Birdwatch Note Rating
2023-03-19 00:09:26 UTC - HELPFUL
Rated by Participant: E6B2CAD1C4B019662B394CC857087C573962558D7E37D90C11C3ADFE0401CEE2
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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