Is Biden implying that there might be the biggest tax hike ever in the United States?
Voting in the 2020 U.S. Election may be over, but the misinformation keeps on ticking. Never stop fact-checking. Follow our post-election coverage here. here During his 2020 presidential campaign, U.S. President Donald Trump on multiple occasions claimed his Democratic opponent Joe Biden would impose the "biggest tax increase in history" if voters elected him. In an August interview on Fox News, for instance, Trump said of Democrats: said They want to tax $4 trillion, going to be the biggest tax increase in history by far. It will triple up records, and they're big taxers. It's just something that won't work. We'll have  you will see a depression, the likes of which you have never seen. In the following weeks, he reiterated the claim  that "you are going to have the tax increase of your life" if Biden wins the 2020 election  in social media posts and during campaign events, without explaining who would bear the brunt of the alleged hike. Trump tweeted on Oct. 5: tweeted   Below is an analysis of Biden's tax proposal assessing whether it would indeed raise taxes by an amount never seen before in modern U.S. history, and who would most feel its impact. According to his campaign website, Biden ran for president on the promise that he would change multiple aspects of the country's tax system  specifically in regards to individual income and payroll taxes, business taxes, and tax expenditures. campaign website promise The proposed changes would repeal aspects of the 2017 Tax Cuts and Jobs Act, which the Trump administration and Republicans framed as a solution to fuel economic growth ,and Democrats saw as a gift to the country's richest individuals and large corporations at the expense of low-to-middle-class Americans. 2017 Tax Cuts and Jobs Act Specifically, Biden's tax plan would roll back the act's income tax reductions for the country's top bracket of taxpayers, as well as expand that category to include Americans with incomes over $400,000 annually, rather than just those who earn more than $518,400. $518,400 His proposal would also require that group of top earners to limit deductions and pay an additional Social Security payroll tax, per an analysis by Howard Gleckman, a senior fellow with the nonpartisan Urban-Brookings Tax Policy Center. Millionaires and billionaires would be subject to taxes on long-term capital gains at ordinary  not preferential  income tax rates. analysis long-term capital gains Additionally, Biden's plan would increase the top tax rate for corporations from 21% to 28% and impose a 15% minimum tax on companies' book income, according to his campaign website. It would also reduce tax subsidies for commercial real estate and fossil fuels and incentivize renewable energy investments, among other changes. All of that said, the country's richest taxpayers and corporations would cover the majority of Biden's proposed tax increases  not average Americans  both in dollar amounts and as a share of their incomes. But let's look at the anticipated impact at a granular level. All income levels would face some sort of tax burden in 2021 under Biden's plan (we explain more below), though the highest-income households would pay higher income taxes directly and see substantially larger increases than anyone else. Gleckman made the following estimations: His plan would raise taxes on households in the top 1% of the income distribution (those with income more than $837,000) by an average of about $299,000. [...] By contrast, taxpayers in the middle-income quintile (those with income between $52,000 and $93,000) would experience an average tax increase of just $260. [...] Taxpayers in the bottom quintile (those with income less than $26,000) would see an average tax increase of only $30. That added burden on low- and middle-income households representing about 2% of the proposed change  would be an indirect result of employers shifting the cost of the higher corporate tax rate to some workers. Corporations on a grand scale would slightly lower wages and investment income, which would, on average, more than offset the effects of Biden's new tax credits, the center concluded. Alicyn McLeod, a tax adviser and writer for Accounting Today, said in October 2020: Accounting Today Bidens proposal is primarily motivated by fairness. Many U.S. taxpayers are concerned that large corporations arent paying their fair share. While understandable, this position ignores the belief among many tax and economic policy experts that a significant portion of corporate taxes are ultimately paid by workers, shareholders, and consumers as opposed to companies themselves.  In sum, the overwhelming majority of Americans  those who earn $400,000 or less annually  would not see their taxes increase as a direct result of Biden's tax proposal, and the top 1% earners would shoulder the brunt of his proposed hike. But low-to-middle-class workers would see slightly lower investment returns and wages as a result of corporate tax increases, according to economists' analysis including a a budgetary model by the Wharton School of the University of Pennsylvania. budgetary model Biden's plan would raise about $3.38 trillion in additional tax revenue over 10 years, according to the university's model. Concurrently, per Gleckman's analysis, that would amount to an increase in federal revenue by about 1.5% of the country's gross domestic product (GDP). GDP is the economy's total output of goods and services, and economists rely on it greatly to measure the economy's health and how fiscal or regulatory policies could impact it  not raw dollar amounts that don't consider inflation and population changes. To determine the legitimacy of Trump's claim, we considered federal tax proposals and their impact on GDP over decades. Of almost two dozen congressional tax bills that increased federal tax revenues between 1940 and 2012, for example, the five largest tax increases raised annual revenue between 1.33% and 5.04% of GDP, according to a 2013 compilation of such records by the U.S. Department of Treasury. the U.S. Department of Treasury The following table compiled by the Tax Foundation, another independent public policy think tank, showed where Biden's plan would stand in comparison to those other proposals: Tax Foundation   According to those findings, Biden's tax proposal, if enacted by Congress, would amount to the fifth-largest tax increase since the 1940s  not the biggest hike in modern U.S. history.  Biden-Harris.  "Tale Of Two Tax Policies: Trump Rewards Wealth, Biden Rewards Work."
  Accessed 15 October 2020. Adamczyk, Alicia.  "Here's Who Would Pay More Under Joe Biden's Tax Plan."
