Latino small businesses are 1 in 4 new businesses, but only 1% of venture capital funding goes to Latino businesses.
During an interview with Noticias Telemundo, Vice President Kamala Harris said that Latino entrepreneurs don't get as much financial support as other business owners do, and the Biden administration wants to change that. Venture capitalists need to invest more in Latino-owned businesses, Harris said. Latino small businesses are 1 in 4 new businesses, but only 1% of venture capital funding goes to Latino businesses, HarrissaidApril 21. Yes, we've got to change that. We wondered whether Harris claim was true. A Harris spokesperson told PolitiFact that the data comes from a 2021reportby the global management consulting firmBain & Co. Bain & Co. analyzed data from several sources for its report, including: CrunchBase, a company that provides business data on public and private companies; A 2021 brief from Democratic members of CongressJoint Economic Committeeabout Hispanic businesses and entrepreneurship; and Data from theStanford Latino Entrepreneurship Initiative, a collaboration between Stanford University and the Latino Business Action Network, a nonprofit organization advocating for Latino entrepreneurship. Those sources relied on data covering 2007 to 2021 and predictions for 2022. Bain & Co. did not define Latino-owned business, but the Stanford Latino Entrepreneurship Initiativesaidthey are companies with 50% or more ownership that identifies as Latino or Hispanic. The Joint Economic Committees brief said that nearly 1 in 4 new businesses are Hispanic-owned. (TheU.S. Small Business Administrationhas also used this statistic, citing the committee brief as its source.) Staff for Rep. Don Beyer, D-Va., who chaired the committee when the report published, told PolitiFact the figure comes from a 2018 report by theFederal Reserve Bank of New York. (The report includes data up to 2016.) The Federal Reserve Bank of New York also shared this statistic in a2019 tweet. An October 2022 report by theEwing Marion Kauffman Foundation, a nonprofit that provides grants to other nonprofits and businesses, said that in 2021 nearly a quarter of new entrepreneurs were Hispanic or Latino. The foundation used data from the Census BureausCurrent Population Surveyfor its analysis. TheCensus Bureaus 2021 Annual Business Surveyoffers a different and lower figure for the share of Hispanic-owned businesses. That survey showed that in 2020, there were approximately 375,000 Hispanic-owned businesses, and about 12.4% were new (operating for less than two years). But the two surveys are not directly comparable, because the survey samples, questions and size may not be the same, said Patricia Ramos, a Census Bureau spokesperson. The Current Population Survey data centers on the labor force  people who are working or actively looking for work. The Annual Business Survey focuses on business and business owners by demographics; it also excludes data for businesses without employees. Small Business Shoeshine Stands Jairo Cardenas owner the Alpha Shoe Repair Corp., polishes a boot he is repairing, Friday, Feb. 3, 2023, in New York. (AP). Bain & Co.s report said that cumulatively, Latino-owned businesses received roughly 1% of capital from the top 25 venture capital and private equity firms between 2007 and 2017. Separately, the report noted that Latino-owned businesses received less than 1%, or approximately $680 million, of the $487 billion invested by the top 500 largest venture capital and private equity firms in 2020. LatinxVC, a group that helps Latino businesses get funding from venture capitalists, cited the 1% Bain & Co. figure on itsState of Latino/a VCs Second Annual Report, published in November 2022. Crunchbasereported that Latino-owned companies received $2.7 billion  or 1.7%  of $161.4 billion from venture capitalists in 2020. Private equity firmsgenerally invest in companies from any industry, and venture capital firms focus on innovative sectors, such as technology. Most Hispanic-owned firms are related to construction, administrative support, and transportation and warehousing, according toCensus Bureaudata. Based on existing research, the statement on venture capital funding for Latino-owned businesses seems to be in line with existing estimates, saidBarbara Gomez-Aguinaga, associate director at the Stanford Latino Entrepreneurship Initiative. Ilene Grabel, an economics professor at the University of Denver, said that historically,  Latino entrepreneurs have not received significant financing from traditional banks and instead turn to venture capitalists for funding. Still, Latino-owned businesses need to enroll twice as many investors as white-owned businesses to get the same level of funding, according to the Bain & Co. report. Harris said, Latino small businesses are 1 in 4 new businesses, but only 1% of venture capital funding goes to Latino businesses. The 1-in-4 statistic is supported by a 2021 brief from the Democratic members of a congressional committee and research from a nonprofit that provides grants to other nonprofits and businesses. A Census Bureau survey found a smaller percentage of new Hispanic-owned businesses in 2020  12.4%. The claim about 1% of venture capital going to Latino-owned businesses matches estimates from a consulting firms 2021 report. Thats based on investments from 25 venture capitalists and private equity firms from 2007 to 2017. Investments in 2020 from these companies was under 1%, according to the report. Another source pegs that investment as high as 1.7%. We rate this claim Mostly True. CORRECTION, May 17, 2023: This fact-check was updated to clarify Rep. Don Beyers former leadership of the Joint Economic Committee.
This legend has circulated in Great Britain at least since 1972. Author Douglas Adams tells the "packet of biscuits" tale in his 1984 novel So Long, and Thanks for All the Fish. He has since recounted it on numerous occasions, claiming it happened to him in 1976 at a station in Cambridge. His claim is doubted by many who point out the self-same tale was around years prior to that, but it is not impossible for events in real life to mimic those of lore. (Indeed, the actual folkloric term for such an event is ostension.) In any case, whether the incident happened to him or not, it is clear the legend did not begin with him: ostension Examples: [Brunvand, 1986] An elderly woman, traveling by bus, had a layover during her journey. She purchased a package of Oreo cookies from a vending machine in the bus terminal and located a table. She placed her cookies on the table, sat down, and proceeded to read her newspaper She was joined by a young man, who, to her surprise, opened the package of Oreo cookies and began to eat them. The woman, saying nothing, but giving him an icy stare, grabbed a cookie. The young man, with a funny look on his face, ate another cookie. The woman again glared and grabbed another cookie. The young man finished the third cookie and offered the last to the woman. Completely appalled, she grabbed the cookie and the young man left. Outraged, the woman threw down her paper only to find her unopened Oreos on the table in front of her.  [Collected on the Internet, 1994] A friend of my aunt was going shopping at the mall, and stopped in a snack bar to rest her feet. She bought a Kit Kat bar, a candy bar which breaks into several pieces. The place was crowded, so the friend was forced to share a table with a meek-looking gentleman. (That's just the way some malls are, I guess.) The expected business happened with the two of them sharing the Kit Kat, but since the Kit Kat had an odd number of pieces, she made sure she got the last one. The man got up without saying a word, went over to the counter and bought a couple of donuts. The friend was working herself into a rage because this guy had eaten her Kit Kat. She imagined that he had bought two donuts to give one to her in apology, and so you can imagine how she got even more angry when he had the gall to go sit by himself at a table far away from her. So, in the strength of her fury, she stalked over to his table, picked up one of the donuts, took a BIG CHOMP out of it, and set it back in front of him. Then she glared at him, said "And a VERY GOOD DAY to you, too!" and stormed out. She got to her car, opened up the purse to get her keys, and you know the rest. [Ann Landers, 1997] A Ferry Story My aunt and uncle own a business in Kamloops, B.C. Here is a true story that happened to one of the women in their office: The woman was taking the car ferry from Victoria to Vancouver. She sat on the deck. Beside her in an empty chair were her newspaper and her chocolate bar. A man sat next to the little pile. He picked up the chocolate bar, ate it, picked up the newspaper, read some of it, threw the candy bar wrapper away, tucked the newspaper under his arm and then walked off. The woman was too shocked to say anything. Having nothing to read, eat or munch on, she decided to go to the cafeteria. There, at a table, sat the man, flipping the pages of the newspaper with one hand, holding a submarine sandwich in the other. Still angry, the woman strode over to him, grabbed the sandwich out of his hand, took a big bite and then put the sandwich back in his hand. She marched off, saying nothing and not looking back. She then decided to go to her car. On the passenger seat were her newspaper and her chocolate bar. She had never taken them out of the car! Variations: Numerous stories about unwitting thieves abound in the realm of contemporary lore, with the "victim turned thief" motif appearing in such tales since the early 1900s. (Visit our Pocket(ed) Watch, Gun-Toting Grannies, and Jogger's Billfold pages for other legends of this type.) Pocket(ed) Watch Gun-Toting Grannies Jogger's Billfold As folklorist Jan Harold Brunvand put it, "All variations on the theme of unwitting theft portray a plausible situation in which we ourselves might act in such an uncharacteristic threatening manner because of a simple misunderstanding." In this legend, the "plausible situation" impels a woman one presumes would not normally make a spectacle of herself to angrily glare at a stranger, screech at him, lecture him, or even defiantly grab a food item she knows is his and tear a bite out of it. Because of the way the characters are presented (the woman exudes a faintly aristocratic aura while the man is described as a leather-clad punk, a foreigner, or an insolent-appearing young person), the woman's social lapse is more glaring. We forgive her outburst at the time ... but afterwards have a chance to reflect on how she handled the situation and conclude there had to have been a better way. Her lapse and the awareness of how she must have appeared to others serves as a caution against our taking similar action in any potentially confrontational encounter that occurs in public. We might not always have all of the facts we think we do. Moreover, even if we do have all the facts, we're going to look like a right idiot to anyone looking on. Sightings: Both the 1990 film The Lunch Date and the 1989 film Boeuf Bourgignon make use of this legend. In both, a well-dressed white woman goes off to fetch silverware and returns to find a Black man eating her lunch. Only after she shares her dinner with the stranger (at one point he fetches coffee for the two of them) and the man leaves does she notice her own meal sitting on another table. The 2010 Ian McEwan novel Solar contains an interesting sighting of the legend, where it is both related as a true story undergone by the book's protagonist and afterwards challenged by a folklorist he encounters on its basis as an urban legend of long standing. Denton. Lisa.  Chewing Gum Keeps the Hearing Aids In.
