Birdwatch Note Rating
2023-03-18 23:27:01 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 1A2DA7E8AC13DC9BE49449925A886A26C54AB2DA3477BA403DBBAFA3F9357E30
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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