Birdwatch Note Rating
2023-03-19 06:36:47 UTC - HELPFUL
Rated by Participant: 8A58F3D32F57C58D279135086CFA4AE5C5F8495D943EEA7927566FCE6CC5EBBA
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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