 The Chattanooga Times. 30 July 1997  (p. C1).  Kaelber, Randy.  The Biscuit Bullet: Is It My Fault?
 FOAFTale News. June 1996  (p. 8). Kreck, Dick.  A Biscuit with Her Name on It.
 The Denver Post. 6 April 1996  (p. D8). McEwan, Ian. Solar.
  Toronto: Alfred A. Knopf, 2010.  ISBN 978-0-385-53341-6. 
  (pp. 117-8, 119, 121-7, 154-5, 157-8, 179-80). Owens, Gene.  Doughboy Gets Around.
 [Greensboro] News & Record. 11 July 1995  (Food; p. A7). Rose, Allen.  Story of Biscuit Dough Explodes in My Face.
 The Orlando Sentinel. 31 May 1996  (p. D1). Rose, Allen.  Biscuit Dough Makes Impact on Shopper.
 The Orlando Sentinel. 30 May 1996  (p. D1). Sandstrom, Karen.  Joke Telling Done Well Gives Audience More Than Laughs.
 The Plain Dealer. 19 June 1994  (p. B5). Setencich, Eli.  City Shoots First, Asks Questions Later.
 The Fresno Bee. 22 January 1996  (p. B1). Truly, Pat.  The Unthinkable Is Becoming Less So Every Day.
 The [Cleveland] Plain Dealer. 19 January 1994  (p. B5). Venable, Sam.  Highway Shooting Incident Turned Out to Be Poppin Fresh.
 The Knoxville News-Sentinel. 19 April 1998. Viets, Elaine.  The Half-Baked Biscuit Bullet Story Wont Die.
 Pittsburgh Post-Gazette. 13 December 1995  (Food; p. 3). Wikipedia.  "Ostensive Definition; Ostension in Folklore."
  Accessed 14 November 2018. In November 2019, we received multiple inquiries about the accuracy of claims that U.S. President Donald Trump had been fined $2 million by a New York court because he was found to have "stolen" charitable donations intended for military veterans.  For example, former Democratic Virginia State Senate candidate Qasim Rashid tweeted on several occasions in November 2019 that Trump had "stolen" $2.8 million in charitable donations from veterans, and that he had admitted as much in court: tweeted several occasions The President stole $2.8M in charity from Veterans & spent it on himself & admits to his crime in court documents. As you speak of honor & serviceWhere is your accountability of a President who trampled on both? Why are you silent Rep @RobWittman?#VeteransDay https://t.co/rGi9fT0AsP @RobWittman #VeteransDay https://t.co/rGi9fT0AsP  Qasim Rashid, Esq. (@QasimRashid) November 11, 2019 November 11, 2019   One of Rashid's tweets was later reposted in the form of a meme by the Facebook page Act.tv. (The meme was later deleted): tweets meme   Another widely shared meme claimed, "It is a fact that draft dodger Trump stole charitable cash donations that were meant for our veterans":   These social media posts and memes grossly misrepresented the facts surrounding a November 2019 settlement agreement between the New York Attorney General, on one hand, and the Donald J. Trump Foundation, Trump himself, and his children Ivanka and Eric, on the other hand.  Trump did not "steal" charitable donations intended for veterans, nor did he admit as much in court. All the donations intended for veterans charities ended up going to veterans charities. However, Trump's 2016 presidential campaign did direct and benefit from the manner in which many of those donations were distributed to the charities.  The claims were related to a lawsuit brought by the New York Attorney General's office in June 2018 against the Trump Foundation, the president, and Ivanka and Eric Trump, in their capacity as board directors of the charity. We've written about the case in detail in a previous fact check. fact check In her June 2018 petition to the state's Supreme Court, then-New York Attorney General Barbara Underwood wrote: wrote "For more than a decade, the Donald J. Trump Foundation has operated in persistent violation of state and federal law governing New York State charities. This pattern of illegal conduct by the Foundation and its board members includes improper and extensive political activity, repeated and willful self-dealing transactions, and failure to follow basic fiduciary obligations or to implement even elementary corporate formalities required by law. One of the examples of "improper political activity" cited in the lawsuit related to a January 2016 fundraiser that the Trump Foundation and Trump's presidential election campaign jointly operated.  In January 2016, days before the Iowa caucuses, Trump complained of unfair treatment by Fox News anchor Megyn Kelly and announced he would be boycotting the next Republican primary debate and instead host a fundraiser for veterans' charities in Iowa.  announced The event raised around $5.6 million, with roughly half going to the Trump Foundation, and half going directly to specific veterans charities. The Trump campaign directed the distribution of funds to recipient charities, and Trump himself repeatedly presented checks at campaign rallies and more broadly used the distribution of funds to boost his presidential campaign.  On the basis of those allegations, Underwood requested several outcomes, including asking the court to "dissolve the Foundation for its persistently illegal conduct, enjoin its board members from future service as a director of any not-for-profit authorized by New York law, to obtain restitution and penalties, and to direct the Foundation to cooperate with the Attorney General in the lawful distribution of its remaining assets to qualified charitable entities. The parties to the lawsuit spent around a year negotiating a settlement. In December 2018, for example, all sides agreed that the Foundation would be dissolved and its assets distributed to a list of mutually agreed charities.  agreed In November 2019, the New York Supreme Court published the final settlement. As part of that settlement between the parties, Trump, his children and the Foundation stipulated to (agreed upon) a set of facts, among them the following section related to the Iowa veterans fundraiser: settlement The website for the Iowa Fundraiser, DonaldTrumpForVets.com, was developed by campaign personnel and, with the agreement of the Foundation, featured the name of the Foundation at the top of the home page and informed visitors that "the Donald J. Trump Foundation is a 501 (c)(3) nonprofit organization"; The campaign planned, organized and paid for the Iowa Fundraiser, with administrative assistance from the Foundation; and the campaign directed the timing, amounts and recipients of the Foundation's grants to charitable organizations supporting military veterans; The Iowa Fundraiser raised approximately $5.6 million in donations for veterans groups, of which $2.823 million was contributed to the Foundation; the balance was contributed by donors directly to various veterans' groups. At Campaign events in Iowa on January 30, January 31, and February 1, 2016, Mr. Trump personally displayed presentation copies of Foundation checks to Iowa veterans' groups. On May 31, 2016, at a Campaign press conference, Mr. Trump announced the grants the Foundation made to veterans' groups with the proceeds of the Iowa Fundraiser and, on or about the same day, the Campaign posted on its website a chart identifying the grant recipients. The New York Attorney General's office objected to the way in which the Trump Foundation had been used to advance the interests of the Trump campaign, and especially the way in which the campaign dictated how more than half of the funds were to be distributed, with Trump at times personally handing out checks at campaign rallies. The Attorney General's Office did not object on the grounds that Trump, his children, or his foundation, had stolen or kept the money.  Indeed, in an order accompanying the November 2019 settlement, New York Supreme Court Justice Saliann Scarpulla wrote that: wrote The Attorney General has argued that I should award damages for waste of the entire $2,823,000 that was donated directly to the Foundation at the Fundraiser. In opposition, Mr. Trump notes that the Foundation ultimately disbursed all of the Funds to charitable organizations and that he has sought to resolve consensually this proceeding. As stated above, I find that the $2,823,000 raised at the Fundraiser was used for Mr. Trumps political campaign and disbursed by Mr. Trumps campaign staff, rather than by the Foundation, in violation of [New York law]. However, taking into consideration that the Funds did ultimately reach their intended destinations, i.e., charitable organizations supporting veterans, I award damages on the breach of fiduciary duty/waste claim against Mr. Trump in the amount of $2,000,000, without interest, rather than the entire $2,823,000 sought by the Attorney General. [Emphasis added]. Trump was ordered to pay $2 million to a list of agreed-upon charities as damages for the waste incurred by the fact that his political campaign orchestrated and benefited from distributing around $2.8 million in donations to veterans groups. (That $2 million in damages was separate from the roughly $1.7 million the Trump Foundation had already agreed to distribute to various charities, as part of the resolution dissolving the Foundation.) Neither Trump, nor his children, nor his charity, were found to have "stolen" or kept the funds, and so none "admitted" to such actions (as Rashid falsely claimed in his tweets). The New York Supreme Court explicitly acknowledged that all the funds raised from the January 2016 Iowa event did ultimately end up with veterans groups.  The irony in those claims was that it was, in fact, the manner in which the Trump Foundation and Trump campaign colluded in distributing the donations to veterans charities that landed the president in hot water, not his having "stolen" the donations.  Mac Guill, Dan. "Did New York Reprimand Trump Family for 'Stealing From a Children's Cancer Charity'?"
