Birdwatch Note Rating
2023-03-19 05:58:06 UTC - HELPFUL
Rated by Participant: 817CFB05EF03AE1B789DE8DA2FBCD7C3C48B74D60A56DA11321C63FB74067FE8
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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