Barack Obama says that “some billionaires have a tax rate as low as 1 percent”- False

On Dec. 6, 2011, President Barack Obama gave a speech at Osawatomie High School in Osawatomie, Kan., the site of an address by Theodore Roosevelt just over a century earlier. In it, Obama sought to warn Americans about the perils of economic inequality.

On Dec. 6, 2011, President Barack Obama spoke at Osawatomie High School in Osawatomie, Kan. We checked a tax claim he made during the speech.

Here’s what he said:

“Today, the wealthiest Americans are paying the lowest taxes in over half a century. This isn’t like in the early ‘50s, when the top tax rate was over 90 percent. This isn’t even like the early ‘80s, when the top tax rate was about 70 percent. Under President Clinton, the top rate was only about 39 percent,” he said. “Today, thanks to loopholes and shelters, a quarter of all millionaires now pay lower tax rates than millions of you, millions of middle-class families. Some billionaires have a tax rate as low as 1 percent. One percent.”

Several readers urged us to check Obama’s claim that “some billionaires have a tax rate as low as 1 percent.”

Read more and find the facts  PolitiFact | Barack Obama says that “some billionaires have a tax rate as low as 1 percent”.

About Albert N. Milliron 6987 Articles
Albert Milliron is the founder of Politisite. Milliron has been credentialed by most major news networks for Presidential debates and major Political Parties for political event coverage. Albert maintains relationships with the White House and State Department to provide direct reporting from the Administration’s Press team. Albert is the former Public Relations Chairman of the Columbia County Republican Party in Georgia. He is a former Delegate. Milliron is a veteran of the US Army Medical Department and worked for Department of Veterans Affairs, Department of Psychiatry.

Be the first to comment