Birdwatch Note Rating
2023-03-20 01:31:34 UTC - HELPFUL
Rated by Participant: 8125BDE51CE245A67A3CAE37B39C3BFFF24FCAF2400DEC350099C6FB54743737
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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