Birdwatch Note Rating
2024-03-08 20:56:03 UTC - HELPFUL
Rated by Participant: 3046835F2A00CF694B4BDB431CCBF2314477D53AD9700EEBE9327B83AE81BB87
Participant Details
Original Note:
The 8.2% statistic comes from a theoretical calculation that didn't follow current tax laws as it treats unrealized capital gains (increase in the value of unsold assets) as taxable. These are only subject to taxation once they’re sold for actual profit. https://www.cnn.com/2024/03/07/politics/fact-check-joe-biden-state-of-the-union/index.html#:~:text=what%20billionaires%20pay%20in%20taxes https://www.politifact.com/factchecks/2022/jul/13/joe-biden/joe-bidens-dubious-math-federal-income-tax-burden/ https://twitter.com/JoeBiden/status/1673353683524804613
All Note Details