Birdwatch Note Rating
2023-03-19 07:00:18 UTC - SOMEWHAT_HELPFUL
Rated by Participant: D8606E1D96666AB1F49FB4B48B0EECA6C38CC2E908DBF3D891B6D99E560658B8
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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