Birdwatch Note Rating
2023-03-19 06:42:15 UTC - HELPFUL
Rated by Participant: F7227A59F567B4C4BD7E7E50A4A811926B6EF2A1C8B4DCCE49ACF398721C80D7
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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