Birdwatch Note Rating
2023-03-20 01:08:36 UTC - HELPFUL
Rated by Participant: F2F2415A3D9E01A826F9474F91A950B26EA52C438ED3429E1AE6A11281FE22CB
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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