thugs who entered on to your property get $400 million from PepsiCo. as a reward." In August 2020, social media users focused on PepsiCo, and the amount of the company's purported donation to BLM shifted from $400 million to $100 million, for reasons that are unclear, but may have resulted from a misreading of earlier posts that claimed Walmart, Apple, and Comcast had each donated $100 million to BLM.  A typical version of the post claimed that: "PEPSI JUST GAVE BLM A HUNDRED MILLION DOLLARS... PLEASE BOYCOTT PEPSI!" typical version post claimed   The August posts that claimed PepsiCo had given $100 million to BLM appeared to have been based on the earlier claims that the company had donated $400 million. In turn, those earlier posts stemmed from an announcement the company made in June 2020. On June 16, PepsiCo CEO Ramon Laguarta wrote: wrote "Today, I am announcing the next step in PepsiCos journey for racial equality: a more than $400 million set of initiatives over five years to lift up Black communities and increase Black representation at PepsiCo. These initiatives comprise a holistic effort for PepsiCo to walk the talk of a leading corporation and help address the need for systemic change." Specifically, the company pledged to spend, over the course of five years: We asked PepsiCo whether it, or any charitable entities associated with the company, had donated to groups or projects associated with BLM, including the Black Lives Matter Global Network Foundation, a Delaware-registered entity that is one of the leading formal embodiments of the movement. We also requested a list of any recipients of charitable disbursements from the $400 million investment announced in June. We did not receive a response in time for publication. However, since $415 million was reserved for supporting Black-owned suppliers, restaurants, and small businesses, as well as starting a fellowship program, it was therefore mathematically impossible for $100 million to have been pledged for BLM. The only component of that spending that appears to leave room for any involvement with BLM is the $6.5 million reserved for "community impact grants to address systemic issues." So even if that entire portion of funding went to BLM, it would still constitute only a small fraction of the $100 million and $400 million claimed in social media posts in the summer of 2020. None of those who promoted those claims presented any evidence that linked PepsiCo's pledged investment with specific, named organizations or projects associated with the broader BLM movement or the Black Lives Matter Global Network Foundation. The claim that PepsiCo had donated $100 million (or $400 million) to BLM appeared to be based on a basic misunderstanding of the company's June 2020 announcement  or the false assumption that any investment associated with the Black community or rectifying racial injustice must be directly connected to BLM.  Laguarta, Ramon.  "Pepsico's Journey to Racial Equality: A Message from Our CEO."
  PepsiCo. 16 June 2020.
Those billboards around Milwaukee featuring Mayor Tom Barretts mug and a claim he saved Milwaukee $25 million are clever if you slow down to read the punch line.If you can do it without driving your car into an embankment, youll see theyare sponsored by the conservative Wisconsin Club for Growth and give credit to Barretts once -- and possibly future -- gubernatorial rival, Scott Walker, for making the savings possible.Barrett, the signs smaller print says, got the savings thanks to Gov. Scott Walkers reforms.The billboards hit on a theme voters undoubtedly will hear over and over from Republicans if Barrett takes on Walker in a possible recall election in 2012.The billboards refer to Walkers controversial budget legislation that took health care and pensions out of collective bargaining for most public employees.That allowed local governments and schools to impose cost-sharing for those benefits instead of negotiating with labor leaders.Barretts campaign, reacting tothead, denounced it as completely off base,in a statement toWTMJ4that said: The only thing accurate about that billboard is the picture of Tom Barrett.Whats the truth?Club for Growth didnt respond, but the Journal Sentinel reported in August that the city of Milwaukee will indeed save $25 million in 2012 just on health care costs, in large part by asking employees to pay more.In fact, Barretts budget document said revisions to the citys health insurance -- the ones made easier by Walkers changes -- would help drive overall health care costs down for the first time in more than 20 years.We contacted the same Milwaukee budget official quoted in August 2011, and he told us the city still expects a $25 million drop in health costs.Case closed?The official, city economist Dennis Yaccarino, says the $25 million actually overstates savings related to the Walker budget alone. He said city officials didnt make that clear in early August when a Journal Sentinel reporter first got the number from the city and published the $25 million figure in the context of Walkers changes. Thatstoryran Aug. 8, 2011.The newspaper followed upAugust 21, 2011, quoting city officials saying $6 million of that savings number was from the citys own decision to switch from an insured HMO to a self-funded approach due to projected cost savings. The $6 million switch is noted that way in Barretts budget.The move, we should note, was negotiated with the citys largest union two years ago but was not put in place until now for reasons unrelated to the state budget, according to Yaccarino and Richard Abelson, executive director of the American Federation of State County and Municipal Employees, which represents general city employees.Yaccarino said the city calculated in 2011 that it was paying a profit to its carrier and could keep the money for itself by going self insured. That scenario had not existed until 2011, hence the delay, he said.So that leaves $19 million of savings for Milwaukee from Walkers original budget plan and the amended one he signed, right?Not exactly.Remember, the $25 million figure is just on the health care costs side fo the equation. What about public employees paying more in pension costs? Thats the second part of Walkers limits on collective bargaining over benefits. Milwaukee didnt put them in place due to questions about the legality of the state changes as they apply to Milwaukee. So thats a 0.Finally, city official note