Birdwatch Archive

Birdwatch Note Rating

2023-06-27 13:55:51 UTC - HELPFUL

Rated by Participant: A29538C036AF03311B6DE980B4C1935B8E028D41E2FB1A535687D8FED6D477A6
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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