Birdwatch Archive

Birdwatch Note Rating

2023-06-26 16:57:33 UTC - NOT_HELPFUL

Rated by Participant: 0E528FF474231EDEA3AD6D4F968D50391658E089B12A93B96DEDE2820243B7CB
Participant Details

Original Note:

The 8% figure cited by Biden is based on a non-standard income calculation that includes unrealized capital gains (increase in the value of unsold assets). Unrealized asset appreciation is not taxable under existing federal law, but is taxable when sold for profit. https://www.cnn.com/2023/02/17/politics/biden-economy-facts-first/index.html https://www.politifact.com/factchecks/2022/jul/13/joe-biden/joe-bidens-dubious-math-federal-income-tax-burden/ https://www.whitehouse.gov/cea/written-materials/2021/09/23/what-is-the-average-federal-individual-income-tax-rate-on-the-wealthiest-americans/

All Note Details

Original Tweet

All Information

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