 Snopes.com. 31 October 2019. Underwood, Barbara D. "New York vs. Trump et al -- Verified Petition."
 New York Supreme Court, County of New York. 14 June 2018. Shane III, Leo. "Donald Trump to Skip GOP Debate, Hold Fundraiser for Wounded Troops Instead."
 Military Times. 26 January 2016. New York Supreme Court, County of New York. "New York vs. Trump et al -- So-Ordered Stipulation Concerning the Dissolution of the Donald J. Trump Foundation."
  19 December 2018. New York Supreme Court, County of New York. "New York vs. Trump et al -- So-Ordered Stipulation of Final Settlement."
  7 November 2019. Scarpulla, Saliann. "New York vs. Trump et al -- Decision and Order On Petition."
 New York Supreme Court, County of New York. 7 November 2019. In late February 2019, a misleading meme was circulated on Facebook that led viewers to ask whether U.S. Senate Majority Leader Mitch McConnell of Kentucky had mysteriously amassed vast wealth in yearly increments to the tune of $2.4 million while in office:   As Senate Majority Leader, McConnell received an annual salary of $193,400, but the Kentucky Republican reported an influx of family wealth between $5 million and $25 million in 2008, according to his financial disclosures. That influx was the result of an inheritance his wife received upon the death of her mother, and that  information has been part of public discourse since 2014, when it became campaign fodder for McConnell's Democratic opponent, Allison Lundergan Grimes: salary  Although the meme and the campaign ad upon which it was likely based were set up to make it seem as if McConnell's wealth increase were the result of his role in the Senate and thus involved unethical or illegal activities, most of his net worth actually derives from his wife, Transportation Secretary Elaine Chao, who hails from a wealthy business family and married McConnell in 1993. Chao is the daughter of James S.C. and Ruth Mulan Chu Chao. Her father is the founder of the New York-based international shipping and trading company Foremost Group, an organization her sister, Angela, chairs. How wealthy is the Chao family? Wealthy enough to have bestowed Harvard Business School with a $40 million gift in 2012. chairs gift According to the non-profit government transparency organization Center for Responsive Politics, McConnell's net worth jumped from an estimated $7.8 million in 2007 to $17 million in 2008, owing entirely to a tax-exempt, money market fund in an account he held jointly with his wife: 2008   As the Washington Post reported in 2014, McConnell's increase in wealth reflected inheritance mone Chao received when her mother passed away in 2007: reported Thats almost a sevenfold increase in 10 years. McConnell has quadrupled his net worth since 2007, when it was $7.8 million. So what happened in 2008? His financial disclosure form tells the storysuddenly there appeared a tax-exempt money market fund, valued at between $5 million and $25 million, listed as a gift from a filers relative. (Look at Line 2 and then Line 3.)   Indeed, a McConnell spokesman confirms that this was an inheritance for McConnells wife, former Labor Secretary Elaine Chao, after her mother died in 2007. Chao, who married McConnell in 1993, earns significant income on her own, serving on corporate boards, and has at least $1 million in a Vanguard 500 Index Fund. (Since these shares are in her name, McConnell only needs to report they have a minimum value of $1 million.) The Center for Responsive Politics estimated McConnell's net worth in 2015, the most recent figure available, to be nearly $27 million. 2015 Kessler, Glenn.  "How Did Mitch McConnells Net Worth Soar?"
  The Washington Post.  22 May 2014. Newmyer, Tory.  "The Secret to Mitch McConnell's Millions."
  Fortune.  20 March 2014. In the closing days of the 2020 U.S. presidential campaign, social media users recirculated a photograph playing on campaign-long claims by President Donald Trump and his supporters that Democratic nominee Joe Biden used his political influence while vice president to benefit Burisma, one of Ukraines largest natural gas companies, because Biden's son Hunter was a non-executive director on that company's board. recirculated non-executive director The much-shared photograph purportedly showed Joe and Hunter Biden golfing with the "Ukraine oil exec paying Hunter $50 K a month," thereby supposedly contradicting Joe Biden's claims that he had never spoken to his son about the latter's "overseas business dealings": spoken   Which "Ukraine oil exec" is allegedly pictured isn't specified in the above meme, but neither of the men posing with the Bidens is Burisma CEO Taras Burdeinyi, or former Ukraine Ecology Minister and Burisma founder Mykola Zlochevsky. Taras Burdeinyi Mykola Zlochevsky In fact, the photograph seen above, taken in the Hamptons in 2014 while Joe Biden was still the U.S. vice president, does not depict the Bidens with any Ukrainian oil executives. It captures the Bidens with Devon Archer, who was a partner with Hunter Biden and Christopher Heinz in the investment management firm Rosemont Seneca Partners, and Ralph Pascucci, a New York investment banker. taken Ralph Pascucci Although Archer was, like Hunter Biden, a member of the board of Burisma Holdings, neither Archer nor Pascucci is Ukrainian, and neither of those men is  or was  an "oil exec paying Hunter $50K a month," so this photograph is correctly classified as "Miscaptioned." Rumors are surging in the wake of George Floyd's death and resulting protests against police violence and racial injustice in the United States. Stay informed. Read our special coverage, contribute to support our mission, and submit any tips or claims you see here. Read contribute here In June 2020, several social media users copy-pasted a piece of text across social media that claimed the Rev. Al Sharpton was paid $24,000 to speak at the funeral of George Floyd, the Black man whose death while in police custody sparked nationwide protests against police brutality and racial injustice. social media     Verbatim or near-verbatim copies of this message  "Al Sharpton was paid $24,000 to speak at George Floyd's funeral"  have been shared by dozens of users on Facebook and Twitter. The earliest posting of this message that we could find was shared on June 13, a few days after Floyd's funeral service, by Brian Benedetto. That post had been shared more than 69,000 times:   However, none of the posts that we examined offered any evidence to support the claim. These posts weren't accompanied by links to news articles, quotes, TV interviews, financial records, or any other evidence to prove this accusation. It seems that this claim was simply conjured up out of thin air.  This type of post, a piece of text overlaid on a bright background, is frequently used to share unfounded claims, which are repeated over and over until some people become convinced that they are true.  Poynter wrote in 2019: Poynter When Facebook started letting users post text on top of colored backgrounds in 2016, it seemed like a fairly benign way to get people to share more personal thoughts on the platform. [...] But since then, like other formats on Facebook, the text post feature has been weaponized into an effective way to spread misinformation on the platform. Over the past few weeks, some of the most viral hoaxes on Facebook have spread in the form of text posts. They make salacious political claims without linking to any website or attaching a photo or video. They often come from regular Facebook users instead of Pages or Groups. There is no evidence to support the claim that Sharpton was paid $24,000 to speak at Floyd's funeral. This claim did not originate with a credible source and is not supported by any available evidence. However, we can't definitively say that Sharpton was not paid for this speaking engagement. We reached out to Sharpton and The Fountain of Praise Church in Houston for more information and will update this story if we hear back.  A video of Sharpton's eulogy can be viewed below: eulogy    Funke, Daniel.  "Forget Fake News Stories. False Text Posts Are Getting Massive Engagement on Facebook."
