Birdwatch Note Rating
2023-03-18 23:19:46 UTC - HELPFUL
Rated by Participant: C8096613C2620C0CCCD6EDA465B90D09A947E59C2BF65D85ABCBDE0385F93E78
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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