Walkers overall budget cut municipal aid, leaving the net savings to the city much reduced from $19 million.But the billboard refers to Walkers reforms, which is the changes tied to  the collective bargaining issue. It is making a narrower claim, on how much was saved from the reforms, not how the city fared overall.Our conclusionBillboards say Walkers reforms allowed Milwaukee Mayor Tom Barrett to save $25 million for the city.The city is that much ahead, but a portion was Barretts doing before Walkers budget was enacted.We rate the claim Mostly True. On 5 February 2018, Shaun Usher, the owner of the blog "Letters of Note" posted an image on Twitter that purported to show Donald Trump opining that any president presiding over the United States during a stock market crash of more than 1,000 points should be "shot out of a cannon." blog image Although the image was intended to poke fun at now-President Trump's prolific Twitter use and his timeline that has offered a running joke that puts his past criticisms of his predecessor, former President Barack Obama, in context with current events (such as a precipitous stock market drop a few hours before), this tweet was not real: before   Sweet mother of god. Not for one second did I think people would believe that to be genuine.  Shaun Usher (@ShaunUsher) February 5, 2018 February 5, 2018 omg it's everywhere. What have I done.  Shaun Usher (@ShaunUsher) February 5, 2018 February 5, 2018 siri can i be arrested for making a fake tweet  Shaun Usher (@ShaunUsher) February 5, 2018 February 5, 2018 In a message sent via Twitter, Usher confirmed he was the tweet's author and that it was not real. He told us: Naively thought it too ridiculous to be believable. Says a lot, really. Was going to delete it but it was everywhere within minutes: feels like I need to leave it up in its place of birth. President Trump has legitimately tweeted about the stock market in the past, however: tweeted   Creating fake tweets is extremely easy and can spread virally within minutes  as Usher has now demonstrated, even if unintentionally. fake tweets On 24 September 2016, the Associated Media Coverage fake news site, which has now rebranded itself as the Boston Tribune,  published an article reporting that a woman with a concealed carry permit had saved multiple lives by stopping a department store shooter: article 37-year old Lisa Harris saved the lives of multiple people after using her concealed carry pistol to take down a department store shooter in Virginia. According to witness statements, the shooter, who has since been identified by police as 41-year old Randall Pierce, entered Bradfords department store Saturday evening at approximately 5:10 PM. According information provided by Chief of Police Matthew Collingsworth during a press-conference, the security footage provided to investigating officers by the Bradfords loss prevention department shows an agitated Randall Pierce walking briskly throughout the department store for approximately 6-minutes prior to retrieving a .223 caliber AR-15 assault style rifle concealed under his long-jacket. There was no truth to this report. Associated Media Coverage is a well-known purveyor of fake news that has been shamelessly exploiting recent occurrences of gun violence by publishing fabricated clickbait stories reporting similar incidents (in this case playing on the 23 September 2016 shooting deaths of five people at the Cascade Mall in Burlington, Washington). purveyor deaths Although many readers may now be familiar with Associated Media Coverage's reputation, the site has recently started publishing articles under the banners of fictitious newspapers such as The Boston Tribune and The Baltimore Gazette:  While Associated Media Coverage may be changing their name to The Boston Tribune, their content is still nothing more than fake news. On 7 February 2017, Betsy DeVos was confirmed as Secretary of Education in the new Trump administration by a narrow 51-50 margin, with the tie-breaking vote being cast by Vice President Mike Pence. All of the votes approving DeVos were cast by Republican senators, leading some of her detractors to posit the theory that she had essentially paid for her position via campaign contributions. That theory was illustrated by several charts circulated online that allegedly documented the amount of money DeVos had contributed to various senators:  The above-displayed chart first appeared on Reddit, but the data it incorporates was taken from a report published by the Center for American Progress. That report included another chart showing the DeVos family's campaign contributions: Reddit  A similar report filed by the Center for Responsive Politics stated that "Betsy DeVos and her relatives have given at least $20.2 million to Republican candidates, party committees, PACs and super PACs" since 1989: report In the 2016 cycle alone, the family had given at least $10 million as of late October to a host of GOP candidates and committees. Much of that  $4.4 million  went to super PACs: those supporting the White House bids of Sens. Marco Rubio and Ted Cruz as well as former Florida Gov. Jeb Bush and businesswoman Carly Fiorina, and the Koch brothers-backed Freedom Partners Action Fund and the super PAC started by Republican strategist Karl Rove, American Crossroads; the latter two groups helped support numerous Republicans in tight House and Senate races. However, these charts don't show how much Betsy DeVos personally contributed to Republican campaigns.  A second chart from the Center for Responsive Politics documented that Betsy DeVos herself was only responsible for about 7% of these contributions:  It should also be noted that these charts tally cumulative donations made over the span of two and a half decades (although the 2016 campaign cycle comprised the bulk of those donations). None of this information in itself establishes that the contributions were made with the intent of gaining office for Betsy DeVos, or that they had that effect (intended or not).  