  Poynter.  6 March 2019. Emmrich, Stuart.  "The Most Moving Moment of Al Sharptons Eulogy for George Floyd."
  Vogue. 2 June 2020. CBS Minnesota.  "Al Sharpton To Deliver Eulogy At George Floyd Memorial Service."   2 June 2020. When it comes to taxes, Democratic candidate for governor Nan Rich wants to make things more fair for the little guy in Florida. Rich, a former state senator from Weston, faced a question about whether Floridas tax system should be changed during a Florida Press Association event July 11 at the swanky Biltmore Hotel in Coral Gables. I think it's a regressive tax base, and when you look at some of the studies saying its the third most-regressive tax base -- I don't want you to quote me on that because PolitiFact may get me, I'm not sure if its (No.) three -- but I think there are things we need to do to make a more equitable and fair tax structure. At PolitiFact Florida, our ears perk up when we hear rankings that put Florida near the top or bottom. As for her request for us not to PolitiFact her, well, we couldnt help but take that as a friendly challenge. Studies about regressive taxes Rich told PolitiFact Florida in an interview, dont hold me to third regressive. .... I did not say third definitively. ... We are one of the most regressive. Rich cited a 2013reportby The Institute on Taxation and Economic Policy, which partners withCitizens for Tax Justice, a group that advocates for fair taxation of middle- and low-income families. The report concluded that all states have regressive tax systems. It means that state taxes come more from the poor and middle class than from the rich. Virtually every states tax system is fundamentally unfair, taking a much greater share of income from middle- and low-income families than from wealthy families, the report says. The absence of a graduated personal income tax and the over reliance on consumption taxes exacerbate this problem in many states. The report measures property, sales and excise taxes on gasoline and cigarettes paid by different income groups in each state in 2013 and concludes Florida isNo. 2 of the terrible 10-- the second most-regressive tax system in the country. (No. 1 wasWashington state.) The No. 1 and No. 2 predictor of a very unfair tax system is not having a personal income tax of any kind and an above-average sales tax, and Florida has both of those things, said Matt Gardner, the institutes executive director. The report found that for non-elderly taxpayers, the bottom 20 percent pay 13.2 percent of their income toward state and local taxes. Meanwhile, the top 1 percent of earners only pay about 2.3 percent of their income toward state and local taxes. The report gives a nod to one progressive feature of Floridas taxes: We dont have sales taxes on groceries. We were unable to find any other entity that included Florida in a state-by-state comparison of regressivity and taxes. The Tax Foundation, a business-backed group that analyzes tax policy, wrote areportcriticizing the institutes study, but their points were not specifically about the states rankings. Instead, they criticized the report for promoting income taxes. The foundation does its own ranking of states in terms ofbusiness climate-- Florida placed fifth. We interviewed a few experts on taxes, and they were not surprised by Floridas ranking when it comes to regressive taxes. Not that many states dont have an income tax, so that puts us in a small group that looks more regressive, said University of Central Florida economist Sean Snaith. However, he said,  regressive and burdensome are separate issues. The tax burden in Florida is still very low, despite being regressive. Aaron Twait, research director at the Minnesota Center for Fiscal Excellence, said there are only two taxes that are progressive: the income tax and the estate tax. States that dont have the income tax -- they just dont have that lever to pull, he said. Sales taxes, property taxes, and excise taxes run from moderately regressive to really regressive. Our ruling Rich said that there is evidence that Florida has the third most-regressive tax base, though she acknowledged when she spoke she wasnt certain if she had the number right. She was close: A study placed Florida No. 2 in terms of its regressive tax base. Florida has a regressive tax base because we lack a state income tax. Though the Tax Foundation criticized the report, it didnt dispute the states rankings, and other experts we interviewed also had no qualms about Floridas placement. Richs number of third place was just a smidgen low, so we rate this claim Mostly True. President Barack Obamas upcoming State of the Union address gave Republicans and Democrats on the Sunday news shows another chance to make their case about the countrys economic performance over the past five years. OnFox News Sunday,Obama adviser Dan Pfeiffer pointed out the country has added 8 million jobs since the health care law passed in March 2010. Sen. Ted Cruz, R-Texas, offered a different take on the state of the labor force onFace the Nation. Why are jobs and economic growth so dismal? he asked. Weve got the lowest labor force participation in over three decades, since 1978. And if President Obama wants to give an honest, candid State of the Union address this week, hell address the fact that his economic policies are not working. It's difficult to say how Obama's policies are causing the economy to stall or succeed, but we can examine Cruz's specific claim about labor force participation. Cruz, whose press office did not respond to our request for comment, is correctly breaking down data from the federal Bureau of Labor Statistics. The labor force participation rate is another measurement of the health of the labor market. The unemployment rate is the number of people who are not working as a percent of the labor force. There are multiple lenses through which to view jobs data. Another measure, thelabor force participation rate, refers to the percentage of Americans who are considered to be in the labor force as a part of the overall population. To be counted in the labor force, someone must be working or actively looking for work. In December (and also October), the labor force participation rate was 62.8 percent. In January and March of 1978, it was also 62.8 percent. We know what youre thinking: Cool numbers, PolitiFact, but what do they mean? Take a look at the trend. The labor force participation rate had been increasing since 1948, the first year the labor force participation rate was calculated. Then, it was 58.6 percent. It peaked in the late 1990s and 2000 to just more than 67 percent, before more recently hitting its lowest point in 36 years. Its fallen 2.9 percentage points since Obamas first month on the job in January 2009. Whats happening is the subject of an ongoing debate. There is understandable concern about the countrys long-term unemployed anddiscouraged workers. The economic recovery from the 2007-09 recession has been slow, which may have propelled people to go back to school, stay at home with their kids or give up on a search altogether when they could not find jobs in their field. Still, many economists attribute at least a portion of the drop to an unsurprising reason: the retirement of baby boomers, which does not exactly qualify as an American horror story. The trick is to determine how much of the drop represents the impact of a lagging economy, which is worrisome, and how much is due to non-worrisome factors, such as the aging of the adult population, said Gary Burtless, an economist at the Brookings Institution, ina 2013 PolitiFact interview. Theres no reason to believe things will change anytime soon. The labor force will become older, slowly add workers as the overall population grows and become more racially diverse in the next decade, according to theBureau of Labor Statistics. BLS researchers say the labor force participation rate will continue to slowly fall until hitting 61.6 percent in 2022 -- a projected decline of 1.2 percentage points since December 2013. The past decade saw a much more dramatic drop, declining 3.6 percentage points since December 2003. Our ruling Cruz said, Weve got the lowest labor force participation in over three decades, since 1978. Were pretty confident Obama isnt asking Cruz for State of the Union talking points, and hes especially not interested in one that may suggest todays economic policies arent working. Cruz has his statistics right. But well note at least part of the trend has been years in the making and appears strongly tied to the inevitable aging of the baby boomer population. In other words, its not all Obamas fault, and its not going to change the minute he leaves office. We rate Cruzs statement Mostly True. Democratic congressman Beto O'Rourke of Texas came to national prominence in 2018 through his high-profile campaign to unseat incumbent Republican U.S. senator Ted Cruz. During the course of his campaign, the Democratic candidate has been confronted with various claims and allegations about himself and his family. One such meme, entitled "'Beto' Reality Check," was shared widely on Facebook in August 2018:A spokesperson for O'Rourke's campaign described the meme as "factually incorrect in countless ways" and largely referred us to several existing news reports about the allegations. The following is our breakdown of the five sections contained in the meme.O'Rourke adopted the name "Beto" to appeal to Latino voters: The meme claimed:NOT HISPANIC"Robert O'Rourke" became "Beto" for his political campaigns and on the ballot, a tactic that gives the false impression he's Latino, misleading voters in a state with many Hispanics.In fact, O'Rourke was known as "Beto" long before he entered political life, although his birth name is Robert and he appears to use both first names interchangeably. (For