Birdwatch Note Rating
2023-03-18 22:25:10 UTC - HELPFUL
Rated by Participant: B437ED84A5AD46F30B2EBC94687B6987A00062FA0A2E5EEDE062DC07DEE5BD53
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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