 CNBC. 7 October 2020. Penn Wharton University of Pennsylvania.  "PWBM Analysis of The Biden Platform."
  14 September 2020. DePietro, Andrew.  "Here's How Much The Top 5% Earns In America's Largest Cities."
 Forbes.  30 June 2019. McLeod, Alicyn.  "Trump vs. Biden: Whose Tax Plan Makes For Good Tax Law?"
 AccountingToday.  14 October 2020. Frank, Robert. "Biden Defines $400,000 a Year as 'Wealthy': Here's What That Buys In A Big City."
 CNBC. 6 October 2020. Wilson, Garrett, and Erica York.  "Reviewing Joe Biden's Tax Vision."
 Tax Foundation. 20 August 2020. Fordham, Evie. "Trump Tells 'Mornings with Maria' Biden Presidency Would Bring 'Biggest Tax Increase In History'."
 FoxBusiness.  13 August 2020. Wilson, Garrett and Erica York.  "Placing Joe Biden's Tax Increases In Historical Context."
 Tax Foundation.  3 September 2020. Mermin, Gordon, et. al.  "An Analysis of Former Vice President Biden's Tax Proposals."
 Tax Policy Center.  5 March 2020.
Claim:  Axel Springer CEO Mathias Dpfner wrote an editorial for Die Welt blasting Europe for its timidity in confronting Islamic fanaticism. Status:  True. Example:  [Dpfner, 2004] A few days ago Henry Broder wrote in Welt am Sonntag, "Europe  your family name is appeasement." It's a phrase you can't get out of your head because it's so terribly true. Appeasement cost millions of Jews and non-Jews their lives as England and France, allies at the time, negotiated and hesitated too long before they noticed that Hitler had to be fought, not bound to toothless agreements. Appeasement legitimized and stabilized Communism in the Soviet Union, then East Germany, then all the rest of Eastern Europe where for decades, inhuman, suppressive, murderous governments were glorified as the ideologically correct alternative to all other possibilities. Appeasement crippled Europe when genocide ran rampant in Kosovo, and, even though we had absolute proof of ongoing mass-murder, we Europeans debated and debated and debated, and were still debating when finally the Americans had to come from halfway around the world, into Europe yet again, and do our work for us. Rather than protecting democracy in the Middle East, European appeasement, camouflaged behind the fuzzy word "equidistance," now countenances suicide bombings in Israel by fundamentalist Palestinians. Appeasement generates a mentality that allows Europe to ignore nearly 500,000 victims of Saddam's torture and murder machinery and, motivated by the self-righteousness of the peace-movement, has the gall to issue bad grades to George Bush... Even as it is uncovered that the loudest critics of the American action in Iraq made illicit billions, no, TENS of billions, in the corrupt U. N. Oil-for-Food program. And now we are faced with a particularly grotesque form of appeasement. How is Germany reacting to the escalating violence by Islamic fundamentalists in Holland and elsewhere? By suggesting that we really should have a "Muslim Holiday" in Germany. I wish I were joking, but I am not. A substantial fraction of our (German) Government, and if the polls are to be believed, the German people, actually believe that creating an Official State "Muslim Holiday" will somehow spare us from the wrath of the fanatical Islamists. One cannot help but recall Britain's Neville Chamberlain waving the laughable treaty signed by Adolph Hitler, and declaring European "Peace in our time". What else has to happen before the European public and its political leadership get it? There is a sort of crusade underway, an especially perfidious crusade consisting of systematic attacks by fanatic Muslims, focused on civilians, directed against our free, open Western societies, and intent upon Western Civilization's utter destruction. It is a conflict that will most likely last longer than any of the great military conflicts of the last century - a conflict conducted by an enemy that cannot be tamed by "tolerance" and "accommodation" but is actually spurred on by such gestures, which have proven to be, and will always be taken by the Islamists for signs of weakness. Only two recent American Presidents had the courage needed for anti-appeasement: Reagan and Bush. His American critics may quibble over the details, but we Europeans know the truth. We saw it first hand: Ronald Reagan ended the Cold War, freeing half of the German people from nearly 50 years of terror and virtual slavery. And Bush, supported only by the Social Democrat Blair, acting on moral conviction, recognized the danger in the Islamic War against democracy. His place in history will have to be evaluated after a number of years have passed. In the meantime, Europe sits back with charismatic self-confidence in the multicultural corner, instead of defending liberal society's values and being an attractive center of power on the same playing field as the true great powers, America and China. On the contrary, we Europeans present ourselves, in contrast to those "arrogant Americans", as the World Champions of "tolerance", which even Otto Schily justifiably criticizes. Why? Because we're so moral? I fear it's more because we're so materialistic, so devoid of a moral compass. For his policies, Bush risks the fall of the dollar, huge amounts of additional national debt, and a massive and persistent burden on the American economy, because unlike almost all of Europe, Bush realizes what is at stake  literally everything. While we criticize the "capitalistic robber barons" of America because they seem too sure of their priorities, we timidly defend our Social Welfare systems. Stay out of it! It could get expensive! We'd rather discuss reducing our 35-hour workweek or our dental coverage, or our 4 weeks of paid vacation, or listen to TV pastors preach about the need to "Reach out to terrorists, to understand and forgive". These days, Europe reminds me of an old woman who, with shaking hands, frantically hides her last pieces of jewelry when she notices a robber breaking into a neighbor's house. Appeasement? Europe, thy name is Cowardice. Origins:   The editorial reproduced above, entitled "Europe, Thy Name Is Cowardice," was written by Mathias Dpfner, CEO of the large German publishing firm Axel Springer, and published in the German periodical Die Welt on 20 November 2004. Axel Springer published However, many of the English-language translations of this editorial that have been circulated via the Internet (such as the one reproduced above) include alterations or additional invective not present in the original.  