Birdwatch Note Rating
2023-03-18 22:43:01 UTC - HELPFUL
Rated by Participant: 02DA8945EBB14B39E32EADC27A9147BF8D2811DBF8590C258E92374C9C3580D5
Participant Details
Original Note:
The 3% number Biden is referring to is based on a value increase of held investments (not on their income). However, these investments can also lose value which why they are taxed when sold and become income. Calculating on that, the avg tax rate for them is 25%, not 3. https://www.politifact.com/factchecks/2022/jul/13/joe-biden/joe-bidens-dubious-math-federal-income-tax-burden/
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