Birdwatch Note Rating
2023-03-19 03:52:45 UTC - HELPFUL
Rated by Participant: 921015148112E229EF53EE3D65A75F0BCB2EE9155C77248EA4A0BD7950483892
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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