Birdwatch Note Rating
2023-03-18 21:28:12 UTC - HELPFUL
Rated by Participant: 2B86755513F71A9037694265C825F03EFCEE18A67ECDF7973FF3991348C7C42E
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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