Birdwatch Note Rating
2023-03-19 03:42:42 UTC - HELPFUL
Rated by Participant: ECFE078B7AA0E964626CEF9EB86F0FE149535961A8B85C4128AED27E125D0EF2
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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