Birdwatch Note Rating
2023-03-19 19:36:00 UTC - HELPFUL
Rated by Participant: D7B4282A47473C9F236C6D913BD40E55A1ADC123FDD1DE4F91C4BAE1D3802B09
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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