example, his July 2018 Federal Election Commission "Statement of Candidacy" lists his name as "Robert Beto O'Rourke.")O'Rourke told CNN that his parents referred to him as Beto "from day one," and that it "just stuck." Others have noted that the name is likely derived from a pronunciation of the Spanish "Roberto," and O'Rourke himself described it as "a nickname for Robert in El Paso." (According to the U.S. Census Bureau, around 78 percent of El Paso county residents listed themselves as being of Mexican heritage in 2016.)O'Rourke's family is of Irish heritage. According to the New York Times, his family "came over from Ireland four generations ago to work on the railroad." His father Pat O'Rourke was a prominent El Paso County official during the 1980s.A 1986 article about Pat O'Rourke in the El Paso Times referred to his then 14-year-old son as "Beto O'Rourke." In 1999, six years before O'Rourke ran for El Paso city council, the same newspaper referred to "web site designer Beto O'Rourke" in a short article about his I.T. business Stanton Street Design.After checking the archives of the El Paso Times, we found multiple references to "Beto O'Rourke" between 1986 and 2004, when O'Rourk was either a child or a businessman and had never run for political office.In March, the campaign of O'Rourke's Republican opponent, Ted Cruz, launched a radio jingle that poked fun at the name "Beto" and included the following lyrics: "I remember reading stories/Liberal Robert wanted to fit in/So he changed his name to 'Beto'/And hid it with a grin ...":FIRST LISTEN: our new 60-second statewide radio ad introducing our liberal opponent, Congressman Robert ORourke, to Texas voters.Help #KeepTexasRed: https://t.co/PVsiCtbbyL #CruzCrew #TXSen pic.twitter.com/OxK61gZ0ek Ted Cruz (@tedcruz) March 7, 2018The next day, O'Rourke posted a photograph of himself as a young boy, wearing a sweater with the nickname "Beto" stitched into it, establishing that, contrary to false accusation, he did not "change his name" for political reasons:pic.twitter.com/1IO1dgmCkv Beto O'Rourke (@BetoORourke) March 7, 2018O'Rourke used his father's connections to avoid trial for two felonies: UNPROVENThe meme claimed:FELONY ARREST RECORDAs an adult in his mid-20s, O'Rourke was caught breaking into the University of Texas El Paso. Charged with breaking and entering and burglary, he mysteriously avoided trial. A few years later, arrested for drunk driving, he again walked with a "deal." Being the song of a powerful, politically connected County Judge apparently has benefits. O'Rourke dismisses his felony convictions as "youthful pranks" and "mistakes"; it's old news, move along, nothing to see here.O'Rourke has indeed been arrested for burglary and drunk driving, a history which he has discussed several times over the course of his political career, as his spokesperson told us: "While charges were dismissed, this is something that Beto has always publicly addressed -- during his initial run for the city council, his run for Congress, in profiles written about him, during dozens of interviews, and at town halls across the state during this campaign."In a 27 August 2018 op-ed for the Houston Chronicle and  San Antonio Express-News, O'Rourke himself wrote:Twenty-three years ago I was arrested for attempted forcible entry after jumping a fence at the University of Texas at El Paso. I spent a night in the El Paso County Jail, was able to make bail the next day, and was released. Three years later, I was arrested for drunk driving -- a far more serious mistake for which there is no excuse.According to El Paso county jail records, O'Rourke was arrested for attempted burglary on 19 May 1995, when he was 22 years old. He was released from custody the same day. Court records show that the prosecutor dropped the charge in February 1996.O'Rourke was also arrested for driving while intoxicated on 27 September 1998, the day after his 26th birthday. He completed a "misdemeanor diversion program" (namely "DWI school") in October 1999, and the charge was dropped.In August 2018, the Houston Chronicle and San Antonio Express-News cited police reports, including a witness account, which suggested that the incident leading to O'Rourke's DWI arrest was relatively serious and involved a collision with another vehicle and a possible attempt by O'Rourke to leave the scene:State and local police reports obtained by the Chronicle and Express-News show that ORourke was driving drunk at what a witness called a high rate of speed in a 75 mph zone on Interstate 10 about a mile from the New Mexico border. He lost control and hit a truck, sending his car careening across the center median into oncoming lanes. The witness, who stopped at the scene, later told police that ORourke had tried to drive away from the scene. O'Rourke recorded a 0.136 and 0.134 on police breathalyzers, above a blood-alcohol level of 0.10, the state legal limit at the time.In the case of his DWI arrest, O'Rourke did not face prison time because he completed an alternative adjudication program. It's not clear why the attempted burglary charge was dropped in 1996 (we asked the O'Rourke campaign about this but didn't receive a response to that particular question in time for publication). However, we could find no evidence that O'Rourke's father had any role in either case, nor did the meme offer any evidence.Congressman O'Rourke's father Pat was the El Paso County judge until 1986 -- a kind of chief executive of the county's governing body, the Commissioners Court -- so he had not held office for nine years by the time of his son's attempted burglary arrest.O'Rourke violated 'insider trading' laws: The meme claimed:INSIDER TRADING VIOLATIONSAfter being sent a memo specifically prohibiting investment in Twitter's IPO [initial public offering], O'Rourke made a tidy one-day profit on it. When uncovered by a government watchdog, he quickly turned himself in. This violation of the STOCK Act (Stop Trading on Congressional Knowledge) is apparently a habit, as there are several other instances of this behavior; he characterizes them as mistakes.Despite the meme's claim, O'Rourke has never been charged with, or convicted of, violating any laws related to insider trading, including the STOCK Act, which bars members of the U.S. Congress from benefiting from financial transactions made on the basis of information they received in their capacity as members of Congress.But this section of the meme does contain elements of truth in that -- after the matter was brought to light by a third party -- O'Rourke reported his potential violation of rules to the House Ethics Committee (for stock transactions he maintained were executed by his broker without his knowledge), and the matter was resolved without any charges being brought against him:U.S. Rep. Beto ORourke alerted the House Ethics Committee that he might have violated a new law restricting members of Congress from engaging in certain stock transactions.It is the first case to come before the committee involving a 2012 law that prohibits members of Congress from participating in initial public offerings, or IPOs, other than what is available to members of the public generally, said Melanie Sloan, executive director of the Committee for Ethics and Responsibility in Washington, a watchdog group.ORourke, a Democrat whose district covers a portion of western Texas, reported the possible violation after Legistorm, an online news site that tracks congressional issues, informed him that his Nov. 15 disclosure saying he participated in the Twitter IPO earlier in the month might indicate a violation of a 2012 law called the Stop Trading on Congressional Knowledge Act, or STOCK Act.The freshman congressman also reported that, through his stockbroker, he participated in six other initial public offerings this year. In an interview, ORourke said he didnt see a Nov. 5 memo from the House Ethics Committee warning members of Congress about participating in IPOs.On 27 November 2013, O'Rourke wrote on Facebook that the ethics committee had informed him they would consider the issue resolved once he sold off any remaining shares that he bought during any IPOs, and sent the U.S. Treasury a check equal to the amount he earned in profits from those IPO-related shares:Upon receiving the letter from the Committee today I instructed my broker to sell all remaining shares, which he did. I then sent a check for the full amount of the profit from all IPO trades this year to the U.S. Treasury by overnight mail. Copies of the trades and the check have been sent to the Ethics Committee.I apologize to the House of Representatives and to the people I represent for not exercising due diligence. I will be much more thorough in the future concerning financial transactions and do my best to ensure that I am in full compliance with all rules covering members of Congress.Records filed with the Clerk of the House of Representatives show that O'Rourke bought between $1,000 and $15,000 worth of shares in Twitter on 7 November 2013 (the first day the company was traded on the stock market), before selling off between $1,000 and $15,000 in shares later that day.Records also indicate that on 27 November 2013, O'Rourke again sold off between $1,000 and $15,000 worth of Twitter shares "pursuant to the recommendations made by House Ethics Committee in a letter from 11/27/13."A condom full of "white powder" was found in O'Rourke's father's car: trueThe meme claimed:FATHER'S DRUG SCANDALO'Rourke's father, while county judge, had a 2-way radio installed in his Jeep. Installers discovered a condom packed with a "white powder" concealed in his vehicle and called police. Much to the dismay of investigating officers, the Captain on duty, a friend and political ally of O'Rourke, flushed the evidence down the toilet and dropped the