Birdwatch Note Rating
2023-03-19 20:07:54 UTC - HELPFUL
Rated by Participant: 0C2CCD841FD36592536B6A030BC304CCFEAEE6218B8DC43EE4814877BE07D40A
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/
All Note Details