In his remarks today about tax loopholes, President Obama recalled a building in the Cayman Islands “that had over 12,000 businesses claim this building as their headquarters,” going on to say either “this is the largest building in the world, or the largest tax scam in the world.”

Obama used this line a few times early in the campaign, but largely retired it after fact-checkers found it to be bogus. As the non-partisan St. Petersburg Times’ Politifact reported: “Calling the practice ‘the biggest tax scam on record’ is questionable.”

Not only did Obama promise to shutter the businesses that house there, he projected billions of dollars of more tax revenue in the process. But Politifact also said those promises were ridiculous:

Experts say any attempts at reform, while perhaps worthwhile, will not lead to a honeypot for domestic initiatives.

“There’s absolutely no question that there’s a lot of international tax avoidance,” said Eric Toder, an expert with the nonpartisan Urban Institute in Washington, D.C. “But I would be skeptical of any politician who is promising to get a lot of revenue.”

Obama’s had a tough couple of weeks, so it’s no surprise that he’s slipping back into tested campaign pitches. But now that he’s not a candidate, this sort of misleading rhetoric is less forgiving.