charges. The Captain was subsequently suspended and tried for tampering with evidence.This section of the meme relates to incidents which took place in 1983, when Beto O'Rourke was 10 years old, and which had absolutely nothing to do with him.Nevertheless, it's true that in February 1983, El Paso County Sheriff's Captain Willie Hill told two police officers to get rid of a condom full of white powder which they had found in Pat O'Rourke's car while they were installing a radio in it. The officers suspected the powder to be heroin or cocaine, but the substance was never tested to determine its true nature.Hill was temporarily suspended but was reinstated after being acquitted on a misdemeanor charge of evidence tampering. (The prosecutor had earlier dropped a charge of misconduct against him.) Hill testified that he made a snap decision about the discovery of the powder, which he strongly suspected had been planted there to embarrass or undermine either O'Rourke or one of the officers installing the radio.O'Rourke and Hill were friends, as O'Rourke (then county judge) told the El Paso Times: "Because he's a good man, it would be an injustice if Willie were to suffer grievous consequences from this whole episode. You have an honest and honorable man implicated by pure fluke. And that's just damn right not fair."O'Rourke was involved in a family business that was prosecuted for tax violations: The meme claimed:FAMILY BUSINESS FEDERALLY PROSECUTEDO'Rourke's family business "Charlotte's Furniture," a store "Beto," his mother and sister are involved with, was charged in 2010 with altering records to avoid IRS reporting. Investigators found they accepted cash payments, in one instance over $630,000 from an unnamed individual (that's a LOT of furniture)! Found guilty on 15 counts, the sentence was a $250,000 fine and 5 years' probation. Around the time O'Rourke announced as a senate candidate, the business was shuttered and its records became unavailable. O'Rourke passes the prosecution off as a "mistake"; it's been covered, move along, nothing to see here.The meme got the basic facts right about the federal tax case against Charlotte's, but it falsely claimed that Congressman O'Rourke was personally "involved" in the company. He was not.In 2010, Charlotte's Inc., an El Paso furniture store company started by O'Rourke's grandmother in 1951, was convicted of "structuring transactions to evade reporting requirements, a tax-related felony. The company was charged as a corporate entity, but the Congressman's mother, Melissa O'Rourke, acted as its authorized representative.The company pled guilty to accusations that it had restructured transactions in order to present relatively large cash payments as having been made in installments of less than $10,000. Anti-money laundering provisions of U.S. law require that a business reveal the identity of any individual who makes a cash payment above that threshold.In total, Charlotte's and its employees illegally restructured $630,000 in payments, all from one customer, in this way between May 2005 and October 2006. The identity of that customer is not known. U.S. District Court judge Kathleen Cardone gave a sentence of five years' probation and a $500,000 fine, with $250,000 of that suspended.In 2017, Melissa O'Rourke announced that she intended to close down the business but denied the decision was connected to her son's U.S. Senate campaign or the 2010 conviction.According to Texas Comptroller of Public Accounts records for 2017, Congressman O'Rourke had no formal role with Charlotte's Inc., whose directors were Melissa O'Rourke and the Congressman's sister Charlotte O'Rourke.Records for 2005 and 2006 (when the I.R.S. reporting violations took place) as well as 2010 (when the conviction happened) show that Congressman O'Rourke had no formal role with the company at those times, either.The Congressman is part owner of the property where Charlotte's was located. According to O'Rourke's 2013 congressional financial disclosure, his mother gifted him an ownership stake worth between $1 million and $5 million in Peppertree Square, a shopping center on North Mesa St. in El Paso.However, his part ownership of the Peppertree Square property (which does not appear to entail any management function in any of the businesses located there) did not accrue until 31 December 2012, more than six years after the conclusion of the I.R.S. reporting violations at Charlotte's.  One such meme, entitled "'Beto' Reality Check," was shared widely on Facebook in August 2018: meme   A spokesperson for O'Rourke's campaign described the meme as "factually incorrect in countless ways" and largely referred us to several existing news reports about the allegations. The following is our breakdown of the five sections contained in the meme. The meme claimed: NOT HISPANIC "Robert O'Rourke" became "Beto" for his political campaigns and on the ballot, a tactic that gives the false impression he's Latino, misleading voters in a state with many Hispanics. In fact, O'Rourke was known as "Beto" long before he entered political life, although his birth name is Robert and he appears to use both first names interchangeably. (For example, his July 2018 Federal Election Commission "Statement of Candidacy" lists his name as "Robert Beto O'Rourke.") Statement O'Rourke told CNN that his parents referred to him as Beto "from day one," and that it "just stuck." Others have noted that the name is likely derived from a pronunciation of the Spanish "Roberto," and O'Rourke himself described it as "a nickname for Robert in El Paso." (According to the U.S. Census Bureau, around 78 percent of El Paso county residents listed themselves as being of Mexican heritage in 2016.) CNN noted listed O'Rourke's family is of Irish heritage. According to the New York Times, his family "came over from Ireland four generations ago to work on the railroad." His father Pat O'Rourke was a prominent El Paso County official during the 1980s. New York Times A 1986 article about Pat O'Rourke in the El Paso Times referred to his then 14-year-old son as "Beto O'Rourke." In 1999, six years before O'Rourke ran for El Paso city council, the same newspaper referred to "web site designer Beto O'Rourke" in a short article about his I.T. business Stanton Street Design. article article After checking the archives of the El Paso Times, we found multiple references to "Beto O'Rourke" between 1986 and 2004, when O'Rourk was either a child or a businessman and had never run for political office. In March, the campaign of O'Rourke's Republican opponent, Ted Cruz, launched a radio jingle that poked fun at the name "Beto" and included the following lyrics: "I remember reading stories/Liberal Robert wanted to fit in/So he changed his name to 'Beto'/And hid it with a grin ...": FIRST LISTEN: our new 60-second statewide radio ad introducing our liberal opponent, Congressman Robert ORourke, to Texas voters. Help #KeepTexasRed: https://t.co/PVsiCtbbyL #CruzCrew #TXSen pic.twitter.com/OxK61gZ0ek #KeepTexasRed https://t.co/PVsiCtbbyL #CruzCrew #TXSen pic.twitter.com/OxK61gZ0ek  Ted Cruz (@tedcruz) March 7, 2018 March 7, 2018  The next day, O'Rourke posted a photograph of himself as a young boy, wearing a sweater with the nickname "Beto" stitched into it, establishing that, contrary to false accusation, he did not "change his name" for political reasons: pic.twitter.com/1IO1dgmCkv pic.twitter.com/1IO1dgmCkv  Beto O'Rourke (@BetoORourke) March 7, 2018 March 7, 2018  The meme claimed: FELONY ARREST RECORD As an adult in his mid-20s, O'Rourke was caught breaking into the University of Texas El Paso. Charged with breaking and entering and burglary, he mysteriously avoided trial. A few years later, arrested for drunk driving, he again walked with a "deal." Being the song of a powerful, politically connected County Judge apparently has benefits. O'Rourke dismisses his felony convictions as "youthful pranks" and "mistakes"; it's old news, move along, nothing to see here. O'Rourke has indeed been arrested for burglary and drunk driving, a history which he has discussed several times over the course of his political career, as his spokesperson told us: "While charges were dismissed, this is something that Beto has always publicly addressed -- during his initial run for the city council, his run for Congress, in profiles written about him, during dozens of interviews, and at town halls across the state during this campaign." In a 27 August 2018 op-ed for the Houston Chronicle and  San Antonio Express-News, O'Rourke himself wrote: op-ed Twenty-three years ago I was arrested for attempted forcible entry after jumping a fence at the University of Texas at El Paso. I spent a night in the El Paso County Jail, was able to make bail the next day, and was released. Three years later, I was arrested for drunk driving -- a far more serious mistake for which there is no excuse. According to El Paso county jail records, O'Rourke was arrested for attempted burglary on 19 May 1995, when he was 22 years old. He was released from custody the same day. Court records show that the prosecutor dropped the charge in February 1996. records records O'Rourke was also arrested for driving while intoxicated on 27 September 1998, the day after his 26th birthday. He completed a "misdemeanor diversion program" (namely "DWI school") in October 1999, and the charge was dropped. arrested In August 2018, the Houston Chronicle and San Antonio Express-News cited police reports, including a witness account, which suggested that the incident leading to O'Rourke's DWI arrest was relatively serious and involved a collision with another vehicle and a possible attempt by O'Rourke to leave the scene: cited State and local police reports obtained by the Chronicle and Express-News show that ORourke was driving drunk at what a witness called