Joe Biden made a lot of claims about Mitt Romney and the Republican presidential nominee's policies during his fiery speech at the Democratic National Convention Thursday night, but one of them may have been a bit overblown.

Biden slammed Romney’s proposal to overhaul the system for taxing corporations’ overseas profits. Under current U.S. tax laws, companies are responsible for paying taxes on the profits they earn abroad; they get credits for paying foreign taxes on their profits and don’t have to pay U.S. taxes until they bring the money home. But under Romney’s proposal, according to Bloomberg, companies wouldn’t owe much to the U.S. government in taxes on what they make overseas.

Biden said of Romney's proposal Thursday night:

Governor Romney believes in this global economy it doesn't matter much where American companies invest and put their money or where they create jobs. As a matter of fact, in his budget proposal, in his tax proposal, he calls for a new tax. It's called a territorial tax, which the experts have looked at, and they acknowledge it will create 800,000 new jobs -- all of them overseas, all of them.

The only problem: Biden’s 800,000 jobs claim makes a lot of assumptions based on just one study. According to Bloomberg, the findings come from a July study by Reed professor Kimberly Clausing, who offered an analysis of a pure territorial tax system, or one in which companies would pay no U.S. taxes on the profits they make overseas. It’s unclear if Romney’s plan would entirely eliminate U.S. taxes on overseas profits.

In addition, Clausing's study assumes the U.S. corporate tax rate -- which at 35 percent is relatively high, compared to that of other countries -- would stay about the same under a territorial tax system, pushing companies to make their money overseas, where corporate tax rates have been on the decline since 2008.

President Obama has called for lowering that tax rate to 28 percent, while Mitt Romney wants it cut to 25 percent.

After Clausing released her study in July, conservative outlets pounced, noting that she had donated to President Obama’s reelection campaign.

As it turns out, some Obama advisers think a territorial tax would be a good idea. Business leaders on Obama’s Export Council and on his Council on Jobs and Competitiveness have supported the idea of a territorial tax in the past, according to ABC News’ Jake Tapper. And it seems to be working for other countries; 25 out of the 34 countries in the Organisation of Economic Cooperation and Development use a territorial tax system.

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  • First lady Michelle Obama waves to delegates at the Democratic National Convention in Charlotte, N.C., on Tuesday, Sept. 4, 2012. (AP Photo/David Goldman)

  • US-VOTE-2012-DEMOCRATIC CONVENTION

    First Lady Michelle Obama delivers a speech at the Time Warner Cable Arena in Charlotte, North Carolina, on September 4, 2012 on the first day of the Democratic National Convention (DNC). The DNC is expected to nominate US President Barack Obama to run for a second term as president. AFP PHOTO Robyn BECK (Photo credit should read ROBYN BECK/AFP/GettyImages)

  • First lady Michelle Obama waves after addressing the Democratic National Convention in Charlotte, N.C., on Tuesday, Sept. 4, 2012. (AP Photo/Jae C. Hong)

  • First lady Michelle Obama waves after addressing the Democratic National Convention in Charlotte, N.C., on Tuesday, Sept. 4, 2012. (AP Photo/Jae C. Hong)

  • First lady Michelle Obama waves to delegates at the Democratic National Convention in Charlotte, N.C., on Tuesday, Sept. 4, 2012. (AP Photo/Jae C. Hong)

  • First lady Michelle Obama addresses the Democratic National Convention in Charlotte, N.C., on Tuesday, Sept. 4, 2012. (AP Photo/David Goldman)

  • First Lady Michelle Obama waves to delegates at the Democratic National Convention in Charlotte, N.C., on Monday, Sept. 3, 2012. (AP Photo/David Goldman)

  • US-VOTE-2012-DEMOCRATIC CONVENTION

    First Lady Michelle Obama speaks to the crowd at the Time Warner Cable Arena in Charlotte, North Carolina, on September 4, 2012 on the first day of the Democratic National Convention (DNC). The DNC is expected to nominate US President Barack Obama to run for a second term as president. AFP PHOTO Stan HONDA (Photo credit should read STAN HONDA/AFP/GettyImages)

  • Democratic National Convention: Day 1

    CHARLOTTE, NC - SEPTEMBER 04: First lady Michelle Obama speaks on stage during day one of the Democratic National Convention at Time Warner Cable Arena on September 4, 2012 in Charlotte, North Carolina. The DNC that will run through September 7, will nominate U.S. President Barack Obama as the Democratic presidential candidate. (Photo by Streeter Lecka/Getty Images)

