Birdwatch Note Rating
2023-03-19 05:27:40 UTC - NOT_HELPFUL
Rated by Participant: A676BCBE3F0A12CE87811F143EDD456E5C9250459F52F23CA1E8D265A3F57287
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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