Birdwatch Archive

Birdwatch Note

2023-04-22 16:50:28 UTC - MISINFORMED_OR_POTENTIALLY_MISLEADING

Biden’s 8% tax rate claim comes from a theoretical calculation that included unrealized capital gains (increase in the value of unsold stocks) as income, which does NOT align with US tax laws. In reality, tax liability occurs once stocks are sold for actual profit. https://www.politifact.com/factchecks/2022/jul/13/joe-biden/joe-bidens-dubious-math-federal-income-tax-burden/ https://www.factcheck.org/2023/02/bidens-tax-rate-comparison-for-billionaires-and-schoolteachers/ https://www.cnn.com/2023/02/17/politics/biden-economy-facts-first/index.html#:~:text=billionaires%20and%20taxes

Written by 2F1E148E62276FF995A4480A9B87C1F2CAAFC522D4E432927F446677D1ACD5FE
Participant Details

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• noteAuthorParticipantId - 2F1E148E62276FF995A4480A9B87C1F2CAAFC522D4E432927F446677D1ACD5FE Participant Details
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• classification - MISINFORMED_OR_POTENTIALLY_MISLEADING
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• summary
• Biden’s 8% tax rate claim comes from a theoretical calculation that included unrealized capital gains (increase in the value of unsold stocks) as income, which does NOT align with US tax laws. In reality, tax liability occurs once stocks are sold for actual profit. https://www.politifact.com/factchecks/2022/jul/13/joe-biden/joe-bidens-dubious-math-federal-income-tax-burden/ https://www.factcheck.org/2023/02/bidens-tax-rate-comparison-for-billionaires-and-schoolteachers/ https://www.cnn.com/2023/02/17/politics/biden-economy-facts-first/index.html#:~:text=billionaires%20and%20taxes