Birdwatch Note Rating
2023-03-29 10:59:25 UTC - HELPFUL
Rated by Participant: 4AA20E9D4FF8CFE198FB7286441CA987DBB0340D96CA8E4D350E125D53F00252
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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