Birdwatch Note Rating
2023-03-18 22:07:00 UTC - HELPFUL
Rated by Participant: 17FFA9E0E5FEC71C73D16D5EB4E5C111033C94535DAC51E11D0E262EDD2C1574
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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