Birdwatch Note Rating
2023-03-19 02:13:25 UTC - NOT_HELPFUL
Rated by Participant: D3D1B9C3E0B9D7888C428D76DB159C1C8633E6E01D095C9411380853C9295163
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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