Birdwatch Note Rating
2023-03-18 21:29:46 UTC - HELPFUL
Rated by Participant: 0FE44E5C168DB1D75CF5BEDDD9276AE48FCFEE050F0F8E4EEB0AA1929590D3DF
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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