a high rate of speed in a 75 mph zone on Interstate 10 about a mile from the New Mexico border. He lost control and hit a truck, sending his car careening across the center median into oncoming lanes. The witness, who stopped at the scene, later told police that ORourke had tried to drive away from the scene. O'Rourke recorded a 0.136 and 0.134 on police breathalyzers, above a blood-alcohol level of 0.10, the state legal limit at the time. In the case of his DWI arrest, O'Rourke did not face prison time because he completed an alternative adjudication program. It's not clear why the attempted burglary charge was dropped in 1996 (we asked the O'Rourke campaign about this but didn't receive a response to that particular question in time for publication). However, we could find no evidence that O'Rourke's father had any role in either case, nor did the meme offer any evidence. Congressman O'Rourke's father Pat was the El Paso County judge until 1986 -- a kind of chief executive of the county's governing body, the Commissioners Court -- so he had not held office for nine years by the time of his son's attempted burglary arrest. judge governing body The meme claimed: INSIDER TRADING VIOLATIONS After being sent a memo specifically prohibiting investment in Twitter's IPO [initial public offering], O'Rourke made a tidy one-day profit on it. When uncovered by a government watchdog, he quickly turned himself in. This violation of the STOCK Act (Stop Trading on Congressional Knowledge) is apparently a habit, as there are several other instances of this behavior; he characterizes them as mistakes. Despite the meme's claim, O'Rourke has never been charged with, or convicted of, violating any laws related to insider trading, including the STOCK Act, which bars members of the U.S. Congress from benefiting from financial transactions made on the basis of information they received in their capacity as members of Congress. STOCK Act But this section of the meme does contain elements of truth in that -- after the matter was brought to light by a third party -- O'Rourke reported his potential violation of rules to the House Ethics Committee (for stock transactions he maintained were executed by his broker without his knowledge), and the matter was resolved without any charges being brought against him: violation U.S. Rep. Beto ORourke alerted the House Ethics Committee that he might have violated a new law restricting members of Congress from engaging in certain stock transactions. It is the first case to come before the committee involving a 2012 law that prohibits members of Congress from participating in initial public offerings, or IPOs, other than what is available to members of the public generally, said Melanie Sloan, executive director of the Committee for Ethics and Responsibility in Washington, a watchdog group. ORourke, a Democrat whose district covers a portion of western Texas, reported the possible violation after Legistorm, an online news site that tracks congressional issues, informed him that his Nov. 15 disclosure saying he participated in the Twitter IPO earlier in the month might indicate a violation of a 2012 law called the Stop Trading on Congressional Knowledge Act, or STOCK Act. The freshman congressman also reported that, through his stockbroker, he participated in six other initial public offerings this year. In an interview, ORourke said he didnt see a Nov. 5 memo from the House Ethics Committee warning members of Congress about participating in IPOs. On 27 November 2013, O'Rourke wrote on Facebook that the ethics committee had informed him they would consider the issue resolved once he sold off any remaining shares that he bought during any IPOs, and sent the U.S. Treasury a check equal to the amount he earned in profits from those IPO-related shares: wrote Upon receiving the letter from the Committee today I instructed my broker to sell all remaining shares, which he did. I then sent a check for the full amount of the profit from all IPO trades this year to the U.S. Treasury by overnight mail. Copies of the trades and the check have been sent to the Ethics Committee. I apologize to the House of Representatives and to the people I represent for not exercising due diligence. I will be much more thorough in the future concerning financial transactions and do my best to ensure that I am in full compliance with all rules covering members of Congress. Records filed with the Clerk of the House of Representatives show that O'Rourke bought between $1,000 and $15,000 worth of shares in Twitter on 7 November 2013 (the first day the company was traded on the stock market), before selling off between $1,000 and $15,000 in shares later that day. filed Records also indicate that on 27 November 2013, O'Rourke again sold off between $1,000 and $15,000 worth of Twitter shares "pursuant to the recommendations made by House Ethics Committee in a letter from 11/27/13." indicate The meme claimed: FATHER'S DRUG SCANDAL O'Rourke's father, while county judge, had a 2-way radio installed in his Jeep. Installers discovered a condom packed with a "white powder" concealed in his vehicle and called police. Much to the dismay of investigating officers, the Captain on duty, a friend and political ally of O'Rourke, flushed the evidence down the toilet and dropped the charges. The Captain was subsequently suspended and tried for tampering with evidence. This section of the meme relates to incidents which took place in 1983, when Beto O'Rourke was 10 years old, and which had absolutely nothing to do with him. Nevertheless, it's true that in February 1983, El Paso County Sheriff's Captain Willie Hill told two police officers to get rid of a condom full of white powder which they had found in Pat O'Rourke's car while they were installing a radio in it. The officers suspected the powder to be heroin or cocaine, but the substance was never tested to determine its true nature. Hill was temporarily suspended but was reinstated after being acquitted on a misdemeanor charge of evidence tampering. (The prosecutor had earlier dropped a charge of misconduct against him.) Hill testified that he made a snap decision about the discovery of the powder, which he strongly suspected had been planted there to embarrass or undermine either O'Rourke or one of the officers installing the radio. being acquitted O'Rourke and Hill were friends, as O'Rourke (then county judge) told the El Paso Times: "Because he's a good man, it would be an injustice if Willie were to suffer grievous consequences from this whole episode. You have an honest and honorable man implicated by pure fluke. And that's just damn right not fair." El Paso Times The meme claimed: FAMILY BUSINESS FEDERALLY PROSECUTED O'Rourke's family business "Charlotte's Furniture," a store "Beto," his mother and sister are involved with, was charged in 2010 with altering records to avoid IRS reporting. Investigators found they accepted cash payments, in one instance over $630,000 from an unnamed individual (that's a LOT of furniture)! Found guilty on 15 counts, the sentence was a $250,000 fine and 5 years' probation. Around the time O'Rourke announced as a senate candidate, the business was shuttered and its records became unavailable. O'Rourke passes the prosecution off as a "mistake"; it's been covered, move along, nothing to see here. The meme got the basic facts right about the federal tax case against Charlotte's, but it falsely claimed that Congressman O'Rourke was personally "involved" in the company. He was not. In 2010, Charlotte's Inc., an El Paso furniture store company started by O'Rourke's grandmother in 1951, was convicted of "structuring transactions to evade reporting requirements, a tax-related felony. The company was charged as a corporate entity, but the Congressman's mother, Melissa O'Rourke, acted as its authorized representative. felony The company pled guilty to accusations that it had restructured transactions in order to present relatively large cash payments as having been made in installments of less than $10,000. Anti-money laundering provisions of U.S. law require that a business reveal the identity of any individual who makes a cash payment above that threshold. restructured provisions In total, Charlotte's and its employees illegally restructured $630,000 in payments, all from one customer, in this way between May 2005 and October 2006. The identity of that customer is not known. U.S. District Court judge Kathleen Cardone gave a sentence of five years' probation and a $500,000 fine, with $250,000 of that suspended. sentence In 2017, Melissa O'Rourke announced that she intended to close down the business but denied the decision was connected to her son's U.S. Senate campaign or the 2010 conviction. announced According to Texas Comptroller of Public Accounts records for 2017, Congressman O'Rourke had no formal role with Charlotte's Inc., whose directors were Melissa O'Rourke and the Congressman's sister Charlotte O'Rourke. records Records for 2005 and 2006 (when the I.R.S. reporting violations took place) as well as 2010 (when the conviction happened) show that Congressman O'Rourke had no formal role with the company at those times, either. Records The Congressman is part owner of the property where Charlotte's was located. According to O'Rourke's 2013 congressional financial disclosure, his mother gifted him an ownership stake worth between $1 million and $5 million in Peppertree Square, a shopping center on North Mesa St. in El Paso. disclosure However, his part ownership of the Peppertree Square property (which does not appear to entail any management function in any of the businesses located there) did not accrue until 31 December 2012, more than six years after the conclusion of the I.R.S. reporting violations at Charlotte's. O'Rourke, Robert Beto.  "Statement of Candidacy."
