Birdwatch Note Rating
2023-03-21 05:25:59 UTC - NOT_HELPFUL
Rated by Participant: C6A77791615CF0C2C531B8DA8DFCF6245293E15FFD1496BEC9A813C86E751553
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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