Birdwatch Note Rating
2023-03-19 07:23:14 UTC - SOMEWHAT_HELPFUL
Rated by Participant: E933FD7E92355C73C6D12061447FF4CECDFA12148AE3020F21079B6D4C1B2C23
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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