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  The El Paso Times.  4 August 2017. Correction [4 September 2018]: This article has been updated to more accurately describe the role of El Paso County judge. Americans are facing conflicting signals on the economy. The economy is growing rapidly, unemployment is low, and wages are rising. But inflation  a broad pattern of rising consumer prices  is at a four-decade high, and for many voters, that fact seems to be crowding out any other economic news. During a Feb. 13 roundtable discussion on ABCs This Week, panelists addressed Americans concerns about inflation. Patrick Gaspard  who served in President Barack Obamas administration and is now president and CEO of the Center for American Progress, a liberal think tank  blamed the coronavirus pandemic for inflation. We all know that inflation has been caused by the global economies shutting down all at once, reopening all at once, Gaspard said. And the fact of the matter is  that the U.S. economy is recovering at a far faster pace than any other country in the OECD. That is an absolute fact. (The OECD is the Organization for Economic Co-operation and Development, a group of38 advanced, industrialized nations.) A look at cross-national data shows that economic growth in the United States has indeed outpaced that of the other large, comparable economies, and experts agree that this rapid growth has been a factor in the United States currently high inflation rate. But rapid economic growth is not the only reason why the U.S. is experiencing high inflation. As evidence for his claim, Gaspards office pointed to areportdated Feb. 7 by the OECD. The report found that the United States was the only member of the Group of Seven industrial economies that had seen its inflation-adjusted gross domestic product rise above its pre-pandemic level. The other six nations in the G-7  Canada, France, Germany, Italy, Japan and the United Kingdom  all had yet to reach the GDP levels they had in the fourth quarter of 2019. (Gross domestic product is the sum of all economic activity in a country and is often used as the primary metric for economic growth.) This supports Gaspards comment on This Week. Other calculations further back up his assertion about robust U.S. growth. If you strip the inflation adjustment from GDP growth, to enable a cleaner comparison of GDP to inflation, the United States GDP growthranked fifthamong the nations that belong to the Group of 20 (a wider group of large economies than the G-7). In this measurement, the U.S. trailed only Turkey, India, China and South Korea. Notably, the United States growth rate exceeded that of each of its fellow G-7 members, whose economies are most similar to that of the U.S. Meanwhile, in arecent paper, Brookings Institution senior fellow Gian Maria Milesi Ferretti found much the same pattern. He compared how countries current GDP levels compared with projections made before the pandemic. The United States finished at the top of the heap in his analysis as well. There is also something to Gaspards contention that rapid economic growth and inflation are connected. When we looked at the latest annual inflation rates for the G-7 nations, we found that the U.S. had the highest inflation. However, the correlation between rapid growth and high inflation isnt perfect. Germany and Canada had the second- and third-highest inflation rates, respectively, but their economic growth barely edged into positive territory when factoring in the pandemic. And the United Kingdom and France nearly matched the U.S.s GDP growth rates but have experienced more modest inflation. Overall, Gaspards focus on rapid GDP growth as a driver of inflation is reasonable, experts said  but they added that the causes of inflation are more complicated. The current inflation is not monocausal or easily understood, said James Feyrer, a Dartmouth College economist. Ferretti said that some global factors affecting inflation are clearly at play, including higher energy prices and disruption of supply chains. Lower rates of labor force participation in the U.S., stemming heavily from pandemic factors such as a shortage of child care options, also played a role. In fact, one of the factors driving rapid growth in the U.S.  generous fiscal support from the federal government  is something that Biden did have control over. Stimulus payments and other financial support from the federal government put more money into Americans hands, driving up demand for goods amid international supply-chain challenges driven by the pandemic. Many countries adopted expansionary policies, but on the fiscal side, the U.S. really stands out, Ferretti said. With very large support to private incomes, U.S. consumption has been very strong, particularly for goods. This has clearly helped the speed of the recovery. But a combination of strong demand and labor shortages, he said, has resulted in higher inflationary pressures than in other advanced economies. In other words, where inflation is concerned, Biden isnt entirely a victim of global forces. His policies were a factor as well. Gaspard said that inflation has been caused by the global economies shutting down all at once, reopening all at once. And  the U.S. economy is recovering at a far faster pace than any other country in the OECD. The U.S. has experienced faster economic growth than most of its most direct global competitors, and experts agree that this has contributed to inflationary pressures. While many of these inflationary pressures are traceable to global factors related to the pandemic, some have flowed from the fiscal choices made by the Biden administration. We rate the statement Mostly True. In his new film,Capitalism: A Love Story, Michael Moore makes a case that the richest Americans used to shoulder a much bigger portion of the tax burden back in the years of his childhood. In the 1950s, A lot of people got rich  and they had to pay a top tax rate of 90 percent, Moore says in the film. Considering that the top marginal tax rate for the wealthiest Americans today is 35 percent, that figure seems astounding. But it's true that in the 1950s, the topmarginaltax rates were over 90 percent. So does that mean that someone in 1955 making a half million dollars had to fork over $450,000 of it to Uncle Sam? No. We are talking here about marginal tax rates. Moore doesn't go out of his way to explain this, so we will. The marginal tax rate is the top rate of income tax charged to individuals on their last dollar of earnings. So in 1955, for example, when the top marginal tax rate was 91 percent, that was the tax rate owed on a person's income over $300,000. That person would, however, pay 20 percent on the first $2,000 of income; 21 percent on the next $2,000 in income; 24 percent on the next $2,000 and graduated on up to the highest rate. On average, a person making, say, $500,000 would pay substantially less than 90 percent of their income in federal taxes. The top marginal tax rates peaked in 1952 and 1953 at 92 percent for income over $300,000. Bob Williams of the Tax Policy Center did some math for us to give this some perspective. In 1952 and 1953, Williams said, when the top income tax rate was 92 percent for income over $300,000, a person would have to make waaaay more than $300,000 to actually end up paying an average of 90 percent of their income. According to Williams, someone would have to make $2,328,400, and therefore pay $2,095,560, to get to that 90 percent threshold. But people with income of less than $2.3 million  remember we're talking about 1952 and 1953  would have paid, on average, something less than 90 percent, and perhaps much less. Still, Moore's point is valid. The top marginal tax rates paid by the richest Americans were far higher in the 1950s than they are now. In 2009, the top marginal rate was 35 percent on income above $372,958. And although Moore didn't use the term marginal tax rate, he did say top tax rate. People without CPAs might mistake that for a person's average tax rate (it's not), but it's valid wording. And so we rule this one Mostly True.