Birdwatch Note Rating
2023-03-18 21:42:29 UTC - HELPFUL
Rated by Participant: 7FD84F2B9F12B4083C803EAB213A28C4C29E246BF455053D5A62FCB95847C8E5
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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