Birdwatch Note Rating
2023-03-19 01:26:03 UTC - HELPFUL
Rated by Participant: 616C64F11C50143836A9DE926E7C71911080FA1FC77AA47D389E0F160086FD6F
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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