Birdwatch Note Rating
2023-03-19 07:04:37 UTC - HELPFUL
Rated by Participant: B4386D44F90AF7321B8996346261F4C5743D068F46599653D3C9C6CF90C835A0
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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