Republican senator Lisa Murkowski of Alaska, for example, received $43,200 from the DeVos family but voted "No" during Betsy DeVos' confirmation hearing. And although nearly all the Republican senators who had received contributions from the DeVos family voted "Yes," so did all the Republican senators who had not received any contributions from the DeVos family. The Washington Post posited a much more likely explanation for the confirmation vote breakdown  partisanship: posited If Democrats controlled the Senate, DeVos would have lost her confirmation. Theres every reason to believe that [Senate Majority Leader Mitch] McConnell let [Susan] Collins and Murkowski vote no on DeVos for political reasons, holding enough votes in reserve to assure shed win. The motivation was partisan support for a Republican nominee, not that a small fraction of his past campaign financing depended on DeVoss generosity. The Washington Post also noted that while the DeVos family contributed millions of dollars to Republican candidates, their contributions constituted only a sliver of the total money raised by those campaigns:  It's no secret that DeVos and her family have been major donors to the Republican Party over the last few decades. In 1997, DeVos wrote that her family was the "largest single contributor of soft money" to the Republicans: I know a little something about soft money, as my family is the largest single contributor of soft money to the national Republican party. Occasionally a wayward reporter will try to make the charge that we are giving this money to get something in return, or that we must be purchasing influence in some way. [...] They are right. We do expect some things in return. We expect to foster a conservative governing philosophy consisting of limited government and respect for traditional American virtues. We expect a return on our investment; we expect a good and honest government. Furthermore, we expect the Republican party to use the money to promote these policies, and yes, to win elections. During DeVos' confirmation hearing in January 2017, Senator Bernie Sanders asked her about how much her family had contributed to the Republican Party over the years, and she averred that an estimate of about $200 million might be accurate: confirmation hearing Sanders: Mrs. DeVos, there is a growing fear, I think, in this country that we are moving toward what some would call an oligarchic form of society, where a small number of very, very wealthy billionaires control, to a significant degree, our economic and political life. Would you be so kind as to tell us how much your family has contributed to the Republican Party over the years? DeVos: Senator, first of all thank you for that question. I again was pleased to meet you in your office last week. I wish I could give you that number. I dont know. Sanders: I have heard the number was $200 million. Does that sound in the ballpark? DeVos: Collectively? Between my entire family? Sanders: Yeah, over the years. DeVos: Thats possible Sanders: Okay. My question is, and I dont mean to be rude. Do you think, if you were not a multi-billionaire, if your family has not made hundreds of millions of dollars of contributions to the Republican Party, that you would be sitting here today? DeVos: Senator, as a matter of fact, I do think that there would be that possibility. Ive worked very hard on behalf of parents and children for the last almost 30 years to be a voice for students and to empower parents to make decisions on behalf of their children, primarily low-income children. Senate education committee Chairman Lamar Alexander (R-Tenn.) told Politico that the DeVos family's contributions were made legally and were properly disclosed: Politico All of that is disclosed, Alexander said. You can ask those senators and evaluate it yourself. Thats the reason we have limits on campaign contributions and we have disclosures of those things. A spokesperson for Florida senator Marco Rubio, who was singled out for having received nearly $100,000 from the DeVos family, defended his acceptance of those contributions: singled "People contribute to Senator Rubio's campaign because they support his agenda. Ms. DeVos is a strong supporter of empowering parents and providing educational opportunity for all, policies Senator Rubio has supported for over a decade. Her nomination was opposed by Democrats who take millions of dollars from the big unions obsessed with denying school choice to low-income children.  Brown, Emma.  "With Historic Tiebreaker from Pence, DeVos Confirmed as Education Secretary."
  The Washington Post.  7 February 2017. Alexander, Dan.  "Betsy DeVos Says It's 'Possible' Her Family Has Donated $200M to Republicans."
  Forbes.  17 January 2017. Bump, Phillip.  "The DeVos Vote Is a Bad Case Study for the Power of Campaign Contributions."
  The Washington Post.  7 February 2017. Stratford, Michael.  "DeVos Heads Into Confirmation with a Megadonor's Advantage."
  Politico.  20 December 2016. Noland, Jack.  "Betsy DeVos and Her Big-Giving Relatives: Family Qualifies as GOP Royalty."
  Center for Responsive Politics.  1 December 2016. Boser, Ulrich.  "Conflicts of DeVos."
  Center for American Progress.  12 January 2017. Claim:  E-mail compares proposed changes in taxes after the 2008 presidential election. Status:  False. Example:  [Collected via e-mail, June 2008] This is something you should be aware of so you don't get blind-sided. This is really going to catch a lot of families off guard. It should make you worry. Proposed changes in taxes after 2008 General election: CAPITAL GAINS TAX MCCAIN: 0% on home sales up to $500,000 per home (couples). McCain does not propose any change in existing home sales income tax. OBAMA: 28% on profit from ALL home sales How does this affect you? If you sell your home and make a profit, you will pay 28% of your gain on taxes. If you are heading toward retirement and would like to down-size your home or move into a retirement community, 28% of the money you make from your home will go to taxes. This proposal will adversely affect the elderly who are counting on the income from their homes as part of their retirement income. DIVIDEND TAX MCCAIN: 15% (no change) OBAMA: 39.6% How will this affect you? If you have any money invested in stock market, IRA, mutual funds, college funds, life insurance, retirement accounts, or anything that pays or reinvests dividends, you will now be paying nearly 40% of the money earned on taxes if Obama become president. The experts predict that 'higher tax rates on dividends and capital gains would crash the stock market yet do absolutely nothing to cut the deficit. INCOME TAX MCCAIN (no changes) Single making 30K - tax $4,500Single making 50K - tax $12,500Single making 75K - tax $18,750 Married making 60K - tax $9,000Married making 75K - tax $18,750Married