  • Democratic National Convention: Day 1

    CHARLOTTE, NC - SEPTEMBER 04: People hold signs that read 'We Love Michelle' as First lady Michelle Obama speaks on stage during day one of the Democratic National Convention at Time Warner Cable Arena on September 4, 2012 in Charlotte, North Carolina. The DNC that will run through September 7, will nominate U.S. President Barack Obama as the Democratic presidential candidate. (Photo by Streeter Lecka/Getty Images)

  • Democratic National Convention: Day 1

    CHARLOTTE, NC - SEPTEMBER 04: First lady Michelle Obama speaks on stage during day one of the Democratic National Convention at Time Warner Cable Arena on September 4, 2012 in Charlotte, North Carolina. The DNC that will run through September 7, will nominate U.S. President Barack Obama as the Democratic presidential candidate. (Photo by Joe Raedle/Getty Images)

  • Democratic National Convention: Day 1

    CHARLOTTE, NC - SEPTEMBER 04: First lady Michelle Obama speaks on stage during day one of the Democratic National Convention at Time Warner Cable Arena on September 4, 2012 in Charlotte, North Carolina. The DNC that will run through September 7, will nominate U.S. President Barack Obama as the Democratic presidential candidate. (Photo by Joe Raedle/Getty Images)

  • Democratic National Convention: Day 1

    CHARLOTTE, NC - SEPTEMBER 04: First lady Michelle Obama speaks on stage during day one of the Democratic National Convention at Time Warner Cable Arena on September 4, 2012 in Charlotte, North Carolina. The DNC that will run through September 7, will nominate U.S. President Barack Obama as the Democratic presidential candidate. (Photo by Win McNamee/Getty Images)

  • Democratic National Convention: Day 1

    CHARLOTTE, NC - SEPTEMBER 04: First lady Michelle Obama waves on stage during day one of the Democratic National Convention at Time Warner Cable Arena on September 4, 2012 in Charlotte, North Carolina. The DNC that will run through September 7, will nominate U.S. President Barack Obama as the Democratic presidential candidate. (Photo by Justin Sullivan/Getty Images)

  • Democratic National Convention: Day 1

    CHARLOTTE, NC - SEPTEMBER 04: First lady Michelle Obama speaks on stage during day one of the Democratic National Convention at Time Warner Cable Arena on September 4, 2012 in Charlotte, North Carolina. The DNC that will run through September 7, will nominate U.S. President Barack Obama as the Democratic presidential candidate. (Photo by Joe Raedle/Getty Images)

  • Democratic National Convention: Day 1

    CHARLOTTE, NC - SEPTEMBER 04: First lady Michelle Obama takes the stage during day one of the Democratic National Convention at Time Warner Cable Arena on September 4, 2012 in Charlotte, North Carolina. The DNC that will run through September 7, will nominate U.S. President Barack Obama as the Democratic presidential candidate. (Photo by Alex Wong/Getty Images)

  • Democratic National Convention: Day 1

    CHARLOTTE, NC - SEPTEMBER 04: First lady Michelle Obama waves as she takes the stage during day one of the Democratic National Convention at Time Warner Cable Arena on September 4, 2012 in Charlotte, North Carolina. The DNC that will run through September 7, will nominate U.S. President Barack Obama as the Democratic presidential candidate. (Photo by Win McNamee/Getty Images)

  • Democratic National Convention: Day 1

    CHARLOTTE, NC - SEPTEMBER 04: First lady Michelle Obama waves as she takes the stage during day one of the Democratic National Convention at Time Warner Cable Arena on September 4, 2012 in Charlotte, North Carolina. The DNC that will run through September 7, will nominate U.S. President Barack Obama as the Democratic presidential candidate. (Photo by Alex Wong/Getty Images)

  • Michelle Obama

    First Lady Michelle Obama waves as she appears on the stage for filming a campaign video at the Democratic National Convention inside Time Warner Cable Arena in Charlotte, N.C., on Monday, Sept. 3, 2012. (AP Photo/Jae C. Hong)

  • Michelle Obama, Kal Penn

    First Lady Michelle Obama hugs actor Kal Penn after filming a campaign video at the Democratic National Convention inside Time Warner Cable Arena in Charlotte, N.C., on Monday, Sept. 3, 2012. (AP Photo/Jae C. Hong)

