Birdwatch Note Rating
2023-03-18 21:20:13 UTC - NOT_HELPFUL
Rated by Participant: 3925D44832C6985A6ED3528C0418EE69CD873D008BB00ED29749CC98BC759763
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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