Birdwatch Note Rating
2023-03-19 06:25:34 UTC - SOMEWHAT_HELPFUL
Rated by Participant: D712D93677080EC1A8C9B2087857093DA00A03C35B92F211F50287E00CB8A91B
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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