Recent social media postings warn that Democratic presidential candidate Joe Biden is proposing a 2% or 3% tax on Americans’ homes.
Some include an Oct. 21 Facebook post from “David Ramsey” breaking Biden’s tax plan down. In that post he says the information about property taxes could be found somewhere 40 to 60 pages into Biden's tax plan. But is any of this true?
Does Joe Biden’s economic plan include adding a property tax on homeowners?
No. Nowhere in any analysis by nonpartisan economic sources is there such a proposal. The federal government doesn’t implement property taxes.
WHAT WE FOUND
A search through analyses by Moody’s Analytics, the Tax Foundation, and the Brookings Institution’s Tax Policy Center, all nonpartisan, found no mention of a tax on housing or property. Nor is there one mentioned in the tax plan on Biden’s website.
In fact, Biden's entire tax plan is about seven pages long. The pages where the property tax information can supposedly be found don't even exist.
One version of the social media postings shows “David Ramsey” making the Biden tax plan claim. That Ramsey is not the radio host known for his expertise in personal finance, he goes by “Dave Ramsey” on Facebook and has a verified checkmark next to his name. The David Ramsey who made the claim is unrelated.
Besides, the federal government doesn’t levy property taxes. As the National Conference of State Legislatures notes: "The federal government does not levy a general sales tax, nor does it tax property. Instead it relies almost entirely on income levies for its collections."
Property taxes fund state and local government services, such as roads, schools and libraries.
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