making 125K - tax $31,250 OBAMA: (reversion to pre-Bush tax cuts) Single making 30K - tax $8,400Single making 50K - tax $14,000Single making 75K - tax $23,250 Married making 60K - tax $16,800Married making 75K - tax $21,000Married making 125K - tax $38,750 Under Obama your taxes will more than double! How does this affect you? No explanation needed. This is pretty straight forward. INHERITANCE TAX MCCAIN: 0% (No change, Bush repealed this tax) OBAMA: Restore the inheritance tax How does this affect you? Many families have lost businesses, farms and ranches, and homes that have been in their families for generations because they could not afford the inheritance tax. Those willing their assets to loved ones will not only lose them to these taxes. NEW TAXES BEING PROPOSED BY OBAMA * New government taxes proposed on homes that are more than 2400 square feet * New gasoline taxes (as if gas weren't high enough already) * New taxes on natural resources consumption (heating gas, water, electricity) * New taxes on retirement accounts and last but not least.... * New taxes to pay for socialized medicine so we can receive the same level of medical care as other third-world countries!!! Origins:   Every  recent presidential election cycle has brought e-mailed forwards that paint the Democratic candidate as a proponent of a "tax and spend" philosophy (who will inevitably implement significant tax increases on taxpayers across all income levels) and present the Republican candidate as a model of fiscal conservatism, and the example quoted above fits this pattern.    However, this example is off the mark both in its broad strokes and in its particulars.  According to the Tax Policy Center's analysis of the candidates' proposed tax changes, the primary difference between them would be distributional, with Senator Obama's proposals favoring lower-income taxpayers and Senator McCain's favoring higher-income taxpayers: analysis McCain: The average taxpayer in every income group would see a lower tax bill, but high-income taxpayers would benefit more than everyone else.  Obama: High-income taxpayers would pay more in taxes, while everyone else's tax bill would be reduced. Those who benefit the most  in terms of reducing their taxes as a percentage of after-tax income  are in the lowest income groups. The statements made about the candidates' proposals for changes in specific taxes (or implementation of new taxes) are also all erroneous or grossly misleading. as we note below: CAPITAL GAINS TAX MCCAIN: 0% on home sales up to $500,000 per home (couples). McCain does not propose any change in existing home sales income tax. OBAMA: 28% on profit from ALL home sales The statement that Senator Obama proposes instituting a 28% tax "on profit from ALL home sales" is false.  Both candidates' proposals would leave intact an existing capital gains exemption for the first $500,000 per household of profit from the sale of a primary residence.  Homeowners who realize a profit higher than the current exemption amount from the sale of their primary residences might pay more capital gains tax under an Obama presidency than they would now, but those instances currently constitute a very small minority of all home sales.  (For the purposes of this article, the term "per household" refers to married couples who file taxes jointly.) The mention of Obama's imposing a 28% capital gains tax as president is also misleading.   Senator Obama has indicated he would likely raise the capital gains tax rate, but he has not specified by how much  the 28% figure is a previous (i.e., pre-Bush) capital gains tax rate which Obama stated he would certainly not exceed while noting that his capital gains tax rate would likely be "significantly lower": Q: How do you plan to change the tax code when it comes to capital gains? How high will that 15 percent rate go? A: Well, you know, I haven't given a firm number. Here's my belief, that we can't go back to some of the, you know, confiscatory rates that existed in the past that distorted sound economics. And I certainly would not go above what existed under Bill Clinton, which was the 28 percent. I would  and my guess would be it would be significantly lower than that. I think that we can have a capital gains rate that is higher than 15 percent. The  Tax Plan Fact Sheet posted on Obama's web site says that he will "create a new top capital gains rate of 20 percent."  Tax Plan DIVIDEND TAX MCCAIN: 15% (no change) OBAMA: 39.6% The notion that Senator Obama is proposing raising the tax rate on dividend income from its current 15% level to a 39.6% is unfounded.  Obama has proposed taxing dividends at the same rate as capital gains, and although he hasn't yet specified a figure for the latter, he has already stated (as noted above) that he "certainly would not go above" 28%.  Also, the proposed increase would only affect households with income of more than $250,000 per year (a figure that encompasses about 2% of U.S. households.)  INCOME TAX MCCAIN: (no changes) Single making 30K - tax $4,500Single making 50K - tax $12,500Single making 75K - tax $18,750 Married making 60K - tax $9,000Married making 75K - tax $18,750Married making 125K - tax $31,250 OBAMA: (reversion to pre-Bush tax cuts) Single making 30K - tax $8,400Single making 50K - tax $14,000Single making 75K - tax $23,250 Married making 60K - tax $16,800Married making 75K - tax $21,000Married making 125K - tax $38,750 Under Obama your taxes will more than double! This is an erroneous interpretation of federal income tax rates based on the premise that Senator McCain favors extending the temporary tax cuts instituted by the Bush administration in 2001 and 2003, while Senator Obama does not.  However, both senators said they would favor extending those tax cuts; the difference is that Senator Obama said he would not favor extending the tax cuts for households with incomes of $250,000 or more per year.  Since none of the tax tables listed above applies to that income level, their inclusion is irrelevant and misleading.  