Here is our own translation, which we have prepared to be as faithful to the original as possible: A few days ago, Henryk M. Broder wrote in the Welt am Sonntag, "Europe  thy name is appeasement." It's a phrase you can't get out of your head because it's so painfully true.  Appeasement cost millions of Jews and Gentiles their lives as England and France, allies at the time, negotiated and hesitated far too long before realizing that Hitler had to be fought, not bound to agreements. Appeasement stabilized the Communist Soviet Union and the former East Germany, those parts of Eastern Europe where inhuman, suppressive governments were glorified as the ideological alternative. Appeasement crippled Europe when genocide ran rampant in Kosovo, and we debated and debated and were still debating when the Americans finally came in and did our work for us. Rather than protecting the only democracy in the Middle East, European appeasement, camouflaged behind the fuzzy word "equidistance," relativizes the fundamentalist Palestinian suicide bombings in Israel. Appeasement generates a mentality that allows Europe to condone the 300,000 victims of Saddam's torture and murder machinery in Iraq and condemn the actions of George Bush in the self-righteousness of the peace movement. And in the end it is also appeasement at its most grotesque when Germany reacts to the escalating violence of Islamic fundamentalists in Holland and elsewhere by proposing a national Muslim holiday.   What else has to happen before the European public and its political leadership realize that there is a form of crusade underway, an especially perfidious one of systematic attacks by fanatic Muslims targeting civilians, directed against our free, open Western societies. This is a conflict that will likely last longer than any of the great military conflicts of the last century, waged by an adversary who cannot be tamed by tolerance and accommodation but is instead spurred on by such gestures, mistaking them as signs of weakness.  Two recent American presidents had the courage needed for staunch anti-appeasement: Reagan and Bush. Ronald Reagan ended the Cold War, and Bush  supported only by the persuasive Social Democrat politician Tony Blair  recognized the danger in the Islamic war against democracy. His place in history will need to be evaluated a number of years down the road.  In the meantime, Europe snuggles into its multicultural niche instead of defending the values of a liberal society with charismatic certitude and acting as a positive center of power in a delicate balance between the true global powers, America and China. We instead present ourselves as the world champions of tolerance against the intolerants, which even Otto Schily [Germany's former Federal Minister of the Interior] justifiably criticizes. And why, actually? Because we're so moral? I fear it's more because we're so materialistic.  For his policies, Bush risks the devaluation of the dollar, huge amounts of added national debt, and a massive and lasting strain on the American economy  because everything is at stake.  Yet while America's so allegedly materialistic robber baron capitalists know their priorities, we timidly defend the benefice of our social affluence. Just stay out of it; it could get expensive.  We'd rather discuss our 35-hour workweek or our dental coverage or listen to televangelists preach about the need to "Reach out to murderers." These days, it sometimes seems that Europe is like a little old lady who cups her shaking hands around her last pieces of jewelry as a thief breaks in right next door. Europe, thy name is Cowardice. Last updated:  29 July 2006    Sources:   Dpfner, Mathias.  "Europa  Dein Name Ist Feigheit."   Die Welt.   20 November 2004. Claim:  Incentives received by consumers through the "Cash for Clunkers" program are subject to taxes.  Origins:   People are often surprised to find out that zero-cost items (e.g., prize winnings, free  goods offered as marketing promotions, items given as gifts) may not require any immediate outlay of money, but they frequently do later  in the form of taxes on the value of the goods and services received.   gifts One group recently caught by such a surprise was some consumers who took advantage of the federal government's CARS program (commonly known as "Cash for Clunkers"), which offered incentives of up to $4,500 to those who traded in qualifying "clunkers" and purchased new vehicles.   Although incentives received through participation in the CARS program are not taxable at the federal level, residents of some states may have to pay some form of state and/or local taxes (such as excise or sales taxes) on the value of the incentives.   Residents of Maryland, for example: As it turns out, each state determines whether to tax the clunker money. Pennsylvania doesn't, for example, but Maryland applies its 6 percent excise tax to the incentive. "We treat that $4,500 as a down payment toward [the] car. We still tax the total value of the car," says Caryn Coyle, a spokeswoman with the Maryland Motor Vehicle Administration,  which collects the excise tax. And you can't, say, travel up to Pennsylvania to buy your new car there to avoid the Maryland excise tax. States have pacts with one another to collect taxes owed on car purchases by residents in other states, Coyle says. So a Pennsylvania dealer would have charged the Maryland excise tax anyway if [the car had been bought there]. If it's any consolation, there's no federal tax on the clunker incentive and you may be able to deduct on your federal tax return any state or local taxes paid on a new vehicle purchased this year from Feb. 17 through Dec. 31. And Nebraska: Nebraskans who take advantage of the government's Cash for Clunkers rebate might be surprised to learn those rebates of $3,500 or $4,500 don't reduce the amount of sales tax a car buyer must pay. State Tax Commissioner