Birdwatch Note Rating
2023-03-19 17:41:25 UTC - SOMEWHAT_HELPFUL
Rated by Participant: FD356740B9A4AC56B200AC568AE260DC4A1C21FF5AF2C4F6E3D6D71B8BDC947E
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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