Birdwatch Note Rating
2023-03-18 23:11:47 UTC - HELPFUL
Rated by Participant: 2140483F585067CF2EA42E83AD82217125E6118BFDA70416C35A4A3930968C2C
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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