Birdwatch Note Rating
2023-03-18 21:26:39 UTC - SOMEWHAT_HELPFUL
Rated by Participant: CCC328C7A178EFC4AB919FD27F98EEA9BF503F6BB67655DBD67A0716C0E0EFC9
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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