As noted at the head of this article, taxpayers in the brackets covered by these tables would likely see a greater reduction in taxes under Senator Obama's proposals than under Senator McCain's, an outcome reflected in the Tax Policy Center'sestimate of how the average tax bill could change in 2009 under each candidate's proposals: estimate         INHERITANCE TAX MCCAIN: 0% (No change, Bush repealed this tax) OBAMA: Restore the inheritance tax Pretty much everything asserted about the inheritance tax (also referred to as "death tax" or "estate tax")  in these few short statements  that President Bush repealed it, that Senator McCain would maintain it at 0%, and that Senator Obama would "restore" it  is wrong. In general, estate tax currently applies only to estates valued at more than $2 million and tops out at a 45% rate.  The exclusion amount is already set to rise to $3.5 million in 2009, followed by a repeal of the estate tax in 2010, and then a reinstatement of the estate tax in 2011 with the exclusion amount reverting back to $1 million and the tax rate topping out at 55%.  repeal Senator McCain has proposed raising the estate tax exclusion amount to $5 million and setting a maximum estate tax rate of 15%, while Senator Obama has proposed raising the estate tax exclusion amount to $3.5 million and maintaining the maximum estate tax rate at its current 45% level. NEW TAXES BEING PROPOSED BY OBAMA * New government taxes proposed on homes that are more than 2400 square feet * New gasoline taxes (as if gas weren't high enough already) * New taxes on natural resources consumption (heating gas, water, electricity) * New taxes on retirement accounts and last but not least.... * New taxes to pay for socialized medicine so we can receive the same level of medical care as other third-world countries!!! Three of these five statements are completely erroneous: Senator Obama has not proposed a tax on "homes that are more than 2,400 square feet," any "new gasoline taxes," or "new taxes on retirement accounts." The phrase "taxes on natural resources consumption" presumably refers to Senator Obama's "cap and trade" proposal for reducing carbon emissions, a proposal which would likely impose additional costs on polluters but isn't technically a "tax": cap and trade Obama supports implementation of a market-based cap-and-trade system to reduce carbon emissions by the amount scientists say is necessary: 80 percent below 1990 levels by 2050. Obama's cap-and-trade system will require all pollution credits to be auctioned. A 100 percent auction ensures that all polluters pay for every ton of emissions they release, rather than giving these emission rights away to coal and oil companies. Some of the revenue generated by auctioning allowances will be used to support the development of clean energy, to invest in energy efficiency improvements, and to address transition costs, including helping American workers affected by this economic transition. As for "new taxes to pay for socialized medicine," Senator Obama has proposed funding his health care plan through additional revenues generated by not extending the Bush administration's temporary tax cuts for persons making more than $250,000 per year.  Whether allowing a portion of already-scheduled expiration of temporary tax cuts to take place really constitutes "new taxes" is a matter of semantics. health care Last updated:  16 July 2008    Sources:   Sahadi, Jeanne.  "What They'll Do to Your Tax Bill."   CNNMoney.com.  11 June 2008.    Sahadi, Jeanne.  "What Obama Means by Tax the Wealthy."   CNNMoney.com.  28 June 2008.    Closing Bell.  "Maria Bartiromo Speaks with Senator Barack Obama."   CNBC.  27 March 2008. Various social media posts circulating in late December 2021 claimed that thanks to coronavirus stimulus legislation known as the American Rescue Plan, U.S. President Joe Biden's administration and Democratic legislators would begin "spying" or "snooping" on users of cash apps like PayPal and Venmo. Here is an example of one such post: example   The truth is, unsurprisingly, more nuanced, but the bottom line is that, contrary to what the above Twitter posts state, the effect of the legislation in question isn't that the Biden administration or Democrats will be "tapping into" or "spying on" bank or cash app accounts. This is a misleading characterization. What the legislation does is significantly lower the threshold for reporting taxable transactions made using cash apps like Venmo, PayPal, or Zelle for goods and services to the IRS. And when you reach that threshold, the app companies will then be required to send a tax form called a 1099-K to both you and the IRS. A 1099-K is, according to PayPal, an "informational tax form that is used to report goods and services payments received by a business or individual in the calendar year." PayPal As of this writing, the current threshold for such reporting is $20,000 and 200 payments in goods and services. Come Jan. 1, 2022, that reporting threshold will drop down to $600. threshold This could have a significant impact on platform users' tax returns. Here's how Bloomberg Tax described how users might experience the change: Bloomberg Tax For example, a model train collector may have paid $5,000 for model train pieces over several years that they now sell for $8,000, and the marketplace that introduced the seller to the buyer and through which the sale took place may charge the seller a total fee of $800. It may cost the model train seller $200 in postage to send the pieces to its buyers. The Form 1099-K that the seller will receive from the TPSO will report $8,000 in gross proceeds paid. However, the sellers taxable gain from that sale would only be $2,000. As a result, collectors and other online sellers will need to keep extensive records of their expenses going forward to avoid over-reporting of income and overpayment of tax. Also, consider the alternativea teenager who walks dogs to earn extra money. If their income in 2022 exceeds $600, their expenses may be limited to the fees charged by the website that connects them to pet owners, but they will owe income taxand possibly self-employment taxon the income they earn. According to PayPal, which owns Venmo, the change doesn't affect people who use the apps for personal transactions, like paying a friend back for your share of dinner, gifts, or chipping in for trips. PayPal also states that its app allows users to categorize their own transactions as personal versus rendering payment for "goods and services." PayPal Business Users on Cash Apps Will Begin Receiving Tax Forms. Heres What You Need to Know. WJHL | Tri-Cities News & Weather, 14 Oct. 2021, https://www.wjhl.com/news/business-users-on-cash-apps-to-begin-receiving-tax-forms-what-you-need-to-know/. Pflieger, Deborah. "New Form 1099 Reporting Coming in 2022," Bloomberg Tax, 15 Dec. 2021, https://news.bloombergtax.com/tax-insights-and-commentary/new-form-1099-reporting-coming-in-2022. New U.S. Tax Reporting Requirements: Your Questions Answered. PayPal Newsroom, 4 Nov. 2021, https://newsroom.paypal-corp.com/2021-11-04-New-US-Tax-Reporting-Requirements-Your-Questions-Answered. "PayPal and Venmo Taxes: What You Need to Know About P2P Platforms." TurboTax, 27 Nov. 2021, https://turbotax.intuit.com/tax-tips/self-employment-taxes/paypal-and-venmo-taxes-what-you-need-to-know-about-p2p-platforms/L5DNjOUM1. Claim:  A 2013 immigration reform bill provides young people with free cars to transport them to their jobs.   