  • Michelle Obama, Kal Penn

    First Lady Michelle Obama appears on the stage with actor Kal Penn for filming a campaign video at the Democratic National Convention inside Time Warner Cable Arena in Charlotte, N.C., on Monday, Sept. 3, 2012. (AP Photo/Jae C. Hong)

  • Michelle Obama, Kal Penn

    First Lady Michelle Obama appears on the stage with actor Kal Penn for filming a campaign video at the Democratic National Convention inside Time Warner Cable Arena in Charlotte, N.C., on Monday, Sept. 3, 2012. (AP Photo/Jae C. Hong)

  • Michelle Obama

    First Lady Michelle Obama waves as she appears at the podium for a camera test on the stage at the Democratic National Convention inside Time Warner Cable Arena in Charlotte, N.C., on Monday, Sept. 3, 2012. (AP Photo/Jae C. Hong)

  • Michelle Obama

    First Lady Michelle Obama gestures as she appears at the podium for a camera test on the stage at the Democratic National Convention inside Time Warner Cable Arena in Charlotte, N.C., on Monday, Sept. 3, 2012. (AP Photo/Jae C. Hong)

  • First Lady Michelle Obama talks to a production manager during a sound check for the Democratic National Convention in Charlotte, N.C., on Monday, Sept. 3, 2012. (AP Photo/Lynne Sladky)

  • Michelle Obama

    First Lady Michelle Obama waves as she appears at the podium for a camera test on the stage at the Democratic National Convention inside Time Warner Cable Arena in Charlotte, N.C., on Monday, Sept. 3, 2012. (AP Photo/David Goldman)

  • First Lady Michelle Obama smiles for cameras while working with a production manager during a sound check for the Democratic National Convention in Charlotte, N.C., on Monday, Sept. 3, 2012. (AP Photo/Lynne Sladky)

  • Michelle Obama, David Cove

    First Lady Michelle Obama listens to head stage manager David Cove at the podium for a camera test on the stage at the Democratic National Convention inside Time Warner Cable Arena in Charlotte, N.C., on Monday, Sept. 3, 2012. (AP Photo/Jae C. Hong)

  • Michelle Obama

    First Lady Michelle Obama looks over the podium during a sound check at the Democratic National Convention in Charlotte, N.C., on Monday, Sept. 3, 2012. (AP Photo/J. Scott Applewhite)

  • Michelle Obama

    First Lady Michelle Obama waves from the podium during a sound check at the Democratic National Convention in Charlotte, N.C., on Monday, Sept. 3, 2012. (AP Photo/J. Scott Applewhite)

  • First Lady Michelle Obama performs a sound check on the main stage for the Democratic National Convention in Charlotte, N.C., on Monday, Sept. 3, 2012. (AP Photo/Lynne Sladky)

  • Michelle Obama

    First Lady Michelle Obama waves as she appears at the podium for a camera test on the stage at the Democratic National Convention inside Time Warner Cable Arena in Charlotte, N.C., on Monday, Sept. 3, 2012. (AP Photo/Charles Dharapak)

  • First Lady Michelle Obama walks to center stage with a production manager during a sound check for the Democratic National Convention in Charlotte, N.C., on Monday, Sept. 3, 2012. (AP Photo/Charlie Neibergall)

  • Michelle Obama, David Cove

    First Lady Michelle Obama appears at the podium for a camera test as head stage manager David Cove, right, instructs on the stage at the Democratic National Convention inside Time Warner Cable Arena in Charlotte, N.C., on Monday, Sept. 3, 2012. (AP Photo/Charles Dharapak)

  • First Lady Michelle Obama listens to a production manager during a sound check for the Democratic National Convention in Charlotte, N.C., on Monday, Sept. 3, 2012. (AP Photo/Charlie Neibergall)

  • Michelle Obama

    First Lady Michelle Obama answers a question during a television interview at the Democratic National Convention in Charlotte, N.C., on Monday, Sept. 3, 2012. (AP Photo/J. Scott Applewhite)

  • First Lady Michelle Obama gestures while being interviewed in a television studio before the Democratic National Convention in Charlotte, N.C., on Monday, Sept. 3, 2012. (AP Photo/J. Scott Applewhite)