Claim: Social media posts have misrepresented a tax proposed in President Joe Biden's fiscal year 2025 budget. The 25% tax on unrealized capital gains would apply only to those who have a net worth of more than $100 million, not to all taxpayers as the online posts misleadingly claim.
Fact-check: Online Posts Misrepresent Biden's Proposed Tax on Unrealized Capital Gains - FactCheck.org
Verdict: social media posts have misrepresented a tax proposed in president joe biden's fiscal year 2025 budget. the 25% tax on unrealized capital gains would apply only to those who have a net worth of more than $100 million, not to all taxpayers as the online posts misleadingly claim.
Organisation: FactCheck.org
Author: Saranac Hale Spencer
Date published: 2024-09-09T23:01:31