Doug Ewald says he's received a number of complaints since the program started, but officials anticipated the issue and made sure that dealers knew about it beforehand. Nebraska law treats the government's clunker rebates as a "third-party rebate," so they don't reduce the taxable value of the new car like a trade-in or manufacturer's rebate does. So someone buying a $25,000 vehicle with the $4,500 clunker rebate would still have to pay taxes on $25,000. And South Dakota as well: [M]any of those cashing in on the clunkers program are surprised when they get to the treasurer's office windows. That's because the government's rebate of up to $4500 dollars for every clunker is taxable. "They didn't realize that would be taxable. A lot of people don't realize that. So they're not happy and kind of surprised when they find that out," [Minnehaha County Treasurer Pam] Nelson said. In North Carolina, however, the CARS incentives are subject to neither the state's highway use tax nor its income tax: According to the North Carolina Department of Motor Vehicles, "the highway use tax should be calculated on the final sales price of the purchased vehicle less the amount allowed for the trade in." As an example, if you bought a car with a $20,000 price tag and the dealership gave you $3,000 for your trade-in, then you got the $4,500 Cash For Clunkers incentive, you paid $12,500 for the car. That's the amount you've paid plus 3% as the standard Highway Use Tax. Hence, you are not paying taxes on the $4,500. The North Carolina Department of Revenue says because the incentive is taken as a coupon at the dealership, you will not have to file it as income on your taxes. Consumers who took advantage of the CARS program should check with their state tax departments for information about whether such incentives are taxable in their home states. Last updated:  29 August 2009    Neisteadt, Shawn.  "Some Surprised by 'Clunker' Tax.'"   KELO-TV [Sioux Falls, SD].  24 August 2009.    Zash, Chelsi.  "Can the Cash for Clunkers Incentive Be Taxed?"   WFMY-TV [Greensboro, NC].  24 August 2009.    Associated Press.  "Neb. Clunker Buyers Still Pay Full Sales Tax."    Newsday.  21 August 2009.    WJRH-TV [Tulsa, OK].  "Is Your Tax for Clunkers Taxable?"    21 August 2009. President Trump was widely criticized over Veterans Day weekend in November 2018 after he skipped an event at the Aisne-Marne American Cemetery in France commemorating the 100th anniversary of the end of World War 1 due to inclement weather.  criticized   Social media users chided Trump for bowing out of the scheduled event, which was attended by other world leaders such as Canadian Prime Minister Justin Trudeau, German Chancellor Angela Merkel, and French President Emmanuel Macron, sharing photographs of "real presidents" who had previously honored veterans while standing in the rain. chided real presidents President Trump took issue with this coverage, however, and on 13 November 2018 he took to Twitter to explain his absence (asserting that his helicopter couldn't fly because of the rain) and proclaim that he had delivered a speech in the "pouring rain" the following day but that the event was "little reported" by the "fake news": Twitter   President Trump's explanation for missing the memorial at the Aisne-Marne American Cemetery might have been regarded as questionable, but President Trump truly did deliver a speech in the rain (although we'd quibble with the assertion that it was "pouring") at the American Cemetery of Suresnes, as NBC News reported: questionable reported President Donald Trump paid tribute on Sunday to Americans who fought in the two world wars, saying the nation is forever in their debt during a visit to a cemetery in France where more than 1,500 of them are buried. Its been a wonderful two days we spent in France, and this has certainly been the highlight of the trip," Trump said in remarks that capped a weekend in Paris where he and more than 80 other world leaders marked the 100th anniversary of the end of World War I ... Standing at the presidential podium under a steady rain without an umbrella, Trump joked to six World War II veterans about their enviable position keeping them dry. You look so comfortable up there under shelter as we're getting drenched, Trump said, drawing laughter from the crowd. Very smart people. You look like youre in very good shape, all of you, he added. I hope I look like that some day. America is forever in your debt.  The ceremony in Suresnes certainly drew less attention on social media than Trump's absence at the Aisne-Marne American Cemetery the previous day did, but it isn't accurate to say that his visit to the Suresnes Cemetery was "little reported." In addition to the aforementioned NBC News report, Trump's speech was also covered by outlets such as CNN, USA Today, CBS News and Time magazine. CNN USA Today CBS News Time Despite this coverage, a number of social media users seemed surprised when they came across a photograph posted to Facebook by Dan Scavino, the White House Director of Social Media, which showed President Trump standing solemnly in the rain at a cemetery: Facebook   Social media users took to the comments section to claim that this image was fake and that Trump had been digitally inserted into the picture. While it's possible that Scavino applied some sort of filter to this photograph (Trump's outline is surprisingly crisp), a number of similar pictures can be found via news outlets such as NBC News and photography agencies such as Getty Images: NBC News Getty Images Embed from Getty Images Embed from Getty Images Jackson, David.  "President Trump Blames Secret Service for Canceling Cemetery Trip in France."
  USA Today.  13 November 2018. Lee, Carol.  "Trump Pays Tribute to the Veterans and Alliances of Two World Wars."
  NBC News.  11 November 2018. Brinlee, Morgan.  "Trump Canceled a U.S. Military Cemetery Visit Due to Rain, and Twitter Was Not Impressed."
  Bustle.  11 November 2018. Belam, Martin.  "French Army Trolls Trump with Picture of Them Training in Rain."
  Guardian.  12 November 2018. Horton, Alex.  "Trump Skipped a U.S. Cemetery Visit Abroad. The French Army Trolled Him for Avoiding the Rain.
