Birdwatch Archive

Birdwatch Note Rating

2023-06-26 18:28:07 UTC - HELPFUL

Rated by Participant: 2362430E2F978C0FF722246E693F3A7DDAEC877324D5E0060415611C306DF791
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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