Birdwatch Note Rating
2023-03-19 00:16:36 UTC - HELPFUL
Rated by Participant: 003C46FD89FA2D8E73B739ADE9A567CFCD9924A74308EBDC0388EB4D30B4944B
Participant Details
Original Note:
The 3% number Biden is referring to is based on a value increase of held investments (not on their income). However, these investments can also lose value which why they are taxed when sold and become income. Calculating on that, the avg tax rate for them is 25%, not 3. https://www.politifact.com/factchecks/2022/jul/13/joe-biden/joe-bidens-dubious-math-federal-income-tax-burden/
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