Tax Audit: Obama Hiding Taxpayers’ Millions in Offshore Accounts-Fiction!

Summary of eRumor:

A tax audit found that President Obama hid millions of taxpayers’ dollar in offshore accounts.

The Truth:

Reports that a tax audit revealed President Obama had stole millions from taxpayers started a fake news website.

The story appeared at The Resistance: The Last Line of Defense under the headline, “Obama Tax Audit Turns Up MILLIONS In Offshore Accounts Stolen From Taxpayers.” The report, which was quickly shared more than 10,000 times, begins:

Liberals are always on Donald Trump’s case about his tax returns. They don’t seem to get that our president doesn’t feel the need to rush to get his tax returns out because he has nothing to hide. Making them squirm and speculate is just fun. If I were Trump I’d release my tax returns promptly…on January 21st, 2025.

That’s not the case, however with former president Barry Soetoro. Using the alias he has denied is his many times, Obama was just nabbed with more than $400 million in taxpayer money sitting in accounts in the Cayman Islands, Ireland and Caledonia. The deposits, all made directly from the national treasury, are listed as “royalty payments” for Obamacare.

The false report goes on to link the millions Obama was found sheltering in offshore accounts to a little-known provision approved by the Democratic-controlled Congress in 2010 that “automatically routed to the bill’s author, Barack Obama, to cover ‘expenses and royalties associated with naming the bill.'” Of course, the idea that President Obama received royalties for the use of his name in “Obamacare” is totally false. The actual title of the bill is the Patient Protection and Affordable Care Act of 2010, not Obamacare. The ladder was a nickname assigned to the bill by GOP lawmakers and political reporters. It appears nowhere in the title or text of the bill.

And a closer read of  The Last Line of Defense disclaimer reveals how the mistake was made. The disclaimer explains that the site uses information and facts that don’t necessarily exist. In other words, it’s fake news:

DISCLAIMER: The Resistance may include information from sources that may or may not be reliable and facts that don’t necessarily exist. All articles should be considered satirical and any and all quotes attributed to actual people complete and total baloney. Pictures that represent actual people should be considered altered and not in any way real.

So, reports that President Obama stashed millions of taxpayer dollars in offshore accounts or received royalties for the use of his name in “Obamacare” are totally false.

A real example of the eRumor as it has appeared on the Internet:

Collected on: 03/13/2017
obama tax audit
Fake reports that a tax audit revealed President Obama was paid millions in royalties for Obamacare have spread across social media.