Birdwatch Note Rating
2023-03-18 21:22:01 UTC - HELPFUL
Rated by Participant: 40B8E317B70F9FD5BCF35A7F196B85F4E41B5649EA00A06D2276FFA04772EF2C
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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