Birdwatch Note Rating
2023-03-18 23:24:06 UTC - HELPFUL
Rated by Participant: 4377B4937B341F4CCBC6230D1C43175C0DA9EA468A3ED6517C3D4D4055F4E281
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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