Birdwatch Note Rating
2023-03-19 07:13:30 UTC - HELPFUL
Rated by Participant: E30D5CA0D32CE583C49D356666EB30E69C240CB734569A4E04B554E82D526C3E
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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