Birdwatch Note Rating
2023-03-18 23:22:58 UTC - HELPFUL
Rated by Participant: B6B6625BC9E5E7753A723787520D6DFB26F84176B599FCA8FDB14A8F7E0FFBB1
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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