  The Washington Post.  12 November 2018. A 30 November 2016 negotiation between Donald Trump and the company Carrier in order to keep some 1,000 jobs in the United States was soon followed by claims that he either owned (or was a shareholder in) the company or parent United Technologies: Carrier claims As part of its #TrumpLeaks program, the Democratic Coalition Against Trump has uncovered the financial disclosures Trump filed in May 2016, which shows he owns stock in UT. According to the 104-page financial disclosure form that all candidates running for President are required to fill out, Trump made between $2,501 and $5,000 in interest from an investment in United Technologies. The entry in the financial disclosure can be found on page number 45 under Part 6. The full financial disclosure can be found online here. The material quoted above cited the Democratic Coalition Against Trump, which claimed to be pursuing legal action against Federal Bureau of Investigation (FBI) head James Comey. That group was involved in several questionable efforts against Trump, and appeared to exist solely to mount legal and media-based challenges against him. Democratic Coalition Against Trump James Comey Claims that Trump owned Carrier or stock in United Technologies closely mirrored similar rumors the President-elect was similarly vested in the controversial Dakota Access Pipeline. Although the Wall Street Journal reported that Trump had at one point owned Carrier or United Technologies stock in 2014 or 2015, his 2016 Personal Financial Disclosure [PFD] did not reflect any such investment: Dakota Access Pipeline reported reflect   Trump's spokeswoman Hope Hicks said that a "goal of the immediate transfer of management of The Trump Organization and its portfolio of businesses to Donald Jr., Ivanka and Eric Trump as well as a team of highly skilled executives." Trump's transition team vowed that any holdings that represented potential conflicts of interest would be transferred before his January 2017 inauguration. In early December 2016 additional details about the Carrier deal emerged, including the total number of jobs preserved in the negotiation as well as a portion slated for outsourcing by the end of 2017. Carrier Grimaldi, James V and .  "Donald Trump Had Investments In Carrier Corp.s Parent."
  Wall Street Journal.  2 December 2016. Korte, Gregory.  "Donald Trump Financial Disclosure Report, 2016."
  USA Today.  18 May 2016. Virus:  FDIC notice of bank failure. REAL VIRUS Example:  [Collected via e-mail, October 2009] FDIC has officially named your bank a failed bank You have received this message because you are a holder of a FDIC-insuredbank account. Recently FDIC has officially named the bank you have opened your accountwith as a failed bank, thus, taking control of its assets. You need to visit the official FDIC website and perform the followingsteps to check your Deposit Insurance Coverage:  Visit FDIC website: https://www.fdic.gov/  https://www.fdic.gov/  Download and open your personal FDIC Insurance File to check your Deposit Insurance Coverage Origins:  In October 2009, Internet users began receiving e-mails purporting to have come from the Federal Deposit Insurance Corporation (FDIC), the agency that insures deposits in U.S. bank accounts.  These messages claimed that the recipients were holders of FDIC-insured bank accounts in failed banks and instructed them to click on a link to the FDIC web site in order download a file which would allow them to check their "Deposit Insurance Coverage."   However, the link embedded in the e-mail led not to the real FDIC web site, but to a spoof web site.  Attempting to download the proffered file from that site could initiate the installation of malware on the user's computer (presumably to collect sensitive personal information):  The real FDIC  put up an alert to warn consumers about this fraudulent mailing: alert The Federal Deposit Insurance Corporation (FDIC) has received numerous reports of a fraudulent e-mail that has the appearance of being sent from the FDIC. The subject line of the e-mail states: "check your Bank Deposit Insurance Coverage." The e-mail tells recipients that, "You have received this message because you are a holder of a FDIC-insured bank account. Recently FDIC has officially named the bank you have opened your account with as a failed bank, thus, taking  control of its assets." The e-mail then asks recipients to "visit the official FDIC website and perform the following steps to check your Deposit Insurance Coverage" (a fraudulent link is provided). It then instructs recipients to "download and open your personal FDIC Insurance File to check your Deposit Insurance Coverage." This e-mail and associated Web site are fraudulent. Recipients should consider the intent of this e-mail as an attempt to collect personal or confidential information, some of which may be used to gain unauthorized access to on-line banking services or to conduct identity theft. The FDIC does not issue unsolicited e-mails to consumers. Financial institutions and consumers should NOT follow the link in the fraudulent e-mail. Last updated:  28 October 2009 On Dec. 27, 2023, readers emailed Snopes to ask if it was true that former U.S. President Donald Trump had written a post on Christmas Day that included the words, "May they rot in hell." A check of Trump's posts on his social media platform, Truth Social, showed dozens of new posts ("Truths") and reposts ("Retruths") in the previous two days. Buried below all of the more recent shared posts was a "trending" post in which Trump had offered a "Merry Christmas" message on Dec. 25. That post truly did include the words, "May they rot in hell," which appeared in all capital letters. The imprecation was aimed at so-called "thugs" Trump claimed were "looking to destroy our once great USA."  