Example:  [Collected via e-mail, June 2013] BREAKING: Immigration bill now includes free cars (at tax payer expense) for young people to help them get to work! LIKE if you agree: The Senate should vote no on this Gang of 8 immigration bill! Call and let them know what you think! (888) 978-3134  Fox News reported that the riders made to the 2013 Immigration bill now in the Senate that Bernie Sanders has added a provision for free cars, motorcycles or scooters for "young people to use as transportation" to jobs.  This was reported by  Laura Ingraham on Fox and Friends on June 25, 2013.  Is there any truth to this report.  I can not find a copy of the 1,190 page 2013 immigration bill to read it my self Origins:  In April 2013, the Border Security, Economic Opportunity, and Immigration Modernization Act ("a bill to provide for comprehensive immigration reform and for other purposes") was introduced to the U.S. Senate as S.744, sponsored by Democratic Sen. Charles Schumer of New York.  In June 2013 two Republican senators, Bob Corker of Tennessee and John Hoeven of North Dakota, drafted an amendment to that bill (commonly known as the Hoeven-Corker Amendment) in order to, in the words of Senator Corker, "mandate an unprecedented surge of security at the southern border, implement tough interior enforcement to curb de facto amnesty, and help prevent abuse of federal benefits": S.744 Hoeven-Corker Amendment "The Hoeven-Corker amendment takes big and important steps on the immigration issue that matters most: border security," Senator Lamar Alexander said. "It would double the number of agents on the southwest border, construct 700 miles of new or upgraded fencing and spend $3.2 billion on new security technology that was perfected in Iraq and Afghanistan." The Hoeven-Corker amendment would add 20,000 border patrol agents, enough to allow putting one agent every 1,000 feet along the U.S. southwest border. The border patrol agents, fencing and security technology plan would have to be in place before anyone under the immigration legislation's "Registered Provisional Immigrant" program would be allowed to apply for legal permanent residency, otherwise known as a green card. Democratic-affiliated Senator Bernie Sanders of Vermont has been outspokenly critical of the potential economic effects of S.744, arguing that the bill would "allow college students from around the world to take jobs that young Americans would otherwise perform."  In response, he drafted a  Youth Jobs Plan that would "provide $1.5 billion over two years for states and local communities to help find jobs for more than 400,000 16- to 24-year-olds who were hard hit by the Wall Street-caused recession."  That job plan was incorporated into the Hoeven-Corker Amendment under a heading of "TITLE V  JOBS FOR YOUTH." Youth Jobs Plan TITLE V The claim that the immigration bill includes a provision granting "free cars, motorcycles or scooters for young people" stems from a very broad, speculative interpretation of one sentence in the jobs plan portion of the Hoeven-Corker Amendment which generally directs how the job plan funds should be used: IN GENERAL. The funds made available under this section shall be used  (A) to provide summer employment opportunities for low-income youth, with direct linkages to academic and occupational learning, and may be used to provide supportive services, such as transportation or child care, that is necessary to enable the participation of such youth in the opportunities; and  (B) to provide year-round employment opportunities, which may be combined with other activities authorized under section 129 of the Workforce Investment Act of 1998 (29 U.S.C. 17 2854), to low-income youth. As stated, the bill does not contain a specific provision to provide "free cars for young people to help them get to work."  It includes a clause allowing that youth job program funds may be used to "provide supportive services, such as transportation" to low-income youth taking part in summer employment opportunities.  Whether and how that provision would be applied in practice is purely speculative at this point and could vary widely from place to place, potentially ranging anywhere from arranging carpools and subsidizing bus fare to buying, leasing, or renting motor vehicles to be temporarily utilized in ferrying job program participants to work.  But the government isn't going to be buying up cars and turning ownership of them over to young people engaged in summer job programs.       Last updated:  26 June 2013 Claim:   Photograph shows a tearful World War II veteran embracing a wounded Marine.  Example:  [Collected via e-mail, December 2004] Picture worth a 1000 words...and, really, no words needed! We truly take a lot for granted. Forget the football "heroes"... and pass this on, please.    Origins:  This moving photograph of a World War II veteran overcome with emotion while embracing a wounded Marine is a cropped version of a photograph which originally appeared in newspapers in November 2004:  The occasion of this photograph was a Veterans Day Commemoration at Dallas City Hall on 11 November 2004.  