Name: Republican Group Selectively Edits Biden Tax Remark - FactCheck.org
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Republican Group Selectively Edits Biden Tax Remark - FactCheck.org

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While it’s true tax analysts estimate that all income groups, on average, would see an increase in their taxes under Biden’s proposal, the increases would be relatively small for all except high-income individuals and households.The America First Action ad claims “even the Tax Policy Center says taxes would increase ‘on all income groups.'” But that is also a partial quote from the nonpartisan think tank’s on Biden’s tax plan.The full sentence from the TPC analysis reads: “In 2021, the proposals would increase taxes on average on all income groups, but the highest-income households would see substantially larger increases, both in dollar amounts and as a share of their incomes.”The America First Action ad ends with another out-of-context clip of Biden saying “it could go higher.”Biden said: “We should charge people the same tax for their capital gains as their tax rate is. And I think we should raise the tax rate back to, for example, I take it back to where it was before it was reduced. It could go higher.”Biden’s restore the top marginal tax rate to 39.6% and increase the top marginal income tax rate on long-term capital gains to 39.6% for taxpayers earning more than $1 million annually.Net capital gains are currently taxed at a top rate of 20% in most cases. Although, “the tax rate on most net capital gain is no higher than 15% for most individuals,” the IRS.Editor’s Note: Swing State Watch is an occasional series about false and misleading political messages in key states that will help decide the 2020 presidential election.Ask SciCheckQ. Are vaccinated and boosted people more susceptible to infection or disease with the omicron variant than unvaccinated people?A. No. Getting vaccinated increases your protection against COVID-19. Sometimes, certain raw data can suggest otherwise, but that information cannot be used to determine how well a vaccine works.Have a question?

While it’s true tax analysts estimate that all income groups, on average, would see an increase in their taxes under Biden’s proposal, the increases would be relatively small for all except high-income individuals and households.The America First Action ad claims “even the Tax Policy Center says taxes would increase ‘on all income groups.'” But that is also a partial quote from the nonpartisan think tank’s on Biden’s tax plan.The full sentence from the TPC analysis reads: “In 2021, the proposals would increase taxes on average on all income groups, but the highest-income households would...

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Republican Group Selectively Edits Biden Tax Remark - FactCheck.org

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