Birdwatch Note Rating
2023-03-19 02:56:30 UTC - HELPFUL
Rated by Participant: 939F2BF79D1D7461463CD75BB1D1994A358281769D46C135D5E45EFAE08FA0A2
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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