The veteran pictured is Houston James, a survivor of the Japanese attack on Pearl Harbor in December 1941, and the Marine is Staff Sgt. Mark Graunke Jr., a member of an ordnance-disposal team who lost his left eye, his left hand, the thumb and index finger of his right hand, and his right leg as a result of injuries sustained while defusing a bomb in Iraq in July 2003. The Dallas Morning News revisited the subjects of this iconic photograph in 2011, reporting that: In the photograph, an elderly, jacketed survivor of Pearl Harbor embraces a decorated Marine, overcome with emotion as the younger serviceman returns the gesture with an artificial hand. The setting is the plaza in front of Dallas City Hall at the conclusion of the 2004 Veterans Day Parade. The powerful portrait, originally published in The Dallas Morning News, found its way around the world, beloved by many a veterans organization for the collective bond of service and sacrifice it illustrates Houston James is 87 now. He uses a walker to get around. His home is an assisted-living facility in Mesquite, and his wife, Marian, has been gone a long while. "I forgot all about that photo," he said. Military memorabilia populates his apartment  patches, decals, history books. A VHS copy of the Pearl Harbor film Tora! Tora! Tora! sits on a shelf. The picture, he said, was taken at a parade downtown. He doesn't recall the year.  He taps the photograph with a finger. "I was walking by," he said. "He was up on the reviewing stand. I spotted him." And then he saw the man's prosthesis. The Marine is retired Staff Sgt. Mark Graunke of Flower Mound, who, as part of an ordnance-disposal team in Iraq, lost his hand, leg and eye while attempting to defuse a bomb in 2003. His mission was to keep roads free of explosive devices. On July 2, as he worked on a piece of unexploded material, it went off in his left hand. Graunke, who now works for JPMorgan Chase in Coppell, had opted for ordnance-disposal duty after a stint as a Marine Security Guard. He did not respond to requests for an interview. But on his LinkedIn profile, he writes: "I wanted to do something that was going to challenge me both mentally and physically. That is just what I got." "I strive for perfection in everything I do and I have no regrets for anything I have done," Graunke goes on. "Life is full of ups and downs and it is how you deal with those situations that will define you as an individual." In July 2007, a Dallas builder named a city block in Staff Sgt. Graunke's honor and donated a portion of the proceeds from home sales to charities selected by him: A Dallas builder, Brandenburg Homes, will construct 16 homes on the block, now known as the Mark Graunke Jr. Addition. The builder will donate $3,000 for each home sold, divided equally between three charities Graunke selected  the Intrepid Fallen Heroes Fund, Fisher House and the Marine Corps-Law Enforcement Foundation, all of which helped him recover from his injuries, he said. Last updated:  11 November 2013    Ramirez, Marc.  "Morning News Photograph United Two Servicemen Across Generations."   The Dallas Morning News.  10 November 2011.    Rogers, Rick.  "Thoughts of Iraq Ride in Parade of Veterans."   The San Diego Union-Tribune.  12 November 2004.    Unmuth, Katherine Leal.  "Homebuilder Donates Part of Proceeds to Honor Marine."   The Dallas Morning News.  27 July 2007. Claim:  A collector deliberately placed three valuable U.S. coins into circulation in New York in April 2006.   Example:  [Collected via e-mail, 2006] A friend told me that she heard that a millionnaire put a penny worth a million dollars in circulation by using it to buy a hot dog at a vendor cart. Supposedly you can tell because it has a "J" under the year.   Origins:  One of the many windfall schemes that some of us dream about in our idle moments is fortuitously turning up a rare old coin worth hundreds or even thousands of   dollars  perhaps through discovering one stashed away by a relative who has forgotten about it, uncovering one hidden beneath some dirt or debris, or simply finding one in a handful of change.  The last of these routes rarely yields lucky finds anymore, as collectors and treasure-seekers have long since plucked every coin of significant value from circulation, but in April 2006 the odds of making such an advantageous discovery got a little bit better. To help introduce more people to "the magic of coin collecting," Scott A. Travers, a 44-year-old former vice president of the American Numismatic Association and author of The Coin Collector's Survival Manual, decided to mark National Coin Week in mid-April 2006 by deliberately spending three valuable old pennies as he made routine purchases around Manhattan.  "I'm planting a seed, and I hope that a new generation of people will come to appreciate the history that coins represent," he said. The three coins Scott Travers spent were all relatively low-mintage U.S. one-cent pieces nearly one hundred years old:  a 1908-S Indian Head cent, and 1909-S VDB and 1914-D Lincoln cents.  (In the conditions released by Travers, at the time those coins were worth roughly $200, $1,000, and $300, respectively.) Mr. Travers said he put the  1908-S 1909-S VDB 1914-D 1914-D Lincoln cent into circulation on 12 April 2006 when he purchased a pretzel from a food stand outside the NASDAQ offices in Times Square, and a few days later he spent the 1909-S V.D.B. Lincoln cent to buy a bottle of water from a different vendor in Times Square, then walked a block to a newsstand where he used the 1908-S Indian Head cent. Within a few weeks, seven people came forward saying they had found the $1,000 coin (i.e., the 1909-S V.D.B. Lincoln cent), but Travers said that although the proffered coins were real, none of them was the one he released into circulation.  As of 2009 there had been no reports of anyone's finding any of the three rare pennies, but Scott Travers may never find out what happened to them, as it's quite possible the valuable cents ended up lost, squirreled away as oddities by people who didn't know their true value, or retrieved and sold by lucky finders unaware the coins were deliberately placed into circulation.  Indeed, Mr. Travers has tried the same stunt more than once, and he hasn't ever learned the fate of some of the valuable coins involved in those previous attempts: Travers has spent rare coins before. In 1999, he did it to coincide with the numismatic association's convention in New York, although he never found out whether one of the rare pennies was rediscovered. Past coin drops, in 1997 and 2002, succeeded in sparking interest in coin collecting, but Travers doesn't know if anyone "cashed in" by finding the coins. Travers has met many people who believe they've discovered his coins, and though they may have found valuable coins, they weren't his. Last updated:  17 March 2011    Healey, Matthew.  "Find a Penny, Pick It Up, Sell It for 1,000 Bucks."   The New York Times.  14 April 2006  (p. B3).    Schapiro, Rich.  "Coins in Circulation May Be Worth Up to $1,000, Says Expert."   [New York] Daily News.  9 January 2009. On Oct. 7, 2022, a Twitter user named Nathalie Jacoby tweeted, "Will you join me in boycotting Home Depot for donating $1.75 MILLION to Herschel Walkers campaign?" Walker is a Republican U.S. Senate candidate for the state of Georgia. The tweet led several of our readers to email us about the matter. tweeted  In the 2022 U.S. election, Walker was challenging U.S. Sen. Raphael Warnock, a Democrat. Should Walker win the seat, it would potentially give Republicans a coveted Senate majority. The race brought with it a lot of rumors and news stories. One of the biggest rumors appeared to be about Walker purportedly encouraging a woman to have two abortions. However, for this fact check, we will only be looking into the claim about Home Depot. Walker encouraging a woman to have two abortions Home Depot responded to Jacoby's tweet by saying that the contribution in question came from the company's co-founder Bernie Marcus. responded  We also reached out to the company to inquire about the matter. By email, a company spokesperson told us the following: "Thanks for reaching out. This isnt true. Home Depots PAC hasnt donated to Walkers or Warnocks campaigns. Our co-founder Bernie Marcus left Home Depot more than 20 years ago, and his views do not represent the company." It's true that Marcus retired from the company in 2002. However, despite what some readers may have read in other articles that appeared at the top of Google search results, that wasn't the full story. retired On the morning of Oct. 10, Judd Legum of the Popular Information blog reported that Home Depot PAC, a political action committee associated with the company, had donated funds to a Republican organization that funded ad spending for Walker's campaign. reported associated funded ad spending After reviewing Legum's reporting, we located expenditure records for Home Depot PAC that had been published on OpenSecrets.org. The website calls itself "the nation's premier research and government transparency group tracking money in politics and its effect on elections and policy." published The information on Open Secrets indicated the following: While there is no record of Home Depot directly donating to Walker's efforts to win the Senate seat, Home Depot PAC did provide funds to the National Republican Senatorial Committee (NRSC). According to reporting from Politico that was published on Oct. 4, the NRSC was "splitting a new $8.5 million ad buy with the Walker campaign." National Republican Senatorial Committee reporting We contacted Legum by Twitter DM, who told us that the Federal Election Commission website, FEC.gov, also showed four key records related to Home Depot and NRSC. These records indicated that Home Depot PAC, shown on the website as The Home Depot Inc. Political Action Committee, had donated a combined $90,000 to the NRSC in late 2021 and early 2022. four key records  Other large expenditures made by the Home Depot PAC in 2021 and 2022 also went to organizations that were associated with the Republican Party, according to the FEC website. Examples included $45,000 to the California Republican Party and $25,000 to the Georgians First Leadership Committee. Other large expenditures At the same time, Home Depot PAC also gave money in 2021 and 2022 to organizations that appeared to be led by Democrats. Examples included $60,000 to the California Legislative Black Caucus Policy Institute, $50,000 to the Los Angeles Delegation Foundation, $30,000 to the Women in Power PAC, and $25,000 to the Asian Pacific Islander Leadership PAC. Home Depot Note: Jacoby, the Twitter user, also previously tweeted in support of boycotting CNN, Chick-fil-A, Kanye West, and Hobby Lobby and MyPillow. CNN Chick-fil-A Kanye West Hobby Lobby and MyPillow Allison, Natalie, and Marianne Levine. Republicans Rally around Walkers Imperiled Candidacy. POLITICO, 4 Oct. 2022, https://www.politico.com/. Federal Election Commission. https://www.fec.gov/. Grace Meng Elected as New Chair of the Congressional Asian Pacific American Caucus Leadership PAC. Capacleadership.Org, 13 Apr. 2016, https://www.capacleadership.org/. Home Depot. Twitter, https://twitter.com/homedepot/. Jacoby, Nathalie. Twitter, https://twitter.com/nathaliejacoby1/. Kamisar, Ben. Big Georgia Senate Ad Spending Shift Highlights a Novel Strategy. NBC News, 23 Sept. 2022, https://www.nbcnews.com/meet-the-press/meetthepressblog/big-georgia-senate-ad-spending-shift-highlights-novel-strategy-rcna49125. Kempner, Matt. Home Depot Founders Reunite: $40M for Vets, 1st Responders Health. The Atlanta Journal-Constitution, 16 Feb. 2021. AJC.com, https://www.ajc.com/ajcjobs/home-depot-founders-reunite-40m-for-vets-1st-responders-health/WRWBASV6GREQTKUU56LWLXGGY4/. Koseff, Alexei. Women Target Seats Held by California Lawmakers Accused of Sexual Harassment. The Sacramento Bee, 15 Feb. 2018, https://www.sacbee.com/news/politics-government/capitol-alert/article200150799.html. Legum, Judd. Who Is Really Financing Herschel Walkers Campaign? Popular Information, 10 Oct. 2022, https://popular.info/p/who-is-really-financing-herschel. Members. CLBCPI Foundation, https://cablackcaucus.org/members/. National Republican Senatorial Committee. https://www.nrsc.org/. NBCSL | California Legislative Black Caucus Elects New Leadership. 25 Aug. 2022, https://nbcsl.org/media-center/news/item/2376-california-legislative-black-caucus-elects-new-leadership.html. OpenSecrets. https://www.opensecrets.org/. Report: Walker Encouraged Woman to Have Second Abortion. The Associated Press, 8 Oct. 2022, https://apnews.com/article/2022-midterm-elections-herschel-walker-congress-government-and-politics-9d7d9c68a802169994b9db719d8256c0. Rosenhall, Laurel. The New Thing for California Politicians? Sweet Charity. CalMatters, 18 Feb. 2020, https://calmatters.org/projects/california-lawmaker-nonprofits-politics-charity-campaign-finance-foundation-dark-money/. Scribner, Herb. Home Depot Denies Donating over $1 Million to Herschel Walkers Campaign. Axios, 8 Oct. 2022, https://www.axios.com/2022/10/08/home-depot-herschel-walker-georgia-donation. Werschkul, Ben. Home Depot Now the Biggest Corporate Donor to 2020 Election Objectors, Analysis Finds. Yahoo Finance, 25 Mar. 2022, https://finance.yahoo.com/news/home-depot-biggest-corporate-contributor-to-2020-election-objectors-analysis-finds-185705617.html. After this story was published, on Oct. 10, we added an email statement sent to us by Home Depot.