Birdwatch Note Rating
2023-03-19 07:14:55 UTC - HELPFUL
Rated by Participant: E67630470DFECD66E2DAFE63EC4169744E17EDE0A409A632B152B34E8627BE29
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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