Birdwatch Note Rating
2023-03-19 07:08:31 UTC - HELPFUL
Rated by Participant: 122AAEB75B583ECB0B7C4041C2A4764D893DF9F4E803DE7E7834EA06AF43C9B4
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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