The full post (archived) read as follows: post archived Merry Christmas to all, including Crooked Joe Bidens ONLY HOPE, Deranged Jack Smith, the out of control Lunatic who just hired outside attorneys, fresh from the SWAMP (unprecedented!), to help him with his poorly executed WITCH HUNT against TRUMP and MAGA. Included also are World Leaders, both good and bad, but none of which are as evil and sick as the THUGS we have inside our Country who, with their Open Borders, INFLATION, Afghanistan Surrender, Green New Scam, High Taxes, No Energy Independence, Woke Military, Russia/Ukraine, Israel/Iran, All Electric Car Lunacy, and so much more, are looking to destroy our once great USA. MAY THEY ROT IN HELL. AGAIN, MERRY CHRISTMAS! Snopes has previously published a wealth of reporting about claims mentioned in the above post: "open borders," worldwide inflation, the U.S. withdrawal from Afghanistan, the Green New Deal, U.S. President Joe Biden's plans for taxes, Biden's record on energy independence, the idea of the U.S. military being "woke," Russia's invasion of Ukraine, the war in Israel and Gaza and electric-powered vehicles. open borders worldwide inflation U.S. withdrawal from Afghanistan Green New Deal taxes energy independence woke Russia's invasion of Ukraine war in Israel and Gaza electric-powered vehicles On the same day that Trump posted his Christmas message on Truth Social, a Biden-Harris campaign spokesperson named Seth Schuster responded by calling it an "erratic Christmas Day rant," according to reporting from Washington Examiner. Washington Examiner We reached out to the Trump campaign by email to ask about the statement and will update this story if we receive a response. In addition to the Truth Social post on Christmas Day, Trump also released a video message on Christmas Eve that did not include the words, "May they rot in hell." Rather, the video simply showed Trump offering positive, forward-looking sentiments about Christmas, U.S. military servicemembers and the upcoming 2024 U.S. presidential election.  Dapcevich, Madison. Does Biden Support the Green New Deal? Snopes, 1 Oct. 2020, https://www.snopes.com/fact-check/does-biden-support-green-new-deal/. Datoc, Christian. MSN.MSN.Com, Washington Examiner, 26 Dec. 2023, https://www.msn.com/en-us/news/politics/biden-campaign-rebukes-trump-s-rot-in-hell-christmas-wish/ar-AA1m43Pg. Electric Vehicles Archives | Snopes.com. https://www.snopes.com/tag/electric-vehicles/. Huberman, Bond. About That Biden Tax Plan Meme. Snopes, 29 Oct. 2020, https://www.snopes.com/collections/about-that-biden-tax-plan-meme/. Ibrahim, Nur. Do Democrats Want Open Borders? Snopes, 17 June 2022, https://www.snopes.com/news/2022/06/17/do-democrats-want-open-borders/. Inflation Is Spiking Around the World  Not Just in US. Snopes via The Conversation, 1 Aug. 2022, https://www.snopes.com/news/2022/08/01/inflation-us-world/. Israel Hamas War Archives | Snopes.com. https://www.snopes.com/tag/israel-hamas_war/. Kasprak, Alex. Did Biden Set US Back 50 Years on Energy Independence Progress? Snopes, 15 Feb. 2021, https://www.snopes.com/fact-check/biden-energy-independence/. Liles, Jordan. Did the Trump Admin Agree to Free 5,000 Taliban Prisoners? Snopes, 12 Dec. 2022, https://www.snopes.com/fact-check/trump-5000-taliban-prisoners/. Palma, Bethania. Top General Blasts Rep. Matt Gaetz for Offensive Comment About Military Being Woke. Snopes, 24 June 2021, https://www.snopes.com/news/2021/06/24/matt-gaetz-mark-milley-woke/. Ukraine War Archives | Snopes.com. https://www.snopes.com/tag/russia-ukraine/. With unemployment remaining stubbornly high, U.S. Rep.Jim Sensenbrenner, R-Wis., was asked what the federal government could do to create jobs.The suburban Milwaukee congressman, who was first elected to the House in 1979, didnt hesitate in replying.Weve got to address the fact that we have the highest corporate tax rate in the world, Sensenbrenner told the editorial board of theMilwaukee Journal Sentinelon Sept. 29, 2011. Its 35 percent.Sensenbrenner argued that if corporate taxes in the U.S. were lower than they are in other parts of the world, more U.S.-based multinational companies would repatriate their profits back to America, creating more jobs here.Its Sensenbrenners opinion that lowering the U.S. corporate tax rate would create jobs. We cant check an opinion.But we can check whether the rate is 35 percent and if it is the highest in the world.Sensenbrenners district director, Loni Hagerup, pointed to a 2011reportfrom theOrganization for Economic Corporation and Development, a Paris-based group of 34 large, industrialized democracies.The widely quoted report says the U.S. corporate tax rate is 35 percent, tops among the member countries.Next in line were France and Belgium (both 34 percent), and then Australia, Japan, Spain and Mexico (each 30 percent).Seems pretty straightforward. Sensenbrenner is right, right?Lets first look at two points:1. Combined corporate tax rateSome analysts, when comparing countries, use the Paris groups report but cite a different figure -- the combined corporate tax rate, rather than merely the corporate tax rate. The combined rate includes not only federal but also state tax rates for corporations. The combined corporate tax rate in the U.S. is 39.2 percent, which ranks second behind Japans 39.5 percent.But Sensenbrenner was asked what the federal government could do to create jobs, so the corporate tax rate -- not the combined rate -- is relevant here.2. Limitations of the corporate rateWe consulted experts at two Washington, D.C. research organizations --TaxFoundationpresidentScottHodgeandRoberton Williams, senior fellow at theTax Policy Center. Both said Sensenbrenner is correct in stating that the U.S. corporate tax rate is 35 percent and that the rate is the highest in the world, but they added some context to the discussion.Williams said the corporate tax rate is not a good measure of the taxes that corporations actually pay. While some corporations might pay the full 35 percent rate, many pay considerably less, depending on the types of investments they make, depreciation they take and other factors that reduce taxable income, he said.Hodge agreed. He added, however, that the