Birdwatch Note Rating
2023-03-19 19:57:48 UTC - HELPFUL
Rated by Participant: 3C8F716B628A424DF0744CBA664D1946EBEA89E4691357E54E13696D77F49869
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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