Birdwatch Note Rating
2023-03-29 14:48:14 UTC - HELPFUL
Rated by Participant: 00C99443F894C5FE7BC85BE76890D0577B686BFE3B14ADBEAD2EAB6206E2BFEE
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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