effective federal tax rate (after deductions) that corporations pay is about 26 percent -- and that also is among the highest rates of all industrialized nations.Our conclusionAsked what the federal government could do to create jobs, Sensenbrenner said lower the corporate tax rate, which he said was 35 percent and the highest in the world. A widely quoted annual report says the U.S. corporate tax rate is 35 percent and is highest among 34 large, industrialized countries. Two experts agreed with the rate and the ranking.We rate Sensenbrenners claim True. In August 2020, some users of Gmail, the Google email service, reported receiving a message with the subject line, "Notice of Class Action Settlement re Google Plus  Your Rights May Be Affected." The email claimed that users of the now-defunct Google Plus social network, which was owned and operated by Google, may be eligible for a cash payment from a 2018 lawsuit settlement. The email directed them to a website that outlined options for receiving the payment. The lawsuit was reportedly the result of a data breach that exposed the private information of hundreds of thousands of Google Plus users.  website Snopes readers and many online users speculated it was a scam, given that the email began with the words, You are not being sued. scam Despite the apprehension of users, we learned that this email did indeed come from Google, referred to a real settlement, and that users could indeed receive a cash payment.    The email said:  You are not being sued. This notice affects your rights. Please read it carefully. On June 10, 2020, the Honorable Edward J. Davila of the U.S. District Court for the Northern District of California, granted preliminary approval of this class action Settlement and directed the litigants to provide this notice about the Settlement. You have received this notice because Googles records indicate that you may be a Settlement Class Member, and you may be eligible to receive a payment from the Settlement. Please visit www.GooglePlusDataLitigation.com for more information. The Final Approval Hearing on the adequacy, reasonableness, and fairness of the Settlement will be held at 9:00 am on November 19, 2020 [...] You are not required to attend the Final Approval Hearing, but you are welcome to do so at your own expense. In a statement to the business magazine Fast Company, and in a tweet, Google confirmed that the email and its contents were real. Responding to a Twitter user who asked if the email was a scam, Gmails verified account directed the person to the aforementioned website: Fast Company tweet   Snopes reached out to Google for confirmation, and we will update this post if we receive more information. The situation that led to Gmail users receiving the email began in 2018 with a lawsuit resulting from a privacy blunder. Earlier that year, Google discovered that software bugs exposed data of up to 500,000 users of Google Plus since 2015. Google later claimed that the data included names, email addresses, age, gender, and occupation. The breach allowed third-party developers to potentially access this information, though the company claimed it found no evidence that anyone misused or stole the data. The technology giant plugged the data leak in March 2018, but did not publicize it. After a Wall Street Journal report exposed the leak in October 2018, a number of plaintiffs filed a lawsuit against Google on behalf of users reportedly affected by the exposure of their personal data. Google Plus was shuttered by early 2019.  privacy blunder potentially access Wall Street Journal lawsuit In August 2020, some Gmail users received the email from the email address google-noreply@google.com, alerting them about the June of 2020 lawsuit settlement, which required that Google pay $7.5 million in payments to claimants and other associated fees. Claimants were defined in the email as, all persons within the United States who (a) had a consumer Google+ account for any period of time between January 1, 2015 and April 2, 2019, and (2) had their non-public Profile Information exposed as a result of the software bugs Google announced. The website GooglePlusDataLitigation.com also offered options for claimants, which ranged from submitting a claim by Oct. 8, 2020, opting out of the settlement, filing an objection to the settlement, or doing nothing. The claim form requires users to fill out their name and contact information and confirm they used Google Plus within the stipulated period of time mentioned above. GooglePlusDataLitigation.com claim form As it turned out, the actual amount of cash one could receive wasnt too much. Claimants could get the tidy sum of up to $5 or $12  depending on the number of people who filed valid claims  but would have to waive their right to future litigation against Google in relation to this case. According to the email: If sufficient funds remain after calculation of the aggregate initial maximum distribution of US$5.00 per Claimant, the allocation shall be recalculated on a pro rata basis up to a maximum distribution of up to US$12.00 per Claimant. For clarity, the maximum Settlement Payment to be made to any single Claimant shall not exceed US$12.00. In summary, based on confirmation from Google on multiple platforms about the veracity of the email, and the process of receiving funds from the settlement, we rate this claim as True. Google Plus Profile Litigation. "Case No. 5:18-CV-06164-EJD (VKD)
United States District Court Northern District of California."
 Accessed 6 August 2020. MacMillan, Douglas and Robert McMillan. "Google Exposed User Data, Feared Repercussions of Disclosing to Public."
 The Wall Street Journal. 8 October 2018. Newman, Jared. "Google Admits to Potential Google+ Data Leak After Getting Caught."
 Fast Company. 8 October 2020. Newman, Lily Hay. "Google's Privacy Whiplash Shows Big Tech's Inherent Contradictions."
 Wired. 8 October 2018. Zara, Christopher. "Whats Up With That Google Plus Lawsuit Settlement Email? Its Real, But its Also Weird."
