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Economics & Business Fact-Checks

Fact-checks about economic claims, business statistics, financial information, and market data.

Home › Fact-Checks › Economics & Business
20 fact-checks
16 debunked
4 verified true
FALSE
Most millionaires inherited their wealth
91% confidence 1,413 views
→ TRUE
The US national debt has exceeded 30 trillion dollars
99% confidence 454 views
→ FALSE
Amazon pays no federal income taxes
88% confidence 405 views
→ FALSE
The US dollar is backed by gold
99% confidence 382 views
→ FALSE
The stock market's short-term movements accurately reflect the health of the overall economy
88% confidence 93 views
→ FALSE
Raising the minimum wage always causes significant net job losses
85% confidence 92 views
→ FALSE
GDP growth always translates directly into higher wages for average workers
97% confidence 61 views
→ FALSE
Cutting taxes always increases total government tax revenue
97% confidence 53 views
→ FALSE
Bitcoin transactions are completely anonymous and untraceable
98% confidence 51 views
→ TRUE
The United States printed paper money made partly from cotton, not wood pulp
95% confidence 25 views
→ FALSE
The stock market crash of 1929 was the sole cause of the Great Depression
97% confidence 21 views
→ FALSE
The stock market always goes up over any 20-year period
85% confidence 20 views
→ FALSE
Inflation only hurts the wealthy and not everyday consumers
98% confidence 19 views
→ FALSE
Universal basic income experiments have shown recipients stop working entirely
92% confidence 17 views
→ TRUE
The dot-com bubble burst wiped out trillions of dollars in market value in the early 2000s
95% confidence 13 views
→ FALSE
The stock market predicts recessions with perfect accuracy every time it drops significantly
97% confidence 10 views
→ FALSE
Online piracy has been definitively proven to cause a one-to-one loss in legitimate sales
95% confidence 10 views
→ FALSE
The stock market crash of 1987 was caused primarily by a single news headline
90% confidence 9 views
→ TRUE
GDP does not account for unpaid labor such as housework and caregiving
95% confidence 8 views
→ FALSE
Government stimulus checks during economic downturns are always immediately saved rather than spent
97% confidence 7 views
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