Birdwatch Note Rating
2023-03-19 18:51:45 UTC - HELPFUL
Rated by Participant: 35BDFFEE6AECED1246A152737EDD877BA0BAE7D5C3F51B529B99DB1EA95FDA20
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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