 Fast Company. 5 August 2020. Snopes is still fighting an infodemic of rumors and misinformation surrounding the COVID-19 pandemic, and you can help. Find out what we've learned and how to inoculate yourself against COVID-19 misinformation. Read the latest fact checks about the vaccines. Submit any questionable rumors and advice you encounter. Become a Founding Member to help us hire more fact-checkers. And, please, follow the CDC or WHO for guidance on protecting your community from the disease.  fighting Find out Read Submit Become a Founding Member CDC WHO In November 2020, as news broke that a vaccination for COVID-19 was being prepared for distribution, a rumor started circulating on social media that the pharmaceutical company GlaxoSmithKline owned a laboratory in Wuhan, China -- the Wuhan Institute of Virology -- where conspiracy theorists falsely maintain the COVID-19 pandemic originated.  This rumor, which reads like a game of six-degrees of separation, attempts to trace a line from GlaxoSmithKline, to the Wuhan Institute of Virology, to the pharmaceutical company Pfizer, to billionaire philanthropist and frequent right-wing boogeyman George Soros, and, in some iterations of this rumor, to Microsoft CEO Bill Gates. iterations Here's one version of the rumor that was posted to Twitter:   This tweet reads: "The Chinese biological laboratory in Wuhan is owned by Glaxo! Who, by cnance [sic], owns Pfizer! (the one who produces the vaccine!) Which, by chance, is managed by Black Rock finances. Who, by chance, manages the finances of the Open Foundation Company (SOROS FOUNDATION)!" This nonsensical game of connect the dots starts with a false assertion. The pharmaceutical company GlaxoSmithKline does not own the Wuhan Institute of Virology. The Wuhan Institute of Virology  a research lab in China that has been the center of conspiracy theories since the beginning of the COVID-19 pandemic  is operated by the Chinese Academy of Sciences (CAS), and is funded, in large part, by the Chinese government. It is not owned by GlaxoSmithKline or any other private company. funded "Over the past 40 years, half of its income has come directly from central-government investment; the rest has been from competitive funding or technology transfer. CAS could not develop without the funding and support of the central government." It's also false to say that GlaxoSmithKline owns the pharmaceutical company Pfizer.  While these two companies share some common interests  in 2018, they announced a joint venture that combined their consumer health businesses  they remain two distinct companies. The Wall Street Journal reported at the time: Wall Street Journal Pfizer Inc. and GlaxoSmithKline PLC plan to combine their consumer health-care units and eventually spin off the joint venture, creating the worlds largest seller of drugstore staples like Advil and Sensodyne toothpaste. The deal, announced Wednesday, will free up both companies to concentrate on prescription medicines, which tend to be more profitable if also higher risk. The joint venture represents an unexpected conclusion to a yearlong process by Pfizer to shed its consumer business, as it and other pharmaceutical companies focus on higher-margin prescription drugs. While Glaxo has shared that focus, the British drugmaker had remained committed to its consumer business, which its chief executive led before her promotion to the top job last year. This joint venture, however, did not involve one company buying the other.  This rumor appears to have been created with the intent of stirring up confusion and skepticism over the COVID-19 vaccine by connecting pharmaceutical companies to a laboratory in Wuhan, China. GlaxoSmithKline, however, does not own the Wuhan Institute of Virology. Furthermore, claims that COVID-19 was "manufactured," or that it "escaped from" this Chinese lab, are nothing more than baseless conspiracy theories. Claim:  Photograph shows military jets in formation spelling out an obscene phrase.  Examples:  [Collected via e-mail, January 2011] Look at it very very carefully - until you can appreciate the message. Final Harrier salute The Harrier boys might appreciate this  view from the left side and at a distance (or half close your eyes) if you cant see the message immediately. Looks like the Joint force Harrier Pilots had a few thoughts on the decision to axe the Harrier.  [Collected via e-mail, November 2011] BRIT'S SPECIAL HARRIER JETS FLY-BY 'SALUTE' TO OBAMA I'll BET YOU A $100 to a nickel... he never noticed what the position of the aircraft were spelling.... until one of his aides told him... Way to go Brits..... love it. In case Obama didn't understand how the Brits felt when he sent the bust of Churchill back to England, a gift from the English during the Bush administration. These pilots have not forgotten Obama's disrespect for America's friend and ally. YOU HAVE TO LOOK REALLY CLOSE IT SPELLS OUT 2 WORDS Subject: Harrier jets fly past special salute to Obama to a select few. ENJOY the Brits humor on Obama's last visit. They will never forget nor forgive! The Brits may be prim and proper but they still get their point across. Harrier jets' fly past (fly-bys) over Downing Street in a air show salute to Obama. It's good to see the RAF have a sense of humor. Look at it from an angle or lean back in your chair, and squint; squinting works best.     Origins:  As indicated by the examples reproduced above, we originally happened upon this image at the beginning of 2011 when it was positioned as a Joint Force Harrier pilots' expression of disgruntlement with the UK government's decision to discontinue operations with the BAE Systems Harrier GR9/9A ground-attack aircraft, and we encountered it again at the end of 2011, when it was claimed to be a British protest over President Obama's returning a bust of Winston Churchill which had been loaned to President Bush by former British prime minister Tony Blair following the September 11 attacks in 2001.  discontinue returning Neither explanation is correct, among other reasons because any such event would have received widespread coverage in the UK yet nary a mention of it appeared in the British press.  This image is an obvious digital creation, supposedly featuring a staggering total of nearly four dozen different aircraft (the actual farewell formation flight of Joint Force Harriers involved only sixteen planes) which all have exactly the same profile in flight, all flying with the very same attitude, with no visible individual variations in size, shape, or distance between any of the jets. A similar digital manipulation can be seen in a much-circulated image claimed to be  a photograph of jets from Randolph Air Force Base spelling out "USA." Randolph Last updated:  27 July 2012