Birdwatch Note Rating
2023-03-19 19:47:02 UTC - HELPFUL
Rated by Participant: 38F1A4C8A182D5E9A3B7AE1AD7E07E496B1174AB6341516D05C9B409F52FA672
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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