Birdwatch Note Rating
2023-03-19 05:46:58 UTC - HELPFUL
Rated by Participant: 173C8DF28CDEF5AA5B507D5FF37E6BD7AB6474FF0A2351F5C9EC098BFA8BF938
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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