Birdwatch Note Rating
2023-03-19 17:59:23 UTC - HELPFUL
Rated by Participant: BE0B4E04E2C92D8334ECA064625DBFEB26BE65CCEF1C5F40F44B1DF1B731C77A
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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