Birdwatch Note Rating
2023-03-19 02:05:49 UTC - HELPFUL
Rated by Participant: 4B00E027468E341F196121248AAC370A0C5E50C69FC22746FC1F18EB6026F248
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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