Birdwatch Archive

Birdwatch Note Rating

2023-06-26 17:17:59 UTC - HELPFUL

Rated by Participant: 6E512D531B0BD7B137A6EAB8F4700A64A446963F56EF845BBC0AC61244660435
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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