Birdwatch Note Rating
2023-03-19 03:00:01 UTC - HELPFUL
Rated by Participant: 17D7641C5540557024D586CBE54A6B6D14F2F835603A6D5605D24F980E898F1D
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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