Birdwatch Note Rating
2023-03-18 21:19:33 UTC - HELPFUL
Rated by Participant: 91A630627A3C6D84BF09D490B0923D4B8E7027EC9C963C163BFECA4F88EFCA29
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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